According to the business intelligence report titled ‘Global Metal Fiber Market Size study, by Type (Steel, Copper, Nickel, Aluminum and Others), End-Use Industry (Automotive, Textile, Aerospace, Construction, Power and Electronics and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global metal fiber market amassed USD 4.5 billion in 2019 and is reckoned to be worth USD 5.7 billion by 2027, expanding at 4.2% CAGR between 2020-2027.
 

Utilization of product in homes for electrical wiring with desirable warmth resistance and electricity consumption as well as for filtration applications, in consort with features like recyclability and reusability without reduction in efficiency are key factors driving global metal fiber market growth.
 

For the unaware, metal fibers can either be fiber core covered by metal, metal coated plastic, or plastic coated metal. Also, metallic fibers such as aluminum and stainless steel are used for applications such as textile decoration.
 

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Moreover, characteristics of metal fibers such as corrosion resistance, chemical resistance, and superior tensile strength, along with their utilization in end-user industries will also spur industry expansion over the analysis timeframe.
 

As per the World Steel Association, in 2020, steel demand was 1,654 Mt which is 6.4% lower than 2019, owing to the covid-19 pandemic. This demand is speculated recover to 1717 Mt in 2021, which is 3.8% higher than 2020. Moreover, the data states that in February 2021, total crude steel output from 64 leading producer nations was 150.2 million tons, an increase of 4% as compared to February 2020 but 8% lower than January 2021.
 

While development of metal fibers due to strict regulations by government to decrease overall weight of vehicle to improve fuel efficiency will facilitate global metal fiber market growth between 2020-2027, availability of substitutes, lack of flexibility, and high maintenance & manufacturing costs are poised to hinder industry proliferation.
 

Based on type, worldwide metal fiber market is fragmented into copper, steel, aluminum, nickel, and others. Speaking of end user spectrum, the industry is bifurcated into power & electronics, automotive, aerospace, textile, construction, and others.
 

Regionally speaking, Asia Pacific held majority of global metal fiber industry share in the recent past due to high product demand from India, China, and other countries. Presence of leading companies in the region and huge consumer base will further proliferate the industry size in Asia Pacific.
 

Key players profiled in the report are Adidas AG, Yutian Zhitai Steel Fiber Manufacturing Co. Ltd., N.V. Bekaert S.A., FiberZone India, ArcelorMittal S.A., KOSTEEL Co. Ltd., Green Steel Group, Nippon Seisen Co. Ltd., Sarda industrial Enterprises, and Stanford Advanced Materials.