What is the current market size and future outlook for the metal products market?
The metal products market size has grown strongly in recent years. It will grow from $2946.26 billion in 2024 to $3133.37 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. 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 $3815.28 billion in 2029 at a compound annual growth rate (CAGR) of 5.0%. 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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How has the metal products market evolved, and what factors have shaped its 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.
What are the major segments of the metal products market?
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, Others
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
Subsegments:
1) By Forged And Stamped Goods: Forged Components, Stamped Parts, Cold Formed Parts, Hot Forged Parts
2) By Cutlery And Hand Tools: Kitchen Cutlery, Hand Tools, Garden Tools, Professional Tools
3) By Architectural And Structural Metals: Steel Beams And Columns, Metal Decking, Roofing And Siding Panels, Metal Framing Systems
4) By Boiler, Tank, And Shipping Container: Pressure Vessels, Storage Tanks, Shipping Containers, Boiler Components
5) By Hardware: Fasteners, Door And Window Hardware, Furniture Hardware, Builders’ Hardware
6) By Spring And Wire Products: Compression Springs, Extension Springs, Wire Forms, Specialty Springs
7) By Machine Shops: Precision Machined Components, Custom Machining Services, CNC Machined Parts, Tooling And Fixture Manufacturing
8) By Turned Products: Turned Metal Parts, CNC Turned Components, Precision Turned Parts
9) By Screw, Nut, And Bolt: Standard Fasteners, Specialty Fasteners, Custom Fastener Manufacturing
10) By Others: Powder Coated Products, Anodized Metal Parts, Engraved Components, Heat-Treated Steel Parts, Gate Valves, Ball Valves, Check Valves, Control Valves, Metal Fabrications, Assemblies And Subassemblies, Specialty Metal Products
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Which companies dominate the metal products market?
Major companies operating in the metal products market include 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, Baoshan Iron & Steel Co. Ltd, Baowu steel, 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 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
How will evolving trends contribute to the growth of the metal products market?
Many metal products companies are using robotics and automation to improve plant efficiency and productivity. Robotics refers to the interdisciplinary field of technology and engineering that deals with the design, construction, operation, and use of robots, and automation refers to the use of technology to reduce human intervention in processes by predetermining decision criteria, subprocess relationships, and related actions, as well as embodying those predeterminations in machines. Automation ensures consistent quality in metal products. Robots can weld, cut, and fabricate metal with exceptional accuracy, reducing defects and rework. This leads to higher-quality metal products that meet or exceed industry standards. For instance, in September 2023, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, latest World Robotics report shows that 553,052 industrial robots were installed globally in 2022, reflecting a 5% year-on-year growth. Of these, 73% were deployed in Asia, 15% in Europe, and 10% in the Americas. Examples of companies offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman.
What are the key regional dynamics of the metal products market, and which region leads in market share?
The countries covered in the metal products market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Does The Metal Products Market Report 2025 Offer?
The metal products market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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