GVR Report cover Metal Stamping Market Size, Share & Trends Report

Metal Stamping Market Size, Share & Trends Analysis Report By Process (Blanking, Embossing, Bending, Coining, Flanging), By Application, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-615-8
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 120

Report Overview

The global metal stamping market size was valued at USD 200.50 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% in terms of revenue from 2021 to 2028. The growing consumer electronics industry is likely to remain a key driving factor on account of the application of metal frames in mobile phones, headphones, speakers, and gamepads, and controllers. In mobile phones, metal stamping is used in manufacturing antennas, chassis, and camera lens holders as it offers high tolerance, corrosion resistance, electrical conductivity, and a smooth finish. According to GSM Association, the global number of unique mobile subscribers is expected to reach 5.91 billion by 2025 from more than 5 billion in 2017, which in turn, is likely to propel the demand for mobile phones and eventually metal stamping in the forthcoming years.

U.S. metal stamping market size, by process, 2018 - 2028 (USD Billion)

The U.S. is among the prominent players in the metal stamping industry. However, the emergence of COVID-19 and subsequent temporary lockdown measures in the country widely impacted the operations of the industry. The downstream demand from key sectors including automotive, aerospace, industrial machinery, and others was largely disrupted owing to the challenges in supply chain and dried-up demand from end-use customers. The situation is projected to normalize by the end of 2021 or 2022 based on the rate of vaccination and control measures to limit new variants of the coronavirus in the country.

In April 2018, a U.S.-based automobile component manufacturer named American Axle and Manufacturing and a China-based manufacturer Liuzhou Wuling Automobile Industry Co. Ltd., entered into a joint venture “Liuzhou AAM Automotive Driveline System Co. Ltd.”, in China to produce rear axles and drive heads. The joint venture aimed at meeting the growing demand for vans, minivans, and sport utility vehicles in the country. The increasing production of auto components is anticipated to propel the growth of the market.

According to the International Council on Clean Transportation (ICCT), the global electric vehicle production surpassed 2 million, out of which, China accounted for 51.6% in 2018. Government initiatives such as electric car subsidies to local manufacturers to support the growth of electric vehicles are a major factor responsible for the increase in production. This is likely to boost the usage of sheet metal during the production of auto components such as chassis, interior and exterior structural, and transmission components, which in turn, is expected to drive the metal stamping market growth during the forecast period.

The accelerating market growth can be hindered as automobile manufacturers are replacing metals with plastic and carbon fiber as they assist in weight reduction of vehicles. A 10% reduction in weight of the vehicle results in a 5% to 7% increase in fuel efficiency. The increasing production of lightweight vehicles owing to the stringent government regulations in various countries is anticipated to drive the demand for substitute products. For instance, in the U.S., developments in the Corporate Average Fuel Economy (CAFE) regulations to enhance fuel-efficiency are encouraging the use of these substitute products in automobiles, which in turn is likely to hamper the market.

Process Insights

The blanking segment held the largest revenue share of more than 32% in 2020. Blanking is an integral part of manufacturing automobiles on account of its precise and superior stamping ability. The technique involves the use of a die to obtain the desired shape. The growing use of blanking in the automobile industry on account of its ability to cater to mass production lines is expected to augment segment growth over the coming years.

Embossing was the second largest segment in 2020 owing to its advantages such as the ability to produce different patterns and sizes, depending on the roll dies. This is done by passing a metal sheet or strip between rolls of the desired pattern. Embossing a sheet metal reduces friction, increases stiffness and rigidity, and enhances traction.

Bending process refers to pressuring a metal onto a plane surface to provide the desired shape. The bending process is cost-effective when used for low or medium quantities of metals. The bent parts are utilized in several applications such as wheels, door hinges, and the engine assembly in automobiles.

Coining is a cold working process that uses extreme force to plastically deform a metal workpiece such that it conforms to a die. A gear-driven press, a mechanical press, or a hydraulically actuated press are used in this process. It was earlier used in the minting of coins but with the growing complexity in the designing of automobiles, the coining process is now being used in metal stamping as well.

Application Insights

The automotive segment held the leading revenue share of over 35% in 2020. Automotive industry including passenger vehicles, light commercial vehicles (LCVs), heavy trucks, buses, and coaches use metal stamping parts in manufacturing body panels to maintain safety standards and control end-costs. According to the International Organization of Motor Vehicle Manufacturers, the global production of LCVs and heavy trucks increased by 5.9% and 3.5% respectively from 2017 to 2018. Increasing vehicle production is expected to foster the growth of the market in automotive applications over the coming years.

Global metal stamping market share, by application, 2020 (%)

In the aerospace industry, metal stamping is used to produce aircraft parts such as channels and frames for obtaining ultra-lightweight airplanes that consume less fuel. The use of metal stamping in aircraft parts manufacturing provides durability and is a cost-effective solution, which is expected to propel its demand. In addition, the growing production of commercial and fighter aircraft is expected to drive the market over the coming years.

Industrial machinery segment is expected to witness significant growth over the coming years on account of growing industrialization in the developing and emerging economies such as India, China, Brazil, and South Africa. In the agricultural industry, metal stamping components are used to manufacture automated processing equipment. Metal stamping companies such as D&H industries are investing in R&D to provide advanced metal stamping technology for agricultural equipment. The developments in the agricultural industry are anticipated to boost market growth across the forecast period.

In telecommunications, metal parts are used in the manufacturing of antennas and the outer body of telecom products. The demand for metal stamping parts is witnessing growth in the telecommunications industry as they enhance the durability of telecom products. The availability of advanced technology along with high demand for premium telecom products is anticipated to augment the growth of the market over the coming years.

Regional Insights

Asia Pacific accounted for the largest revenue share of more than 36% in 2020 owing to the increasing demand for cars and consumer electronics in the region and is expected to witness the highest growth rate over the forecast period. The growth is majorly driven by developing countries such as China, India, Bangladesh, Indonesia, and Pakistan, where the increasing demand for phones along with other consumer electronics is anticipated to augment the growth of the market.

Growing industrialization coupled with infrastructure development and growth in the defense industry is expected to have a positive impact on the demand for machinery and equipment in Asia Pacific. Countries such as China and India are increasing their investments in the defense industry. For instance, China increased its defense budget by 7.5% in 2019 to upgrade the defense equipment, and launch advanced defense aircraft. The rising demand for defense equipment is anticipated to drive the market in the forthcoming years.

India is another lucrative market where the growing production of components is anticipated to positively influence market growth. Also, the ongoing trade war between China and the U.S. is likely to propel the U.S. manufacturers to shift their production base in India in order to get themselves exempted from high export tariffs. For instance, in June 2019, Apple has asked its key manufacturing partners to explore options to shift 15-30% of its hardware production from China to India, South East Asia, or Vietnam.

In North America, product consumption is likely to be driven by rising demand from the automotive industry. Automakers in the region are focusing on increasing the production of lightweight vehicles by using metals such as aluminum in various components to reduce fuel consumption. As of 2018, nearly 50% of the vehicles manufactured in the region consisted of aluminum hoods and this figure is anticipated to reach 80% by 2025. The increasing production of aluminum hoods is anticipated to drive the market over the coming years.

Europe accounted for a revenue share of 24.6% in 2020 owing to the established automotive industry and the growing consumer electronics industry. The region has stringent regulations on enhancing fuel economy, resulting in an increase in demand for electric vehicles. According to International Energy Agency, the global sale of electric vehicles is anticipated to reach 44 million vehicles per year by 2030. The growing demand for electric vehicles is anticipated to augment market growth over the coming years.

Key Companies & Market Share Insights

The global market is extremely competitive in nature with presence of numerous small and large players in the industry. The local players compete with the companies catering at global level based on services and customized products. The local players can provide personalized customization services to their clients as well as possess the capability of providing standardized products to the major industrial machinery producers, automotive OEMs, and consumer electronics manufacturers.

The market players of the industry faced losses and had to suspend their operating lines during the COVID-19 pandemic. Post ease in restrictions, the companies had to incorporate special safety protocols in the facilities as per government norms for ensuring employee safety. For example, in May 2020, Ford Motor Company had to pause its production at its Chicago Stamping Plant to complete enhanced cleaning and follow safety protocols for COVID-19. Some of the prominent players operating in the global metal stamping market are:

  • Acro Metal Stamping

  • Manor Tool & Manufacturing Company

  • D&H Industries, Inc.

  • Kenmode, Inc.

  • Klesk Metal Stamping Co

  • Clow Stamping Company

  • Goshen Stamping Company

  • Tempco Manufacturing Company, Inc

  • Interplex Holdings Pte. Ltd.

  • CAPARO

  • Nissan Motor Co., Ltd

  • AAPICO Hitech Public Company Limited

  • Gestamp

  • Ford Motor Company

Metal Stamping Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 205.09 billion

Revenue forecast in 2028

USD 270.32 billion

Growth rate

CAGR of 3.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Process, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; France; U.K.; Spain; Italy; Denmark; Belgium; China; India; Japan

Key companies profiled

Acro Metal Stamping; Manor Tool & Manufacturing Company; D&H Industries, Inc.; Kenmode, Inc.; Klesk Metal Stamping Co; Clow Stamping Company; Goshen Stamping Company; Tempco Manufacturing Company, Inc.; Interplex Holdings Pte. Ltd.; CAPARO; Nissan Motor Co., Ltd; AAPICO Hitech Public Company Limited; Gestamp; Ford Motor Company

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global metal stamping market report based on process, application, and region:

  • Process Outlook (Revenue, USD Billion, 2017 - 2028)

    • Blanking

    • Embossing

    • Bending

    • Coining

    • Flanging

    • Others

  • Application Outlook (Revenue, USD Billion, 2017 - 2028)

    • Automotive

    • Industrial Machinery

    • Consumer electronics

    • Aerospace

    • Electrical & Electronics

    • Telecommunications

    • Others
  • Regional Outlook (Revenue, USD Billion, 2017 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • U.K.

      • Spain

      • Italy

      • Denmark

      • Belgium

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

    • Middle East & Africa (MEA)

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