Metal Fiber Felt Market Size by Type (Inconel, Stainless Steel, and Others), By Application (Automobile, Petrochemical Industry, Manufacturing Industry, and Others), Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 10, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the metal fiber felt market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the metal fiber felt market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global metal fiber felt market are Beious Company, FAFS, Xi’an Filter Metal Materials, Anping Tori Wire Mesh, Xiamenjl-Fiber Science&Technology, Filmedia, Eworldtradefair, NV Bekaert SA, Stanford Advanced Materials, Fuji Filter Mfg. Co., Ltd, Heanjia Super Metals Co. Ltd., XinXiang XinLi Filter Technology Co., Ltd, Purolator EFP LLC, Boegger Industrial Limited, Ayater Filtration Solutions, Raj Filters, Everest Equipments International Co., Ltd among others. To achieve a substantial market share in the worldwide metal fiber felt market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
As a result of lapping, laminate, and high-temperature sintering, metal fibre felt is produced in micrometres. The multilayered metallic fibre felt can be highly filtered and have a larger dirt-holding capacity than one layer felt due to the pore diameter gradations produced by layers of different pore sizes. With its ease of folding, pleating and welding, metal fiber felt provides immense flexibility in filtration applications. The material has uniform pore sizes and excellent porosity and permeability, combined with its durability, making it ideal for harsh industrial environments. As a result of its superior properties like heat resistance, insulation, and acoustic damping, it is increasingly sought after by end-use industries such as automotive, construction, and aerospace. In addition to its physical properties, metal fiber felt is highly corrosion-resistant and has high mechanical strength, metal fiber felt has a significant increase in dirt-holding capacity than other types of filter media, making it extremely useful and beneficial for filtration applications. Furthermore, rising technological advancements in the market will create more opportunities for the metal fiber felt market to grow. There are some factors which are hampering the growth of the market such as the presence of alternatives in the market and the high cost of the metal fiber flat.
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Scope of Metal Fiber Felt Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Application and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Beious Company, FAFS, Xi’an Filter Metal Materials, Anping Tori Wire Mesh, Xiamenjl-Fiber Science&Technology, Filmedia, Eworldtradefair, NV Bekaert SA, Stanford Advanced Materials, Fuji Filter Mfg. Co., Ltd, Heanjia Super Metals Co. Ltd., XinXiang XinLi Filter Technology Co., Ltd, Purolator EFP LLC, Boegger Industrial Limited, Ayater Filtration Solutions, Raj Filters, Everest Equipments International Co., Ltd, among others |
Segmentation Analysis
Stainless steel is expected to be the fastest-growing segment in 2022.
The type segment includes the inconel, stainless steel, and others. The stainless steel segment is expected to witness the highest growth rate during the forecast period. Stainless steel is a type of steel that has been treated in an additional process that makes it resistant to chemicals and rust, as well as giving metal fibers in felt products an additional strength factor. Because of this, the global stainless steel market is expected to grow.
The automobile is expected to be the fastest-growing segment in 2022.
The application segment includes the automobile, petrochemical industry, manufacturing industries, and others. The automobile segment is expected to witness the highest growth rate during the forecast period. The demand for metal fiber felt is high in the automobile sector because it is used throughout the car as acoustical material and as thermal insulation throughout the engine to help reduce noise outside the car. Moreover, to eliminate hot spots in the engine, more automotive felt is employed.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the metal fiber felt market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. Due to the strong growth of the automotive, chemical and petrochemical industries in Asia Pacific, metal fiber felt is expected to be a significant market in the region. Additionally, the industrial machinery & equipment sector registers significant demand for metal fiber felt-based filter elements.
Country Analysis
- Germany
Germany’s metal fiber felt the market size was valued at USD 6.12 billion in 2022 and is expected to reach USD 6.62 billion by 2030, at a CAGR of 2% from 2023 to 2030.
Increasingly lightweight automobiles and government regulations that require vehicles to be lighter to improve fuel economy are driving the metal fiber felt market in the region.
- China
China’s metal fiber felt the market size was valued at USD 1.36 billion in 2022 and is expected to reach USD 1.86 billion by 2030, at a CAGR of 4% from 2023 to 2030.
China is the largest producer of metal fiber flat as well as the largest consumer. Moreover, the rising demand for automobile parts will further boost the growth of the market.
- India
India’s metal fiber felt the market size was valued at USD 1.02 billion in 2022 and is expected to reach USD 1.29 billion by 2030, at a CAGR of 3% from 2023 to 2030.
During the forecast years 2022 to 2030, India will emerge as one of the fastest-growing markets due to rapid industrialization and government initiatives geared toward infrastructure development more rapidly than other emerging markets.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for lightweight automobiles and automobile parts, propelling the growth of the market across the countries.
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