Recent research projects that the metal stamping market will experience a Compound Annual Growth Rate (CAGR) of 4.01% from 2022 to 2027. This represents a marked increase of $31.36 billion USD. This increase in demand is driven by technological breakthroughs in the automotive sector, as well as increased demand for consumer electronics. Metal stamping is widely used in the automotive industry, to construct hangers, brackets, side panels, bonnets, and other components. It is also a key manufacturing method for the telecoms industry, which is predicted to increase its demand for stamped products relating to 5G technology. Read on for a more in-depth look at the metal stamping market forecasts.
Global Metal Stamping Market Dynamic
The emergence of next-generation stamping technology is gaining traction on a global scale. The future of metal stamping will focus on minimizing the time and cost of production while increasing production capabilities that accommodate new product developments. Specifically, a growing demand for lightweight vehicles will shift the focus of auto component manufacturers.
Numerous end-user industries are currently experiencing rapid growth, and the global metal stamping market is also seeing a large opportunity in growing nations. This market expansion is fueled by metal stampings for surgical equipment and implantable devices, however, automotive, aerospace, consumer electronics, industrial machinery, and telecommunications industries are all increasing their demand for stamped components.
Key Metal Stamping Market Drivers
The many benefits of metal stamping are driving its market growth. As an automated process, metal stamping reduces labor costs and meets large production volume demands. Its ability to produce precise metal components quickly and cost-efficiently make it suitable for many diverse products and industries.
Additionally, metal stamping facilitates design flexibility, with its ability to handle tight tolerances and unique, customizable component configurations. These factors are expected to drive market growth during the forecast period.
Metal Stamping Market: Segmental Overview
Certain metal stamping processes and end-use applications are expected to see the largest growth during the forecast period. Specifically, blanking is expected to claim the largest revenue share among metal stamping processes. This is due to its accuracy and increased demand from the automotive sector. Blanking’s ability to accommodate mass product lines will also boost its growth in upcoming years.
Additionally, metal stamping demand from the aerospace and aviation industry is expected to grow significantly during the forecast period. This growth is attributed to an increased focus on safety and the need to meet stringent quality standards. Metal stamping is also capable of producing the lightweight and adaptable components this industry needs to reduce fuel costs and weight.
Process and Application Insights
In upcoming years, end-use applications in the automotive, aerospace, telecommunications, and agriculture sectors are expected to see the most significant growth, with blanking and embossing predicted to be the most in-demand processes. Let’s take a closer look at the market predictions for these applications and processes.
Metal stamping application insights for the coming years can be segmented into four primary industries that will lead demand:
- Automotive & Transportation: In 2021, the automotive sector accounted for over 35.5% of revenue for the metal stamping industry. Furthermore, the International Organization of Motor Vehicle Manufacturers reported that in 2020, the production of heavy-duty trucks and LCVs reached 4.3 million and 17.2 million units respectively. High-volume production capabilities are expected to continue expanding market growth in this sector in the coming years.
- Aerospace: Metal stamping is a durable and cost-effective method of manufacturing aerospace components like frames, channels, and ultra-lightweight parts. This combined with the growing production of fighter and commercial aircraft is expected to propel market growth in upcoming years.
- Agriculture: Currently, various metal stamping companies are investing in research related to advanced stamping technology for agricultural equipment, such as agricultural automated processing systems. These developments are expected to boost market growth throughout the forecast period.
- Telecommunications: For telecommunications products, the demand for stamped metal parts that provide enhanced durability is expected to increase, as well as high demand for premium products.
In addition to these focus areas, growing industrialization in emerging economies will increase the demand for industrial machinery-related products. Specifically, Brazil, South Africa, India, and China are predicted to increase global demand for metal-stamped components.
As an integral aspect of automotive manufacturing, blanking is expected to propel sector growth in upcoming years. This is largely due to its ability to accommodate mass production lines. In 2021, embossing was the second-largest process segment for the metal stamping industry, and its demand is expected to continue growing as well, due to its cost-efficiency and versatility.
Metal Stamping From Manor Tool & Manufacturing Company
With over 50 years of experience in metal stamping and hard tooling, Manor Tool & Manufacturing Company is a trusted source of high-quality stamped metal products. Whether you need a prototype or a high-volume production run, we can deliver a cost-effective solution that exceeds your expectations.
We review every part we produce to ensure continued quality and process reliability and perform maintenance on our in-house dies after every production run. To learn more about our capabilities, contact us or request a quote today.