Metal Stamping Market Size

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Metal Stamping Market Size

The global metal stamping market size was valued at USD 224.20 billion in 2018 and is expected to witness a CAGR of 4.2% from 2019 to 2025. Growing use of sheet metal in the manufacturing of automotive transmission components, chassis, and structural components is projected to drive the market. In addition, increasing disposable income supported by growing population has resulted in rapid urbanization, especially in the developing countries of Asia Pacific, Middle East & Africa, and Latin America.

This is expected to fuel the automotive demand over the forecast period, thereby propelling the market growth. Developing economies, such as India, China, South Africa, and Brazil, are expected to be the prominent countries in their respective regional markets over the coming years.nail drill on natural nails

Automotive manufacturers in the Asia Pacific region are concentrating on expansion of their production capacities. Government policies regarding the investment liberalization is projected to make good impact on the region’s automotive sector. Policies to help strengthen the presence of major companies in India and China are also assisting the regional market growth.

However, volatility in metal prices is affecting the demand-supply balance. During the period of December 2014 to December 2017, prices declined by nearly 2%. Sluggish global economic markets also had a spillover effect on the global industrial scenario. Thus, decreasing metal prices is projected to critically impact the market growth during the forecast period.Blanking accounted for the largest market share in 2018 and is anticipated to be the fastest-growing segment with a CAGR of 4.6% during forecast years. Benefits offered by this process, such as greater dimensional accuracy and fast production rate, are projected to contribute to its demand. This technique is utilized in customized stamped parts that are made to build complex panels in automobiles. The technique is also used in the manufacturing hinges, small joints, and for cutting a hole or any desired shape in a component.

Embossing is expected to witness a significant growth in the Asia Pacific region owing to large-scale manufacturing of automotive components. The embossing segment is also likely to witness growth in North America market on account of the presence of several stamping companies and OEMs in the region. Growing scope of application, such as embossing of dashboards in premium cars industry, is to remain a key contributor in the segment growth.