- Metal stamping is a method of converting flat metal sheets into various sizes and shapes by making use of dyes. This method involves punching, bending, casting, blanking, flanging, cutting and embossing. The metal stamping market is witnessing huge growth at present. It is likely to expand at around 3 percent CAGR by 2019.
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The key factor driving the metal stamping market is technological improvements in metal stamping in the automotive sector. Additionally, strong production lines, increasing rebound manufacturing activities and further economic growth are boosting the demand for the market. However, the huge costs of raw materials can restrain the market over the coming years.
The metal stamping market can be trifurcated into applications, materials used and geographies. The market, on the basis of applications, can be fragmented into aerospace, agricultural machinery, automobile and household items. The automobile application leads the market.
The metal stamping market, on the basis of materials used, includes aluminum, magnesium and others. Others includes steel, nickel, molybdenum, tungsten and chromium. Aluminum and magnesium are primarily used in automotives due to their light weight properties. Geographically, the metal stamping market can be fragmented into four major regions, including North America, Europe, Asia Pacific and rest of the world (ROW).
North America and Europe are reported to be market leaders. Asia Pacific and Latin America have shown exponential growth. This is on account of rising demand for metal stamping, increasing outsourcing activities and growing capacity utilization. Low cost methods of metal forming and rising outsourcing of stamping are creating huge opportunities for the metal stamping market.
Information Source: Grand View Research
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