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NEW YORK , Feb. 21, 2023 /PRNewswire/ -- Major players in the stamped metal market are Alcoa, Inc, Manor Tool & Manufacturing Company, Acro Stamped Metal, Kenmode Precision Stamped Metal, Clow Stamping Company, Aro Stamped Metal Company, Inc, D&H Industries, Lindy Manufacturing Co, American Axle & Manufacturing, and Nelson-Miller.
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The global stamped metal market will grow from $427.12 billion in 2022 to $465.75 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia -Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The stamped metal market is expected to grow to $634.19 billion in 2027 at a CAGR of 8.0%.
The stamped metal market consists of sales of stainless steel, low carbon steel, and brass.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Metal stamping is used in motor vehicles for producing components with consistent dimensions and shapes that adhere to stringent specifications and tolerances.
Asia Pacific was the largest region in the stamped metal market in 2022.Western Europe was the second largest region in the stamped metal market.
The regions covered in the stamped metal market report are Asia-Pacific , Western Europe , Eastern Europe , North America , South America , the Middle East , and Africa .
The main process types in the stamped metal market are blanking, embossing, bending, coining, deep drawing, flanging, and other processes.Blanking is a metal production process during which a metal workpiece is removed from the primary metal strip when it is punched.
The materials involved are steel, aluminum, copper, and other materials. The various applications involved are automotive, industrial machinery, consumer electronics, aerospace and aviation, electrical and electronics, telecommunications, medical devices, defense, and other applications.
An increase in demand for metal components in the aviation industry is projected to drive the stamped metal market.Aerospace manufacturers use stamped metal to meet the needs of many specifications.
This technique allows manufacturers to create high-quality precision components that can comply with strict requirements. For example, Wiegel Tool Works has been a trusted manufacturer of metal stamped components for over 77 years for OEM and tier manufacturers in the aerospace industry.
Fluctuations in metal prices are hindering the growth of the stamped metal market.More supply and less demand for commodities in the global market are causing fluctuations in the price of metals.
For instance, according to the pioneer data for 2022, the current high prices of aluminium and nickel are at an average of $2200 /t and $16500 /t in 2021, with marginal deceleration in 2022.Iron ore prices increased by nearly 25% in the first quarter of 2021, owing primarily to unabated Chinese demand.
Therefore, fluctuations in metal pricing are restricting the stamped metal market's growth.
Automation in the stamped metal industry is a key trend driving the growth of the stamped metal market.Automation in the stamped metal industry increases production at lower rates by using advanced technology such as laser cutting, which allows extremely high accuracy and improved output speed.
The use of robotics or automated systems for repeat activities decreases the necessary manpower in the stamped metal industry as the robots can perform a number of processes, such as bending and cutting. North America is expected to grow further in the automation of the stamped metal industry in 2022 due to the existence of major players such as Kenmode Precision Metal and Wisconsin Metal Parts in the region.
In October 2021 , Orlando Spring Corporation, a US-based provider of highly engineered springs, machined parts, wire forms, and other precision components for the aerospace, medical, electronics and defence industries, acquired metal stamping assets of Advanex Americas for an undisclosed amount.This acquisition will significantly expand Orlando Spring's stamping capabilities.
Advanex Americas is a US-based company specializing in precision manufacturing solutions and stamping metals.
The countries covered in the stamped metal market report are Brazil , China , France , Germany , India , Indonesia , Japan , South Korea , Russia , UK, USA and Australia .
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The stamped metal market research report is one of a series of new reports that provides stamped metal market statistics, including stamped metal industry global market size, regional shares, competitors with a stamped metal market share, detailed stamped metal market segments, market trends and opportunities, and any further data you may need to thrive in the stamped metal industry. This stamped metal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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