Metal Fiber Market Size & Share, by Material Type (Nickel, Copper, Aluminum, Gold, Silver, Bronze); End-user (Textile, Construction, Automotive, Electrical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 1058
  • Published Date: Feb 07, 2023
  • Report Format: PDF, PPT

Global Metal Fiber Market Size, Forecast, and Trend Highlights Over 2023 – 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 9 Billion

The global metal fiber market is estimated to garner a revenue of nearly USD 9 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of around USD 2 Billion in the year 2022. The growth of the market can be attributed primarily to the expansion of the chemical industry worldwide. For instance, the Indian chemical industry accounted for nearly USD 170 billion in the year 2019 and is anticipated to reach around USD 300 billion by 2025.

Metal-Fiber-Market-Analysis

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Metal fibers, also known as synthetic fibers, are composed of metals, metals coated by plastics, or the core completely made up of metals. Metal fibers can be drawn from wires of larger diameters, shaved from thicker wire or grown around carbon seeds. Silver and gold were traditionally used in the textile industry for luxury clothing decoration purposes. The primary use of metal fibers lies in upholstery fabric and textiles such as lame and brocade. Metal fibers are also used by consumers in weaving. Metal fibers can be knit, braided and woven into fashionable trims and fabrics. Fabric production is significantly increasing, which is resulting into the growth of the global metal fiber market. For instance, the total production of fabric in India amounted to over 77 billion square meters in 2020.

Global Metal Fiber Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Automotive Vehicles – Metal fibers are used significantly and widely in the automotive sector. Automotive sector is growing rapidly across the world. Hence, this is anticipated to be an important factor to drive the market growth. Revenue of worldwide automotive manufacturing industry was sized at approximately USD 2.9 trillion in 2021 and it is estimated to increase significantly over the forecast period.
  • Increasing Expansion Rate of Construction Industry – According to estimates, by the end of 2025, the construction industry in India is expected to reach a total value of USD 1.3 trillion.
  • Rising Government Support to Expand the Chemical Industry – Within the Union Budget 2022-23, the Indian government allocated approximately USD 27 million to the Department of Chemicals and Petrochemicals.
  • Increasing Expansion of Chemical Industry across the Globe – Global chemical industry garnered revenue of nearly USD 4 trillion around the world in the year 2021.
  • Increasing Fiber Production around the Globe – In the year 2021, natural fibers such as cotton or wool had a production volume of nearly 26 million metric tons, whereas chemical fibers accounted about 89 million.

Challenges

  • Design Restrictions
  • Lack of Expert Professionals
  • High Production Cost

The global metal fiber market is segmented and analyzed for demand and supply by end user into textile, construction, automotive, electrical, and others. Out of these segments, the automotive oil segment is expected to hold the highest growth by the end of the year 2033 owing to the growing sales of cars across the world, and increasing production of automotive vehicles. It was noted that, in 2020, global car sales accounted to approximately 64 million automobiles, and from there it rose to approximately 67 million automobiles in 2021.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Demand-AnalysisThe chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Metal Fiber Market Regional Synopsis

Regionally, the global metal fiber market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 on the back of the growing production of vehicles, and significant numbers of employee in the automotive sector in the region. The United States produced approximately 9 million vehicles in 2020. About 924,000 Americans work in motor vehicles and parts manufacturing, and nearly 1,251,700 are employed by automobile dealers.

Metal-Fiber-Market-Scope

The global metal fiber market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global metal fiber market includes the following segments:

By Material Type

  • Nickel
  • Copper
  • Aluminum
  • Gold
  • Silver
  • Bronze
  • Others

By End User

  • Textile
  • Construction
  • Automotive
  • Electrical
  • Others

Top Featured Companies Dominating the Global Metal Fiber Market

  • Bekaert S.A.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • IntraMicron, Inc.
  • V. Bekaert S.A.
  • PPG Industries Ohio Inc.
  • Fiberguide Industries Limited
  • Fibrometals SRL
  • Green Steel Group
  • MBC Metal Limited
  • Nippon Seisen Co., Ltd
  • BinNova Metal Fiber Technology GmbH


In-the-news

In the News

  • Bekaert S.A. – As part of expnasion strategy, Bekaert announced an equity investment in TFI Marine (Technology from Ideas), a leading mooring innovator, which has responded to the market needs with essential, patent-protected load reduction devices for floating offshore wind and offshore fish farm mooring systems.
  • PPG Industries UK Ltd – PPG Industries UK Ltd achieved record sales in the third quarter driven by continued selling price realization, resulting in more than a 12% rise in selling prices versus the third quarter 2021 and an 18% increase on a two-year stacked basis.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 1058
  • Published Date: Feb 07, 2023
  • Report Format: PDF, PPT

Key Questions Answered in the Report

1) What are the major factors driving the growth of the metal fiber market?

Ans: Expansion of the chemical industry worldwide, growing automotive industry, and rising governmental support are some major factors driving the growth of the market.

2) What would be the CAGR of metal fiber market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the metal fiber market growth?

Ans: Lack of expert professionals, and high cost of production are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of metal fiber market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the metal fiber market?

Ans: The major players in the market are IntraMicron, Inc., N.V. Bekaert S.A., PPG Industries Ohio Inc., Fiberguide Industries Limited, Fibrometals SRL, Green Steel Group, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the metal fiber market?

Ans: The market is segmented by material type, by end user, and by region.

8) Which segment captures the largest market size in the end user segment in the metal fiber market?

Ans: The automotive is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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