Forging Billets Market: Asia-Pacific Leads with 39% Share as Novelis Emerges as the Fastest-Growing Future Player

The Global Forging Billets Market reached USD 1.6 billion in 2022 and is expected to reach USD 2.1 billion by 2031, growing with a CAGR of 9.2% during the forecast period 2023 to 2030., according to DataM Intelligence.

United States: Recent Industry Developments

✅ In October 2025, Alcoa expanded its U.S. aluminum billet casting capacity by 25% in Tennessee facilities, partnering with aerospace firms like Boeing to supply lightweight alloys for aircraft components, enhancing fuel efficiency by 15% amid rising EV and aviation demands.

✅ In September 2025, Ellwood City Forge launched stainless steel billet variants certified for corrosion resistance, targeting oil & gas sectors via e-commerce platforms for high-pressure valve applications.

✅ In August 2025, AMETEK introduced alloy steel billets for automotive forged parts, compliant with SAE standards and distributed through Grainger for premium engine block production.

Get a Free Sample PDF Of This Report (Get Higher Priority for Corporate Email ID):
https://www.datamintelligence.com/download-sample/forging-billets-market?sindhuri

Japan: Recent Industry Developments

✅ In October 2025, UBE STEEL adopted AI-driven simulation software in its Japanese operations, improving carbon steel billet quality by 18% for railway wheel exports to Asia-Pacific markets.

✅ In September 2025, Deutsche Nickel collaborated with local automotive suppliers to develop high-strength alloy billets for lightweight chassis, focusing on emissions reduction under national green mobility initiatives.

✅ In August 2025, Japan's Ministry of Economy, Trade and Industry subsidized closed-die forging R&D for 4,000 tons of annual billet output, supporting aerospace and power generation applications.

Asia-Pacific: Recent Industry Developments

✅ In October 2025, Hindalco Industries opened a new billet extrusion plant in India for aluminum variants, supplying B2B clients in construction with durable flanges and rings for infrastructure projects.

✅ In September 2025, Emirates Global Aluminium imported record volumes of recycled steel billets from Europe, driven by booming railway expansions during China's 14th Five-Year Plan investments.

✅ In August 2025, Matalco launched square billet solutions in Southeast Asia, integrating with open-die processes for oil & gas valves in emerging energy hubs.

Market Trends & Drivers
The Global Forging Billets Market is thriving due to surging demand for high-strength, lightweight materials in automotive, aerospace, and infrastructure sectors, expanding applications in forged parts like axes, flanges, discs, and valves, and rising awareness around fuel efficiency, emissions reduction, and durability in harsh environments. Key trends include innovation in materials (e.g., alloy steel for strength, aluminum for weight-saving), growth in processes (closed-die for precision, open-die for large components), and increasing adoption in sustainable manufacturing (recycled billets, CAD-optimized forging). The rise of urbanization and e-commerce for industrial supplies, premiumization in emerging markets, and regulatory pushes for green steel (EU Carbon Border Adjustment, ASTM standards) are significantly accelerating market expansion amid shifting industry preferences for versatile, corrosion-resistant, and cost-efficient forging billet solutions.

Speak to Our Analyst and Get Customization in the report as per your requirements:
https://www.datamintelligence.com/customize/forging-billets-market?sindhuri

Competitive Landscape

The market is moderately consolidated among North American, European, and Asia-Pacific producers, with intense competition in alloy innovation, recycling tech, and process efficiency.

» Alcoa Corporation dominates with an estimated 13.6% share, leading North America with vertically integrated aluminium billets tailored for aerospace and automotive industries worldwide.

» Ellwood City Forge holds approximately 12.1% share, excelling in stainless-steel billet variants for oil & gas and export pipelines.

» UBE STEEL Co., Ltd. commands roughly 10.8%, specializing in carbon-steel billets for rail, power generation, and heavy infrastructure applications.

» Deutsche Nickel retains around 9.4% share, focusing on high-strength nickel-alloy billets for lightweight automotive components and specialty sectors.

» AMETEK Inc. holds about 8.9% share, known for custom billet services and precision-machined components for US industrial sectors.

» Hindalco Industries Ltd. secures 8.2% share, innovating recycled aluminium billets and conducting large-scale upstream production for APAC infrastructure.
» Matalco Inc. controls nearly 7.3%, focusing on square-section billets for open-die forging and emerging-market supply chains.

» Vista Metals Corp. holds about 6.7% share, targeting aerospace-grade billets and expanding high-purity supply lines globally.

» Emirates Global Aluminium (EGA) captures 5.8% share, supplying durable aluminium alloy rods and billets for energy and infrastructure demands in the Middle East and Africa.

» Alleima (formerly Sandvik Materials Technology) commands 5.2% share, pioneering advanced materials for valves, rings and high-performance applications in pharmaceuticals and specialty industries.

✦ Upcoming Key Player - Novelis Inc.Estimated to capture an additional ~4.0% share growth in coming years, Novelis is scaling global recycling-integrated billet production, targeting circular-economy aluminium supply and downstream lightweight structures for EVs and mobility.

Buy now and enjoy a 30% year-end discount - limited-time offer!
https://www.datamintelligence.com/buy-now-page?report=forging-billets-market?sindhuri
(Purchase 2 or more Reports and get 50% Discount)

Segmentation

☛ By Type

The global forging billets market is segmented into Round Billets (68%) and Square Billets (32%). Round Billets dominate due to their widespread use in automotive shafts, seamless tubes, and aerospace-grade components. Meanwhile, Square Billets are gaining traction in open-die forging for modular and large-size industrial equipment.

☛ By Product

Product segmentation includes Axes (8%), Flanges (12%), Discs (10%), Forged Parts (28%), Rings (14%), Valves (11%), and Others (17%). Forged Parts lead the market, driven by diversified applications across machinery, construction, and heavy engineering. Rings and Valves are fast-expanding due to rising demand in power generation, oil & gas, and renewables.

☛ By Material

The market is categorized into Carbon Steel (37%), Alloy Steel (21%), Stainless Steel (18%), Aluminum (15%), and Others (9%). Carbon Steel dominates global share due to affordability and high mechanical performance required in automotive and industrial forgings. Aluminum is the fastest-growing segment, reflecting lightweighting trends in EVs, aerospace, and modular construction.

☛ By Process

Forging processes include Closed Die (59%), Open Die (32%), and Others (9%). Closed Die leads the market due to precision, repeatability, and suitability for high-volume components like discs, flanges, and rings. Open Die is accelerating with demand for large turbine parts, railway axles, and energy-grade forgings.

☛ By End-User

End users include Automotive (31%), Aerospace (14%), Oil & Gas (18%), Power Generation (12%), Construction (11%), Railways (7%), and Others (7%). The Automotive segment dominates, driven by forged drivetrain, transmission, crankshaft, and axle requirements. Aerospace is rapidly scaling, with OEMs transitioning to precision aluminum and alloy billets for fuel-efficient and lightweight turbine and airframe components.

Regional Analysis

» Asia-Pacific dominates the global forging billets market, accounting for ~39% share, driven by automotive manufacturing acceleration across China, India, Japan, and Thailand, coupled with large-scale infrastructure, rail, and renewable projects. Rapid investments in aluminum and alloy variants are further strengthening export capacity.

» Europe holds ~23% of the market, supported by strong automotive exports, aerospace hubs, and Industry 4.0-based forging automation. Germany, Italy, France, and the UK demand advanced alloy and stainless billets for precision, lightweight components.

» North America represents ~19% share, driven by defense aerospace programs, EV manufacturing, and oil & gas sector requirements. The U.S. leads demand for stainless and aluminum billets, especially in high-pressure and high-strength engineering applications.

» Middle East & Africa collectively account for ~10%, with demand rising from energy megaprojects, oil & gas processing, and large-scale infrastructural development. Carbon steel billets dominate due to high-strength, cost-effective requirements.

» South America holds ~9% share, with Brazil and Argentina emerging as key consumers. Imports remain significant, especially for alloy and stainless billets used in construction, machinery, and industrial forging applications.

Have a look at our Subscription Dashboard:
https://www.youtube.com/watch?v=x5oEiqEqTWg

Contact Us:
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us:
DataM Intelligence is a full-service market research and consulting firm, guiding organizations from initial insight to strategic implementation. We transform proprietary data, emerging trends, and market developments into agile, actionable solutions.
Our robust methodology powers a vast research database featuring 6,300+ syndicated and custom reports across 40+ industries. We have delivered strategic solutions to 200+ companies in 50+ countries, addressing the core research challenges that drive growth for our clients.

This release was published on openPR.