The global metal fiber market is set to gain momentum from its surging usage in various aircraft as a sound attenuation element. Nowadays, the increasing population in cities is, in turn, raising the volume of air traffic. Hence, the demand for silent aircraft is increasing to lower noise pollution and to control air traffic.
This Report Answers the Following Questions:
- What are the market drivers, trends, and hindrances?
- Which region would dominate the market in the near future?
- Which segment is set to lead the market by the end of 2027?
- How will the companies surge sales of metal fibers amid the pandemic?
Segment-
Based on end-use, the aerospace segment held 16.5% in terms of metal fiber market share in 2019. The textile segment is expected to earn the highest revenue throughout the forthcoming years fueled by the increasing usage of stainless steel fibers and yarns for shielding textiles from electromagnetic interference (EMI).
Regional Analysis-
Asia Pacific dominated the market in 2019 and is likely to remain in its position in the near future. This growth is attributable to the high demand for these fibers from India and China. Also, India would showcase a considerable demand from the textile and automotive industries. In 2019, North America procured USD 629.9 million in terms of revenue. The increasing usage of textiles, such as protective clothing, upholstery fabrics, and carpets is set to surge the demand for metal fiber in this region.
Competitive Landscape-
The market is highly fragmented. Most of the companies are adopting strategies, such as investments, acquisitions, research & development activities, and innovation to strengthen their positions. Some of the others are broadening their production processes and shifting their facilities to bigger locations for attracting more customers. Below is a recent industry development:
- July 2020: Bekaert will move its US production activities of Dramix® steel fiber to a state-of-the-art facility in Wilkes-Barre in fall 2020. It took this decision because of the high demand for Dramix® steel fiber. The company’s Shelbyville team will assist customers during the entire relocation process. To meet the ‘U.S. made and melt’ requirement, the company is investing in high-quality steel fiber production.
Fortune Business Insights™ presents a list of the reputed metal fiber manufacturers operating in the market. They are as follows:
- Bekaert (Belgium)
- Deutsches Metallfaserwerk Dr. Schwabbauer GmbH & Co. KG (Germany)
- IntraMicron (U.S.)
- NIKKO TECHNO, Ltd. (Belgium)
- CREAFIBRES SAS (France)
- Green Steel Group (Italy)
- Fibrometals (Romania)
- Nippon Seisen Co., Ltd. (Japan)
- MBC Metal Limited (China)
- Addas Group (Egypt)
- GUVEN METAL (Turkey)
- BinNova GmbH & Co KG (Germany)
- Other Key Players
Browse Link: https://www.fortunebusinessinsights.com/metal-fiber-market-103888
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