Meticulous Research® – leading global market research company published a research report titled “Metal Stamping Market by Process (Blanking, Embossing, Bending, Deep Drawings), Material (Steel, Aluminum, Copper), Application (Automotive, Consumer Electronics, Aviation, Electronic, Telecommunications, Medical, Defense), and Geography-Global Forecast to 2023”.
According to this latest publication from Meticulous Research®, the global metal stamping market is expected to grow at a CAGR of 3.9% from 2018 to reach USD 289.2 billion by 2023. The growth of this market will be driven by factors such as rising urbanization and industrialization, growing automotive industry, increasing demand from aerospace and aviation industry, and a rise in technological advancements. Moreover, rising use of sheet metal across manufacturing industries and growing investments into metal stamping facilities further supports the growth of this market. However, the emergence of plastics & composite materials hinders the growth of the market to some extent.
The global metal stamping market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2023-by Process (Blanking, Embossing, Bending, Deep Drawings), Material (Steel, Aluminum, Copper), and Application (Automotive, Consumer Electronics, Aviation, Electronic, Telecommunications, Medical, Defense). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of process, blanking market commanded the largest share of global metal stamping market in 2017. However, metal bending market is expected to grow at the fastest CAGR during the forecast period, owing to rising adoption of bending process across many industry verticals for improving the quality, durability, and stability of manufactured parts. Moreover, deep drawing stamping market is also expected to witness significant growth through 2023, as the adoption of deep drawing process for the production of complex parts across various industries is increasing with rising complexity in the product design, technological advancements, and product innovations.
On the basis of application, metal stamping market for automotive application commanded the largest share of global market in 2017 with huge and growing automobile production in developing market, especially China and India; technological advancements in automotive industry; and presence of large number of automotive metal stamping companies, such as Kenmode Precision Metal Stamping, American Axle & Manufacturing Holdings, Inc., and Aro Metal Stamping Company, Inc., among others. However, the use of metal stamping for aerospace and aviation industry is expected to witness a significant growth, mainly due to growing focus on safety; need to meet strict quality standards; and utilization of lightweight and versatile components to keep fuel costs and aircraft weight down.
On the basis of material, steel stamping market dominated global market in 2017 owing to steel’s easy and high availability, high strength, and low cost; however, aluminum stamping market is expected to witness a rapid growth during the forecast period. The growth of this market is mainly attributed to its rising demand from the automotive and aerospace industry to keep fuel costs and weight down. The aluminum is comparatively soft alloy than the stainless steel; is non-magnetic; and has good thermal and electrical conductivity. It is also more elastic and malleable than steel and has better corrosion resistance property than steel stampings. Therefore, it is an effective alternative to steel metal, thereby witnessing a growing demand from automotive, commercial food equipment, railway, aerospace, electronics, and electrical industries.
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This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Spain, France, Italy, Germany, U.K., and RoE), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. Asia Pacific commanded the largest share of the global metal stamping market in 2017, followed by Europe and North America; it is also a fastest growing region. The global shift of manufacturing from North America & Europe to Asia-Pacific region and related rise in the use of metals & metal stamping processes in the manufacturing are majorly attributed to the large share of this region. In addition, rising industrialization, income level, and urbanization; significantly growing automotive and aerospace & aviation industry; infrastructural developments; growing private & government investments in manufacturing sector; and growing demand for various consumer goods from large population base are the key factors propelling the growth of the Asia-Pacific metal stamping market.
The major players operating in the global metal stamping market are Magna International Inc., Alcoa Corporation, American Axle & Manufacturing Holdings, Inc., Interplex Holdings Pte. Ltd., Acro Metal Stamping Co., Tempco Manufacturing Company Inc., D&H Industries, Inc., American Industrial Company, Manor Tool & Manufacturing Company, Kenmode Precision Metal Stamping, Klesk Metal Stamping Co., Aro Metal Stamping Company, Inc., Goshen Stamping, LLC., Sertec Group Ltd., KOBAKIN (J) CO.,LTD., Harvey Vogel Manufacturing Co., Dongguan Shiyunjia Hardware Co., and Clow Stamping Company among many others.
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