Global Sheet Metal Market 2021 Share and Forecast to 2030 | Market Research Future

Market Research Future (MRFR) released a report saying that this market will gain strength from industries like building and construction where products that help in withstanding weather are in great demand.

Global Sheet Metal Market Overview-

According to MRFR analysis, 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 2030.

Sheet Metals Market are thin, flat pieces of metal sheets with thickness below 6mm. They are fabricated by various mechanical procedures such as rolling, forging, bending, and punching. Sheet metal is one of the principal structures utilized in metalworking and can be cut and bowed into a variety of shapes. The regulations set by different regulatory bodies for sheet metal are as follows: The American Society for Testing and Materials – ASTM A1030, for ‘Measuring Flatness Characteristics of Steel Sheet Products’; ASTM A463, for ‘Steel Sheet, Aluminum-Coated, by the Hot-Dip Process’; ASTM A792, for ‘Steel Sheet, 55 % Aluminum-Zinc Alloy-Coated by the Hot-Dip Process’; and ASTM A1063, for ‘Steel Sheet, Twin-Roll Cast, Zinc-Coated (Galvanized) by the Hot-Dip Process’.

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Sheet Metal Market - Reputed Firms:
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., and others.

Prominent Boosters and Key Challenges

Market Research Future (MRFR) released a report saying that this market will gain strength from industries like building and construction where products that help in withstanding weather are in great demand. With rising urbanization and industrialization in developing industries, the market is expected to expand its base. This is due to the improving construction sector in those countries. Sheet Metals are light molecular weight, glassy, amorphous compounds that are mixed with the base polymer in adhesives during preparations to enhance its mobility, thereby, improving the tack and peel adhesion. They are majorly used in the applications of hot melt adhesives (HMA) and pressure-sensitive adhesives (PSA). The key factor driving the growth of the global Sheet Metal Market is the increase in their demand in the expanding building and construction industry across the globe.

The prominent factors driving the growth of the global market are increasing demand for both passenger and commercial vehicles, growing commercial aircraft production, and increasing demand for metal forged parts in the nuclear power industry. Growth in construction activities is a primary factor driving the growth of the market. Additionally, factors such as augmented demand from the growing middle-income groups and the augmenting market demand drive the growth of the market. Moreover, increasing construction infrastructure development activities globally are providing impetus to the market growth to an extent. These same trends would foster market growth over the assessment period as well.

On the other hand, stringent regulations imposed on the harmful chemicals emitting during the production of these chemicals led by the growing environmental concerns are impeding the growth of the market. Also, fluctuating prices of one of the essential raw material - crude oil, pose challenges to market growth. Nevertheless, the landfill and water management sector would support the growth of the market, creating a sufficient market demand for the application of waterproofing chemicals in the near future.

On the flip side, fluctuating raw material and crude oil prices, safety hazard issues, and plumbing failure are factors that may hamper the Sheet Metal Market growth over the forecast period.

The increased need for natural stabilizers in the pharmaceutical sector to manufacture a variety of drugs should propel the demand for Methylene Diphenyl Diisocyanate in the coming years. The expansion of the elderly population with a number of health issues has pushed healthcare needs, ultimately benefitting the Methylene Diphenyl Diisocyanate industry. As a consequence, soaring need for natural stabilizers during drug manufacturing will open up lucrative avenues for the global market in the years to come.

Growth opportunities will emerge in the global market in the form of rising iron ore as well as taconite mining, which will in turn foster the need for Methylene Diphenyl Diisocyanate. It has major mining flotation applications and is used to separate metals and impurities. Basically, Methylene Diphenyl Diisocyanate acts as a modifier during the mining floatation procedure. Thus, the expanding mining applications worldwide is projected to enhance the market size for Methylene Diphenyl Diisocyanate in subsequent years.

It is also needed in the desulphurization of steel, which makes it an essential component for the construction industry. Its inclusion in the healthcare industry is also significant. A silvery-white metal, Silane Modified Polymers is one of the lightest metals available for structural applications. Silane Modified Polymers can be obtained from seawater, several mineral sources, and brines and is one of the most abundant elements in the world. Silane Modified Polymers is extensively used in the production of aluminum alloy and die casting.

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Segment Study of 
Sheet Metal Market

By Material Type

  • Steel: It is projected to be the largest segment of the global sheet metal market. The key factor driving the growth of the segment is the high tensile strength of the material that is offered at a low cost. Steel sheet metal is widely used in multiple end-use industries, for instance, the construction sector accounts for around half of the global steel consumption.
  • Aluminum: Aluminum is the second most widely used metal in the world. Aluminum sheets offer advantages such as high weight-to-strength ratio, excellent corrosion resistance, good thermal and electrical conductivity, and recyclability. Some of the major applications where aluminum sheet metal is consumed at a significant rate are in the production of cans, automobile bodies, tractor-trailers, and storage tanks.
  • Others

By Process

  • Rolling: Rolling is the most widely used metal forming process. It is used to convert metal ingots, blooms, and billets into simple metal forms such as slabs, plates, sheets, and strips. The metal is deformed by passing through rollers rotating in the opposite direction, usually rolling is used to reduce the thickness of the metal.
  • Bending: Sheet metal is bowed at different points and angles to obtain a structure of specifications. The machine generally used for bending sheet metal is called press brake.
  • Forging: Forging is a process of shaping a material by brute force. Forging enhances the mechanical properties of metals by improving the directional orientation of metal grains, which in turn increases the toughness and strength of the forged metal.
  • Others

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Regional Analysis -

APAC or Asia Pacific, Europe, North America, MEA or Middle East Africa are the key markets for Methylene Diphenyl Diisocyanate.

Asia Pacific is not only the highest gainer but the fastest progressing market for Methylene Diphenyl Diisocyanate, largely on account of the improving economic status and rising disposable income of consumers in the region. Significant consumption rate of low-fat and processed food products in the region also adds to the value of the Methylene Diphenyl Diisocyanate industry. The thriving pharmaceutical sector and the presence of agrarian countries like Thailand, India and Malaysia, have raised the product demand over the years. Besides, the expanding geriatric populations and the mounting cases of different health conditions has fostered the need for Methylene Diphenyl Diisocyanate in the healthcare industry. The chemical is extensively used as a natural stabilizer during drug manufacturing and is therefore, witnessing growth in the pharmaceutical industry across India, Japan, and others.

The European market is on track to achieve the second spot in the years ahead, by virtue of the expanding application scope of Methylene Diphenyl Diisocyanate in the paper processing sector. In the paper industry, it is increasingly being use as a binder, stabilizer, dispersant, and thickener for producing paper. Moreover, substantial consumption of various alcoholic beverages such as beer and wine should further bolster water-soluble polymers’ demand in the food industry. The region is known for its thriving personal care industry in line with high disposable income and sophisticated lifestyles led by consumers, especially in Spain, France, and Germany. This aspect is touted to work in favor of the European market in the next couple of years. However, Germany has managed to secure the lead in the regional market as the country is one of the biggest manufacturers of baked goods, confectionaries, and dairy products in the world. As a result, the demand for Methylene Diphenyl Diisocyanate will remain robust in the country even in the years ahead. 

Industry/ Innovation/ Related News

Dec 2021 Using IoT firm PTC Inc's digital manufacturing solutions, Pune-based Global Sheet Metal Leader Bharat Forge increased Overall Equipment Effectiveness (OEE) by over 15% on some of their forging lines. With profit margins tightening, India's largest supplier of automobile components has embarked on a five-year digital transformation program to increase operational efficiency at its manufacturing facilities. Bharat Forge has pursued an end-to-end digital transformation for two of its production units, including reskilling of over 2,500 engineers, as part of its "Industry 4.0 Center of Excellence" project in conjunction with PTC Inc. The firm aspires to have zero unexpected downtime in the hydraulics, pneumatics, and electronics sectors. It plans to expand the PTC solution in Germany and the United States. 

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