Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “Global Metal Fiber Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global metal fiber market size reached US$ 4.9 Billion in 2022. Looking forward, the market is expected to reach US$ 6.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.0% during 2022-2028.
Metal fibers are thin filaments made using metal, plastic-coated metal, or metal-coated plastic. They are lightweight, durable, versatile, flexible, magnetic, and comfortable to wear. They assist in absorbing energy, reducing static electricity, and adding shine and aesthetic value to garments. Apart from this, they offer numerous beneficial properties, including high porosity, low electrical resistance, excellent thermal, corrosion, shock, and fire resistance, and sound insulation. As they are good conductors of heat and electricity and have high strength and stiffness, metal fibers find extensive application in various end-use industries across the globe.
Metal Fiber Market Trends
At present, there is a rise in the demand for lightweight vehicles worldwide. This, in confluence with stringent regulations imposed by governing agencies of various countries to increase the fuel efficiency of vehicles, represents one of the key factors strengthening the growth of the market. Moreover, metal fibers help during diesel and gasoline particulate filtration and achieve optimal filter performance and durability. They are pleated and welded to fit a compact design for a smaller filter system footprint and provide various features, such as high permeability and lower filter ratings. As they also remove contaminants in fuel and lube oil, reduce wear on the engine components and minimize engine fuel consumption and pollutant emissions, they are increasingly being utilized in the marine industry around the world. Besides this, there is an increase in the adoption of metal fibers in the production of bags, apparel, carpets, footwear, gloves, garments, seats, home decor products, and other industrial solutions. Furthermore, leading market players are continuously funding research and development (R&D) activities, which is creating a favorable market outlook.
Key Market Segmentation
This research provides an analysis of the key trends in each sub-segment of the global metal fiber market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, technology and end use industry.
Breakup by Type:
- Steel
- Copper
- Nickel
- Aluminium
Breakup by Technology:
- Bundle Drawing
- Foil Shaving
- Machining
- Melt Spinning
Breakup by End Use Industry:
- Automotive
- Textile
- Aerospace
- Construction
- Power and Electronics
Companies Mentioned
- Addas Group
- ArcelorMittal S.A.
- BinNova GmbH & Co KG
- Fibrometals SRL
- Green Steel Group
- Guven Metal
- IntraMicron Inc.
- MBC Metal Limited
- N.V. Bekaert S.A.
- Nikko Techno Ltd.
- Nippon Seisen Co. Ltd
- Stanford Advanced Materials
For more information about this report visit https://www.researchandmarkets.com/r/tapzum
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- Global Metal Fiber Market
