The Global Market for Metal Stampings, Forgings, and Castings is Projected to Reach US$633.4 Billion by 2022

Stable Automobile Production Trends and the Ensuing Spurt in Automotive Metalworking Activity to Sustain Growth in the Global Metal Stampings, Forgings & Castings Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Metal Stampings, Forgings, and Castings market. The global market for Metal Stampings, Forgings, and Castings is projected to reach US$633.4 billion by 2022, driven by stable automobile production trends, growing demand for precision automobile parts and components and the ensuing increase in automotive metalworking activity.

Metal stamping, forging and castings are important manufacturing processes that are critical to the production of a range of manufactured parts and finished goods. Metal stamping helps in transforming metals, typically flat metal sheets into desired shapes at ambient temperature by pressing, shearing, bending, folding and stretching. Forging, on the other hand, represents a process where compressive forces are applied on pre-formed metal blocks, typically heated to high temperature, to produce high-strength parts for a range of durable goods. Casting is a metal modification process that uses molten metal injected or poured into a custom mold where it solidifies and forms a molded product. Manufacturing plants related to heavy industrial machinery, automobile parts and components, locomotives, aircraft structure and components, and household appliances, among others, are heavy users of metal stamping, forgings and casting technologies.

The growth in the market is influenced largely by demand for manufactured durable goods such as automobiles, computers, and construction equipment, among others. The automotive industry represents a dominant end-use market with growth supported by the steady rise in demand for automobiles and automobile parts and components. Aluminum Castings are especially poised to benefit, given the growing use of lightweight aluminum parts in automobile interior and exteriors against the backdrop of OEM focus on fuel efficiency and emission reduction. Projected rise in demand for and production of industrial machinery against the backdrop of slow but encouraging recovery in construction industry is also expected to drive growth in the market. Increasing investments in renewable energy infrastructure and the ensuing development of clean energy infrastructure will spur demand for metal stamping, forging and castings in the manufacture of renewable energy equipment such as turbines, transformers, which demand superior fabrication capabilities to match material and finishing requirements.   

As stated by the new market research report on Metal Stampings, Forgings, and Castings, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.1% over the analysis period. The growth in the region is driven by stable GDP growth, steady expansion in manufacturing activity particularly outsourced manufacturing in low-cost nations such as India; new establishment of metalworking job shops; growing consumer spending and consumption and the ensuing demand for durable manufactured goods. Metal Stampings represent the largest revenue contributor in the market. Ferro-Alloy Castings, led by Gray Iron Castings, represents the fastest growing product segment with sales waxing at a CAGR of 6.0 % over the analysis period.

Key players covered in the report include Alcoa Inc., American Axle & Manufacturing Holdings Inc., Anchor Lamina Inc., Bharat Forge Limited, Doncasters PLC, Georg Fischer Ltd., Interplex Holdings Ltd., Magna International Inc., Meridian Lightweight Technologies Inc., Metaldyne Corporation, Precision Castparts Corp., Wyman-Gordon (Subsidiary of Precision Castparts), SeAH Besteel Corporation, Shiloh Industries Inc., Sumitomo Corporation, Tower International, voestalpine AG, and Worthington Industries Inc., among others.

The research report titled “Metal Stampings, Forgings, and Castings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed in the report include Metal Stampings, Metal Forgings (Iron & Steel Forgings and Non-Ferrous Forgings), Ferro-Alloy Castings (Gray Iron Castings, Ductile Iron Castings, Malleable Iron Castings, Carbon Steel Castings, High Alloy Steel Castings, and Other Alloy Steel Castings), and Non-Ferrous Metal Castings (Aluminum Castings, Copper Castings, Lead Castings, Magnesium Castings, Zinc Castings, and Other Non-Ferrous Metal Castings).

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