Rising Demand Across Various Industries
Customization of metal stamping is being increasingly required by the end-users, across numerous industries. In the electrical and electronics industry, for instance, ESI Engineering Specialties Inc. was approached by a company named AFC Cable Systems for redesigning of an existing electric connector cover. The process was complicated and time consuming, mainly because some connectors needed to be completed with a full cover, while the others didn’t. Metal stamping is applied in industries such as healthcare, automotive, agriculture, aerospace, etc. Furthermore, the metal stamping process can be applied to a number of metal alloys that include copper alloys, aluminium alloys, nickel alloys, steel and stainless alloys, amongst others. In the electrical and electronics industry, for example, copper alloys are mainly used due to the corrosion resistance that is offered by these alloys. Furthermore, copper alloys are being used in the manufacturing of cooking and food processing instruments due to the superior thermal conductivity of copper. Even heat distribution is made possible through the use of copper alloys. These factors are helping in the growth of the global stampings market.
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Asia Pacific is expected to Grow at the Fastest Growth Rate Over the Forecast Period (2021 – 2029) in the Global Stampings Market
Rise in focus on manufacturing in numerous countries, especially in the Asia Pacific region, is expected to provide huge growth opportunities for the market participants in this region. Various global players are setting up their manufacturing plants in this region, with an aim to promote the growth of small and middle level enterprises to boost the adoption of metal stamping. Additionally, the emergence of online B2B sales channels is further widening the scope of various market participants to reach markets with ease. Websites such as IndiaMart and Alibaba, for instance, provides ample opportunities for the companies to reach markets where there is high demand for stamped metal parts. This plays a vital role in increasing revenue for the market participants in the global stampings market.
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Market Size and Estimates:
The global stampings market was valued at US$ 201818.6 Mn in 2020 and is projected to grow at a CAGR of 5.13% over the forecast period (2021 – 2029). The usage of stamping in the manufacturing of car body panels, transmission components, and interior and external structural components is expected to stimulate the demand for stamping market. By 2029, the market is expected to be worth US$ 315405.6 Mn. Another factor is the presence of proper distribution channels, both online and offline, which plays a vital role in determining the growth of the global stampings market. . Offline distribution channels play a major role in helping the market participants reach the end-users. However, the growth of online distribution channel, especially online company e-commerce channels, is expected to help the companies reach the end-users directly, thereby limiting the role of other distributors.
Competitive Landscape:
Some of key players operating in the global stampings market are AAPICO Hitech Public Company Limited, ACRO Building Systems, American Industrial Co., Caparo, CIE Automotive, Clow Stamping Company, D&H Industries, Inc., Goshen Stamping Company, Harvey Vogel Manufacturing Co., Kenmode, Inc., Klesk Metal Stamping Co., Manor Tool & Manufacturing, Nelson-Miller.com, Sertec Group Ltd, Tempco Manufacturing Company, Inc., WIEGEL TOOL WORKS, INC amongst others.
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Global Stampings Market
By Services
- Custom
- Standard
By Process
- Blanking
- Coining
- Bending
- Embossing
- Others
By Stamping Type
- Progressive Die Stamping
- Fourslide Stamping
- Transfer Die Stamping
- Deep Draw Stamping
- Others
By Industries
- Agriculture
- Consumer Goods
- Automotive
- OEM
- Aftermarket
- Medical
- Micro-miniature parts
- Insulin pumps
- Surgical Devices
- Others
- Construction
- Furniture
- Power Transmission
- Material Handling
- Electrical and Electronics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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