The global forged and stamped goods market was valued nearly at $255 billion in 2018. Asia-Pacific was the largest market for forged and stamped goods, accounting for around 43% of the global market. China is the largest country in terms of value in the forged and stamped goods market.
The forged and stamped goods market consists of sales of forged and stamped metal goods by entities (organizations, sole traders and partnerships) primarily engaged in manufacturing forgings from purchased metals; manufacturing metal custom roll forming products; manufacturing metal custom roll forming products; manufacturing metal stamped and spun products (except automotive, cans, coins); and manufacturing powder metallurgy products.
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Forged And Stamped Goods Market Size
The global forged and stamped goods market size is expected to grow at a growth rate of about 10% by 2022. Growth in the historic period resulted from high demand from the automobile manufacturing industries and economic growth in emerging economies. Factors that negatively affected growth in the historic period were volatile metal prices and unsteady demand from the machinery manufacturing industries.
The market for forged and stamped goods is related fragmented with small numbers of large entities which command significant market share and a large number of small entities. Players in the market include Thyssenkrupp AG, Arcelor Mittal, American Axle & Manufacturing Holdings, Allegheny Technologies Incorporated (ATI) and Precision Castparts.
Thyssenkrupp AG was the largest company in the forged and stamped goods market in 2018. It operates in component technology, elevator technology, industrial solutions and material services to offer products and services in different industries such as the automotive and construction industries. The company was established in 1811 and is headquartered in Essen, Germany.
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Forged and stamped goods manufacturers are using digital thermomechanical processing (TMP) to prevent metal-flow defects and for material-use optimization. TMP combines mechanical or plastic deformation processes such as forging and rolling with thermal processes such as hot working, cold working, and other types of thermal and heat treating techniques into a single process. Digital design modelling reduces scrap by 50%, eliminates potential defects and allows the forging products to be produced on a smaller press. This enables comprehensive analyses of microstructure evolution, failure prediction and heat-treatment modelling. Other benefits of TMP include improved data storage and increased data processing speeds. Companies such as Aloca are using digital thermomechanical process (TMP) for production of forged and stamped goods.
Unsteady Demand For Machinery Manufacturing – Unsteady demand from the industry`s major downstream markets, including agricultural machinery manufacturing and mining machinery manufacturing, limited the growth in the revenues of the manufacturers of forged and stamped goods. The sales numbers in terms of value for agriculture, construction, and mining machinery manufacturing showed a 4% decrease during 2015-2016, followed by the stabilization of the market in 2017 , leading to the limited growth in the revenues generated by the forged and stamped goods market in the same period. The instability in demand for agricultural and mining machinery manufacturing restrained the growth of the forged and stamped goods market.
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