This report describes and explains the metal products market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global metal products market reached a value of nearly $2.73 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 3.69% since 2018. The market is expected to grow from $2.73 trillion in 2023 to $3.62 trillion in 2028 at a rate of 5.77%. The market is then expected to grow at a CAGR of 5.19% from 2028 and reach $4.66 trillion in 2033.
Growth in the historic period resulted from the steady expansion of the automotive industry, increased metal recycling initiatives, expansion of the steel sector, growth in oil and gas exploration and increase in usage of aluminum as a lightweight and cheaper substitute. Factors that negatively affected growth in the historic period include rising raw material prices.
Going forward, rising construction activities globally, increasing urbanization, increasing industrialization across various sectors, an expanding shipbuilding industry, growth in the aerospace sector, growth in heavy equipment manufacturing and growing government initiatives will drive the market. Factors that could hinder the growth of the metal products market in the future include trade tariffs and import restrictions and labor shortages and hiring freezes across industries.
The metal products market is segmented by type into forged and stamped goods, cutlery and hand tools, architectural and structural metals, boiler, tank, shipping container, hardware, spring and wire products, machine shops, turned product, and screw, nut, and bolt, coated, engraved, and heat treated metal products, metal valves and other fabricated metal products. The architectural and structural metals market was the largest segment of the metal products market segmented by type, accounting for 21.88% or $598.95 billion of the total in 2023. Going forward, the other fabricated metal products segment is expected to be the fastest growing segment in the metal products market segmented by type, at a CAGR of 6.69% during 2023-2028.
The metal products market is segmented by metal type into iron, gold, copper, aluminium, nickel and other metal types. The Iron market was the largest segment of the metal products market segmented by metal type, accounting for 39.31% or $1.07 trillion of the total in 2023. Going forward, the iron segment is expected to be the fastest growing segment in the metal products market segmented by metal type, at a CAGR of 6.43% during 2023-2028.
The metal products market is segmented by end-user into construction, manufacturing, aerospace, automotive, energy, medical and other end-users. The construction market was the largest segment of the ship building and repairing market segmented by end-user, accounting for 32.63% or $893.31 million of the total in 2023. Going forward, the construction segment is expected to be the fastest growing segment in the ship building and repairing market segmented by end-user, at a CAGR of 6.53% during 2023-2028.
The metal products market is segmented by manufacturing process into forging, machining, casting, stamping, rolling and extrusion. The machining market was the largest segment of the metal products market segmented by manufacturing process, accounting for 31.83% or $871.31 billion of the total in 2023. Going forward, the machining segment is expected to be the fastest growing segment in the metal products market segmented by manufacturing process, at a CAGR of 5.89% during 2023-2028.
Asia-Pacific was the largest region in the metal products market, accounting for 34.58% or $946.72 billion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the metal products market will be South America and the Middle East, where growth will be at CAGRs of 18.55% and 14.12% respectively. These will be followed by Eastern Europe and Western Europe, where the markets are expected to grow at CAGRs of 5.46% and 4.86% respectively.
The global metal products market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 1.88% of the total market in 2023. Ball Corporation was the largest competitor with a 0.49% share of the market, followed by Stanley Black & Decker Inc with 0.46%, Illinois Tool Works Inc with 0.24%, Techtronic Industries Co Ltd with 0.23%, Assa Abloy AB with 0.20%, Berkshire Hathaway Inc with 0.06%, Snap-on Tools Inc with 0.06%, Toyo Seikan Group Holdings Ltd with 0.05%, AMETEK Inc with 0.05% and China International Marine Containers (Group) Ltd with 0.05%.
The top opportunities in the metal products market segmented by type will arise in the architectural and structural metals segment, which will gain $189.3 billion of global annual sales by 2028. The top opportunities in the metal products market by metal type will arise in the iron segment, which will gain $393.7 billion of global annual sales by 2028. The top opportunities in the metal products market by end-user will arise in the construction segment, which will gain $332.26 billion of global annual sales by 2028. The top opportunities in the metal products market by manufacturing process will arise in the machining segment, which will gain $288.7 billion of global annual sales by 2028.The metal products market size will gain the most in the USA at $81.38 billion.
Market-trend-based strategies for the metal products market include focus on introduction of low-carbon variants in aluminum and nickel to address environmental demands, expanding product accessibility with next-generation metal e-stores, cutting-edge metal additive manufacturing solutions with improved performance and sustainability and introduction of new color-coated steel products with expanded production capabilities.
Player-adopted strategies in the metal products market include focus on strengthening business operations through new product launches and focus on enhancing business capabilities through strategic acquisitions.
To take advantage of the opportunities, the analyst recommends the metal products companies to focus on low-carbon metal products, focus on expanding product accessibility through digital platforms, focus on advanced metal additive manufacturing solutions, focus on advanced color-coated steel products, focus on other fabricated metal products segment, focus on iron segment expansion, expand in emerging markets, focus on expanding distribution channels, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events, focus on construction segment growth and focus on machining segment.
Table of Contents
Executive Summary
Metal Products Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global metal products market as it emerges from the COVID-19 shut down.
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Description
Where is the largest and fastest-growing market for metal products? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The metal products market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider metal products market; and compares it with other markets.
The report covers the following chapters:
- Introduction And Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by metal type, by end-user and by manufacturing process.
- Product Analysis- The product analysis section of the report describes the leading products in the metal products market, along with key features and differentiators for those products.
- Supply Chain -The supply chain section of the report defines and explains the key players in the metal products industry supply chain.
- Customer Information- The chapter covers recent customer trends/preferences in the global metal products market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the metal products market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by metal type, by end-user and by manufacturing process in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size And Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for metal products providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Type: Forged And Stamped Goods; Cutlery And Hand Tools; Architectural And Structural Metals; Boiler and Tank; Shipping Container; Hardware; Spring And Wire Products; Machine Shops; Turned Product; Screw; Nut; And Bolt; Coated; Engraved; Heat Treated Metal Products; Metal Valves And Other Fabricated Metal Products
a) By Forged And Stamped Goods: Iron And Steel Forged Goods; Nonferrous Forged Goods; Custom Roll Formed Goods; Powder Metallurgy Parts; Metal Crown; Closure; Other Metal Stamped Goods
b) By Cutlery And Hand Tools Type: Metal Kitchen Cookware; Utensil; Cutlery; Flatware; Saw Blade And Hand Tool
c) By Architectural And Structural Metals Type: Plate Work And Fabricated Structural Products; Ornamental And Architectural Metal Products
d) By Shipping Container Type: Boiler; Tank; Shipping Container; Power Boiler And Heat Exchanger; Metal Tank (Heavy Gauge); Metal Can; Box; Other Metal Container (Light Gauge)
e) By Hardware Type: Furniture Hardware; Motor Vehicle Hardware; Builder's Hardware; Other Hardware
f) By Spring And Wire Products Type: Springs; Other Fabricated Wire Products
g) By Machine Shops, Turned Product And Screw, Nut And Bolt Type: Machine Shops; Turned Product And Screw, Nut And Bolt
h) By Coated, Engraved And Heat Treated Metal Products Type: Heat Treated Metal Products; Coated, Engraved Metal Products And Allied Services To Manufacturers; Electroplated, Plated, Polished, Anodized And Colored Metal Products
i) By Metal Valves Type: Industrial Valves; Fluid Power Valve; Plumbing Fixture Fitting And Trim; Other Metal Valve And Pipe Fitting
j) Other Fabricated Metal Products Type: Ball And Roller Bearing; Fabricated Pipe And Pipe Fitting; All Other Miscellaneous Fabricated Metal Products
2) By Metal Type: Iron; Gold; Copper; Aluminium; Nickel And Other Metal Types
3) By End-User: Construction; Manufacturing; Aerospace; Automotive; Energy; Medical And Other End-Users
4) By Manufacturing Process: Forging; Machining; Casting; Stamping; Rolling; Extrusion
Key Companies Mentioned: Ball Corporation; Stanley Black & Decker Inc.; Illinois Tool Works Inc.; Techtronic Industries Co. Ltd.; Assa Abloy AB
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; metal products indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes."
Companies Mentioned
- Ball Corporation
- Stanley Black & Decker Inc.
- Illinois Tool Works Inc.
- Techtronic Industries Co. Ltd.
- Assa Abloy AB
- Berkshire Hathaway Inc.
- Snap-on Tools Inc.
- Toyo Seikan Group Holdings Ltd.
- AMETEK Inc.
- China International Marine Containers (Group) Ltd.
- Uyemura & Co. Ltd
- Kennametal Inc.
- Maanshan Iron and Steel Company Limited
- Mitsubishi Electric Corporation
- Mittal Corp Ltd
- Shyam Metalics and Energy Ltd
- Vedanta Aluminium
- Xinyu Iron & Steel Group Co Ltd XISCO
- POSCO
- Baoshan Iron & Steel Co. Ltd
- Hyundai Steel Company
- ArcelorMittal
- Nippon Steel
- JFE Steel Corporation
- Bekaert SA
- Tata Steel Limited
- Kobe Steel Limited
- Baowu steel
- Ningbo BST Metal Products Co Ltd
- Nanjing Hengjie Industrial Co Ltd
- Apex Tools Group
- Akar Tools Ltd
- Channellock Inc
- Thyssenkrupp AG
- Boliden AB
- Akzo Nobel NV
- Suzuki Garphyttan Ab
- Avocet Steel
- SWR Group
- Flowserve
- Timken
- Schaeffler
- Mueller Industries
- Gibraltar Industries
- Liberty Ostrava a.s
- RusAL
- Trinec Iron Works Inc
- Kovona System Inc
- Nornickel
- Alumetal S.A
- Norsk Hydro ASA
- Zakład Przerobu Złomu (Złomex)
- Huta Stalowa Wola S.A
- KGHM Polska Miedź S.A
- TMK Group
- Severstal
- Metalloinvest Management Company LLC
- The Heico Companies
- Nucor Corporation
- Fluent Metal Inc
- Rio Tinto
- Kottler Metal Products
- Summit Utility Structures LLC
- Sovereign Steel Manufacturing
- AK Steel Holding
- Algoma Steel Inc
- Ternium SA
- United States Steel Corporation
- Freeport McMoran Inc
- Alcoa Corp
- Dofasco
- Dynamic Structures
- Integrated Metal Products
- Continental Steel
- Aperam
- Latin Metals Inc
- Boston Electrometallurgical Corporation
- Companhia Siderúrgica Nacional
- Siderca
- Gerdau
- Pramec SAS
- Colfax
- SKF Argentina SA
- Inesa Argentina
- Parana Metal
- Sicamar Metals
- Mitsui and Co
- Vale SA
- Contitech Chile SA
- AL Khaleej Metal Coat LLC
- AL Shafar Steel Engineering
- Ajmal Steel Tubes & Pipes Industries LLC
- Magnus Metal Ltd
- Setraf
- Emirates Consortium LLC
- Emirates Steel Arkan Group
- Eversendai
- Al Jarsh Metal Section Manufacturing
- Alam Steel
- Bosco Group of Companies
- DBMSC Steel FZCO
- Denholm YAM
- Qatar Steel Company
- Gutmann Industries LLC
- Cape Town Iron and Steel Works(pty) Ltd
- Agarwal Metals and Ores (AMO)
- Metatrade Import and Export (Pty) Ltd
- Zambezi Steel
- Melcast Iron and Steel Foundr
- Ghana Integrated Aluminium Development Corporation (GIADEC)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 465 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 2.7 Trillion |
| Forecasted Market Value ( USD | $ 4.7 Trillion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 110 |
