Metal Stamping Trends for 2021

November 30, 2020 8:43 pm Leave a Comment

It looks to be an exciting year ahead for the metal stamping industry. The market grew steadily in 2020, and it’s expected to see continued increases through 2026 as demand for precise metal stamped products increases. Through the challenges that this year presented, Manor Tool has been proud to serve the manufacturing and fabrication needs of a diverse group of clients. We look forward to continuing these relationships in 2021.

The Impact of COVID-19 on Metal Stamping

The pandemic left its mark on all aspects of manufacturing, encompassing supply chain disruptions, massive demand changes, and operational changes to support social distancing and other safety measures. It’s been a year of uncertainty, and all businesses have been forced to take one day at a time and pivot to meet the ever-changing circumstances.

The industry was already facing challenges from unstable international trade relations when pandemic-related shutdowns started changing demand. With less construction and air travel, for example, there has been less need for certain metal components. As businesses deemed “non-essential” temporarily shut their doors, manufacturers lost many of their customers. Conversely, manufacturers of essential goods found themselves overwhelmed with orders for personal protective equipment, medical and testing equipment, and more.

As companies adapted to meet these challenges, they’ve hit fast-forward on the adoption of certain technologies and innovations that are likely here to stay. The metal stamping forecast includes two big changes:

Manufacturers will rely more heavily on data to guide strategic planning
With remote access capabilities for machinery, the location of many skilled workers will matter less moving forward

The technology for these advancements has been around for a while, but the upfront costs of comprehensive software and hardware changes have previously been difficult to justify. In light of COVID-19, many manufacturers will be adopting new technologies sooner rather than later.

What to Look for in 2021

Metal stamping trends in 2021 will be driven largely by low material costs and an ever-growing need for the type of intricate, lightweight parts that make airplanes and automobiles more fuel efficient without sacrificing safety. Increasing competition in the industry will fuel innovation, even in these challenging times.

The metal stamping forecast is promising. For aerospace and defense metal stamping alone, growth (according to Meticulous Market Research, Ltd.) has been projected at a CAGR of 4.6% through 2027, ultimately reaching $33.6 billion by the end of that period. Although COVID-19 has heavily impacted the aerospace industry, this sector has been on an upswing in recent years that will continue as we move beyond the pandemic. Many older aircraft are being replaced by planes featuring the latest fuel-efficient, sound-reducing technology. Clips, connectors, and fasteners for assembly and signal, communications, and power systems are expected to drive the greatest demand for metal stampers.

Steel also hopes to make a comeback by 2021, perhaps with lower prices. Though steel prices are currently rising after taking a hit over the summer, they’re expected to reach their peak and decrease moving into 2021.

To take the temperature of the industry, the Steel Market Update (SMU) polls steel buyers on a regular basis to see how they’re feeling about the market. SMU’s Future Sentiment poll has shown that steel buyers remain optimistic about the future of the steel sector.

Metal Stamping Services From Manor Tool

At Manor Tool, we’re excited about the metal stamping forecast and how we can contribute to the industry in 2021 and beyond. With six decades of experience, we offer the highest quality deep-drawn stamping, punching, bending, forming, and more. We’re dedicated to staying on top of metal stamping trends to deliver the products our clients need and want.

Feel free to download our e-books to learn more about metal stamping. Please contact us or request a quote to see how we can help with your project.

Metal Stamping Trends for 2020

December 11, 2019 7:39 pm Leave a Comment

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.

Automotive

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.

Aerospace

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.

Industrial

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.

Electronics

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.

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