Ottawa, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global metal stamping market size accounted for USD 207.4 billion in 2023, grew to USD 215.28 billion in 2024 and is projected to surpass around USD 263.18 billion by 2029.
The metal stamping market is driven by the automobile industry's increasing use of lightweight materials like aluminum. Asia Pacific led the market with the highest market share of 36% in 2022.
Metal stamping is a manufacturing method that forms flat sheet metal into the required shape using a strong press and specialized dies. It is comparable to cutting dough with a cookie cutter but requires far more effort and accuracy. Metal stamping is a process used to give flat metal sheets precise forms and shapes. This flexible manufacturing method finds extensive use in various fields. For instance, it can accurately and consistently form metal into shapes ranging from simple to highly complex. This makes it feasible to create complex curves, bends, and details that would be challenging or impossible to accomplish with conventional techniques. It is excellent at creating large numbers of identical parts economically and efficiently.
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Stamping can strengthen certain metal sheet sections since the procedure hardens the material. For components that must endure pressure or stress, this may be crucial. Furthermore, by using precision cutting and forming techniques, it reduces material waste. This lowers the price of raw materials and promotes environmental sustainability.
- In December 2023, Ford Motor was forced to reopen several of its vital plants after a protracted workers' strike that affected car production, which resulted in a 0.5% decline in new car sales in the United States for November. Sales of Ford's electric cars, including the Mustang Mach-E and F-150 Lightning pickup truck, increased 43.2% to 8,958 units over the previous year. Carmaker stock increased 1.4% during afternoon trading.
- In November 2023, The American automaker Ford's South African division would invest 5.2 billion rand ($281 million) to build a hybrid car in the nation, as it asked the government to expedite the development of an electric vehicle legislation. The auto industry generates approximately 100,000 jobs and 5% of South Africa's GDP, which primarily exports 75% of cars to European nations.
Key Insights:
- The blanking segment is expected to dominate the market during the forecast period.
- The steel stamping segment is expected to dominate the market share over the forecast period.
- The mechanical press segment is expected to dominate the market share over the forecast period.
- The automotive segment is expected to capture most of the market share over the forecast period.
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Metal Stamping Market Scope
| Report Coverage | Details |
| Global Market Size in 2023 | USD 207.4 Billion |
| Global Market Size by 2032 | USD 300.34 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 4.20% |
| Asia Pacific Market Size in 2023 | USD 72.01 Billion |
| Asia Pacific Market Size by 2032 | USD 125.85 Billion |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Process, Material, Application, Press Type, Region |
| Region Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Regional Stance:
Asia Pacific is expected to have the majority of the market share in metal stamping over the forecast period. Massive demand for manufactured products, such as automobiles, electronics, and appliances, is fueled by rapidly expanding economies like China and India. Therefore, metal-stamp components are in greater demand. Like cars and electronics, it depends significantly on metal stamping by developed supply channels and knowledge.
Several Asian countries aggressively support the manufacturing industry by offering tax benefits, subsidies, and investment-attracting programs. The pro-business atmosphere encourages metal stamping to expand even further.
- In December 2022, China's motor automobile manufacturing was recorded at 27,020,615.000 units.
- In December 2023, South Korea has become a premier hub for information and communication technologies worldwide. Leading international electronics and IT firms, including Samsung Electronics, SK Hynix, LG Electronics, and Naver, are based in the nation thanks to its state-of-the-art ICT infrastructure, which boasts the fastest internet speeds in the world and a tech-aware consumer base. It invests significantly in cutting-edge technologies like cybersecurity, big data, quantum computing, artificial intelligence, next-generation networks, and sophisticated semiconductors. As a result, these variables are expected to boost the expansion of metal stamping in the area during the projected period.
- In July 2023, Nissan Motor of Japan increased its full-year outlook and nearly doubled its first-quarter profit, helped by increased production and sales in both North America and Japan and a cheaper yen. From April to June, operating profit totaled 128.6 billion yen, or $914,59 million.
Metal Stamping Market Report Highlights:
Process Insights
The blanking segment is expected to dominate the metal stamping market share over the forecast period. Blanking is a flexible procedure that yields many components with complex sizes and shapes. Due to its adaptability, it is a favored approach for addressing various industrial requirements. Cutting metal sheets can achieve a high degree of precision and accuracy, guaranteeing that the resulting blanks adhere to strict specifications. This is important in fields where accuracy is paramount.
Material Insights
The steel stamping segment is expected to dominate the metal stamping market during the forecast period. The segment expansion is attributed as steel's natural strength, resilience, and adaptability make it the material of choice for stamping operations. Because of these characteristics, it can be used in various industries, such as electronics, construction, automotive, and aerospace. The automobile industry mainly drives the need for steel stamping since stamped steel components are widely used by automakers in manufacturing their vehicles. Because high-strength steel stamps balance strength and weight, moving toward lighter automobiles to increase fuel efficiency has increased demand for them.
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Press Type Insights
The mechanical press segment is expected to dominate the metal stamping market share over the forecast period. When it comes to metal forming operations, mechanical presses are frequently used because of their efficacy, accuracy, and affordability. Due to their sturdy construction and capacity for high-tonnage operations, they are appropriate for various applications, including consumer electronics and automotive components. Technological developments that provide improved automation, quicker cycle times, and higher production capacity are further factors contributing to the dominance of the mechanical press industry. The versatility and broad acceptance of mechanical presses across sectors can be attributed to their ability to handle a variety of materials and complex part geometries.
Furthermore, compared to other presses, mechanical presses are frequently chosen for their dependability and little maintenance needs. Their dependability increases productivity and uptime, making them a top option for manufacturers looking for reliable and affordable metal stamping solutions.
Application Insights
The automotive segment is expected to capture a majority of the metal stamping market share over the forecast period. Stamped metal components are widely used in the automobile industry and are found in body panels, chassis, and structural elements of cars. The need for precisely manufactured stamped metal parts is anticipated to rise as long as automakers emphasize lightweight designs that enhance performance and fuel efficiency.
Moreover, the automotive industry's metal stamping market has experienced growth due to the shift towards electric vehicles (EVs). Specialized stamped metal components are in greater demand due to the distinct design requirements of electric vehicles and the increasing emphasis on sustainable transportation worldwide. Automobile manufacturers seeking to achieve strict requirements and specifications are drawn to metal stamping because of its improved production efficiency and quality due to technical developments, such as automation and high-speed stamping.
Market Dynamics:
Driver: Electrification of Vehicles and Appliances
The demand for metal stamping is expected to increase as lightweight design is emphasized in electrified cars to increase energy efficiency and prolong battery life. Metal stamping is essential to accomplish this goal of creating components that are both sturdy and lightweight. Stamped parts made of aluminum and high-strength steel are frequently used to lower the overall weight of vehicles, improve fuel economy in conventional cars, and increase the range of electric vehicles. Electric motors are an essential part of many contemporary gadgets and electric cars.
Precision components for electric motor assemblies can be produced using metal stamping, which improves performance, lowers energy consumption, and increases reliability. The switch to energy-efficient appliances and electric cars is in line with the objectives of global sustainability. By employing recyclable materials and energy-efficient procedures, metal stamping enhances the environmental friendliness of electric items overall, drawing in environmentally sensitive customers and regulatory bodies.
Restraint: Stringent Environmental Regulations on Metal Waste and Emissions
To appropriately handle metal trash and limit emissions, meeting strict environmental regulations frequently necessitates large expenditures in infrastructure and technology. For metal stamping enterprises, this raises their overall operating expenses. Environmental laws frequently cover the whole supply chain. Obtaining raw materials from vendors who follow these rules may be difficult for metal stamping businesses, which could cause supply chain disruptions and production issues. Metal stamping businesses can find it challenging to comply with changing emission standards as laws get stricter. This hinders the sector's expansion, requiring constant upgrades and modifications to remain compliant.
Opportunity: Advanced Stamping Techniques
Sophisticated stamping methods enable the production of very accurate metal objects with intricate details and precise dimensions. This is critical for electronics, automobiles, and aerospace sectors that demand precise measurements and complex designs. The stamping process is streamlined by automation and cutting-edge technologies, which improves production efficiency and turnaround times. This is necessary to satisfy the demands of a cutthroat market and react quickly to shifting client needs. Advanced stamping's effective use of materials and energy-saving techniques help to lessen its environmental impact. This aligns with the increased focus on environmentally friendly and sustainable manufacturing methods.
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Recent Developments:
- In August 2023, Performance Stamping, LLC, which included American and foreign original equipment manufacturers in various industries, including appliance, automobile, water treatment, oil & gases, utilities, industrial services, and HVAC, was acquired by Willis & Smith Capital and its affiliates.
Market Key Players
- Acro Metal Stamping
- Manor Tool & Manufacturing Company
- D&H Industries, Inc.
- Kenmode, Inc.
- Klesk Metal Stamping Co
- CAPARO
- Nissan Motor Co., Ltd
- AAPICO Hitech Public Company Limited
- Gestamp
- Ford Motor Company
- Clow Stamping Company
- Goshen Stamping Company
- Tempco Manufacturing Company, Inc
- Interplex Holdings Pte. Ltd.
Market Segmentation
By Process
- Blanking
- Embossing
- Bending
- Coining
- Flanging
By Material
- Steel
- Aluminum
- Copper
- Others
By Application
- Automotive
- Industrial Machinery
- Consumer electronics
- Aerospace
- Electrical & Electronics
- Telecommunications
- Building & Construction
- Others
By Press Type
- Mechanical Press
- Hydraulic Press
- Servo Press
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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