Sheet Metal Market Information: By Material Type (Steel, Aluminum, Others), By Process (Rolling, Forging, Bending, Others), By End-Use (Building & Construction, Automotive & Transportation, Consumer Appliances, Energy, Others) - Forecast to 2030

Sheet Metal Market Overview

The sheet metal industry is expected to occupy at a CAGR of 4.6% where it attains a market value of USD 398.52 billion during the forecast period and extends till 2027. The combination of different metal elements leads to the formation of sheet metal. Elements of metal ingots, billets, and blooms to slim and stretchable pieces on the application of different industrial processes lead to the formation of the sheet market. These sheets are highly durable, have high strength, have recyclability properties, and are corrosion resistant. Sheet metals are one of the richest forms so used for metalworking applications.

The metal when cut and bent owes to the formation of a variety of shapes where it attains the necessary profile where it can be used for other applications. Some of its most fundamental applications are the discovery of automobile parts, metal chassis, cabinets used for electrical purposes, HVAC pipes, and architectural cladding. Titanium metal occupies the overall market and is the most preferable metal so used till now. Titanium is used in aircraft skin, used for its structural and engine components, used for hydraulic systems, used for the production of missiles and rockets.

COVID 19 ANALYSIS

The outbreak of COVID largely affected the production and manufacturing units. Economic loss, as well as labor loss, was marked. Lockdown and shutdown had a high impact on the production as they also led to the shutting down of the units. The government has imposed certain guidelines for the safety of the nationwide people.

COMPETITIVE LANDSCAPE

Some of the competitors in the metal sheet market are 

• NIPPON STEEL CORPORATION in Japan- VIEW KOTE,


• POSCO of South Korea,


• JFE Steel Corporation of Japan-JATT,


• Baosteel Group of China,


• Norsk Hydro ASA of Norway,


• Aaronic of the United States,


• Alcoa Corporation of the United States,


• Aditya Birla Management Corporation Pvt Ltd of India,


• United States Steel of the United States,


• Aleris Corporation of the United States,


• Constellium of the United States,


• Kaiser Aluminium of the United States and


• Hulamin of South Africa.

These key players are highly integrated due to their regional presence. They have been trying their best to improve since last year and are continuing to do so.

MARKET DYNAMICS

MARKET SEGMENTATION

REGIONAL ANALYSIS

The market extends to the region of Europe, Asia Pacific, North America, Latin America, and regions of the Middle East and Africa. Asia Pacific region is expected to occupy the largest and is said to be the fastest-growing market during the market forecast period. The market growth is due to the rise in industrialization and urbanization. The large increase in population boosts up the production and manufacturing of the sheets. Europe is marked to hold the second-largest sheet metal market share during the sheet market forecast period. This European region is said to be very much in demand due to its large-scale production of automobiles, which leads to the rise in the consumption of metal sheets. This region is very much concerned about its energy conservation due to which it adopts an effective energy transportation system. Moreover, the North American region holds a significant share in the forecast period of 2018. The healthy growth in this region contributes to its well-established energy sector and its highly demandable aerospace and defense units. The Aerospace and Defense Industry in the region of the United States holds a large sheet metal market value of USD 929 billion monetary returns. Latin America expands well in the automotive industry where the rise in the energy sector fuels up the regional expansion of sheet metal market size. The Middle East and African region bolster the market growth due to the increasing investment in the architectural infrastructural sector which beautifies the units.

RECENT DEVELOPMENTS

November 2021: Capstone Mechanical stated plans to expand its sheet metal production and employment opportunities and has won a USD 413,000 financial incentive from Waco and McLennan County to construct a USD 5.15 million manufacturing plant on Imperial Drive. Capstone serves the heating, air conditioning, ventilation, and plumbing industries with engineering and on-site services. It employs almost 170 people and, like other parts of the local construction industry, has experienced rapid expansion. It hired 50 new full-time employees last year and plans to hire 68 more for its 30,000-square-foot production and logistics hub.October 2021: Ansys, a market leader, announced plans to launch its first metal stamping simulation software in January, an all-in-one solution capable of meeting industry needs. With Ansys LS-DYNA as its solver, Ansys Forming enables digital design, simulation, and validation of sheet metal forming throughout the metal manufacturing process.

REPORT OVERVIEW

The report signifies the rise in metal sheet market growth during the upcoming years. It highlights the market scenario, the impact of COVID on the environment regions and globally. It signifies the surge in demand for transportation facilities owing to the growth in market size. It gives information about the growth factor and its market value during the forecast period. It signifies the recent developments and the market segmentation done in the market.