Sheet Metal Market Analysis :
Sheet metal is produced through processing of steel into flat and thin pieces. It can be cut, stamped, punched, and bent in multiple shapes. Tin, copper, steel, and titanium are the key components in the sheet metal industry. Sheet metal is one of the most versatile and eco-friendly material, which doesn’t even require much maintenance during its production. Thickness of this metal varies according to the usage, for example, ultra-thin sheets can be used as a foil (aluminum foil) and thicker sheets can be recognized as plate steel and structural sheets. The rise in demand for the product in aerospace, construction, telecommunications, and manufacturing industries leads to growth of the market at a faster pace. China could be seen as the largest consumer of sheet metals.
COVID-19 scenario analysis:
- The global steel market started to witness downtrends; Indian companies are expected to be in pressurized situations regarding prices.
- It has brought several changes in market conditions from financial as well as production and manufacturing point view.
- Demand for almost every product is declining these days due to decrease in disposable income of the people, owing to lockdown in every part of the economy.
- Production processes of such product are at halt due to lack of supply of raw materials as well as restrictions on such work to be done at this time as only industries, which are open to work for are FMCGs (to provide essentials to the worldwide population)
- However, even if the industries continue their operations, but delay in raw materials supplies left those industries with no choice but to reduce utilization rate.
- Supply chains have been hampered, which in turn, led to lack of supply of raw material. There is growing inability in production and manufacturing processes.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rapid increase in demand for sheet metal in the aerospace industry, defense industry, and CNC machine tool industry is likely to increase the demand for sheet metals. Highest contributor is the steel sheet metal segment in terms of revenue due to its ample availability, performance, and increased adoption in the industrial sector. Rise in disposable income has led to increased demand for the automobile sector, which in turn, is expected increase the demand for the sheet metal industry.
Analyzed regions include North America (the U.S. and Canada), Europe (Germany, the UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East & Africa. North America is the most contributing economy in the sheet metal market. In the Asia-Pacific region, significant growth has been witnessed in last few years due to high demand in the automotive sector.
Market participants include General Sheet Metal Works Inc., ABC Sheet Metal, Bluescope Steel Limited, Bud Industries, Associated Materials LLC, NCI Building Systems, Nippon Steel And Sumitomo Metal, Sanyo Special Steel Company Ltd., Essar Steel Ltd., Classic Sheet Metal Inc., Iron Form Corporation, Marlin Steel Wire Forms LLC, Standard Iron &Wire Works Inc. Metcam, and BTD Manufacturing Inc.
Key benefits of the report:
- This study presents the analytical depiction of the global sheet metal market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global sheet metal market share.
- The current market is quantitatively analyzed to highlight the global sheet metal market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the sheet metal market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Sheet Metal Market Report Highlights
By Industry Vertical
Key Market Players
Ciner Resources Corporation, FMC Corporation, Genesis Energy LP, Oriental Chemical Industries, Tata Chemicals Ltd, Nirma Limited, DCW Limited, OCI Company, Solvay Chemicals, GHCL Ltd.