The Metal Stampings Market size is projected to be worth USD 419.7 billion in 2023. The market is likely to surpass USD 635.8 billion by 2033. According to Future Market Insights (FMI), the market is expected to surge at a CAGR of 4.2% during the forecast period.
The burgeoning consumer electronics sector is likely to present prominent demand based on the adoption of metal frames in headsets, mobile phones, speakers, gamepads, and controllers. In phones, metal stamping is often used in the manufacture of chassis, antennas, and camera lens mounts because it offers high tolerances, electrical conductivity, corrosion resistance, and finishes.
As per the International Energy Agency (IEA), worldwide sales of electric vehicles (EVs) have exceeded 3.4 million units, with more than 14% by 2022. Government initiatives, such as subsidies for electric cars given to local producers to support the development of electric vehicles are key aspects responsible for the increase in production.
These include the frame, internal and external structures, and driveway components. This, in turn, is projected to drive the growth of the market through the forecast period.
According to the GSM Association, the sum of mobile subscribers globally was 5.7 billion in 2021 and this sum is rising at a rate of 1.8% per year. This will likely boost demand for mobile and possibly metal stamping in the approaching years.
The United States is a leading player in the industry. Though it should be noted that the emergence of COVID-19 and succeeding temporary lockdowns across the country have affected industry performance. Downstream demand from key segments including aerospace, automotive, industrial machinery, and others has been disrupted due to supply chain challenges and exhausted demand from customers.
The situation has regularized as vaccination rates increase rapidly. The rising demand for metal stamping in the United States has forced manufacturers to expand their facilities.
Market development may be hampered as automakers are replacing metals with carbon and plastic fiber as they contribute to vehicle weight reduction. A 10% of reduction in vehicle weight leads to a surge in fuel efficiency from 5% to 7%.
In the United States, for instance, changes to the Corporate Average Fuel Economy (CAFE) regulation that aim to improve fuel efficacy are encouraging the custom of these substitutes in automobiles, thus, potentially hampering the metal stamping market.
| Attribute | Details |
|---|---|
| Metal Stampings Market Estimated Size (2023) | USD 419.7 billion |
| Projected Market Value (2033) | USD 635.8 billion |
| Value-based CAGR (2023 to 2033) | 4.2% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Metal stamping has its origins in ancient civilizations where simple tools were used to make metal objects over stamping and casting techniques. Early forms of metal stamping involved hand tools and dies.
The industrial revolution in the late 18th and 19th centuries marked an important turning point in the field of metal stamping. The advent of the steam engine and advanced pressing technology led to the possibility of mass production, making metal stamping an important part of industrial production.
Through the 20th century, advances in stamping technology sustained to drive the metal stamping industry. Hydraulic and mechanical presses enabled faster and more effective metal stamping.
With the expansion of industrialization, metal stamping has found applications in several sectors, including aerospace, electronics, automotive, construction, and home appliances. The adaptability of metal stamping has made it an important process for the production of parts in diverse fields.
In the second half of the 20th century, the addition of computer numerical control (CNC) technology created a revolution in metal stamping. CNC machines allow precise and automatic control of the stamping procedure, improving correctness and repeatability.
Over time, the metal stamping dies market has modified to the use of advanced materials, counting high-strength alloys, stainless steel, and aluminum, to meet the changing needs of industries.
With the progression of technology, metal stamping businesses are increasingly adopting automation, robotics, and Industry 4.0 principles. These innovations have improved efficacy, reduced costs, and expanded production capabilities.
The metal stamping market has become globalized, with businesses operating in several different regions to access diverse markets and cost-effective manufacturing options. This globalization has led to augmented competition in the market and the need for firms to differentiate themselves through quality, customization, and specialization.
In recent years, sustainable and environmentally friendly development activities have been increasingly focused. Metal stamping companies are approving greener manufacturing processes and discovering the use of recycled materials to comply with environmental guidelines and customer preferences.
The metal stamping market grew at a CAGR of 5.7% from 2018 to 2022, according to FMI.
Principal Consultant
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Metal Stampings Market:
| Attributes | Metal Stampings Market |
|---|---|
| CAGR (2023 to 2033) | 4.2% |
| Market Value (2033) | USD 635.8 billion |
| Key Trends | The adoption of Industry 4.0 technology and automation can greatly improve the productivity and efficiency of metal stamping operations. |
| Opportunity | With growing environmental awareness, the demand for sustainable and eco-friendly solutions is increasing. Metal stamping companies are exploring the use of recycled materials and adopt greener manufacturing procedures to align with sustainability goals. |
Metal Stampings, Forgings, and Castings Market:
| Attributes | Metal Stampings, Forgings, and Castings Market |
|---|---|
| CAGR (2023 to 2033) | 5.7% |
| Market Value (2033) | USD 818 billion |
| Key Trends | The aerospace and defense sectors require high-performance, durable, and reliable components. Forging and casting are especially important for aerospace applications where strength and structural integrity are paramount. |
| Opportunity | Industries such as electronics, medical devices, and aerospace require more complex metal components. Stamping, forging, and casting parts are adapted to meet these precision requirements through advanced manufacturing techniques. |
Steel Pipe Market:
| Attributes | Steel Pipe Market |
|---|---|
| CAGR (2023 to 2033) | 3.9% |
| Market Value (2033) | USD 143.50 billion |
| Key Trends | Rapid urbanization in developing markets is driving demand for residential and commercial construction. Steel pipes are used in building structures and plumbing, creating opportunities for suppliers in the construction sector. |
| Opportunity | The government and private sector continue to invest in infrastructure growth, including pipelines, water supply networks, and construction projects. Steel pipes are widely used in these projects, which is driving the demand in the steel pipe market. |
| Country | The United States |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 127.2 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.2% |
The metal stamping industry in the United States is expected to reach USD 127.2 billion by 2033, growing at a CAGR of 4.2%.
The United States has a great presence of automobile manufacturers, which will likely increase demand for metals such as aluminum, steel, and iron, which are the common metals used in the sector.
According to the American Automobile Policy Council, the automotive sector is the leading manufacturing sector in the United States. The manufacturing plants of key automakers including Ford, Chrysler, and General Motors are located in the region. These companies are making strategic investments in the market to support their future projects.
For instance, in November 2021, General Motors announced an investment of more than USD 46 million in a metal stamping plant in Parma, Ohio to expand equipment upgrades and lay the groundwork for the facility to support future product programs.
The United States has a key presence in the automotive stamping industry, which is witnessing a large expansion of the industries nationwide.
For instance, in July 2020, Challenge Manufacturing announced the acquisition of the Great Lakes Metal Stamping site in Cusseta, Alabama. This acquisition has allowed the former company to expand its presence in the Southeast. The company has grown over the past four decades with 3,500 employees at 10 locations in the United States and Asia.
The United States is the leading market in North America. The growth rate of the automotive metal stampings in Latin America, the Middle East, and Africa is currently low due to the decline in vehicle consumption and production in these countries. However, the industry is expected to surge significantly in the next few years.
| Country | South Korea |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 30 billion |
| CAGR % 2023 to End of Forecast (2033) | 3.8 % |
The metal stampings market in South Korea is expected to reach a market share of USD 30 billion, expanding at a CAGR of 3.8% during the forecast period.
Key factors fueling sales in South Korea includes:
End-use Sectors: South Korea's metal stamping market caters to a wide range of sectors, including automotive, electronics, home appliances, construction, and aerospace. The country's strong manufacturing sector is driving demand for metal stamping parts in several applications.
Electronics and Appliances: South Korea's electronics and appliance sectors are also heavily dependent on metal stamping for the production of parts such as connectors, brackets, and housings. As a leading nation in the electronics sector, Korea's demand for precision metal components is huge and is rising constantly.
Technological Advancements: Korea's metal stamping industry has kept stride with technological advancements, combining modern machinery, automation, and computerized numerical control (CNC) systems to improve productivity and maintain high-quality standards.
Export Opportunities: The metal stamping market in Korea has benefited from export opportunities. Korea-based manufacturers export metal stamping components to several countries, leveraging their know-how in precision manufacturing.
Increasing Focus on Green Production: As ecological concerns increase globally, Korean metal stamping businesses are focusing on sustainable and eco-friendly engineering practices, including energy-saving and the use of recyclable materials.
Strong Industrial Base and Skilled Workforce: South Korea's well-established trade infrastructure and skilled workforce contribute to the development and competitiveness of the metal stamping market.
Constant Innovations: Korean metal stamping businesses invest in research and growth to stay ahead of the game in terms of technology, materials, and product service.
Based on application, the automotive and transportation segment is expected to continue dominating the metal stampings industry with a CAGR of 3.8% from 2022 to 2033.
Metal stamping plays an important role in the automotive and transportation sectors, providing a wide range of components and parts used in vehicles and transport equipment. This industry relies heavily on metal stamping for the accuracy, efficiency, and cost savings it offers in the production of complex, high-volume parts.
Key applications of metal stamping in the automotive and transportation industries include:
Metal stamping is a central process in the automotive and transportation sectors, allowing the production of critical parts necessary for vehicle function, safety, and performance. As the automotive sector endures to evolve with technological advancements and changing market demands, metal stampings will likely remain a key determinant in meeting these challenges efficiently and effectively.
The global market is fiercely competitive with the presence of several large and small-scale players in the sector. Local players compete with global caterers based on personalized products and services.
Local players can deliver personalized customization services to their customers and can provide standardized goods to key industrial machinery manufacturers, automotive OEMs, and home manufactures of consumer electronics.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 419.7 billion |
| Projected Market Valuation (2033) | USD 635.8 billion |
| Value-based CAGR (2023 to 2033) | 4.2% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Regions Covered | Latin America; North America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Market Segments Covered | Process Type, Application |
| Key Companies Profiled | A.D. LIVNICA KIKINDA; A.W. Bell Pty., Ltd.; A/S Secure Aluminium Casting & Machining; AB A Bergmans Gjuteri & Mek. Verkstad; AB Bruzaholms Bruk |
| Pricing | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The metal stamping market grew at a CAGR of 5.7% from 2018 to 2022.
A.D. LIVNICA KIKINDA, A.W. Bell Pty., Ltd., and AB Bruzaholms Bruk are key market players.
Antioxidants in pharmaceuticals to push the segment growth at 6.6% CAGR from 2023 to 2033.
The market is valued at USD 419.7 billion in 2023.
The market is estimated to reach USD 635.8 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Process Type 5.1. Blanking 5.2. Embossing 5.3. Bending 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Automotive & Transportation 6.2. Industrial Machinery 6.3. Consumer Electronics 6.4. Aerospace 6.5. Electrical & Electronics 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. A. Stebler AG 17.2. A.D. LIVNICA KIKINDA 17.3. A.W. Bell Pty., Ltd 17.4. A/S Secure Aluminium Casting & Machining 17.5. AB A Bergmans Gjuteri & Mek. Verkstad 17.6. ACCIAIERIE VALBRUNA S.p.A. 17.7. AB Bruzaholms Bruk 17.8. Accurate Forming 17.9. AccuTrex Products, Inc 17.10. ACE Stamping & Machine Co., Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
Industrial Automation
May 2023
REP-GB-17258
306 pages
Explore Industrial Automation Insights
View Reports
Metal Stampings Market
