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Global Stamped Metal Market
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The stamped metal market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East and Africa. In 2019, Asia-Pacific was the largest region in the stamped metal market.To get more news about Stamping steel parts, you can visit tenral.com official website.
Stamped Metal Market Global Report 2020 from the publisher provides the strategists, marketers and senior management with the critical information they need to assess the global stamped metal market as it emerges from the Covid 19 shut down.
The stamped metal market covered in this report is segmented by the process into blanking, embossing, bending, coining, deep drawing, flanging, others. It is also segmented by material into steel, aluminum, copper, others and by application into automotive, industrial machinery, consumer electronics, aerospace and aviation, electrical and electronics, telecommunications, medical devices, defense, others.
Increase in demand for metal components in the aviation industry is projected to drive the stamped metal market. Aerospace manufacturers use stamped metal to meet the need of many specifications, this technique allows manufacturers to create high-quality precision components that can comply with strict requirements. For example, Wiegel Tool Works has been a trusted manufacturer of metal stamped components for over 77 years for OEM and tier manufacturers in the aerospace industry.
Automation in the stamped metal industry is a key trend driving the growth of the stamped metal market. Automation in the stamped metal industry increases production at cheaper rates by using advanced technology such as laser cutting, allows extremely high accuracy and improved output speed. The use of robotics or automated systems for repeat activities decreases the necessary manpower in the stamped metal industry as the robots can perform a number of processes, such as bending and cutting. North America is expected to grow further in the automation stamped metal industry in 2022 due to the existence of major players such as Kenmode precision stamped metal, and Wisconsin metal parts in the region.
Fluctuations in metal prices hinder the growth of the stamped metal market. More supply and less demand for commodities in the global market is causing the fluctuations in the price of metals such as the price of aluminum increased to 1.02 USD/lb in 2018 from 0.82 USD/lb in 2015, and decreased to 0.79 USD/lb in 2019. In 2018, as per a research study, the rise in inflation was mainly because of high oil prices, which can increase the demand for metals, which will indirectly influence the prices of metals. Therefore, fluctuations in metal pricing restrict the market’s growth.