Metal Forming Market Size, Analysis & Future Growth Prospects, 2020–2027 | Key Drivers, Restraints and Opportunities

Metal forming is a process in which plastic deformation of metal takes place to achieve the desired geometry and shape. A force is applied to the metal such that it exceeds the metal’s yielding strength to undergo plastic deformation without showing any temporary changes. This force provides rigid, customized, and required shape and look to the metal.

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The metal forming process is of different types such as roll forming, stamping, stretch forming, and others. The tools used for metal forming processes are English wheels, louver presses, planishing hammers, and others. Metal forming has a wide range of applications in automotive, manufacturing, construction, aerospace engineering, and others.

COVID-19 Scenario analysis:

COVID-19 pandemic has shut-down the production of various products in the metal forming industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of metal forming market significantly from last few months, as is likely to continue during 2020.

COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.

The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.

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Key Segments

By Technique

Roll forming
Stamping
Stretch forming
Others

By Application

Closures
Chassis
Others

Forming Type

Cold Forming
Hot Forming

Metal Type

Steel
Aluminum
Others

End-use industry

Automotive
Construction
Industrial Equipment & Machinery
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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Key Players

Major players analyzed include Benteler, Tower International, Mills Products, Superform Aluminium, Toyota Boshoku, Aisin Seiki, Magna, Kirchhoff, CIE Automotive, and VNT Automotive

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