Sheet Metal Global Market Report 2023
Major players in the sheet metal market are Arconic Corporation, Alcoa Corporation, Baosteel Group Corporation, JFE Holdings Inc., Nippon Steel Corporation, POSCO Holdings Inc., United States Steel Corporation, ArcelorMittal S.
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sheet Metal Global Market Report 2023" - https://www.reportlinker.com/p06479888/?utm_source=GNW A., Constellium SE, General Sheet Metal Works Inc., Hindalco Industries Limited, Kaiser Aluminum Corporation, Nucor Corporation, Tata BlueScope Steel Pvt. Ltd., and Tata Steel Limited.The global sheet metal market 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 market is expected to reach $386.87 billion in 2027 at a CAGR of 5.35%.Asia-Pacific was the largest region in the sheet metal market in 2022. The regions covered in the sheet metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The sheet metal market consists of sales of iron, copper, brass, nickel-iron alloys, and tin.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.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.The main types of materials in sheet metal are steel, aluminum, titanium, and others, with various types of processes including rolling, forging, bending, and others.Steel refers to a unit of extremely strong metal, such as steel, that has been shaped into a relatively flat panel or sheet from an iron and tin alloy.These are used by various end-users, such as automotive, defense, aerospace, industrial tools and machinery, buildings and construction, home appliances, consumer goods, and others.The continuous expansion of the construction sector is expected to propel the growth of the sheet metal market going forward.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.The construction sector is increasing because of the growing population, urbanization, low-interest rates on construction, and others.The construction sector is widely using sheet metal as a construction material because of its benefits, such as a low weight-to-thickness ratio, strength, and durability, These factors boost the sheet metal market.For instance, in May 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, construction spending increased from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023, a 3.8 percent increase in construction spending. Therefore, the continuous expansion of the construction sector is driving the growth of the sheet metal market.Technology advancements are the key trends gaining popularity in the sheet metal market.Major companies operating in the sheet metal market are adopting innovative technologies to sustain their position in the market.For instance, in September 2022, Desktop Metal Inc., a US-based technology company that designs and markets 3D printing systems, launched Figur G15, a new digital sheet forming (DSF) technology. This innovative technology allows standard metal sheets to be formed into parts using a software-controlled ceramic tool head mounted on a gantry. Additionally, a variety of metals and sheet thicknesses, such as steel up to 2.0 mm thick and aluminum up to 2.5 mm thick, can be processed.In April 2020, Novelis Inc., a US-based industrial aluminum company that produces rolled aluminum and recycles aluminum, acquired Aleris Corporation for $2.8 billion. Through this acquisition, Novelis Inc. aimed to expand the company’s innovative product portfolio by building a more talented and varied workforce and deepening its commitment to safety, sustainability, quality, and collaboration. Aleris Corporation is a US-based manufacturing company that produces aluminum-rolled metal sheets.The countries covered in the sheet metal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The sheet metal market research report is one of a series of new reports that provides sheet metal market statistics, including sheet metal industry global market size, regional shares, competitors with a sheet metal market share, detailed sheet metal market segments, market trends and opportunities, and any further data you may need to thrive in the sheet metal industry. This sheet metal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479888/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________