Stamped Metal Global Market Report 2024

The stamped metal market size has grown strongly in recent years. It will grow from $464.27 billion in 2023 to $498.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed during the historical period can be attributed to factors such as industrialization and the growth of manufacturing, the expansion of the automotive industry, advancements in stamping technology, the demands arising from world wars and defense needs, as well as the effects of urbanization and construction.

The stamped metal market size is expected to see strong growth in the next few years. It will grow to $644.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to a focus on sustainability and eco-friendliness, the ongoing electric vehicle (EV) revolution, the impact of 5G technology and electronics, the development of renewable energy infrastructure, and innovations in the aerospace sector. Notable trends expected during the forecast period encompass an emphasis on customization and design flexibility, the use of advanced materials and alloys, the integration of automation and robotics, the adoption of digitalization and Industry 4.0 practices, and the reconsideration of reshoring and supply chain resilience.

The stamped metal market is expected to see growth due to an increased demand for metal components in the aviation industry. Aerospace manufacturers rely on stamped metal to meet various specifications, allowing them to produce high-quality precision components that adhere to strict requirements. For example, Wiegel Tool Works has been a trusted manufacturer of metal stamped components for over 77 years, serving OEM and tier manufacturers in the aerospace industry.

The primary process types in the field of stamped metal manufacturing encompass blanking, embossing, bending, coining, deep drawing, flanging, and various other processes. Blanking, for instance, is a metal production process in which a metal workpiece is separated from the main metal strip through punching. The materials used in metal stamping include steel, aluminum, copper, and other metals. These techniques find applications in a variety of industries, including automotive, industrial machinery, consumer electronics, aerospace and aviation, electrical and electronics, telecommunications, medical devices, defense, and various other industrial applications.

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.

The rising demand for consumer electronics is anticipated to drive the growth of the stamped metal market. Consumer electronics encompass a wide range of products designed for entertainment, productivity, communication, and convenience, including smartphones, laptops, televisions, audio devices, gaming consoles, and various home appliances. Stamped metal plays a crucial role in creating casings, precise components, and custom parts for consumer electronics, aligning with the market's focus on durability, cost-efficiency, and miniaturization. For instance, in January 2023, LG, a South Korea-based consumer electronics company, reported record-breaking annual revenue in 2022, with sales surpassing $60 billion, marking a 12.9% increase from 2021. The LG Home Appliance & Air Solution Company also achieved a record-breaking year with $22.5 billion in revenue, up 10.3% from the previous year. Therefore, the growth in consumer electronics is a driving force in the stamped metal market.

Fluctuations in metal prices present a challenge to the growth of the stamped metal market. Global supply and demand dynamics impact metal prices, leading to price fluctuations. For instance, data from 2022 indicates that high aluminum and nickel prices in 2021 averaged around $2200/ton and $16500/ton, with a slight deceleration in 2022. Iron ore prices surged by nearly 25% in the first quarter of 2021, driven by strong Chinese demand. These metal price fluctuations pose constraints on the growth of the stamped metal market.

Automation in the stamped metal industry is a prominent trend propelling the growth of the stamped metal market. Automation in this industry enhances production efficiency through technologies like laser cutting, which offers high precision and increased output speed. The use of robotics or automated systems for repetitive tasks reduces the need for manual labor in the stamped metal industry, as robots can perform various processes, including bending and cutting. North America, with key players like Kenmode Precision Metal and Wisconsin Metal Parts, is poised for further automation in the stamped metal industry in 2022.

Major companies operating in the stamped metal market are focusing on developing innovative products, such as metal stamping simulation software, to gain a competitive edge. Simulation software allows users to model and analyze real-world systems or processes in a virtual environment. For example, in April 2022, Ansys Inc., a U.S.-based software development company, launched Ansys Forming, a metal stamping simulation software powered by Ansys LS-DYNA. This comprehensive tool offers feasibility analysis, formability assessment, and springback prediction, streamlining metal manufacturing processes, increasing productivity, and delivering precise results.

In October 2021, Orlando Spring Corporation, a U.S.-based provider of highly engineered springs, machined parts, wire forms, and precision components for the aerospace, medical, electronics, and defense industries, acquired the metal stamping assets of Advanex Americas to significantly expand its stamping capabilities. Advanex Americas is a U.S.-based company specializing in precision manufacturing solutions and metal stamping.

Major companies operating in the stamped metal market include Alcoa Corporation, Manor Tool & Manufacturing Company, Acro Stamped Metal Products Inc., Kenmode Precision Metal Stamping, Clow Stamping Company, Aro Metal Stamping Company Inc., D&H Industries Inc., Lindy Manufacturing Co., American Axle & Manufacturing Holdings Inc., Nelson-Miller Inc., Thyssenkrupp AG, Martinrea International Inc., Wisconsin Metal Parts Inc., Shiloh Industries Inc., Klesk Stamped Metal Inc., CIE Automotive S.A., Magna International Inc., Gestamp Automoción S.A., HTT Inc., Brandauer Holdings Limited, Harvey Vogel Manufacturing Co., Trans-Matic Manufacturing Company Inc., ODM Tool & Manufacturing Co. Inc., Tempco Manufacturing Company Inc., Ramcel Engineering Company, Stamped Products Inc., Acro Metal Stamping Co., Atlas Stamping and Manufacturing Co. Inc., Lake Air Companies

Asia-Pacific was the largest region in the stamped metal market in 2023. Western Europe was the second largest region in the stamped metal market analysis. The regions covered in the stamped metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the stamped metal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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