Sheet Metal Market Insights: Exploring Emerging Trends, Technology Innovations, and Future Growth Prospects

The new report published by The Business Research Company, titled Sheet Metal Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the sheet metal market size has grown strongly in recent years. It will grow from $314.13 billion in 2023 to $332.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The sheet metal market size is expected to see strong growth in the next few years. It will grow to $410.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.

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The Sheet Metal Market Surges With The Expansion Of The Construction Sector
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.

Technology Trends In The Sheet Metal Market
Technology advancements are the key trends gaining popularity in the sheet metal market. Major companies operating in the sheet metal market are adopting innovative technologies to sustain their position in the market. For instance, in September 2022, Desktop Metal Inc., a US-based technology company that designs and markets 3D printing systems, launched Figure G15, a new digital sheet forming (DSF) technology. This innovative technology allows standard metal sheets to be formed into parts using a software-controlled ceramic tool head mounted on a gantry. Additionally, a variety of metals and sheet thicknesses, such as steel up to 2.0 mm thick and aluminum up to 2.5 mm thick, can be processed.

The sheet metal market covered in this report is segmented -

1) By Material: Steel, Aluminum, Titanium, Other Materials
2) By Process: Rolling, Forging, Bending, Other Process
3) By End User: Automotive, Defense, Aerospace, Industrial Tool And Machinery, Buildings And Construction, Home Appliances, Consumer Goods, Other End Users

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Major companies operating in the sheet metal market report 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, Kaiser Aluminum Corporation, Nucor Corporation, Tata BlueScope Steel Pvt. Ltd., Tata Steel Limited, 3A Composites, Bud Industries Inc., BlueScope Steel Limited, ATAS International Inc., A&E Manufacturing Company, Associated Materials LLC, Dulocos Conveyors, Moulds Pvt. Ltd., SSR Metals Private Limited, Sheet Metal Fabrication Companies, Maysteel Industries LLC, Source International, Special Products & Mfg. Inc., Aalco Metals Ltd., Ellwood Group Inc.

Contents of the report:
1. Executive Summary
2. Sheet Metal Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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