Metal Stamping Market - Exclusive Report by MarketsandMarkets™
CHICAGO, May 8, 2023 /PRNewswire/ --The report "Metal Stamping Market by Process (Embossing, Blanking, Bending, Coining, Flanging), Material Thickness (≤0.4mm, >0.4mm), Press Type (Hydraulic Press, Mechanical Press, Servo Press), Material, End-Use Industry, Region - Trends and Forecast to 2028", is approximated to be USD 213.8 billion in 2023, and it is projected to reach USD 257.1 billion by 2028, at a CAGR of 3.7%. Growth in the automotive and construction industries, advancements in manufacturing technology, a focus on lightweight materials, and increase in product customization, all have an impact on the metal stamping market. These factors are expected to boost demand for metal stamping products while also encouraging the development of more advanced and efficient metal stamping processes.
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By process, Blanking accounted for the largest share in 2022.
Blanking process is the largest and fastest-growing segment of the market globally, followed by embossing process. Blanking is widely used in the metal stamping industry mainly due to its ability to produce precise, uniform shapes for subsequent manufacturing. The blanking process allows manufacturers to produce parts with consistent dimensions and high accuracy. Another advantage is high production (in terms of quantity) at a low cost.
By material, Steel accounted for the largest share in 2022.
Steel material is preferred for metal stamping because of their high strength and low cost. Stainless steel is popular for metal stamping projects due to its high corrosion resistance, strength, and durability. It offers resistance to various environmental conditions and chemicals, making it suitable for marine and chemical tank applications. Additionally, stainless steel has a high tensile strength that can be further improved through cold working or heat-treating. It is also cost-effective in the long term due to its durability and long lifespan.
By material thickness, ≤0.4 mm material thickness to be the fastest growing during the forecast period.
Materials with thicknesses of ≤0.4 mm are commonly called "thin-gauge materials" in metal stamping. As they are frequently used to create complex and precise parts with high strength-to-weight ratios, thin-gauge materials play a crucial role in metal stamping. High-strength alloys, such as stainless steel or aluminum, are frequently used to produce these materials due to their ability to offer the strength and durability required for the final stamped part. They are usually easier to work with when stamping as they are more elastic and flexible than thicker materials.
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By press type, mechanical press accounted for the largest share in 2022.
Mechanical presses can achieve the highest possible production rates in the market due to their use of flywheels, which store kinetic energy for transfer. The larger the flywheel, the more power it generates. These presses ensure fast and repeatable results with a simple setup and operation. Mechanical presses are less prone to leakage as they do not require hydraulic fluid. However, they are limited in their application due to the lack of variable stroke lengths.
By end-use industry, automotive accounted for the largest share in 2022.
The automotive is the largest end-use industry for the metal stamping market. Automakers can design complex and highly accurate stamping dies using CAD and CAM technologies, which has increased the precision and effectiveness of the stamping process. Metal stamping enables the manufacturing of custom components that fulfill specific design requirements, increasing manufacturing flexibility and versatility. Ultimately, metal stamping significantly impacts the automotive industry since it allows producers to create high-quality components rapidly and cost-effectively, thereby improving the overall efficiency, safety, and safety performance of vehicles.
By region, Asia Pacific accounted for the largest share in 2022.
The metal stamping market has been studied in Asia Pacific, North America, South America, Europe, and Middle East & Africa. Asia Pacific leads the overall metal stamping, followed by Europe. Rapid industrialization and the increasing number of end-use industries in the region will fuel the metal stamping market. The market in China is growing rapidly and is projected to witness high growth due to the demand from the medical and automotive industries. Manufacturers of metal stamping products are targeting this country due to the advantages of setting up production facilities, the low cost of production, and the ability to better serve the local emerging markets.
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Market Players
Major players operating in the metal stamping market include Gestamp Automoción, S.A. (Spain), Arconic Corporation (US), American Axle & Manufacturing Holdings, Inc. (US), CIE Automotive S.A. (Spain), Interplex Holdings Pte. Ltd. (Singapore), AAPICO Hitech Public Company Limited (Thailand), Clow Stamping Company (US), Wiegel Tool Works, Inc. (US), Harvey Vogel Manufacturing Co. (US), ACRO Metal Stamping (US), Boker's, Inc. (US), and Kenmode, Inc. (US) are covered in the metal stamping market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the metal stamping market.
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