The metal stamping industry is gearing up for a bright future. In 2018, the worldwide value of the industry was more than $224 billion. That number is expected to show steady growth as metal stamping becomes more common—and necessary—in a variety of industries. Sheet metal is especially in demand within the automotive industry, particularly for transmission and structural components, as well as urbanization projects in developing countries.
These and other metal stamping trends are driving an expected compound annual growth rate (CAGR) of 4.2% by 2025.
What are the Metal Stamping Trends to Look For in 2020?
Sheet metal is used in many industries, all of which contribute to the growth of metal stamping in 2020 and beyond. Some of the factors influencing this growth include strong international trade, urbanization, and disposable income. Metal forming within the automotive industry alone is expected to see a CAGR of 2.83% by 2025, reaching a worldwide value of more than $269 billion, and the electronics industry is poised for growing demand for metal stamping, as well.
The pressure is on automakers to design affordable, fuel-efficient vehicles. Consumers want to save on fuel costs—and support sustainability—without going beyond their means to buy a vehicle. Meanwhile, with larger cities and increased urbanization in developing countries, there are more consumers looking for vehicles.
This demand for innovation calls for blanking, embossing, bending, coining, and flanging for components used in passenger cars, as well as both light and heavy commercial vehicles around the world. Sales forecasts for new vehicles are promising, and metal stamping allows manufacturers to uphold safety standards and control costs while continuing to improve automobile efficiency.
2018 predictions for US aerospace production showed a 2.9% growth in 2018, with 3.4% growth in both 2019 and 2020. The expected annual growth for the United States, United Kingdom, Europe, and Japan combined is 3.1% in 2019 and 2020.
Even after a couple of slow years—which actually included a decline in aerospace growth in the U.S.—these predictions were made with consideration to the low cost of fuel, production plans from Boeing and Airbus, the strength of global trade, and trucking fleets that will be required to move products within countries and across borders.
Given the increased interest and development in space travel, there is additional need for durable, lightweight components of all shapes and sizes.
Stamped components are used extensively in manufacturing and the maintenance of a variety of machines. Furthermore, sheet metal isn’t the only material being used in these machine components. Additional materials, like carbon fiber, may be used within the manufacturing industry and across many other industries, contributing to the demand for stamping.
Consumer electronics may become the fastest-growing application for metal stamping due to increases in disposable income. As people find themselves with more money to spend, they turn to the ever-increasing availability of innovative electronics to make their lives more convenient and more enjoyable. Metal is used in this industry for impact resistance, helping to increase the lifespan of the final product.
Custom Metal Stamping Services from Manor Tool & Manufacturing
Manor Tool and Manufacturing is proud to contribute to the strength of America’s manufacturing and industrial sectors as we work with a variety of businesses to create high-quality components in the USA. With decades of experience, our services cover a wide range of metals, and we specialize in medium- and high-volume production runs. We work to develop lasting relationships with our clients—we’re happy to work with you to meet your needs, no matter how large or complicated your project is. We bring our experience, passion, and commitment to every project.
We offer custom tooling and fabricating services, including deburring, drilling, and machining as secondary support services. Contact us to learn more about our custom metal stamping services and how Manor Tool and Manufacturing can help your business.
Tags: 2020, metal stamping trends