Latest News- Sheet Metal Market: Building and construction is expected to lead the End-user segment during 2025-2029

The Sheet Metal Market is being driven by Growth in machine tools industry

The Sheet Metal Market is expected to grow at a CAGR of 4.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 101 billion. The sheet metal market is witnessing a significant shift towards the implementation of 3D (three-dimensional) technologies for production. These advanced technologies, including Computer-Aided Design (CAD) and Computer-Aided Manufacturing (CAM), as well as 3D printing, enable manufacturers to create intricate designs and shapes with improved accuracy and productivity. By utilizing 3D technologies, sheet metal fabricators can simulate the production process, detect potential issues, and implement corrections prior to actual manufacturing. This streamlined approach not only reduces production time and costs but also enhances product quality. The adoption of 3D technologies, particularly in the manufacturing of medical equipment and holograms, is experiencing continuous growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Building and construction
  • Automotive
  • Machinery
  • Others
• Material
  • Steel
  • Aluminum
  • Others
• Type
  • Bend sheet
  • Cut sheet
  • Punch sheet
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in machine tools industry
• Growth in manufacturing sector
• Increasing construction activities in developing regions

However, the market also witnesses some limitations, which are as follows:

• Fluctuating cost of raw materials
• Threat of substitutes from construction and packaging industries
• Stringent environmental regulations and standards related to mining

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Market Scope in Sheet Metal Market Research Report

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Research Analysis Overview

The Sheet Metal Market is experiencing growth due to the increasing demand for sustainable construction materials and lightweight components in premium markets. New grades of high-quality metals, including tin, nickel, copper, steel, aluminum, brass, and alloys of these, are being developed for infrastructure development. Entrepreneurs are leveraging advanced technologies, such as stamping tools, molds, and dies, to manufacture large equipment and components for various industries, including automotive and pipe. Competition is fierce, driving research and development and innovation in product portfolios. Market analysis reveals key strategies for increasing market shares, such as investment in presses and business models focused on customization and efficiency.

Market Research Overview

The Sheet Metal Market is a significant segment of the global metals and mining industry, focusing on the production of lightweight and sustainable materials for infrastructure development. Key market players, such as Desktop Metal, Inc., and Figur G15, are expanding their product portfolios to cater to the increasing competition. The market's growth is primarily driven by the surging demand for steel, particularly in the construction sector, due to infrastructure development initiatives. Technavio's research indicates that the global steel market's size is determined by the consolidated revenue generated by iron and steel producers, metallurgical coal mining companies, and diversified metals and mining entities. Factors fueling market expansion include the construction industry's recovery and the growing preference for lightweight, eco-friendly materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/