As per Future Market Insights, the fiber drawing machine market is anticipated to attain a value pool of US$ 500 million by 2023-end. Global demand for fiber drawing machines is expected to rise at a CAGR of 6% to US$ 900 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 500 million |
| Projected Market Value in 2033 | US$ 900 million |
| Growth Rate (2023 to 2033) | CAGR of 6% |
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Post 2020, dip in market growth due to the pandemic effect, demand for Fiber Drawing Machine will witness a steady recovery in the short-term, with an optimistic growth outlook in the long run.
Principal Consultant
The production of various types of fiber has improved over the past few years with increased consumption from different sectors. With the inception of modern drawing technologies, fiber drawing machines have developed to produce end-use specific and industry-standard types, catering to vivid demands.
These machines enable small and medium businesses to scale up their output and can produce a variety of fiber types, including ribbon, spun, package, and microstructure fibers, as well as fiber dimensions ranging from 50 to 1500 microns.
Apart from the use of these machines in textile applications, they are also used in the automotive and aerospace industries. Drawn fiber can also be woven into support structures for composite materials used in the automotive and aerospace industries. Medical braiding is another popular application of drawn fiber monofilaments in the medical industry.
The increasing fields of application of modern and traditional fiber provide numerous opportunities for market growth. The new perform technologies which are complementary with respect to enhanced fiber requirements, the adjustment of nonlinear fiber properties, and the possibility of hybrid fiber fabrication are shaping the market.
Drawing technology has advanced in response to specialty fiber requirements such as modified fiber diameters, varying coating properties, and microstructure of fiber configurations in the nanometer range, providing value to textiles, vehicle structures, medical equipment, and small-scale businesses. Such emerging applications have led to growing end-uses.
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Integrated systems for manufacturing fiber for all applications, is a key regional trend in the USA market. It is a mature market with the world's largest suppliers with comprehensive know-how, of the fiber drawing process with advanced technology. The suppliers in the USA can thus develop optimal solutions for fiber end-users.
The suppliers not only specialize in the machines and systems but also provide pre-sale activities and after-sales service.
The presence of key market participants in the USA country is likely favoring the market demand. A high level of technological competence in the field of fiber drawing machinery, combined with government support to boost small-scale production and upheave industrial production, is providing momentum for market growth in the USA.
In the country of Canada, fiber drawing for textile making is generally employed by textile companies. Both USA and Canada are providing positive stimulus to the market growth.
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as commercial spaces are growing in the country, the market is gaining prominence.
Despite the COVID-19 challenges, Europe has been actively involved in shaping the market. These machines are the acknowledged standard for quality benchmarking in Europe, and they reflect patterns such as yarn exchange contracts, fiber, and yarn quality in connection with textile machine purchases, as well as all other commercial textile transactions.
Companies are improving their products and setting new objectives for adhering to these standards.
Some of the leading manufacturers and suppliers include
The common trend among suppliers is that they engage in contract manufacturing with system developers, component integrators, and assembly solution providers. These contracts help to provide value in the supply chain and deliver greater benefits to the end user as well as the supplier.
For instance, the Fibers segment of Oerlikon Management AG, Pfäffikon/Switzerland, has signed contracts for 2 orders with a total of 120 spinning positions for manufacturing polyamide POY yarn with Chinese yarn manufacturers, which are also involved in erection and commissioning.
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Fiber Drawing Machine Market
