SAN JOSE, Calif., March 27, 2012 — With metal substrates being omnipresent in the world of mechanical engineering, metal stamping, forgings and castings, find widespread applications in diverse industries across the globe. A critical industrial process indispensable with all types of production activity, metal stamping as a manufacturing service is heavily dependent on the industrial/manufacturing sector. Most of forging plants are small and medium-sized companies constituting custom forged and independent part producers, government research laboratories, military arsenals and OEMs.
Worldwide demand for metal stamping fluctuates with fortunes of global automotive industry, considered one of the largest end-use markets. The art or process of metal stamping to form several identical parts evolved in conjunction with the automotive industry, and continued sustainability and demand ensures the leadership position of the metal stampings segment in the overall market. An average automobile features nearly 300 stamped sheet metal parts, in the form of presses and dies, and cost-wise, represents more than 50 percent of re-tooling a plant. The automotive stampings industry is characterized by cyclical nature of the demand, technological innovations for quality enhancements, pricing pressures, and continued reduction in lead-time and manufacturing costs. Nonferrous casting alloys, particularly magnesium and aluminum, are looking at strong growth potential, as vehicle manufacturers are opting for lighter metals to produce fuel-efficient vehicles. As a result, iron content in auto manufacturing decreased considerably. Pricing volatility of metals and alloys such as steel, chromium, molybdenum, nickel and tungsten compelled the use of coated-steels and alloys for stamping operations.
Metal casting and forging industry has been undergoing transition in technology over the recent past, with developments primarily focused on die, material designing/modeling, lubrication, optimization software, sensors/process controls and preventative maintenance among others. New casting technologies, to a great extent, have reduced costs and widened markets. As every automobile has a high proportion of cast parts, casting suppliers are developing new technologies, products, and business models to meet the demand for cheaper and smaller vehicles that comply with environmental standards and prices demanded by developing nations. For example, to reduce weight, decrease emissions and improve fuel economy, metal casters are designing sophisticated and lighter parts from new alloys of steel, zinc, aluminum and magnesium. Novel applications for cast parts are also emerging in the form of crash-resistant structural components made through casting for weight reduction.
Automobile manufacturers operating in the United States and Europe are increasingly outsourcing their stamping operations to reduce the workload and to address the growing cost pressures. Moreover, proliferation of niche models, which resulted in the increase of stamped parts, is also fueling the trend towards outsourcing. For instance, outsourcing of stampings in Europe is witnessing a strong annual growth rate, while this is slightly lower in North America. Manufacturers having strong infrastructure for manufacture of stampings and other small structural parts are outsourcing management responsibility to allow their in-house production to concentrate on higher volumes.
The European castings and forgings market draws primarily from engineering and construction segments and prevailing favorable conditions in these two largest segments in the EU are expected to accelerate demand for castings and forgings in the coming years. Europe buoyed by demand and technology advancements, represents a significant regional market in terms of size and accounts for the largest slice of the worldwide market. On the other hand, the BRIC nations led by China, garners a significant share in the production of metal castings globally. In recent years, China has emerged as one of the leading producers of metal castings worldwide, competing with traditional heavyweights like the United States. In this purview, demand for castings and forging is forecast to increase at an accelerated pace in Asia-Pacific, led by vibrant markets of China, India and Taiwan. The Asian market is forecast to race ahead at a CAGR of 5.3 percent over the analysis period.
Major players profiled in the marketplace include Alcoa Inc., American Axle & Manufacturing Holdings Inc., Amtek Engineering Ltd., Anchor Lamina Inc., Bharat Forge Limited, Doncasters PLC, Georg Fischer Ltd., Hayes Lemmerz International Inc., Magna International Inc., Meridian Technologies Inc., Metaldyne Corp., Precision Castparts Corp., Wyman-Gordon, SeAH Besteel Corp., Shiloh Industries Inc., Sumitomo Metal Industries Ltd., ThyssenKrupp AG, Tower Automotive Inc., Voestalpine AG and Worthington Industries Inc.
The research report titled "Metal Stampings, Forgings, and Castings: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activity. The report provides market estimates and projections (U.S.$ Million) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia and rest of Europe), Asia-Pacific, Latin America and Rest of World. Product segments independently analyzed include metal stampings, metal forgings (iron & steel forgings and non-ferrous forgings), ferro-alloy castings (gray iron castings, ductile iron castings, malleable iron castings, carbon steel castings, high alloy steel castings, and other alloy steel castings), and non-ferrous metal castings (aluminum castings, copper castings, lead castings, magnesium castings, zinc castings, and miscellaneous castings).
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