Metal Products Market Size and Forecast 2024-2033|Stanley Black & Decker, Inc., Ball Corporation, Techtronic Industries Co. Ltd., Illinois Tool Works Inc., Schaeffler Technologies AG & Co KG

A look through the ends of a group of pipes.

The Metal Products by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Metal Products, 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.

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.

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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

Major companies operating in the metal products market are developing new products such as wire-laser metal 3D printers to meet larger customer bases, more sales, and increase revenue. A wire-laser metal 3D printer is a type of 3D printer that uses a wire feedstock and a laser to create metal parts. For instance, in February 2022, Mitsubishi Electric Corporation, a Japan-based electronics company, launched AZ600, a wire-laser metal 3D printer that uses a laser beam to melt welding wire to produce excellent 3D structures. Digital additive manufacturing technology’s simultaneous 5-axis spatial control and coordinated management of machining parameters enable stable, high-quality 3D printing. Additionally, it supports the development of repairs for the maintenance of specialized parts for automobiles, ships, and aircraft by lowering energy consumption, conserving resources by speeding up processing, and using highly effective manufacturing methods such as “near-net-shape,” and more.

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

26. Germany Metal Products Market

27. France Metal Products Market

28. Italy Metal Products Market

29. Spain Metal Products Market

30. Austria Metal Products Market

Top Major Players: