According to this latest publication from Meticulous Research®, the global metal stamping market is expected to grow at a CAGR of 3.9% from 2018 to reach USD 289.2 billion by 2023.

Metal stamping is nothing but metalworking. It is actual process of Convert flat sheet metal into net shape. Metal stamping includes a variety of sheet-metal forming manufacturing processes, such as Blanking, Embossing, Bending, Deep Drawings.

Blanking market commanded the largest share of global metal stamping market in 2017. However, metal bending market is expected to grow at the fastest CAGR during the forecast period, owing to rising adoption of bending process across many industry verticals for improving the quality, durability, and stability of manufactured parts. Moreover, deep drawing stamping market is also expected to witness significant growth through 2023, as the adoption of deep drawing process for the production of complex parts across various industries is increasing with rising complexity in the product design, technological advancements, and product innovations.

Different materials are used in the metal stamping like steel, aluminum, copper, etc. steel stamping market dominated global market in 2017 owing to steel’s easy and high availability, high strength, and low cost; however, aluminum stamping market is expected to witness a rapid growth during the forecast period. The aluminum is comparatively soft alloy than the stainless steel; is non-magnetic; and has good thermal and electrical conductivity. It is also more elastic and malleable than steel and has better corrosion resistance property than steel stampings. Therefore, it is an effective alternative to steel metal, thereby witnessing a growing demand from automotive, commercial food equipment, railway, aerospace, electronics, and electrical industries.

The growth of this market will be driven by factors such as rising urbanization and industrialization, growing automotive industry, increasing demand from aerospace and aviation industry, and a rise in technological advancements. Moreover, rising use of sheet metal across manufacturing industries and growing investments into metal stamping facilities further supports the growth of this market. However, the emergence of plastics & composite materials hinders the growth of the market to some extent.
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