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
Updated on : May 30, 2023
Metal Stamping Market
Metal Stamping Market was valued at USD 213.8 billion in 2023 and is projected to reach USD 257.1 billion by 2028, growing at a cagr 3.7% from 2023 to 2028. The market growth is driven by increasing use of metal stamped in the construction, medical and automotive industries as well as by their increasing demand in the electricals & electronics products. The industrial machinery is the second-largest end-use industry of metal stamping. The industrial machinery industry frequently uses metal stamping to produce a wide range of components crucial to the operation of heavy-duty machinery. Metal stamping is used in industrial machinery to make components, such as gears, bearings, housings, and brackets, of stainless steel, high-strength steel, or aluminum. Metal stamping has a significant advantage in the industrial machinery industry due to its ability to produce customized high-precision, high-strength components in large volumes quickly and cost-effectively.
Attractive Opportunities in the Metal Stamping Market
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Metal Stamping Market Dynamics
Driver: Technological advancements and growing adoption of automation are the major drivers of the metal stamping market.
The metal stamping market is expanding due to technological advancements that have increased manufacturing efficiency, decreased costs, and increased precision and accuracy. For example, computer numerical control (CNC) machines are becoming increasingly common because they can perform tasks with excellent precision and accuracy, including drilling, milling, and turning. These computer-controlled machines can rapidly and effectively produce complex parts and components. Automation has supported the metal stamping industry by improving efficiency, lowering costs, and increasing productivity. It can also help improve consistency. The use of manual labour can be decreased, as automated stamping machines can carry out repetitive tasks quickly and accurately.
Restraint: Fluctuating raw material prices
Raw material price fluctuations can be a considerable restraint for the metal stamping market, affecting the profitability and competitiveness of metal stamping companies. Metal stamping necessitates using various raw materials, including steel, aluminum, copper, and other metals, to produce stamped parts. When the cost of these raw materials increases, the cost of production increases. If metal stamping companies pass on these increased costs to their customers, they may lose business to competitors who can offer lower prices.
Opportunities: Increasing scope of metal stamping in medical industry
The use of metal stamping in the medical industry is significant and increasing rapidly. Metal stamping is widely used in the medical sector to produce precise and high-quality metal parts for medical devices, implantable devices, surgical tools, and diagnostic equipment. The rising demand for minimally invasive surgeries, the increasing geriatric population, the rising prevalence of chronic diseases, and the growing demand for medical implants drive the growth of the medical metal stamping market. The trend toward medical device miniaturization also drives the demand for metal stamping in the medical industry.
Challenges: Lack of standardization
The lack of standardization can cause several challenges for producers and customers. For example, manufacturers struggle to ensure consistent quality across different parts and orders due to a lack of standardization in measuring the quality of stamped parts. Lack of standardized quality control procedures could result in inconsistent product quality, higher rejection rates, and ultimately lower customer satisfaction.
Ecosystem
By Process, Blanking process accounted for the highest CAGR during the forecast period
Blanking is a metal stamping process used to cut sheet metal into a desired shape or size. It is preferred because it allows for high accuracy, speed, material efficiency, versatility, and can be easily automated. Blanking minimizes scrap material, making it a cost-effective process for high-volume production runs.
By Material, Steel material accounted for the highest CAGR during the forecast period
Steel is used in almost every building and construction process due to its lightweight structure, cost efficiency, corrosion resistance, and energy efficiency. Steel is used in almost every type of manufacturing and construction, from surgical equipment to household items. Steel products have a lifespan of about 40 years and are 100% recyclable. Because the magnetic properties remain unchanged, this metal can be recycled continuously. Recycled steel can be used as an input for BF-BOF (Blast Furnace Basic Oxygen Route) and EAP (Electric Arc Furnace) methods, resulting in the production of a variety of new steel products. These factors make the steel most popular material in metal stamping industry.
By Material thickness, ≤0.4 mm accounted for the highest CAGR during the forecast period
Materials with thicknesses of ≤0.4 mm are also known as “thin-gauge materials” in metal stamping Thin-gauge materials combine strength, flexibility, and precision in these applications, making them ideal for manufacturing complex parts with high tolerances and strict dimensional requirements. In addition to being strong and flexible, thin-gauge materials are very cost-effective because they require less raw material. As a result, they are ideal for mass-production applications where cost-effectiveness is critical.
By Press type, Mechanical press accounted for the highest CAGR during the forecast period
Mechanical presses are a versatile and efficient tool for a wide range of metal stamping applications. Mechanical presses are widely used in metal stamping applications due to their high efficiency and ability to apply significant force to the metal. Mechanical presses are commonly used in metal stamping for various operations such as blanking, piercing, forming, coining, embossing, and drawing. They are versatile and efficient tools that can apply significant force to metal and shape it into specific sizes and contours.
By End Use Industry, medical accounted for the highest CAGR during the forecast period
The manufacturing of medical devices, particularly implants, must be carried out with the utmost precision and care to prevent any contaminants or defects, given their use in delicate medical procedures. Due to their sensitive nature, medical devices are manufactured to exceptionally high standards. Metal stamping offers several advantages, such as high precision, fast production, and low cost, making it an attractive manufacturing method for producing medical components in high volumes. Components manufactured via metal stamping include implants, connectors, surgical devices, temperature probes, pump & motor components, equipment housings & sleeves, couplings, fittings, and prosthetics.
North America is projected to account for the highest CAGR in the metal stamping market during the forecast period
The demand for metal stamping is expected to be driven by new product development and product innovation initiatives by the market players in North America. The automotive segment is projected to be the largest end-use industry in the North America. The transition to EVs is gaining traction, with major automakers investing heavily in this area. North America has several major automakers, including General Motors, Ford, and Fiat Chrysler (now known as Stellantis). These companies have a significant presence in the region, with several manufacturing facilities and R&D centres. Aside from automakers, North America has a thriving auto parts manufacturing industry. Many of the world's leading auto parts manufacturers, including Magna International, Linamar, and Martinrea International, have facilities in North America.
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Key Market Players
Metal stamping market comprises key manufacturers such as 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) and others. 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. Major focus was given to the new product development due to the changing requirements of transportation and electronics product consumers across the world.
Metal Stamping Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2023 |
USD 213.8 billion |
|
Revenue Forecast in 2028 |
USD 257.1 billion |
|
CAGR |
3.7% |
|
Years Considered |
2021–2028 |
|
Base year |
2022 |
|
Forecast period |
2023–2028 |
|
Unit considered |
Value (USD Billion) |
|
Segments |
By Process, Material, Material Thickness, Press Type, End-Use Industry and Region. |
|
Regions |
North America, Europe, Asia Pacific, South America and Middle East & Africa. |
|
Companies Covered |
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) and others are covered in the metal stamping market. |
This research report categorizes the global metal stamping market on the basis of process, material, material thickness, press type, end-use industry and region.
Metal Stamping Market, By Process
- Embossing
- Blanking
- Bending
- Coining
- Flanging
Metal Stamping Market, By Material
- Steel
- Copper
- Aluminum
Metal Stamping Market, By Material thickness
- ≤0.4 mm
- >0.4 mm
Metal Stamping Market, By Press Type
- Mechanical
- Hydraulic
- Servo
Metal Stamping Market, By End Use
- Automotive
- Industrial Machinery
- Construction
- Electricals & Electronics
- Aerospace
- Telecommunication
- Medical
Metal Stamping Market, By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
The market has been further analyzed for the key countries in each of these regions.
Recent Developments
- In December 2022, Gestamp Automoción S.A. acquired a 33% strategic stake in Gescrap Group to enhance its ESG (Environmental, Social, and Governance) plan.
- In November 2022, Arconic Corporation completed the sale of its Russian operations to Promyshlennye Investitsii LLC due to increasing uncertainty in light of the current geopolitical environment in Russia.
- In May 2022, Gestamp Hotstamping Japan announced a new plant building on its premises in Matsusaka. The expansion of the Matsusaka plant is scheduled to be operational by June 2023.
- In February 2022, American Axle & Manufacturing Holdings, Inc. invested USD 15 million in Autotech Ventures in a partnership providing access to new opportunities that complement AAM’s mission to develop and produce the industry’s most efficient and powerful electric drivelines.
- In January 2021, Interplex has acquired OCP Group, Inc (OCP), a custom connector and cable assembly design and manufacturer based in San Diego, California, US.
Frequently Asked Questions (FAQ):
What are the major drivers driving the growth of the metal stamping market?
The metal stamping market is expected to witness significant growth in the future due to the growing demand for lightweight materials, growing adoption of automation, technological advancements and growing demand for high-quality, precision parts in end-use industries.
What are the major challenges in the metal stamping market?
The major challenges in the metal stamping market are issues caused by lightweight material usage, global semiconductor shortage, lack of standardization and poor-quality stamping and tool wear.
What are the restraining factors in the metal stamping market?
The major restraining factor faced by the metal stamping market fluctuating raw material prices and trade policies and tariffs.
What is the key opportunity in the metal stamping market?
Industrialization and urbanization in emerging economies and increasing scope of metal stamping in medical industry are key opportunity in the metal stamping market.
What are the end-use industries where metal stamped components are used?
The metal stamped components are majorly used in automotive, industrial machinery, construction, electricals & electronics, aerospace, telecommunication and medical. .
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This research involved using extensive secondary sources and databases, such as Factiva and Bloomberg, to identify and collect valuable information for a technical and market-oriented study of the metal stamping market. Primary sources included industry experts from related industries and preferred suppliers, manufacturers, distributors, technologists, standards & certification organizations, and organizations related to all segments of this industry's value chain. In-depth interviews have been conducted with various primary respondents, such as key industry participants, subject matter experts (SMEs), executives of key companies, and industry consultants, to obtain and verify critical qualitative and quantitative information and assess growth prospects.
Secondary Research
In the secondary research process, various sources such as annual reports, press releases, and investor presentations of companies, white papers, and publications from recognized websites and databases have been referred to for identifying and collecting information. Secondary research has been used to obtain key information about the industry's supply chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, regional markets, and key developments from both market-and technology-oriented perspectives.
Primary Research
The metal stamping market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from the supply and demand sides of the markets have been interviewed to obtain qualitative and quantitative information. The primary participants from the demand side include key opinion leaders, executives, and CXOs of companies in the silicone market. Primary sources from the supply side include associations and institutions involved in the metal stamping industry, key opinion leaders, and processing players.
Following is the breakdown of primary respondents—
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Market Size Estimation
The bottom-up and top-down approaches were used to estimate the metal stamping market by material thickness, press type, process, material, end-use industry, and region. The research methodology used to calculate the market size included the following steps:
- The key players in the metal stamping market were identified through secondary research, and their revenues were determined through primary and secondary research.
- The market size of metal stamping was derived from the aggregation of the market shares of the leading players. The forecast was based on an analysis of market trends, such as pricing and usage of metal stamping in various end-use industries.
- The market size of metal stamping, by region, was calculated using the market sizes of each process in each end-use industry.
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Market Definition
Metal stamping is a manufacturing technique that shapes flat metal sheets or strips into specific forms using a press. It is a complicated process involving various metal-forming techniques. Metal stamping has several advantages, including the capacity to manufacture large quantities of parts rapidly and cost-effectively and the capacity to manufacture complex shapes and designs with extreme accuracy and precision.
Key Stakeholders:
- Senior Management
- Finance/ Procurement Department
- R&D Department
- End user/ Operator
Data Triangulation
After arriving at the overall market size, the overall market was split into several segments. To complete the market engineering process and arrive at the exact statistics for all segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. The market was also validated using both the top-down and bottom-up approaches. It was then verified through primary interviews. Hence, for every data segment, there were three sources — the top-down approach, the bottom-up approach, and interviews with experts. Data were assumed correct only when the values from these three sources matched.
Report Objectives
- To define, describe, and forecast the metal stamping market based on process, material, material thickness, press type, end-use industry, and region
- To forecast the market size, in terms of value, five main regions: Europe, Asia Pacific, North America, the Middle East & Africa, and South America
- To provide detailed information regarding the key factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To analyze competitive developments, such as mergers & acquisitions, product launches, expansions, and partnerships & agreements, in the metal stamping market
- To strategically profile key players and comprehensively analyze their core competencies
Available Customizations:
Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:
Product Analysis:
- Product Matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis:
- Further breakdown of the Rest of the North America metal stamping market
- Further breakdown of the Rest of Europe's metal stamping market
Company Information:
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Metal Stamping Market