Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Fabricated Metal Market By Metal Type, By Application, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global fabricated metal market was valued at $21.4 billion in 2021 and is projected to reach $34.1 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Key Market Players
- Metals Fabrication Company
- Stanley Black and Decker Inc.
- United States Steel Corp.
- Arconic
- Levstal
- Veriform Inc.
- Kloeckner Metals Corporation
- Illinois Tool Works Inc.
- The Federal Group USA
- Alusite Precision Co., Ltd.
Metal fabrication is the process of sheet metal production and other metal products using CAD software, automation, and machinery. The metal products manufactured through this process are defined as fabricated metal. Steel, aluminum, gold tin, silver, and copper are some metal types that are used to fabricate hand tools, equipment attachments, car parts, cutlery, and others.
The machinery manufacturing and fabricated metal production industry have seen an upsurge in employment since 2020. In addition, coupled with technological developments and growing R&D activities will further foster the growth of the fabricated metal market. CAD software, automation, and machinery solutions are technologies used across metal fabrication.
Key players in metal fabrication use advanced production technologies in order to widen the use of fabricated metal parts across different industrial sectors.
For instance, CAD software plays a crucial role in the design of metal fabrication projects. Technological advancement in CAD software has allowed sheet metal fabricators to design and manufacture fine-tuned parts for demanding applications in aerospace and marine end-use industries. Other factors such as the implementation of automation, emerging market, and growth in demand for additive manufacturing technology is further expected to drive the demand for the fabricated metal market.
For instance, key players in the metal fabrication industry are inclined towards the use of advanced production technologies that tend to cut down production time and cost. Predominantly, metal fabricators use extensive human labor for cutting and welding of fabricated metal parts.
However, technological advancements have allowed metal fabricators to use automated machines for completing cutting and welding of sheet metal parts. This further reduces production time and cost allowing manufacturers to gain maximum profit. For instance, Computer Numerical Control (CNC) is an advanced technology that is used for cutting fabricated metal sheets. CNC is a pre-programmed software that helps to guide the cutting mechanism of fabricated sheets depending upon its intended application.
New key entrants are likely to step back on setting up fabrication facilities. Tools and equipment used for metal fabrication generally cost high. In addition, metal fabrication is a cost-associated technique due to the requirement of post-fabrication process for the manufactured metal parts.
For instance, fabricated metal parts require additional fabrication processes such as de-burring, finishing, and painting that further tend to increase production time and cost. Molten or viscous metals are not suitable to be used for metal fabrication as such metals are not ideal for making advanced shapes depending upon their intended application.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fabricated metal market analysis from 2021 to 2031 to identify the prevailing fabricated metal market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the fabricated metal market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global fabricated metal market trends, key players, market segments, application areas, and market growth Strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 420 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $21.4 billion |
| Forecasted Market Value (USD) by 2031 | $34.1 billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Market Segments
By Metal Type
- Aluminum
- Steel
- Copper
- Magnesium
By Application
- Hand Tools
- Bolts, nuts and screws
- Cans
- Pipe and Pipe Fitting
- Metal Doors and Windows
By End-Use Industry
- Manufacturing
- Building and Construction
- Energy and Power
- Automotive
- Aerospace
- Electrical and Electronics
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/vmvhyy
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