Metal Stamping Market size is projected to grow USD 247.62 billion by 2027

The global metal stamping market size is projected to grow from USD 195.23 billion in 2020 to USD 247.62 billion by 2027, at a CAGR of 3.42% from 2021 to 2027. Metal stamping is considered a manufacturing process mainly executed to convert flat metal sheets into specific shapes. It is a complicated process that can include several metal forming techniques: blanking, embossing, bending, coining, deep drawing, and flanging.

Growth in the global consumer electronics industry is estimated to drive the demand for the application of metal frames in headphones, mobile phones, gamepads, speakers, and controllers. According to GSM Association, the global number of unique mobile subscribers is predicted to touch 6 billion by 2025 from over 5 billion in 2017, which is likely to propel the mobile phone demand and eventually metal stamping during the forecast period.

The U.S. is among the prominent players in the metal stamping industry. However, the emergence of COVID-19 and subsequent temporary lockdown measures in the country widely impacted the industry's operations. The downstream demand from key sectors, including automotive, aerospace, industrial machinery, and others, was largely disrupted due to supply chain challenges and dried-up demand from end-use customers. The situation is projected to normalize by the end of 2021 or 2022 based on the rate of vaccination and control measures to limit new variants of the coronavirus in the country.

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In April 2018, a U.S.-based automobile component manufacturer named American Axle and Manufacturing and a China-based manufacturer Liuzhou Wuling Automobile Industry Co. Ltd. entered a joint venture "Liuzhou AAM Automotive Driveline System Co. Ltd." China to produce rear axles and drive heads. The joint venture aimed at meeting the growing demand for vans, minivans, and sport utility vehicles in the country. The increasing production of auto components is anticipated to propel the growth of the market.

Global Metal Stamping Market Dynamics
Drivers: Rising Investments by Key Vendors in Emerging Economies Supports the Market Growth
Global metal stamping market witnesses a huge opportunity in emerging economies like China, India, Mexico, Brazil, Argentina, and South Africa, owing to rapid growth in various end-user industries such as automotive, aerospace & aviation, consumer electronics, electrical, and other electronics, industrial machinery, telecommunications, and medical devices in the recent years. Citing the growth and future demand for metal components from these industries, many metal stamping equipment and service providers are strategically investing in these countries for the expansion & construction of new metal stamping facilities; for instance, in April 2018, Weiss-Aug Co. Inc. started operations in Nuevo Leon, Mexico with the addition of two 22-ton high-speed Bruderer presses to increase metal stamping capabilities. Also, in February 2017, Gestamp invested USD 38.67 million to construct a new hot stamping plant in Pune, India. This was an effort from the company to capture the rising demand for metal stamping with a preference for safer & lighter vehicles.

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Opportunities: Next-Generation Metal Stamping is Catching the Attention!
The emergence of next-generation stamping is gaining traction in the global metal stamping market. The next-generation metal stamping reduces the time and cost required to produce metal and metallic parts. It eliminated the process of designing dies which is a costly procedure. It helped in the implementation of next-generation tooling simulation software to improve tooling lineups before cutting tools. Automotive parts such as fenders, headliners, side and quarter panels, exhausts, brake shoes, valves, and hangers have increased the adoption of next-generation metal stamping technologies in the market. Moreover, this technology is also successfully managing to attract investors; in November 2017, Toyotetsu Canada (automotive part manufacturer) was awarded nearly USD 1.2 million in Ontario government grants through the Southwestern Ontario Development Fund (SWODF).

Scope of the Report
The global study categorizes the metal stamping market based on the process, material, press type, application, and the region at the regional and global levels.

By Process (Revenue, USD Million, 2017-2027)
Blanking
Embossing
Bending
Coining
Deep Drawing
Flanging
Others
By Material (Revenue, USD Million, 2017-2027)
Steel
Aluminum
Copper
Others
By Press Type (Revenue, USD Million, 2017-2027)
Mechanical Press
Hydraulic Press
Servo Press
By Application (Revenue, USD Million, 2017-2027)
Automotive
Industrial Machinery
Consumer Electronics
Aerospace and Aviation
Electricals and Other Electronics
Telecommunications
Medical Industry
Defense
Others

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By Region (Revenue, USD Million, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The automotive application of the metal stamping market is projected to hold the largest share
The automotive application segment held the leading revenue share of over 37% in 2020. The automotive industry primarily including passenger cars, light-heavy trucks, commercial vehicles (LCVs), coaches, and buses, that use metal stamping parts in manufacturing body panels to control end-costs and maintain safety standards. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the global manufacturing of heavy trucks and LCVs has been increased by 5.9% and 3.5%, respectively, from 2017 to 2018. Increasing automobile production is anticipated to lead the market's growth for automotive applications over the coming years.

Although in the aerospace industry, metal stamping is managed to produce aircraft parts such as frames and channels for obtaining ultra-lightweight airplanes to consume less fuel. The metal stamping used in aircraft parts manufacturing provides durability and is a cost-effective method, further expected to boost its demand globally. In addition, the growing commercial and fighter aircraft production is estimated to drive the market during the forecast period.

Asia Pacific is estimated to grow with the fastest CAGR during the forecast period in the metal stamping market.
The global metal stamping market has been segmented into North America, Europe, South America, Asia-Pacific, and the Middle East & Africa based on the regions. In 2020, Asia Pacific accounted for the largest market share in the revenue of over 36%. This is due to the increasing car, and consumer electronics demand in the domestic market and is expected to witness the highest growth rate during the forecast period. The growth is primarily driven by developing economies such as China, India, Vietnam, Malaysia, Bangladesh, Indonesia, and Pakistan, where the increasing phones demand and other consumer electronics is predicted to augment the growth of the overall metal stamping market.

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Growing industrialization combined with infrastructure development and growth in the domestic defense industry is expected to fuel the demand for machinery and related equipment in the region. Countries such as India and China are increasing their investments in the defense sector. For instance, China expanded its defense budget by 7.5% in 2019 to upgrade the defense equipment and launch advanced defense aircraft and related equipment. The growing demand for defense equipment is expected to drive the growth of the metal stamping market in the forthcoming years.

Key Market Players
The metal stamping market is mildly concentrated, with few global players operating in the market, such as Acro Metal Stamping, Manor Tool & Manufacturing Company, D&H Industries, Inc., Kenmode, Inc., Klesk Metal Stamping Co, Clow Stamping Company, Goshen Stamping Company, Tempco Manufacturing Company, Inc, Interplex Holdings Pte. Ltd., CAPARO, Nissan Motor Co., Ltd, AAPICO Hitech Public Company Limited, Gestamp, and Ford Motor Company, among others. These players have been focusing on various winning strategies to gain higher shares or retain leading positions in the market.

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