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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.
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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:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Million)
Product; Technology; Application; End-Use; and Geography