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The Metal Stamping Forging and Casting Market is Projected To Reach USD 597.07 billion By 2030, From USD 397.7 billion in 2022,Registering a CAGR Of 5.10% During The Forecast Period 2023-2030| Data By Contrive Datum Insights Pvt Ltd.
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Farmington, May 04, 2023 (GLOBE NEWSWIRE) — The Global Metal Stamping Forging and Casting Market size was valued at USD 397.7 billion in 2022 and is projected to reach USD 597.07 billion by 2030, growing at a CAGR of 5.10% from 2023 to 2030. Key factors driving the growth of this market include expanding the aerospace industry, development of emerging technologies in the metal stamping industry, the benefit of precise metal stamping.
Numerous new technologies used to improve the manufacturing process are one reason for the Metal Stamping industry’s high growth rates. These technologies include 3D printing, robotic assembly, and artificial intelligence, among others (AI). Manufacturers can produce custom-stamped parts more quickly and efficiently than ever before with these technologies.
Request Sample Copy of Report “Metal Stamping Forging and Casting Market Size, Share & Trends Estimation Report By Process (Blanking, Embossing, Bending, Coining, Flanging) By Material Type (Steel, Aluminium, Copper, Other Materials) By Application Outlook (Automotive & Construction, Industrial Machinery, Consumer Electronics, Aerospace, Electrical & Electronics, Telecommunications, Building & Construction, Other Applications) By Press Type (Mechanical Press, Hydraulic Press, Servo Press)By Region, And Segment Forecasts, 2023 – 2030” , published by Contrive Datum Insights.
Segmentation Overview:
By Process:
Process-based market segmentation includes Blanking, Embossing, Bending, Coining, and Flanging. The market for blanking is anticipated to grow at the highest rate during the forecast period, as the demand for customized products increases. The market is subdivided into three submarkets based on the type of tool employed: arc blanking, line blanking, and stamping blanking. The most important process in the Metal Stamping Market will continue to be embossing, followed by bending and coining. During the projected period, the flanging process is anticipated to increase marginally.
By Material:
The market is segmented by Material into Steel, Aluminum, Copper, and Other Materials. The segment of steel is anticipated to constitute the most valuable portion of the market, followed by the segment of aluminum. Copper is anticipated to be the material segment with the fastest growth over the forecast period.
By Application:
The market is segmented into Automotive & Construction, Industrial Machinery, Consumer Electronics, Aerospace, Electrical & Electronics, Telecommunications, Building & Construction, and Other Applications, based on Applications. The majority of the Metal Stamping Market is anticipated to originate from the automotive industry. This is because consumers desire lighter and stronger automobiles, which necessitates the use of high-quality metal components manufactured to exact specifications. In the coming years, the construction industry will likely expand as a result of increased global infrastructure spending. During the period covered by the forecast, industrial machinery sales will generate the majority of the market’s revenue. This is due to the increasing use of stamping technology in cutting, drilling, forging, rolling, and other manufacturing processes.
In the coming years, the demand for industrial machinery is likely to be influenced by the expansion of infrastructure investments in many nations. In contrast, consumer electronics will be one of the fastest-growing segments of the Metal Stamping Market over the next five years. Daily-used consumer electronics include smartphones, televisions, automobiles, and wristwatches. These devices are typically smaller and less expensive than industrial machinery. The aerospace industry also contributes to the expansion of the Metal Stamping Market segment. This market is anticipated to grow at a CAGR of 7.7% from 2021 to 2028. In the coming years, the aerospace and electrical and electronics industries are also anticipated to expand significantly. This is because the demand for landing gears, engine parts, and other electronic devices will increase. Due to the increasing demand for wireless devices and sensors, it is anticipated that the telecommunications application segment will grow faster than other application segments.
By Press Type:
The market is segmented by Press Type into Mechanical Press, Hydraulic Press, and Servo Press. The mechanical press is likely to experience the greatest growth between 2021 and 2028 due to its low cost and ease of use. Because it is more complicated and more expensive, the hydraulic press is anticipated to experience slower growth. The servo press is anticipated to grow the most because it can quickly change dies and move with high precision.
Regional Analysis:
With a share of over 45.0%, Asia-Pacific made more money than any other region in the world from metal stamping, forging, and casting. Because industries such as aerospace and defense, automotive, and electronics are using more and more, the region is anticipated to grow significantly. China has become a major producer and consumer of these goods in the region due to its large steel production base and other factors such as low labor costs. This is contributing to the nation’s industrial growth. Europe was analyzed as a result of high demand from a variety of vital industries, including energy and power. During the forecast period, the production of consumer goods is anticipated to be the primary driver of regional product consumption.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.1% from 2023 to 2030. |
| Revenue Forecast by 2030 | $597.07 billion |
| By Process |
|
| By Material |
|
| By Application |
|
| By Press Type |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
- The Availability of Plastic and Composite Materials
The availability of plastic and composite materials as substitutes is a significant factor inhibiting market expansion. As a result of their lightweight and corrosion-resistant properties, plastic and fiber are increasingly replacing metals in a variety of industrial product components. For example, the automotive industry uses plastic to produce a variety of exterior vehicle components, including beams, body panels, floor panels, air ducts, and resonators, among others.
Plastics can be molded into complex shapes and have lower production costs than metal. End-user preference for reusable plastics, which have longer useful lives than disposable metal devices, is also on the rise. Plastics can withstand stresses and last longer than metallic devices due to their structural integrity and malleability, whereas metallic devices deteriorate due to interference from organic compounds. Consequently, the increasing preference for plastic materials across industries has reduced the demand for metals, which will have a negative impact on the growth of the global market during the forecast period.
Opportunity Analysis:
- Demand for Customized Metal Stampings is Rising
One of the primary reasons for the expansion of the Metal Stamping industry is the rising demand for custom-made stamped parts. Customers desire unique, one-of-a-kind products that meet their needs, so manufacturers are producing a greater number of stamped parts that are customized. This trend is likely to continue over the next few years as companies continue to invest in research and development (R&D) and create new products that better meet customer needs.
Key Segments Covered:
Top Market Players:
- Alcoa Inc.
- American Axle & Manufacturing Holdings Inc.
- Anchor Lamina Inc.
- Bharat Forge Limited
- Doncasters PLC
- Georg Fischer Ltd.
- Interplex Holdings Ltd.
- Magna International Inc.
- Meridian Lightweight Technologies Inc.
- Metaldyne Corporation
- Others
By Process:
- Blanking
- Embossing
- Bending
- Coining
- Flanging
By Material:
- Steel
- Aluminium
- Copper
- Other Materials
By Application:
- Automotive & Construction
- Industrial Machinery
- Consumer Electronics
- Aerospace
- Electrical & Electronics
- Telecommunications
- Building & Construction
- Other Applications
By Press Type:
- Mechanical Press
- Hydraulic Press
- Servo Press
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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- Insulation Market– In 2022, the global insulation market was estimated at USD 52.5 billion; between 2023 and 2030, that number is expected to grow to USD 72.6 billion, or a CAGR of 6.7%.
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Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
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X.1281 is at publication stage and can be accessed here: https://www.itu.int/ITU-T/workprog/wp_item.aspx?isn=18778
OSIA v6.1.0. twin specification can be accessed here: https://osia.readthedocs.io/en/v6.1.0/index.html
OSIA qualification programme can be accessed here: https://globalplatform.org/osia-qualification-program/
For more information on the Secure Identity Alliance and the OSIA Initiative, visit http://www.secureidentityalliance.org and www.osia.io
For more information on ITU-T SG 17 visit https://www.itu.int/en/ITU-T/studygroups/2022-2024/17/Pages/default.aspx.
About the Secure Identity Alliance:
Secure Identity Alliance (SIA) is a global non-profit association that serves as the voice for public and private actors and organizations active in the secure identity ecosystem and adjacent industries. SIA’s mission is to unlock the full power of identity so that people, economy, and society thrive. The association supports the development of the activities of its members across four broad pillars: Identity for Good, Outreach, Open Standards Development and Industry Services and Solutions. www.secureidentityalliance.org
About OSIA:
A digital public good, OSIA is an open standard set of interfaces (APIs) that enables seamless connectivity between building blocks of the identity management ecosystem – independent of technology, solution architecture or vendor. More information at www.osia.io
Follow the Secure Identity Alliance at on X @secureidentity1 and LinkedIn at https://www.linkedin.com/company/secure-identity-alliance/
About ITU-T SG 17
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For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Certified Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
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