NEW YORK, Aug. 14, 2019 /PRNewswire/ --
Metal Stamping Market Size, Share & Trends Analysis Report By Process (Embossing, Blanking, Bending), By Application (Automotive, Industrial Machinery), By Region (MEA, North America, APAC), And Segment Forecasts, 2019 - 2025
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The global metal stamping market size is expected to reach USD 299.63 billion by 2025 registering a CAGR of 4.2% Growing demand from the automotive and electronics sectors is projected to augment the market development. Increasing global trade and rising competition are major drivers for the automotive industry. Asia is one of the major producers and consumers of automobiles. For instance, the Indian auto components sector reached around USD 51.2 billion in 2017. This sector accounts for 2.3 percent of country's GDP. These factors are projected to drive the market.
Moreover, major companies, such as Honda, Toyota, General Motors, Daimler Chrysler, and Volkswagen, have started moving their production bases in developing countries like India, which is projected to drive the market in the region.Hot stamping products have numerous growth opportunities.
These products are thin and very strong and can be used to improve safety and strength while reducing the weight of the vehicles. Rising demand for metal stamping products in the electronics industry is also expected to drive the market in near future.
Semiconductors used in mobile devices can be manufactured with different combinations of resins and fibers by using embossing and other techniques, which is projected to propel the market growth.However, rise in use of polymer products is projected to critically impact the market during forecast period.
Auto-makers prefer polymers over metals as it helps reduce the weight of vehicles, thereby improving the overall efficiency. Technological advancements in this sector have enabled replacement of steel with high-performance polymers, such as thermoplastics, in different applications.
Further key findings from the study suggest:
• In terms of revenue, blanking segment is anticipated to register the highest CAGR of 4.6% over the forecast years
• Automotive application led the global metal stamping market in 2018 accounting for a market share of 36.4%
• Asia Pacific is anticipated to be the largest and fastest-growing regional market during the forecast period
• In terms of revenue, CSA is projected to be the second fastest-growing regional market
• Growing automotive sector coupled with increasing electronics demand in CSA is likely to drive the regional market
• Some of the key companies in the market are Acro Metal Stamping; Lindy Manufacturing Co.; Alcoa, Inc.; Manor Tool & Manufacturing Company; Kenmode Precision Metal Stamping; and D&H Industries
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