Metal Stamping Market

Updated on : June 27, 2024

Metal Stamping Market

The global metal stamping market was valued at USD 213.8 billion in 2023 and is projected to reach USD 257.1 billion by 2028, growing at 3.7% cagr from 2023 to 2028. The market growth is driven by increasing use of metal stamped in the construction, medical and automotive industries as well as by their increasing demand in the electricals & electronics products. The industrial machinery is the second-largest end-use industry of metal stamping. The industrial machinery industry frequently uses metal stamping to produce a wide range of components crucial to the operation of heavy-duty machinery. Metal stamping is used in industrial machinery to make components, such as gears, bearings, housings, and brackets, of stainless steel, high-strength steel, or aluminum. Metal stamping has a significant advantage in the industrial machinery industry due to its ability to produce customized high-precision, high-strength components in large volumes quickly and cost-effectively.

Attractive Opportunities in the Metal Stamping Market

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Metal Stamping Market Dynamics

Driver: Technological advancements and growing adoption of automation are the major drivers of the metal stamping market.

The metal stamping market is expanding due to technological advancements that have increased manufacturing efficiency, decreased costs, and increased precision and accuracy. For example, computer numerical control (CNC) machines are becoming increasingly common because they can perform tasks with excellent precision and accuracy, including drilling, milling, and turning. These computer-controlled machines can rapidly and effectively produce complex parts and components. Automation has supported the metal stamping industry by improving efficiency, lowering costs, and increasing productivity. It can also help improve consistency. The use of manual labour can be decreased, as automated stamping machines can carry out repetitive tasks quickly and accurately.

Restraint: Fluctuating raw material prices

Raw material price fluctuations can be a considerable restraint for the metal stamping market, affecting the profitability and competitiveness of metal stamping companies. Metal stamping necessitates using various raw materials, including steel, aluminum, copper, and other metals, to produce stamped parts. When the cost of these raw materials increases, the cost of production increases. If metal stamping companies pass on these increased costs to their customers, they may lose business to competitors who can offer lower prices.

Opportunities: Increasing scope of metal stamping in medical industry

The use of metal stamping in the medical industry is significant and increasing rapidly. Metal stamping is widely used in the medical sector to produce precise and high-quality metal parts for medical devices, implantable devices, surgical tools, and diagnostic equipment. The rising demand for minimally invasive surgeries, the increasing geriatric population, the rising prevalence of chronic diseases, and the growing demand for medical implants drive the growth of the medical metal stamping market. The trend toward medical device miniaturization also drives the demand for metal stamping in the medical industry.

Challenges:  Lack of standardization

The lack of standardization can cause several challenges for producers and customers. For example, manufacturers struggle to ensure consistent quality across different parts and orders due to a lack of standardization in measuring the quality of stamped parts. Lack of standardized quality control procedures could result in inconsistent product quality, higher rejection rates, and ultimately lower customer satisfaction.

Metal Stamping Market Ecosystem

By  Process, Blanking process accounted for the highest CAGR during the forecast period

Blanking is a metal stamping process used to cut sheet metal into a desired shape or size. It is preferred because it allows for high accuracy, speed, material efficiency, versatility, and can be easily automated. Blanking minimizes scrap material, making it a cost-effective process for high-volume production runs.

By  Material, Steel material accounted for the highest CAGR during the forecast period

Steel is used in almost every building and construction process due to its lightweight structure, cost efficiency, corrosion resistance, and energy efficiency. Steel is used in almost every type of manufacturing and construction, from surgical equipment to household items. Steel products have a lifespan of about 40 years and are 100% recyclable. Because the magnetic properties remain unchanged, this metal can be recycled continuously. Recycled steel can be used as an input for BF-BOF (Blast Furnace Basic Oxygen Route) and EAP (Electric Arc Furnace) methods, resulting in the production of a variety of new steel products. These factors make the steel most popular material in metal stamping industry.

By  Material thickness, ≤0.4 mm accounted for the highest CAGR during the forecast period

Materials with thicknesses of ≤0.4 mm are also known as “thin-gauge materials” in metal stamping Thin-gauge materials combine strength, flexibility, and precision in these applications, making them ideal for manufacturing complex parts with high tolerances and strict dimensional requirements. In addition to being strong and flexible, thin-gauge materials are very cost-effective because they require less raw material. As a result, they are ideal for mass-production applications where cost-effectiveness is critical.

By  Press type, Mechanical press accounted for the highest CAGR during the forecast period

Mechanical presses are a versatile and efficient tool for a wide range of metal stamping applications. Mechanical presses are widely used in metal stamping applications due to their high efficiency and ability to apply significant force to the metal. Mechanical presses are commonly used in metal stamping for various operations such as blanking, piercing, forming, coining, embossing, and drawing. They are versatile and efficient tools that can apply significant force to metal and shape it into specific sizes and contours.

By End Use Industry, medical accounted for the highest CAGR during the forecast period

The manufacturing of medical devices, particularly implants, must be carried out with the utmost precision and care to prevent any contaminants or defects, given their use in delicate medical procedures. Due to their sensitive nature, medical devices are manufactured to exceptionally high standards. Metal stamping offers several advantages, such as high precision, fast production, and low cost, making it an attractive manufacturing method for producing medical components in high volumes. Components manufactured via metal stamping include implants, connectors, surgical devices, temperature probes, pump & motor components, equipment housings & sleeves, couplings, fittings, and prosthetics.

North America is projected to account for the highest CAGR in the metal stamping market during the forecast period

The demand for metal stamping is expected to be driven by new product development and product innovation initiatives by the market players in North America. The automotive segment is projected to be the largest end-use industry in the North America. The transition to EVs is gaining traction, with major automakers investing heavily in this area. North America has several major automakers, including General Motors, Ford, and Fiat Chrysler (now known as Stellantis). These companies have a significant presence in the region, with several manufacturing facilities and R&D centres. Aside from automakers, North America has a thriving auto parts manufacturing industry. Many of the world's leading auto parts manufacturers, including Magna International, Linamar, and Martinrea International, have facilities in North America.

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Metal Stamping Market Players

Metal stamping market comprises key manufacturers such as Gestamp Automoción, S.A. (Spain), Arconic Corporation (US), American Axle & Manufacturing Holdings, Inc. (US), CIE Automotive S.A. (Spain), Interplex Holdings Pte. Ltd. (Singapore), AAPICO Hitech Public Company Limited (Thailand), Clow Stamping Company (US), Wiegel Tool Works, Inc. (US), Harvey Vogel Manufacturing Co. (US), ACRO Metal Stamping (US), Boker’s, Inc. (US), and Kenmode, Inc. (US) and others. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the metal stamping market. Major focus was given to the new product development due to the changing requirements of transportation and electronics product consumers across the world.

Read More: Metal Stamping Companies

Metal Stamping Market Report Scope

This research report categorizes the global metal stamping market on the basis of process, material, material thickness, press type, end-use industry and region.

Metal Stamping Market by Process

• Embossing
• Blanking
• Bending
• Coining
• Flanging

Metal Stamping Market by Material

• Steel
• Copper
• Aluminum

Metal Stamping Market by Material Thickness

• ≤0.4 mm
•  >0.4 mm

Metal Stamping Market by Press Type

• Mechanical
• Hydraulic
• Servo

Metal Stamping Market by End Use

• Automotive
• Industrial Machinery
• Construction
• Electricals & Electronics
• Aerospace
• Telecommunication 
• Medical

Metal Stamping Market by Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

The market has been further analyzed for the key countries in each of these regions.

Recent Developments

• In December 2022, Gestamp Automoción S.A. acquired a 33% strategic stake in Gescrap Group to enhance its ESG (Environmental, Social, and Governance) plan.
• In November 2022, Arconic Corporation completed the sale of its Russian operations to Promyshlennye Investitsii LLC due to increasing uncertainty in light of the current geopolitical environment in Russia.
• In May 2022, Gestamp Hotstamping Japan announced a new plant building on its premises in Matsusaka. The expansion of the Matsusaka plant is scheduled to be operational by June 2023.
• In February 2022, American Axle & Manufacturing Holdings, Inc. invested USD 15 million in Autotech Ventures in a partnership providing access to new opportunities that complement AAM’s mission to develop and produce the industry’s most efficient and powerful electric drivelines.
• In January 2021, Interplex has acquired OCP Group, Inc (OCP), a custom connector and cable assembly design and manufacturer based in San Diego, California, US.

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