The rising competition in the automotive industry has led to the growth in demand for the global metal stamping market. In global metal stamping market, the desired shape of the metal is achieved by pressing or punching process with the help of stamping dies. The process of punching or the application of pressure can be done either manually or mechanically as per the requirement. Metals predominantly used in the global metal stamping market are aluminium, steel, brass, copper and stainless steel. Global metal stamping market is expected to grow with a single digit compound annual growth rate during the forecast period.
The increasing technological advancement and development in the automotive industry is the major driving force for the growth of global metal stamping market. In case of an automobile, global metal stamping market finds its usage in side panels, brackets, bonnets, roofs, hangers, etc. The growing demand in consumer electronics, aerospace, electrical & electronics, engineering machinery, defence and telecommunication are some of the other driving factors for the growth of global metal stamping market.
The evolution of metal stamping of next generation has generated a dynamic pull for the growth of global metal stamping market. In this, the usage of dies is optional thus it saves time and optimises the cost for the company. The increasing usage of other processes specially casting and forging during the formation of metal as they produce quality products and also have the flexibility in being used in the formation of heavy metals and also the high cost of raw materials are the challenges faced by the global metal stamping market.
Metal Stamping Market: Segmentation On the basis of product type: Vehicle stamping, Job stamping, Others; On the basis of end users: Automotive, Aerospace, Consumer electronics, Telecommunication, Electrical & electronics, Others Global metal stamping market in North America and Europe is anticipated to grow at a good pace due to the growing demand in the automotive industry.
The global metal stamping market is estimated to grow with a single digit CAGR in North America during the forecast period. The industry is replacing ferrous materials with non-ferrous materials in order to reduce the vehicle weight. In the developing regions, Asia and Latin America are expected to be the prospective market due to the expansion of capacity utilization and also the growing trend of outsourcing.
Some of the few key players in global metal stamping market are: American Industrial Company, Martinrea International Inc., Magna International Inc., Hayes Lemmerz International, Harvey Vogel Manufacturing Co., Haitong Metals, D&H Industries, Inc., Dongguan Fortuna Metal Stamping Company, ThyssenKrupp AG, Alcoa Inc. and American Axle & manufacturing, Inc. Some of the key vendors in global metal stamping market are: Fiat Chrysler Automobiles, Toyota Motor Corporation, Ford Motor Company, General Motors, BMW AG, Whirlpool and Boeing.