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
Metal Fiber Market Size and Forecast:
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
4.8% |
|
Base Year Market Size (2024) |
USD 5.75 billion |
|
Forecast Year Market Size (2034) |
USD 9.19 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of metal fiber is assessed at USD 5.98 billion.
Metal Fiber Market size was valued at USD 5.75 billion in 2024 and is expected to reach USD 9.19 billion by 2034, expanding at around 4.8% CAGR during the forecast period i.e., between 2025-2034.
North America is likely to hold largest industry share by 2034.
The key market players include Bekaert S.A., 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.
