Metal Forming Market Report 2025

The metal forming market size has grown steadily in recent years. It will grow from $198.27 billion in 2024 to $205.32 billion in 2025 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to automotive industry growth, materials innovation, demand for lightweight materials, globalization of manufacturing, energy and power industry expansion, replacement and upgradation cycles.

The metal forming market size is expected to see steady growth in the next few years. It will grow to $247.6 billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to rise of electric vehicles (EVs), sustainable manufacturing practices, demand for high-strength materials, renewable energy infrastructure projects, global supply chain resilience. Major trends in the forecast period include industry 4 integration, advanced materials and alloys, microforming technologies, digital twin technology, customization and flexible manufacturing, human-robot collaboration.

The anticipated growth of the metal-forming market is expected to be propelled by the upswing in the automotive industry. The term "automotive industry" encompasses businesses engaged in the manufacturing, distribution, retail, and maintenance of automobiles. Metal forming plays a crucial role in this industry, contributing to the production of various components such as body and chassis components, engine parts, suspension components, and exhaust system components. A notable example is the reported 7.4% increase in the UK's car production, reaching 69,524 units, as indicated by the Society of Motor Manufacturers and Traders (SMMT) in November 2022. Additionally, the European Automobile Manufacturers' Association (ACEA) reported a surge in the sales of passenger cars in the U.S. to 11.9 million units in 2021, highlighting the growth of the automotive sector on a global scale. Consequently, the flourishing automotive industry is a driving force behind the growth of the metal-forming market.

The rising demand in the construction industry is expected to drive the growth of the metal-forming market in the future. The construction industry, often called the building or construction sector, includes a wide array of activities related to the planning, design, development, and construction of structures, facilities, and infrastructure. Metal forming processes are crucial in this industry, providing structural strength, design flexibility, weight efficiency, durability, longevity, recyclability, fire resistance, pest and mold resistance, as well as precision and consistency. For instance, a report from The Office for National Statistics in November 2023 revealed that total new construction work output increased by 15.8% in 2022, reaching a record value of £132.98 billion ($172,401 million). Thus, the growing demand in the construction industry is fueling the expansion of the metal-forming market.

A prominent trend in the metal-forming market is the adoption of technological advancements. Major companies in the market are embracing new technologies to maintain their competitive edge. For example, Desktop Metal, a U.S.-based technology company specializing in 3D printing systems, introduced Figure G15 in September 2022. This innovation employs digital sheet forming (DSF) technology, offering high precision and a flexible, incremental forming approach. Manufacturers in various industries, including automotive and aerospace, can benefit from this technology by achieving efficient metal-formed parts in less than an hour without significant time or financial commitments.

Major companies in the metal forming market are concentrating on innovative products like sheet drop tests to enhance their simulation capabilities and improve material performance. Sheet drop tests are experimental assessments designed to evaluate the impact resistance and performance of sheet metal materials under sudden drop conditions. For example, in October 2024, ETA, a US-based company, introduced Dynaform 7.2, a sheet metal forming simulation software that incorporates advanced features such as machine learning algorithms and improved sheet drop testing functionalities. This new software allows manufacturers to more accurately predict how sheet metal will react to impact forces, ultimately resulting in better product designs, reduced material waste, and increased durability in final products.

In December 2022, Torque Capital Group, a U.S.-based private equity firm, acquired Metal Forming & Coining Corporation (MFC Netform), a manufacturer of advanced metal-formed components, for an undisclosed amount. Through this acquisition, Torque Capital Group aims to facilitate Metal Forming & Coining Corporation's growth and improvement in technology, people, and capabilities within the metal-forming market.

Major companies operating in the metal forming market include Benteler International AG, Toyota Boshoku Corporation, Magna International Inc., Hirotec Corporation, Tower International, Aisin Corporation, CIE Automotive, Bradbury Group, Formtek Moulding Solutions, Mestek Machinery, VNT Automotive GmbH, Westway Machinery, AES Automotive Company Pvt. Ltd., Samco Machinery, Mills Products Inc., Luxfer Group, PMF Industries Inc., PECTEC Corporation, Corrugated Metals Inc., Paramount Roll & Forming Inc., Miro Manufacturing Inc., BROT Incorporated, Jorgenson Metal Rolling & Forming Inc., Southern Metal Fabricators Inc., Delta Steel Inc., Metalspun Products Co. Inc., SEPAC Inc., Roderick Industries Inc., QCMI Corp., O'Neal Manufacturing Services, BTD Manufacturing Inc.

Asia-Pacific was the largest region in the metal forming market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global metal forming market during the forecast period. The regions covered in the metal forming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal forming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Metal forming is the process by which metals undergo shaping and alteration using compressive forces to achieve desired size and shape while changing their physical and chemical properties. This method is widely employed to produce metal parts and elements for various industries.

The primary types of metal forming are cold forming, hot forming, and warm forming. Cold forming is a high-speed forging process where metal is precisely sheared to length from coiled wire at room temperature. It is then moved through a series of tool and die cavities to alter its diameter, length, or remove small amounts of material through trimming or piercing. Cold forming is utilized to shape metal materials at or near room temperature, enhancing tensile strength while allowing intricate manipulation. Key materials used include steel, aluminum, magnesium, among others, employing techniques such as roll forming, stretch forming, stamping, deep drawing, hydroforming, and others. Applications span various end-users, including automotive, transportation, industrial machinery, construction, precision engineering, and more, for components such as body in white (BIW), chassis, closures, and others.

The metal forming market research report is one of a series of new reports that provides metal forming market statistics, including metal forming industry global market size, regional shares, competitors with a metal forming market share, detailed metal forming market segments, market trends and opportunities, and any further data you may need to thrive in the metal forming industry. This metal forming 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 metal forming market includes revenues earned by entities by providing prototyping, punching, bending, welding, forging, casting and rotary swaging. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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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