Metal Stamping Market Size, Share, Growth Analysis, By Process(Blanking, Embossing, Bending, Coining), By Application(Automotive, Industrial Machinery, Consumer electronics, Aerospace), By Region - Industry Forecast 2024-2031

Global Metal Stamping Market size was valued at USD 211.79 Billion in 2022 and is poised to grow from USD 222.17 Billion in 2023 to USD 325.75 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).

The increasing consumer electronics market is anticipated to be an important catalyst due to the use of metal frames in cell phones, speakers, headphones, and gamepads and controllers. Owing to its high tolerance, resistance to corrosion, conductivity to electricity, and shiny finish, metal stamping is used in the fabrication of antennas, chassis, & camera lens mounts in mobile phones. Global Metal Stamping Market. This is expected to increase demand for cell phones and, possibly, metal stamping in the coming years.

The United States is a major player in the sector. However, the development of COVID-19 and accompanying temporary lockdown measures across the country had an influence on industry activities. Due to supply chain issues and dried-up demand from end-use clients, downstream demand from major sectors such as automotive, aircraft, industrial machinery, and more has been significantly impacted. The situation has stabilized as vaccination rates have increased. The increased demand for metal stamping in the United States has prompted firms to expand their operations.

For instance, the General Motors Co. announced intentions to invest USD 6 million in its stamping metal operation in Parma, Ohio, U.S. The funds will be utilized to build four new metal assembling cells for the increased manufacturing of Chevrolet Silverado & GMC Sierra pickup vehicles.

According to the International Energy Agency (IEA), worldwide electric car (EV) sales topped 3.4 million in 2021, with China accounting for more than half of this total. Government actions, such as electric vehicle incentives to local manufacturers to assist the growth of EVs, are important drivers driving the increased manufacturing. This is anticipated to increase the use of sheet metal in the fabrication of vehicle components.

These components include the chassis, interior and external structural elements, and gearbox components. This, in turn, is likely to boost market growth throughout the forecast period. Market development may be hampered when automakers replace metals with plastic & carbon fiber to reduce vehicle weight. A 10% reduction in vehicle weight results in a 5% to 7% raise in fuel efficiency.

The increased production of lightweight automobiles due to severe regulatory rules in numerous countries is expected to generate demand for replacement items. In the United States, for instance, advancements in Corporate Average Fuel Economy (CAFE) requirements to improve fuel efficiency are boosting the use of these replacement materials in automobiles, which is projected to impair the market for metal stamping.

US Metal Stamping Market is poised to grow at sustainable CAGR for the next forecast year.