Overview and Scope
Metal products refer to a type of product that has properties including a high melting point, high density and tensile strength, high light reflectivity, malleability, and ductility, as well as strong electrical and thermal conductivity, and is generally formed by processes including turning, drilling, milling, shaping, planning, broaching, and sawing.
Sizing and Forecast
The metal products market size has grown strongly in recent years. It will grow from $2749.3 billion in 2023 to $2912.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rapid growth in the automotive industry, rapid technological advances and expansion of the steel sector.
The metal products market size is expected to see strong growth in the next few years. It will grow to $3594.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to the improvements in plant efficiency, increasing usage of aluminum as a lightweight and cheaper substitute, metal consumption by the aerospace sector and investment in infrastructure. Major trends in the forecast period include focusing on the launch of net zero carbon products, launch of metal additive manufacturing product, adoption of robotics and automation, use of the internet of things (iot), adoption of new welding technologies and use of recycled metals..
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Segmentation & Regional Insights
The metal products market covered in this report is segmented –
1) By Type: Forged and Stamped Goods, Cutlery and Hand Tools, Architectural And Structural Metals, Boiler, Tank, And Shipping Container, Hardware, Spring And Wire Products, Machine Shops, Turned Product, Screw, Nut And Bolt, Coated, Engraved, Heat-Treated Metal Products, Metal Valves, Other Fabricated Metal Products
2) By Metal Type: Iron Ore, Copper, Other Metal Types, Zinc, Nickel, Gold Ore, Lead, Silver Ore
3) By End User: Construction, Manufacturing, Other End Users
Sub segments: Iron And Steel Forged Goods, Nonferrous Forged Goods, Custom Roll Formed Goods, Powder Metallurgy Parts, Metal Crown, Closure, Other Metal Stamped Goods, Metal Kitchen Cookware, Utensil, Cutlery, Flatware, Saw Blade, Hand Tool, Plate Work And Fabricated Structural Products, Ornamental, Architectural Metal Products, Power Boiler And Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, Other Metal Container (Light Gauge), Hardware, Motor Vehicle Hardware, Builder’s Hardware, Other Hardware, Springs, Other Fabricated Wire Products, Machine Shops, Turned Product And Screw, Nut, Bolts, Heat Treated Metal Products, Coated, Engraved Metal Products And Allied Services To Manufacturers, Electroplated, Plated, Polished, Anodized, Colored Metal Products, Industrial Valves, Fluid Power Valve And Hose Fitting, Plumbing Fixture Fitting And Trim, Other Metal Valve, Pipe Fitting, Ball And Roller Bearing, Fabricated Pipe And Pipe Fitting, All Other Miscellaneous Fabricated Metal Products
The Asia-Pacific was the largest region in the metal products market in 2023. Western Europe was the second-largest region in the metal products market. The regions covered in the metal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The metal products market has benefitted from the rapid growth in the automotive industry during the historic period. The automotive industry refers to a broad sector that involves the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. As the automotive industry expands, there is a higher demand for various metal products, including sheet metal, steel, aluminum, and specialty alloys. These metals are used in the manufacturing of vehicles, including body parts, chassis components, and engine parts. For instance, in January 2023, according to a report published by MarkLines Co, a Japan-based automotive information platform, sales of light vehicles in the United States reached 1,287,280 units in December 2022, an increase of 5.4% over the same month in 2021. In comparison to the previous December, sales of trucks and SUVs climbed by 5.3% to 1,020,952 units, while sales of passenger cars increased by 5.7% to 266,328 units. Therefore, the rise in demand for automobiles during this period positively impacted the metal products manufacturing market.
Key Industry Players
Major companies operating in the metal products market report are Stanley Black & Decker, Inc, Ball Corporation, Techtronic Industries Co. Ltd., Illinois Tool Works Inc, Schaeffler Technologies AG & Co KG, Ajmal Steel Tubes & Pipes Industries LLC, AK Steel Holding, Akar Tools Ltd, Al Jarsh Metal Section Manufacturing, AL Khaleej Metal Coat LLC, AL Shafar Steel Engineering, Alam Steel, Alcoa Corp, Algoma Steel Inc, Aperam, Apex Tools Group, ArcelorMittal, ArcelorMittal Brasil S.A, Assa Abloy AB, Avocet Steel, Ball Corporation, Baoshan Iron & Steel Co. Ltd, Baowu steel, Bekaert SA, Bekaert SA, Berkshire Hathaway Inc., Bosco Group of Companies, Cape Town Iron and Steel Works, Channellock, Inc, China International Marine Containers (Group) Ltd., Colfax, Companhia Siderúrgica Nacional, Consolidated Steel Industries Ltd, Continental steel, Contitech Chile S.A, DBMSC Steel FZCO, Denholm YAM, Dofasco, Dynamic structures, Evraz, Fenster Aluminum Ltd, Flowserve, Freeport McMoranInc, Gerdau, Gibraltar Industries, Gutmann Industries LLC, Hulamin Ltd, Hyundai Steel Company, Inesa Argentina, Integrated metal products, JFE Steel Corporation, JM Enterprises, Kennametal Inc, Kobe Steel Limite, Leita Steel Ltd, Maanshan Iron and Steel Company Limited, Magnitogorsk Iron and Steel Works (MMK), Mechel, Melcast Iron and Steel Foundry, Metalloinvest, Metatrade Import and Export (Pty) Ltd, Moolaan Iron & Steel, Mueller Industries, Nanjing Hengjie Industrial Co., Ltd, Ningbo BST Metal Products Co., Ltd, Nippon Steel, Novolipetsk Steel (NLMK), Nucor, Nucor Corporation, Parana Metal, POSCO, Pramec SAS, Pretoria Schmiede Cc, Qatar Steel Company, S A Iron & Steel Institute (SAISI), Schaeffler, Severstal, Shanghai Electric Group Co Ltd, Sicamar Metals Mitsui and Co, Siderca, SKF Argentina S.A, Snap-on, Sovereign Steel Manufacturing, Summit Utility Structures LLC, Suzuki Garphyttan Ab, SWR Group, Tata Steel Limited, Ternium S.A. United States Steel Corporation, The Heico Companies, ThyssenKrupp, Thyssenkrupp AG, Timken, TMK (Pipe Metallurgical Co., OJSC), Toyo Seikan Group Holdings, Ltd, United states steel corp
The metal products market report table of contents includes:
1. Executive Summary
2. Metal Products Market Characteristics
3. Metal Products Product/Service Analysis -Product/Service Examples
4. Metal Products Market Trends And Strategies
5. Metal Products Market – Macro Economic Scenario
…
68. Global Metal Products Market Competitive Benchmarking
69. Global Metal Products Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Metal Products Market
71.Metal Products Market Future Outlook and Potential Analysis
72. Appendix
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