Global Metal Products Market Size 2024, Forecast To 2033
11 Mar, 2024
The metal products market has witnessed strong growth, increasing from $2749.3 billion in 2023 to $2912.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The historic period's growth is attributed to strong economic growth in emerging markets, rapid growth in the automotive industry, rapid technological advances, and the expansion of the steel sector. Moving forward to 2028, the market is expected to maintain strong growth, reaching $3594.55 billion at a CAGR of 5.4%. Projected growth drivers in the forecast period include improvements in plant efficiency, increasing usage of aluminum as a lightweight and cheaper substitute, metal consumption by the aerospace sector, and investment in infrastructure. Key trends in the forecast period involve focusing on the launch of net-zero carbon products, the launch of metal additive manufacturing products, the adoption of robotics and automation, the use of the Internet of Things (IoT), the adoption of new welding technologies, and the use of recycled metals.
Global Metal Products Market Key Driver
The metal products market has experienced positive growth due to the rapid expansion of the automotive industry in the historical period. The automotive sector encompasses a wide range of activities, including the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. The increased demand for various metal products, including sheet metal, steel, aluminum, and specialty alloys, is driven by the growth of the automotive industry. These metals play a crucial role in vehicle manufacturing, contributing to the production of body parts, chassis components, and engine parts. For example, in January 2023, according to a report from MarkLines Co, sales of light vehicles in the United States reached 1,287,280 units in December 2022, reflecting a 5.4% increase compared to the same month in 2021. Sales of trucks and SUVs rose by 5.3% to 1,020,952 units, while sales of passenger cars increased by 5.7% to 266,328 units. Consequently, the heightened demand for automobiles during this period positively influenced the metal products manufacturing market. The market size for metal products manufacturing is expected to align with this automotive-driven growth in 2023 and is projected to continue expanding in 2024 and 2028.
Get A Free Sample Of The Global Metal Products Market ReportGlobal Metal Products Market Segments
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, Coated, Engraved, Heat-Treated Metal Products, Metal Valves, Other Fabricated Metal Products
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
Sub segments: Iron And Steel Forged Goods, Nonferrous Forged Goods, Custom Roll Formed Goods, Powder Metallurgy Parts, Metal Crown, Closure, Other Metal Stamped Goods, Metal Kitchen Cookware, Utensil, Cutlery, Flatware, Saw Blade, Hand Tool, Plate Work And Fabricated Structural Products, Ornamental, Architectural Metal Products, Power Boiler And Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, Other Metal Container (Light Gauge), Hardware, Motor Vehicle Hardware, Builder's Hardware, Other Hardware, Springs, Other Fabricated Wire Products, Machine Shops, Turned Product And Screw, Nut, Bolts, Heat Treated Metal Products, Coated, Engraved Metal Products And Allied Services To Manufacturers, Electroplated, Plated, Polished, Anodized, Colored Metal Products, Industrial Valves, Fluid Power Valve And Hose Fitting, Plumbing Fixture Fitting And Trim, Other Metal Valve, Pipe Fitting, Ball And Roller Bearing, Fabricated Pipe And Pipe Fitting, All Other Miscellaneous Fabricated Metal Products
By Geography:The regions 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
The Asia-Pacific was the largest region in the metal products market in 2023. Western Europe was the second-largest region in the metal products market. The regions covered in the metal products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Metal Products Industry Players
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, Ball Corporation, Baoshan Iron & Steel Co. Ltd, Baowu steel, Bekaert SA, 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, 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, Ternium S.A. United States Steel Corporation, The Heico Companies, ThyssenKrupp, Thyssenkrupp AG, Timken, TMK (Pipe Metallurgical Co., OJSC), Toyo Seikan Group Holdings, Ltd, United states steel corp
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Metal Products Market Overview
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.
Metal Products Global Market Report 2023 provides data on the global metal products market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The metal products market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.