The global sheet metal market, the industry is projected to expand at a healthy CAGR of 5% over the 2021 to 2031 time period, and reach a valuation of over US$ 496 Bn by 2031-end. As of 2021, the market is anticipated to be valued at US$ 292 Bn. The market is expected to expand 1.7x across the 2021-2031 assessment period.
Sheet metals are presently high in demand owing to their increased use in industries like aerospace and automobiles, as well as the medical sector. This growth is demonstrating lucrative avenues for players in the global sheet metal market during the forecast period.
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Prominent Key Players Of The Sheet Metal Market Survey Report:
- Alcoa Corporation
- ArcelorMittal S.A
- Arconic Corporation
- Hindalco Industries Limited
- JFE Steel Corporation
- Nippon Steel & Sumitomo Metal Corporation
- Nucor Corporation
- Tata Steel Ltd.
Key Segments Covered
- Steel Sheet Metal
- Aluminum Sheet Metal
- Titanium Sheet Metal
- Other Sheet Metal Material
- Sheet Metal for Vehicle Bodies
- Sheet Metal for Construction
- Sheet Metal for Electrical Appliances
- Sheet Metal for Fuselage
- Sheet Metal for Storage and Packaging
- Sheet Metal for Other Applications
- End Use
- Sheet Metal for Automotive Sector
- Sheet Metal for Defense
- Sheet Metal for Aerospace Industry
- Sheet Metal for Industrial Tools & Machinery
- Sheet Metal for Building & Construction
- Sheet Metal for Home Appliances
- Sheet Metal for Other End Uses
Key Takeaways from the Market Study
- Steel based sheet metal to create absolute $ opportunity of US$ 107 Bn by 2031
- Aluminum based sheet metal to surge at a CAGR of 5% over the forecast period
- Automotive industry poised to account for over 25% of the revenue share
- Sheet metal for construction applications to account for 55% of the overall revenue
- North America to experience a growth of nearly 5% across the forecast period
- Over half of sheet metal sales to be stimulated by East Asia through 2031
- South Asia to surge at around 5% value CAGR across the forthcoming decade
- Europe to account for nearly 1/4th of the sheet metal industry revenue until 2031
“Mounting emissions concerns is prompting automotive manufacturers to incorporate lightweight construction material for various components, impelling sales of sheet metals of various grades”, says the Fact.MR analyst.
Competition in the global sheet metal market is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold.
- In August 2021, Cornerstone Building Brands, Inc. announced that it has completed the previously announced sale of its Insulated Metal Panels business to Nucor Insulated Panel Group, Inc. and certain of its subsidiaries in a cash transaction for $1 billion.
- In August 2021, ATAS International announced the launch of a new linear ceiling panel, the Opaline metal panel. This flexible panel, in four profiles, can be used as a linear metal ceiling. It can be snapped into a suspension carrier to create a complete system, or mechanically attached to most standard substrates.
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