Metal Stamping Market: 2018 Market by Size,Process, Material, Application, And Geography in Forecast Period 2023.
According to this latest
publication from Meticulous Research®, the Global Metal Stamping Market is expected to grow at a CAGR of 3.9% from 2018 to reach USD 289.2
billion by 2023.
Metal
stamping is nothing but metalworking. It is actual process of Convert flat
sheet metal into net shape. Metal
stamping includes a variety of sheet-metal forming manufacturing
processes, such as Blanking, Embossing, Bending, Deep Drawings.
Blanking
market commanded the largest share of global metal stamping market in 2017.
However, metal bending market is expected to grow at the fastest CAGR during
the forecast period, owing to rising adoption of bending process across many
industry verticals for improving the quality, durability, and stability of
manufactured parts. Moreover, deep drawing stamping market is also expected to
witness significant growth through 2023, as the adoption of deep drawing
process for the production of complex parts across various industries is
increasing with rising complexity in the product design, technological
advancements, and product innovations.
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Different
materials are used in the metal stamping like steel, aluminum, copper, etc. steel
stamping market dominated global market in 2017 owing to steel’s easy and high
availability, high strength, and low cost; however, aluminum stamping market is
expected to witness a rapid growth during the forecast period. The aluminum is
comparatively soft alloy than the stainless steel; is non-magnetic; and has
good thermal and electrical conductivity. It is also more elastic and malleable
than steel and has better corrosion resistance property than steel stampings.
Therefore, it is an effective alternative to steel metal, thereby witnessing a
growing demand from automotive, commercial food equipment, railway, aerospace,
electronics, and electrical industries.
The
growth of this market will be driven by factors such as rising urbanization and
industrialization, growing automotive industry, increasing demand from
aerospace and aviation industry, and a rise in technological advancements.
Moreover, rising use of sheet metal across manufacturing industries and growing
investments into metal stamping facilities further supports the growth of this
market. However, the emergence of plastics & composite materials hinders
the growth of the market to some extent.
About Meticulous Research®
Meticulous Research® is
founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in
2013 as a private limited company under the Companies Act, 1956. Since its
incorporation, the company has become the leading provider of premium market
intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa.
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Viren Shrivastava
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Global Sales and Marketing
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