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Sheet Metal Market Trends, Industry Analysis, Key Players, Challengers, Growth Status And Revenue Forecast 2032 - Arconic Corporation, Alcoa Corporation, Baosteel Group Corporation, JFE Holdings Inc., Nippon Steel Corporation
Sheet Metal Market
Sheet Metal Market Size, Growth Rate, And Forecast
The global sheet metal market size is expected to grow from $296.41 billion in 2022 to $314.13 billion in 2023 at a compound annual growth rate (CAGR) of 5.98%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global sheet metal market size is expected to reach $386.87 billion in 2027 at a CAGR of 5.35%.
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Sheet Metal Market Drivers
The continuous expansion of the construction sector is expected to propel the growth of the sheet metal market going forward. Sheet metal refers to a thin, lightweight, high-strength, flat sheet made up of highly conducting materials such as iron, copper, brass, nickel-iron alloys, and others and using techniques such as cutting, shaping, drawing, shearing, and others. The construction sector is increasing because of the growing population, urbanization, low-interest rates on construction, and others. The construction sector is widely using sheet metal as a construction material because of its benefits, such as a low weight-to-thickness ratio, strength, and durability, These factors boost the sheet metal market. For instance, in May 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8 percent increase in construction spending. Therefore, the continuous expansion of the construction sector is driving the growth of the sheet metal market.
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Sheet Metal Market Segments
• By Material: Steel, Aluminum, Titanium, Other Materials
• By Process: Rolling, Forging, Bending, Other Process
• By End User: Automotive, Defense, Aerospace, Industrial Tool And Machinery, Buildings And Construction, Home Appliances, Consumer Goods, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the sheet metal market
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Sheet Metal Market Key Players
Major competitors in the sheet metal market are Arconic Corporation, Alcoa Corporation, Baosteel Group Corporation, JFE Holdings Inc., Nippon Steel Corporation, POSCO Holdings Inc., United States Steel Corporation, ArcelorMittal S.A., Constellium SE, General Sheet Metal Works Inc., Hindalco Industries Limited.
The Business Research Company's "Global Sheet Metal Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Sheet Metal Market Include:
1. Executive Summary
2. Sheet Metal Market Characteristics
3. Sheet Metal Market Trends And Strategies
4. Sheet Metal Market - Macro Economic Scenario
5. Sheet Metal Market Size And Growth
………………
27. Sheet Metal Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sheet Metal Market
29. Sheet Metal Market Future Outlook and Potential Analysis
30. Appendix
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