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Metal Stampings, Forgings, and Castings - Global Market Trajectory & Analytics

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    Report

  • 626 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 600095

Global Metal Stampings, Forgings, and Castings Market to Reach $536.3 Billion by 2026


Metal stamping, forging and castings are important manufacturing processes that are critical to production of a range of manufactured parts and finished goods. The manufacturing industry is a critical growth driver and the shifting role of manufacturing and its level of contribution to economic development tend to impact growth patterns in the market. Growth in the market is set to be driven by steady demand for manufactured durable goods such as automobiles, computers, and construction equipment, among others. Increase in demand for finished products also increases manufacturer investments on a range of production machinery, thus driving demand for machinery parts and influencing rise in their production, which also warrants metal stamping, forgings and castings. Besides demand from end-use markets, availability and price of metal used in stamping, forging and casting processes is also critical for growth prospects.

Amid the COVID-19 crisis, the global market for Metal Stampings, Forgings, and Castings estimated at US$437.5 Billion in the year 2022, is projected to reach a revised size of US$536.3 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Ferro-Alloy Castings, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$219.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Ferrous Metal Castings segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $77.4 Billion in 2022, While China is Forecast to Reach $189.1 Billion by 2026


The Metal Stampings, Forgings, and Castings market in the U.S. is estimated at US$77.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$189.1 Billion by the year 2026 trailing a CAGR of 6.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. Healthy economic environment, increase in manufacturing activity and rising demand for various finished goods drive demand in Asia-Pacific region. The shift of production activity from developed markets to low cost destinations such as China, India, Taiwan, and Vietnam also provided growth opportunities for the metal stampings, forgings and castings in the region. Automation of manufacturing units and increased use of production line machinery in these regions also contributed to market growth.

Metal Stampings Segment to Reach $158.5 Billion by 2026


Stamping involves application of force hydraulic or mechanical presses to metal sheet through hard tooling to produce parts in required design and is considered as one of the most common and economical ways of producing components, as compared to alternate processes. Metal stampings find application in diversified industries including automotive, computers, farm machinery, electrical appliances, utensils, aviation, furniture, office machines, laundry equipment and others. Iron and steel represents most widely used metals in stampings, while aluminum also accounts for significant share. Automotive industry represents major end-use market for metal stampings. In the global Metal Stampings segment, USA, Canada, Japan, China and Europe will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$104.1 Billion will reach a projected size of US$134.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$16 Billion by the year 2026, while Latin America will expand at a 3.8% CAGR through the analysis period.

Micro Cold Forging Process in the Spotlight


The process of forging dies experiences several failure mechanisms such as mechanical fatigue in cold forging and thermal fatigue in hot forging which leads to formation of cracks in die surface, known as `heat checking`. Fatigue failures cause the forging die to generate parts with poor quality surface finish until it is repaired. Other common forms of die failure include abrasive wear caused by surface hardness. Micro Cold Forging (MCF) was developed to overcome the inherent drawbacks present in metal forging process. MCF is a surface treatment method used in repairing forging dies or preparing the die`s surface area to minimize die cracking and transfer of material. Also referred to as `machine hammer peening`, the proprietary process developed by Accurapuls intends to maximize the die service life and reduce the time consumed and costs associated with die replacement or repair. The highly automated surface treatment process offers key benefits such as hardness improvements, reduced or optimal surface roughness and improved fatigue performance.

MCF is also applied in surface finishing process to achieve a smoother surface consistency in comparison with grinding and milling. The automated technique uses an electromagnetically controlled hammer tool attached to the CNC milling machine or to a special-purpose machine or a robot. The air-cooled peening hammer guided by the spherically steel tipped striker produces rapid reciprocating action with an accompanying impact force on the workpiece surface to treat the surface or achieve the desired form. The peening hammer achieves a hit frequency ranging from 20 to 500 hits per second with an impact force of 400 pounds per hit. The process is expected to increase the die surface hardness by a depth of 1.4mm and last longer by 95% during repair intervals. The proprietary CAM software provided by Accurapuls offers programming up to seven axes and uses the CNC platform to control the penning operations. MCF presents a viable option for increasing the hardness and improving the wear performance of hot-forging dies. The process also facilitates strain hardening which increases the tensile strength of the workpiece and extends service life of the forging die. To avoid greater abrasive wear or a very smooth die surface, the optimal surface roughness for a forging die ranges between mean roughness of 0.51 µm and 1.5 µm. Based on process parameters such as the hammering force and diameter of the striker-ball, MCF produces surface roughness ranging between 0.3 µm and 1.54 µm. These surface roughness specifications in combination with the automated process promises potential for forging-die polishing as the traditional process of hand polishing is time consuming, requires skilled personnel and suffers from inconsistencies such as human error. The benefits of automation and savings create demand opportunities for MCF in forging die repair and finishing. Other possible application areas include hydroforming, automotive stamping and drawing, injection molding, diecasting and other capital intensive industries with requirements for die repair.

Select Competitors (Total 682 Featured):

  • Alcoa Corporation
  • Aludyne, Inc.
  • American Axle & Manufacturing, Inc.
  • Bharat Forge Limited
  • DAYTON Lamina Corporation
  • Doncasters Group
  • Georg Fischer Ltd.
  • Interplex Holdings Pte. Ltd.
  • Magna International Inc.
  • Meridian Lightweight Technologies
  • Precision Castparts Corp.
  • SeAH Besteel Corporation
  • Shiloh Industries Inc.
  • Sumitomo Corporation
  • Voestalpine AG
  • Worthington Industries

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Outbreak Poised to Dent Market Prospects
  • COVID-19 Crisis Weakens Global Economic Environment, Triggering Negative Tide in GDP & Industrial Output Forecasts
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • An Introduction to Metal Stampings, Forgings and Castings
  • Metal Stampings
  • Metal Forgings
  • Ferro-Alloy Castings & Non-Ferrous Metal Castings
  • Metal Stampings, Forgings and Castings: A Prelude
  • Developing Countries Propel Market Growth
  • Manufacturing PMI Indices for Select Asian Countries for Jan 2020 to May 2020
  • Recent Market Activity
  • Metal Stampings, Forgings, and Castings - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Metal Stampings Market: End-Use Dynamics Influence Demand Trends
  • Blanking Emerges as the Most Widely Used Metal Stamping Technique
  • Global Metal Stamping Market by Technology (in %) for 2020E
  • Automotive Industry: The Leading End Use Market for Metal Stamping
  • Global Metal Stamping Market by Application (in %) for 2020E
  • Advances in Metal Stamping Technology Augurs Well for Future Market Prospects
  • Ferro-Alloy Castings: A Major Product Category
  • Non-Ferrous Metal Castings Segment to Benefit from Aluminum Castings Demand
  • Aluminum Castings Represent the Most Popular Category
  • Global Aluminum Castings Market: Breakdown (in %) by End-Use Sector for 2020
  • Metal Forgings: Applications in Automotive and Aerospace Sectors
  • Global Metal Forgings Market by Raw Material (in %) for 2020
  • Automotive Production Trends Determine Growth Dynamics of Metal Stampings, Forgings & Castings Market
  • World Automobile Production in Million Units: 2008-2022
  • Opportunities for Automotive Metal Stamping
  • Global Automotive Metal Stamping Market by Technology (in %) for 2020E
  • Metal Castings in Automotive Market: A Review
  • Auto Industry Shift towards Light Metal Stampings & Cast Parts
  • Die Cast Auto Parts to Find Favor As Engineering Focus Shifts to Lightweighting
  • Lightweighting Trend Catalyzes Application of Die Cast in Auto Parts: Average Weight of a Passenger Car (In Kgs) for the Years 1990, 2000, 2006, 2016 & 2019
  • Strong Preference for Aluminum Castings in Automotive Segment
  • Steel Growing in Prominence in Automobiles
  • Employing Environmental Friendly Practices
  • Limited Success of Traditional Design Principles
  • Smaller Lots Production Demand Reduction in Die Costs
  • Extended Die Life, Decentralized Structure to Achieve Cost Reduction
  • Production Machinery Demand Shapes Trends in Metal Stampings, Forgings & Castings Market
  • Mechanization of Agriculture Adds to the Demand
  • With Air Travel Coming to a Grinding Halt, Demand for Stamped, Forged and Cast Aircraft Structures and Components Decline
  • Global Airlines Performance by Region: 2020 Vs 2019
  • Consumer Appliances & Electronics Demand Sets the Tone for Aluminum Castings Market Growth
  • Rising Significance of Castings in Energy Production Chain Spurs Demand from Power Industry
  • Global Energy Generation Mix (in %) for 2018 and 2050
  • Novel Defense Applications Offer Growth Opportunities
  • Technological Advancements in Casting Systems Spur Growth
  • Simulation-based Castings Continues to Gain Traction
  • Product Developments & Technology Innovations
  • Newer Possibilities in Forging Processes Deploying High-Entropy-Alloys
  • Stereolithography for the Process of Investment Casting
  • Micro Cold Forging Process Maximizes Service Life of Forging Dies
  • Metal 3D Printing to Overcome Shortcomings of Traditional Metal Casting
  • Additive Manufacturing Improves Durability and Mechanical Properties of Forging Preforms
  • Isothermal Press Technology Facilitates Forging of Titanium Aluminide
  • Development of Specialized Aerospace Materials
  • Robotic Metal Stampings, Forgings and Castings
  • Precision Stampings Comes to the Fore
  • R&D Efforts Promise a Bright Future for Magnesium Castings
  • Key Issues & Challenges
  • Emergence of Plastics as a Substitute
  • Captive Inhouse Casting Operations of End-Customers: Threat to Dedicated Metal Casters
  • Rising Raw Material Prices & Supply Concerns
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Amidst COVID-19 Crisis, Manufacturing Activities Come to a Halt
  • Castings: The Foundation of US Manufacturing Sector
  • Look into the Opportunities in Major End-Use Markets
  • US Market for Aluminum Castings in Light Vehicles: Percentage Composition of Aluminum Castings in Different Vehicle Parts for 2016 & 2020
  • Metal Stamping & Forging Industry: A Review
  • The Metal-Stamping Machinery Market
  • US Brands
CANADA
JAPAN
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • COVID-19 Pandemic Affects the China’s Manufacturing Activity, Affecting Growth Outlook
  • An Insight into Chinese Die Casting Market
  • Innovations in Forming Technologies: Opportunities for Hot Closed Die Forging Market
EUROPE
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • European Forging Companies Focus on Next-Generation Forgings
FRANCE
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • A Major Market for Metal Stampings, Forgings & Castings
  • Automobile Industry: Vital Role to Play in Die-Casting Market
ITALY
UNITED KINGDOM
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Developing Markets Benefit from Outsourced Manufacturing Activity
  • Metal Castings Market in Asia-Pacific: An Overview
AUSTRALIA
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Forging Industry in India: An Overview
  • India: A Major Cast Metals Hub
  • Indian Castings Market: Percentage Breakdown of Volume Shipments by End-Use Segment for 2019
  • Auto Industry: Critical Determinant of Growth in the Indian Die Casting Market
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Metal Stampings, Forgings, and Castings Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
BRAZILMEXICOREST OF LATIN AMERICAREST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 682

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alcoa Corporation
  • Aludyne, Inc.
  • American Axle & Manufacturing, Inc.
  • Bharat Forge Limited
  • DAYTON Lamina Corporation
  • Doncasters Group
  • Georg Fischer Ltd.
  • Interplex Holdings Pte. Ltd.
  • Magna International Inc.
  • Meridian Lightweight Technologies
  • Precision Castparts Corp.
  • SeAH Besteel Corporation
  • Shiloh Industries Inc.
  • Sumitomo Corporation
  • Voestalpine AG
  • Worthington Industries