Metal Stamping Market Overview
Global Metal Stamping Market is forecast to surpass a valuation of nearly US$ 199 Bn in 2022, with sales growing at a 3.6% CAGR over the assessment period. Ongoing expansion of the electrical & electronics sector is expected to boost sales, pushing the market size to over US$ 260 Bn by 2032.
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Increasing applications of metal frames in electronic products such as mobile phones, speakers, headphones, gaming consoles, and controllers are expected to drive sales in the metal stamping market. Metal stamping is used for manufacturing camera lens holders, antennas, and chassis in mobile phones.
The process enables manufacturers to achieve high tolerance, electrical conductivity, corrosion resistance, and a smooth finish in electronic components. Backed by these features, sales of metal stamping are projected to remain high over the forecast period.
Further, rising adoption of the bending process in various end-use sectors to improve the stability, durability, and performance of metal components is anticipated to bode well for the market. Increasing focus on safety in the aerospace sector is expected to create opportunities for growth for players operating in the market.
In addition to this, stringent regulations pertaining to the quality of metal components used in aircraft, along with surging demand for lightweight components to improve fuel efficiency and weight of the aircraft are key factors expected to drive sales in the aerospace sector.
Which Factors are Complementing the Growth in the Metal Stamping Market?
Increasing production of passenger vehicles in the automotive sector across the globe is expected to push sales in the market over the forecast period. Metal stamping enables manufacturers to achieve the desired shape and size of metals by punching or pressing using stamping dies. This process can be done manually or automatically.
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Some frequently used metals in metal stamping include stainless steel, brass, copper, and aluminum. The expansion of the metals and mining industry to cater to the growing demand for metals in automotive, consumer electronics, and aerospace sectors is expected to drive sales in the market.
In addition to this, technological advancements in the metal stamping process are encouraging manufacturers to reduce the costs in the manufacturing process. In this process, the usage of dies is optional, thereby saving time and optimizing the cost.
Besides this, surging demand from the telecommunications sector to manufacture antennas and the outer body of products is anticipated to fuel sales as the process improves the durability of telecom products. Growing demand for high-quality and advanced telecom products across the globe will continue augmenting the growth in the market.
Further, the industrial sector is expected to emerge as a lucrative application segment in the forthcoming years. Rapid industrialization in emerging economies such as China, India Brazil, and South Africa will drive sales, as the process is being adopted for the production of manufacturing and construction equipment.
What are the Challenges in the Metal Stamping Market?
The replacement of metal automotive products with lightweight materials like plastic and carbon fiber is expected to hinder the growth in the market. As per the Office of Energy Efficiency and Energy Consumption, lightweight materials in vehicles increase efficiency by reducing the overall weight by 10% and improving fuel economy by 6-8%.
Increasing adoption of lightweight materials such as alloys, magnesium alloys, carbon fiber, aluminum fiber, polymer composites, and high strength steel over cast iron and traditional steel components is anticipated to hamper sales.
Will the Asia-Pacific Emerge as a Lucrative Pocket in the Global Metal Stamping Market?
Sales in the Asia Pacific are expected to account for more than 37% of the total market share in 2022. Increasing production and sales of passenger cars and consumer electronics in countries such as India, Bangladesh, and China is a key factor that will boost the market over the forecast period.
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Rapid industrialization, investments in infrastructure development, and growth in the defense and aerospace sectors in the region are spurring demand for manufacturing equipment. Governments in various countries are investing in the defense sector to upgrade defense equipment, launch advanced equipment and improve the efficiency of vehicles and aircraft.
Further, expansion of the agricultural sector in India is anticipated to augment the growth in the market over the forthcoming years. Metal stamping is used to manufacture components used in agricultural equipment and vehicles, which in turn will boost sales in the market over the assessment period.
What is the Europe Metal Stamping Market Outlook?
The presence of leading luxury automotive manufacturers across Europe is anticipated to place the region as an attractive market over the forecast period. Surging usage of metal stamping in the automotive sector will continue driving sales across Germany, France, Italy, and Russia over the assessment period.
In addition to this, increasing adoption of metal components in the construction, agricultural, telecom, and electronics sectors in Europe is expected to bode well for the market. Rising investments in the development of public infrastructure in countries with high tourist footfall are boosting the market in Europe.
Market Competition
Some of the leading players present in the global metal stamping market include American Industrial Company, Martinrea International Inc., Magna International Inc., Hayes Lemmerz International, Harvey Vogel Manufacturing Co., Haitong Metals, D&H Industries, Inc., Dongguan Fortuna Metal Stamping Company, ThyssenKrupp AG, Alcoa Inc. and American Axle & Manufacturing, Inc.
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Fiat Chrysler Automobiles, Toyota Motor Corporation, Ford Motor Company, General Motors, BMW AG, Whirlpool, and Boeing are some other players profiled by FMI. Players are investing in production facility expansions to leverage opportunities in untapped markets.
Besdies this, players such as D&H industries are investing in research and development to improve the efficiency of metal stamping for manufacturing agricultural equipment, which is expected to boost the market in the forthcoming years.
Key Segments Profiled in the Metal Stamping Industry Survey
Product Type:
- Vehicle stamping
- Job stamping
End Users:
- Automotive
- Aerospace
- Consumer electronics
- Telecommunication
- Electrical & electronics
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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