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Worldwide metal stamping market to reach US$299.6B by 2025
Source：International Metalworking News for Asia - December 2017
Date Published：12/6/2017 10:12:27 AM
The increasing use of sheet metal in application industries such as automotive, industrial machinery, and consumer electronics is expected to drive industry growth.
Rising number of fabricators in Asia Pacific region is expected to be a key driving factor for the industry. The increasing R&D investment by companies to improve efficiency and operational-ability of stamping machinery is expected to promote growth over the forecast period.
Metal prices have seen constant fluctuations in the past few decades. The growing demand from end-use industries as well as economic growth and its subsequent decline has resulted in volatility in the prices. However, the prices witnessed an overall downfall in the recent past which is expected to aid the use of metal and stamping processes.
The stamping industry is highly competitive with a presence of companies catering to local as well as global market. Players in the industry compete on the basis of service, customised products and expertise in the manufacturing of stamped parts and sign a long-term agreement with the OEMs to ensure constant demand.
Further key findings from the report suggest:
• Blanking is an integral part of the automobile manufacturing chain and is expected to witness significant growth in demand over the forecast period owing to its precise and superior blanking technologies introduced in the industry
• The use of laser embossing for engraving patterns and dates on automotive components and on license plates is expected to augment the demand for the process and is projected to account for 22.2% by 2025
• Metal stamping in automotive application to manufacture auto-body components such as tailgate, trunk lid, door, bonnet, and hood dominated the global market in 2016 and is expected to account for 33.2% of the overall revenue share in 2025
• Consumer electronics is expected grow at a CAGR of 6.0% over the forecast period on account of the growing utilisation of lightweight metal parts to enhance impact resistance of electronic components
• Asia Pacific accounted for 34.8% of the overall revenue share in 2016 on account of the increased production of industrial machinery in Asian countries owing to favorable government initiatives to promote industrialisation
• Companies such as Alcoa have goodwill in the industry; which provides them with the leverage over the local manufacturers and has the ability to cater to the bulk requirements of the major players from application industries