Global Sheet Metal Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
17 Jul, 2023
The global sheet metal market size is expected to grow from $296.41 billion in 2022 to $314.13 billion in 2023 at a compound annual growth rate (CAGR) of 5.98%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global sheet metal market size is expected to reach $386.87 billion in 2027 at a CAGR of 5.35%.
Global Sheet Metal Market Key Driver
The ongoing expansion of the construction sector is likely to drive future growth in the sheet metal market. Sheet metal is a thin, lightweight, high-strength flat sheet made of highly conductive elements such as iron, copper, brass, nickel-iron alloys, and others, and produced using procedures such as cutting, shaping, drawing, shearing, and others. The construction industry is developing as a result of factors such as population growth, urbanisation, low construction interest rates, and others. Sheet metal is widely used in the construction sector due to its features such as low weight-to-thickness ratio, strength, and durability. These reasons drive the sheet metal market.
Get a sample of the global sheet metal market reportGlobal Sheet Metal Market Segments
The global sheet metal market is segmented:
1) By Material: Steel, Aluminum, Titanium, Other Materials
2) By Process: Rolling, Forging, Bending, Other Process
3) By End User: Automotive, Defense, Aerospace, Industrial Tool And Machinery, Buildings And Construction, Home Appliances, Consumer Goods, Other End Users
4) By Geography: The regions covered in the sheet metal market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global sheet metal market.
Major Sheet Metal Industry Players
Arconic Corporation, Alcoa Corporation, Baosteel Group Corporation, JFE Holdings Inc., Nippon Steel Corporation, POSCO Holdings Inc., United States Steel Corporation, ArcelorMittal S.A., Constellium SE, General Sheet Metal Works Inc., Hindalco Industries Limited, Kaiser Aluminum Corporation, Nucor Corporation, Tata BlueScope Steel Pvt. Ltd., Tata Steel Limited
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Sheet Metal Market Overview
Sheet metal refers to a thin, lightweight, high-strength, flat sheet made up of highly conducting materials such as iron, copper, brass, nickel-iron alloys, and others and using techniques such as cutting, shaping, drawing, shearing, and others by using tools such as shears, laser cutters, and stamping presses. It is finished with coatings such as paint, powder coating, or anodizing to improve durability and aesthetics.
Sheet Metal Global Market Report 2023 provides data on the global sheet metal market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The sheet metal market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.