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Metal Fiber Market Size to Reach $6,561.6 Million by 2027; Urgent Need to Reduce Vehicular Emissions in Atmosphere will Favor Growth

October 14, 2020 | Chemicals & Materials

The global metal fiber market size is projected to reach USD 6,561.6 million by 2027. An urgent need to replace glass fiber media with metal fiber media in the in-line filters of aircraft to make it stronger would affect growth positively. This information is published by Fortune Business Insights™ in a new study, titled, “Metal Fiber Market Size, Share & COVID-19 Impact Analysis, By Product (Steel, Nickel, Copper, Aluminum, and Others), By Technology (Bundle Drawing, Foil Shaving, Machining, And Melt Spinning), By Application (ESD/EMI Protection, Filtration, Hot Glass Manipulation, Electrical Cables, Specialties, and Others), By End-Use (Textile, Automotive, Aerospace, Power & Electronics, and Others), and Regional Forecast, 2020-2027.” The study further states that the market size was USD 4,701.0 million in 2019. But, it is set to exhibit a CAGR of 4.5% during the forecast period between 2020 to 2027.


Bekaert Plans to Move its U.S. Dramix® Production Activities to Pennsylvania


In July 2020, Bekaert, a provider of steel wire transformation and coatings headquartered in Belgium, is planning to move its U.S. production activities to a modern & larger facility in Pennsylvania. The company’s main aim is to cater to the surging demand for Dramix® steel fiber concrete reinforcement in the country. It will now be able to manufacture the pre-existing line of Dramix® steel fibers for underground and surface concrete applications in the U.S. The move is likely to take place in fall 2020.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/metal-fiber-market-103888


Increasing Usage in Automotive to Accelerate Growth


In the automotive industry, diesel and gasoline are two of the most significant oil products that are used extensively. The World Resources Institute (WRI) mentioned that at present, greenhouse gas emissions account for 97%, whereas oil products account for 96% of transport energy. Therefore, governments of several countries are taking initiatives to prevent emissions from internal combustion engines for safeguarding humans and the atmosphere. Metal fibers can be used in diesel vehicles to remove oil droplets. This factor is anticipated to boost the metal fiber market growth. However, the availability of cost-effective substitutes, such as carbon fiber and ceramics may hamper the demand for these fibers in the near future.


Key Players Aim to Broaden Product Portfolios to Cater to High Demand


The global market houses numerous firms, such as Fibrometals, Bekaert, Green Steel Group, and others. They are striving to expand their geographic footprint by implementing multiple organic and inorganic strategies. Some of the others are mainly focusing on launching novel metal fibers to cater to the growing demand.


Fortune Business Insights™ lists out the names of all the prominent metal fiber manufacturers operating in the global market. They are as follows:



  • Bekaert (Belgium)

  • Deutsches Metallfaserwerk Dr. Schwabbauer GmbH & Co. KG (Germany)

  • IntraMicron (U.S.)

  • NIKKO TECHNO, Ltd. (Belgium)

  • CREAFIBRES SAS (France)

  • Green Steel Group (Italy)

  • Fibrometals (Romania)

  • Nippon Seisen Co., Ltd. (Japan)

  • MBC Metal Limited (China)

  • Addas Group (Egypt)

  • GUVEN METAL (Turkey)

  • BinNova GmbH & Co KG (Germany)

  • Other Key Players


A Notable Industry Development-



  • May 2018: Bekaert stopped all the Dramix® steel fiber manufacturing operations in Costa Rica. It also planned to shut down Bekaert Costa Rica SA, the company’s respective entity. The management is intending to provide support and guidance to prevent the social impact. The company announced to offer 20 part-time employees an employment transfers to BIA Alambres, Bekaert’s steel wire plant.


Further Report Findings-



  • In 2019, North America generated USD 629.9 million in terms of revenue. This growth is attributable to the increasing usage of metal fibers in textiles, such as protective clothing, upholstery fabrics, and carpets. They are also used in plastic compounds.

  • Asia Pacific is anticipated to lead the market throughout the forthcoming period backed by the increasing demand for metal fiber from the textile and automobile industries in India.

  • Based on end-use, the aerospace segment earned 16.5% in terms of metal fiber market share in 2019.

  • The automotive segment, on the other hand, is expected to showcase a considerable growth because of the rising need to remove the silencer. This product would help in providing a high sound absorption.


The global market can be segmented in the following way:






















































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



  Product; Technology; Application; End-Use; and Geography



By Product


 




  • Steel

  • Nickel

  • Copper

  • Aluminum

  • Others



By Technology


 




  • Bundle Drawing

  • Foil Shaving

  • Machining

  • Melt Spinning



By Application


 




  • ESD/EMI Protection

  • Filtration

  • Hot Glass Manipulation

  • Electrical Cables

  • Specialties

  • Others



By End-Use


 




  • Textile

  • Automotive

  • Aerospace

  • Power & Electronics

  • Others



By Geography


 




  • North America

    • By Product

    • By Technology

    • By Application

    • By End-Use

    • By Country

      • U.S.

        • By End-Use



      • Canada

        • By End-Use







  • Europe

    • By Product

    • By Technology

    • By Application

    • By End-Use

    • By Country

      • Germany

        • By End-Use



      • UK

        • By End-Use



      • France

        • By End-Use



      • Italy

        • By End-Use



      • Spain

        • By End-Use



      • Russia & CIS

        • By End-Use



      • Rest of Europe

        • By End-Use







  • Asia Pacific

    • By Product

    • By Technology

    • By Application

    • By End-Use

    • By Country

      • China

        • By End-Use



      • Japan

        • By End-Use



      • India

        • By End-Use



      • South Korea

        • By End-Use



      • ASEAN

        • By End-Use



      • Rest of Asia Pacific

        • By End-Use







  • Latin America

    • By Product

    • By Technology

    • By Application

    • By End-Use

    • By Country

      • Brazil

        • By End-Use



      • Mexico

        • By End-Use



      • Rest of Latin America

        • By End-Use







  • Middle East & Africa

    • By Product

    • By Technology

    • By Application

    • By End-Use

    • By Country

      • GCC

        • By End-Use



      • South Africa

        • By End-Use



      • Rest of Middle East & Africa

      • By End-Use






Global Metal Fiber Market
  • PDF
  • 2019
  • 2016-2018
  • 80

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