Metal Products Market: Major Trends Reshaping the Future of the Industry

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What Is the Expected CAGR for the Metal Products Market Through 2025?
In the past few years, the market size of metal products has experienced a robust growth. Projected to surge from $2946.26 billion in 2024 to $3133.37 billion in 2025, it is expected to achieve a compound annual growth rate (CAGR) of 6.4%. The substantial growth seen in the aforementioned time period can be linked to the significant economic upturn in emerging markets, swift growth in the automotive sector, speedy advancements in technology and the expansion of the steel industry.

What's the Projected Size of the Global Metal Products Market by 2029?
Anticipations are robust for substantial expansion in the metal products market over the next few years, with forecasts predicting a surge to $3815.28 billion by 2029, representing a compound annual growth rate (CAGR) of 5.0%. Several factors are contributing to this uptick during the projected period, such as enhancements in plant productivity, the growing preference for aluminum due to its lighter weight and cost-effectiveness, the aerospace sector's increasing consumption of metals, and investments channelled into infrastructure. In the meantime, the market is expected to concentrate on the debut of net zero carbon products, the introduction of metal additive manufactured products, the incorporation of robotics and automation, leveraging the Internet of Things (IoT), implementing newer welding methodologies and the utilisation of recycled metals as significant trends.

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Top Growth Drivers in the Metal Products Industry: What's Accelerating the Market?
The surge in the automotive industry during the historical period has been a boon for the metal products market. The automotive industry spans a comprehensive array of operations including the conceptualizing, devising, fabricating, promoting, selling, mending, and upgrading of motor vehicles. As this industry broadens, the necessity for a variety of metal products, such as sheet metal, steel, aluminum and exclusive alloys, intensifies. These metals find use in the creation of vehicle parts like body sections, framework components, and engine elements. For example, a report appearing in MarkLines Co, an automotive data platform based in Japan, revealed that the sale of light vehicles in the United States hit 1,287,280 units in December 2022 - a growth of 5.4% from the same month the previous year. In relation to the last December, the sales of trucks and SUVs escalated by 5.3% to 1,020,952 units, and the sale of passenger cars shot up by 5.7% to 266,328 units. As such, the escalating demand for automobiles during this time frame had a positive bearing on the metal products manufacturing market.

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What Trends Will Shape the Metal Products Market Through 2029 and Beyond?
Numerous firms in the metal products sector have started to leverage robotics and automation to enhance the efficiency and productivity of their factories. When we talk about robotics, we are referring to a multidisciplinary area of technology and engineering that specialises in the development, construction, operation, and usage of robots. On the other hand, automation is how technology is utilized to reduce human interference in processes, by setting predefined decision criteria, relationships between subprocesses, and subsequent actions. These standards are embedded into machines to ensure a consistent level of quality in metal products. Robots are capable of performing tasks such as welding, cutting, and fabricating metal to a high degree of precision, which minimizes flaws and the need for additional work, subsequently leading to the production of superior quality metal products that are up to, or higher than, industry standards. The International Federation of Robotics (IFR) revealed in their latest World Robotics report in September 2023 that a total of 553,052 industrial robots were installed globally in 2022, marking a 5% increase compared to the previous year. The report further states that 73% of these robots were used in Asia, with Europe accounting for 15% and the Americas for 10%. Companies such as FANUC, KUKA, ABB, and Motoman are example of companies who provide industrial robots to metal companies.

What Are the Main Segments in the Metal Products Market?
The metal products market covered in this report is segmented -

1) By Type: Forged and Stamped Goods, Cutlery and Hand Tools, Architectural And Structural Metals, Boiler, Tank, And Shipping Container, Hardware, Spring And Wire Products, Machine Shops, Turned Product, Screw, Nut And Bolt, Others
2) By Metal Type: Iron Ore, Copper, Other Metal Types, Zinc, Nickel, Gold Ore, Lead, Silver Ore
3) By End User: Construction, Manufacturing, Other End Users

Subsegments:
1) By Forged And Stamped Goods: Forged Components, Stamped Parts, Cold Formed Parts, Hot Forged Parts
2) By Cutlery And Hand Tools: Kitchen Cutlery, Hand Tools, Garden Tools, Professional Tools
3) By Architectural And Structural Metals: Steel Beams And Columns, Metal Decking, Roofing And Siding Panels, Metal Framing Systems
4) By Boiler, Tank, And Shipping Container: Pressure Vessels, Storage Tanks, Shipping Containers, Boiler Components
5) By Hardware: Fasteners, Door And Window Hardware, Furniture Hardware, Builders' Hardware
6) By Spring And Wire Products: Compression Springs, Extension Springs, Wire Forms, Specialty Springs
7) By Machine Shops: Precision Machined Components, Custom Machining Services, CNC Machined Parts, Tooling And Fixture Manufacturing
8) By Turned Products: Turned Metal Parts, CNC Turned Components, Precision Turned Parts
9) By Screw, Nut, And Bolt: Standard Fasteners, Specialty Fasteners, Custom Fastener Manufacturing
10) By Others: Powder Coated Products, Anodized Metal Parts, Engraved Components, Heat-Treated Steel Parts, Gate Valves, Ball Valves, Check Valves, Control Valves, Metal Fabrications, Assemblies And Subassemblies, Specialty Metal Products

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Which Top Companies are Driving Growth in the Metal Products Market?
Major companies operating in the metal products market include Stanley Black & Decker, Inc, Ball Corporation, Techtronic Industries Co. Ltd., Illinois Tool Works Inc, Schaeffler Technologies AG & Co KG, Ajmal Steel Tubes & Pipes Industries LLC, AK Steel Holding, Akar Tools Ltd, Al Jarsh Metal Section Manufacturing, AL Khaleej Metal Coat LLC, AL Shafar Steel Engineering, Alam Steel, Alcoa Corp, Algoma Steel Inc, Aperam, Apex Tools Group, ArcelorMittal, ArcelorMittal Brasil S.A, Assa Abloy AB, Avocet Steel, Baoshan Iron & Steel Co. Ltd, Baowu steel, Bekaert SA, Berkshire Hathaway Inc., Bosco Group of Companies, Cape Town Iron and Steel Works, Channellock, Inc, China International Marine Containers (Group) Ltd., Colfax, Companhia Siderúrgica Nacional, Consolidated Steel Industries Ltd, Continental steel, Contitech Chile S.A, DBMSC Steel FZCO, Denholm YAM, Dofasco, Dynamic structures, Evraz, Fenster Aluminum Ltd, Flowserve, Freeport McMoranInc, Gerdau, Gibraltar Industries, Gutmann Industries LLC, Hulamin Ltd, Hyundai Steel Company, Inesa Argentina, Integrated metal products, JFE Steel Corporation, JM Enterprises, Kennametal Inc, Kobe Steel Limite, Leita Steel Ltd, Maanshan Iron and Steel Company Limited, Magnitogorsk Iron and Steel Works (MMK), Mechel, Melcast Iron and Steel Foundry, Metalloinvest, Metatrade Import and Export (Pty) Ltd, Moolaan Iron & Steel, Mueller Industries, Nanjing Hengjie Industrial Co., Ltd, Ningbo BST Metal Products Co., Ltd, Nippon Steel, Novolipetsk Steel (NLMK), Nucor Corporation, Parana Metal, POSCO, Pramec SAS, Pretoria Schmiede Cc, Qatar Steel Company, S A Iron & Steel Institute (SAISI), Schaeffler, Severstal, Shanghai Electric Group Co Ltd, Sicamar Metals Mitsui and Co, Siderca, SKF Argentina S.A, Snap-on, Sovereign Steel Manufacturing, Summit Utility Structures LLC, Suzuki Garphyttan Ab, SWR Group, Tata Steel Limited

Which Regions Will Dominate the Metal Products Market Through 2029?
Asia-Pacific was the largest region in the metal products market in 2024. Western Europe was the second-largest region in the metal products market. The regions covered in the metal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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