Market Research Future has published a Half-Cooked Research Report on the Global Sheet Metal Market.
According to the MRFR analysis, Global Sheet Metal Market was valued at more than USD 268.4 Billion in 2018 and is expected to reach over USD 372.65 Billion by the end of 2025 at a CAGR of 4.8%.
Sheet metals 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.
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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’.
By Material Type
Steel: It is projected to be the largest segment of the global COVID 19 Impact on 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.
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.
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By End-Use Industry
Building & Construction: The largest segment accounting for over 52% market share in 2018, owing to the use of sheet metals in applications such as metal roofing products and tools, gutters, metal fascia, metal partitions, handrails, metal buildings, and fountains. Moreover, the increasing demand for HVAC system in the commercial sector for energy conservation is further expected to boost the market growth during the forecast period.
Automotive & Transportation: The automotive & transportation segment held the second-largest share of the global sheet metal market due to the increasing production of automobiles, where the demand for metal sheets is growing at a significant rate in the manufacturing of automobile body frames, nameplates, hydraulic tanks, train doors, and tractor-trailers. The segment is the second-largest consumer of steel, accounting for over 16% of global steel consumption.
Consumer Appliances: Electrical enclosures, washing machines, adapter plates, and electronic frames are some of the major applications where sheet metals find applications.
Energy: The surging demand for green energy has increased the installation of solar and wind farms and other renewable power production sources, which is expected to drive the market for sheet metal during the forecast period.
North America: The regional market growth is driven by the demand for metal sheets in multiple end-use industries, especially aerospace & defense and energy.
Europe: Well-established automotive and packaging industries.
Asia-Pacific: The largest and fastest-growing regional market.
Latin America: Expanding energy and automotive industries.
Middle East & Africa: Increasing investments in the infrastructural sector