Metal Fiber Market Size 2022: Recent Trends, Explosive Factors of Revenue By Progression Status, Emerging Demands, Futuristic Opportunity, Share and Forecast To 2030
Market Research Future (MRFR) reveals that the metal fiber market was worth close to USD 4.5 billion in the year 2020. Moreover, the global market can clock in an approximate growth rate of 8.1% during the evaluation period (2022 to 2030).
Market Boosters and Barriers
Metal fibers witness substantial demand across a myriad of industries, some of which are aerospace and defense, textile and automotive. The product demand has been mounting notably in the automotive industry, which will mean considerable revenue generation in the next few years. The escalating preference for lightweight vehicles, along with the strict government standards and regulations with regard to vehicles’ fuel efficiency and its role in cutting down the overall weight should also push the market demand. The global market benefits significantly from the huge number of reputed manufacturers and the soaring demand for aluminum and steel fibers. Other important end-use sectors are defense, aerospace, electronics and electrical, which are also responsible for the industry growth.
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Metal fibers are known for their high corrosion resistance, tensile strength and chemical resistance, which have created a tremendous demand for them in a variety of industries. Other than automotive and the increasing preference for lightweight vehicles, the aviation sector is also increasingly opting for metal fibers to reduce the overall weight of aircraft and other models.
Vendors are increasingly emphasizing on technical integration throughout the value chain, which has raised the competition level in the global market. Rising use of modern technologies like drones, robotics, Internet of Things (IOT), artificial intelligence, cloud computing, and blockchain has transformed numerous aspects of the manufacturing process. These technologies have not only bolstered the safety level during manufacturing but also fostered efficiency and reliability, while facilitating accurate monitoring across the supply chain.
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LG Chem Ltd (South Korea), Lauren International (US), SABIC (Saudi Arabia), LANXESS (Germany), BASF SE (Germany), Chi Mei Corporation (Taiwan), A. Schulman (US), INEOS Styrolution Group GmbH (Germany), Entec Polymers (US) are the big names in the acrylonitrile styrene acrylate industry.
These companies mostly focus on launching new products and enter deals that include mergers and acquisitions, make strategic investments and foster production capacity to capitalize on the industry opportunities. Contractual deals between ASA manufacturers and major end-users also helps elevate their market positions.
For instance, in January 2012, Ineos Styrolution confirmed that its Luran S 778T SPF30 grade was chosen by SAIC for its MG Linghang model that introduced in October 2020. Ineos Styrolution’s Luran S is an acrylonitrile styrene acrylate copolymer that has numerous exterior unpainted applications. This ASA has several impressive properties with a high-quality appearance. It also provides significant weathering stability for various outdoor use-cases even if not painted. It is also compatible with the hot stamping technology that helps induce aesthetic effects.
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The Metal Fiber Industry can be considered for type, application, technology, and end user.
The different metal fiber types covered in the report are silver, aluminum, nickel, iron, copper, and more. The leading spot has been procured by aluminum, which enjoys significant demand due to its high thermal resistance, conductivity, and light weight properties.
Major applications of metal fiber are ESD/EMI protection, filtration, heating, hot glass manipulation, and others.
Various technologies studied are foil shaving, bundle drawing, machining and melt spinning.
The main end users are textiles, automotive, glass, plastic, and others.
The metal fiber industry can be geographically distributed into Latin America, Europe, the Middle East & Africa (MEA), North America, and Asia Pacific (APAC).
In 2018, the biggest share in the global market was captured by North America and the region should continue making significant progress throughout the analysis timeline. Key reasons for the regional market’s significant growth can be the booming sales of textile products including protective clothing, plastic compounds, and carpets & upholstery fabrics, which extensively use metal fibers. Besides, the thriving automotive sector across Canada and the United States also ensures steady demand for metal fiber, which has applications in clutches, car seat heating seat and embedded brake pads, among others.
Coming in second is the European market, with the region exhibiting promising growth, thanks to the rising use of metal fiber in the textile industry for applications in thermal clothing to produce protective personal equipment’s (PPEs). These PPEs are used largely in the construction, mining and food and beverage sectors. The strong presence of these end-use sectors in the region, as well as plastic and glass industries contribute substantially to the market growth in the region.
The Asia Pacific market has been doing tremendously well and can even capture the highest growth rate between 2020 and 2027. The sharp industrialization growth in a number of developing nations like India, Japan, and China, has fostered the demand for metal fibers. Apart from this, programs and initiatives like ‘Make in India’ that aim to bolster Foreign Direct Investments (FDI) have encouraged the manufacturing segment, leading to robust use of metal fiber across a myriad of sectors.
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TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics Of The Global Metal Fiber Market
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