The stamped metal market comprises of sales of stamped metal & related services to convert the flat metal sheets into specific shapes that can be utilized in the metal forming techniques such as blanking, bending, punching, and piercing. Stamped metal is a very simple and cost-effective solution for high-volume manufacturing needs.
According to study, “Stamped Metal Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global stamped metal market are Acro Stamped Metal, Kenmode Precision Stamped Metal, Alcoa, Inc, Manor Tool & Manufacturing Company, Clow Stamping Company, D&H Industries, Lindy Manufacturing Co, Aro Stamped Metal Company, Inc, American Axle & Manufacturing, Martinrea International Inc, Nelson-Miller, Thyssenkrupp, Wisconsin Metal Parts, Inc, Klesk Stamped Metal, Inc, Shiloh Industries, Inc, CIE Automotive, HTT Inc, Brandauer, Magna International Inc, Gestamp. The leading companies are adopting many strategies for instance capacity expansion, mergers & acquisitions (M&A), and innovative product innovation to boost their market positions considering the highly competitive rivalry.
Based on process, stamped metal market is segmented as embossing, blanking, coining, bending, flanging, deep drawing and others. Embossing process segment holds major share in global market owing to its advantages for instance the ability to produce different patterns & sizes, depending on the roll dies. The Blanking segment is expected to witness higher growth rate due to its precise & superior stamping ability during the forecast period. Based on material, market is segmented as copper, aluminum, steel and others. In addition, based on application, market is segmented as industrial machinery, automotive, aerospace & aviation, consumer electronics, telecommunications, electrical & electronics, defense, medical devices and others. Automotive segment includes Light Commercial Vehicles (LCVs), passenger vehicles, buses, heavy trucks and coaches use metal stamping parts in the manufacturing body panels for maintaining the safety standards and controls the end-costs.
The stamped metal market is driven by rise in demand for metal components in the aviation industry. Aerospace manufacturers use stamped metal to meet the requirement of many specifications; this technique allows manufacturers for creating the high-quality precision components that can comply with firm requirement. However, fluctuations in the metal prices may impact the market. Furthermore, automation in the stamped metal industry is a key trend for market that increases the production at cheaper rates by using the advanced technology such as laser cutting, which allows extremely high accuracy & improved output speed. The use of robotics and automated systems for repeat activities decreases the required manpower in the stamped metal industry as the robots can perform several processes, such as bending and cutting.
Based on geography, the Asian-Pacific region holds major share in global stamped metal market owing to increase in demand for cars and growth in consumer electronics in the region. The North-American and European regions are estimated to witness higher growth rate due to rise in demand from the automotive industry and surge in defense industry over the forecast period. It is anticipated that future of the global market will be bright as a result of growth in industrialization coupled with infrastructure development during the forecast period. It is also anticipated that the global stamped metal market will be reached at US $1243.44 billion, by 2023, at a compound annual growth rate (CAGR) of 8.69%
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Ankur Gupta, Head Marketing & Communications