Metal fabrication is a critical component of many industries these days, and a major element in the metal fabrication process is metal stamping. Given the importance of metal fabrication and metal stamping, it’s worthwhile to take a look at the state of the industry and what’s expected of it in the future.
Growth of metal stamping
By the year 2025, industry experts anticipate that metal stamping as an industry will soar to become a $300 billion business. If that seems hard to believe, consider some of the many ways in which metal stamping is currently used. Metal prices are subject to frequent periodic fluctuation, and in recent years the price has slipped, which has made it more convenient and more affordable for industries to expand their usage of metal stamping.
In addition, the industry as a whole has become much more competitive, with many more metal fabricating companies recognizing the benefits that metal stamping can provide for servicing their clients. Metal stamping has broad applications in all those industries which make use of sheet metal, for instance the automotive industry, the industrial machinery industry, and in consumer electronics as well. Because of its increasing usage in multiple industries, metal stamping has become much more popular than it previously was.
Another factor driving the growth of metal stamping is a significant rise in the number of metal fabricating companies in Asian markets. A number of these companies are investing heavily into research surrounding the most efficient methods for metal stamping, and how it can be applied in their own operations. There is also a significant upward trend in many related businesses which require metal stamping, for instance bending, flanging, laser embossing, blanking, coining, lightweight automobile body parts, and lightweight consumer electronics.
Industries where metal stamping is required
Another of the factors driving the growth of metal stamping is the fact that it has universal application in so many different industries. Because these industries are flourishing, a demand has been created for metal stamping and will continue for the foreseeable future, with decades of growth anticipated.
Metal stamping is very prominently featured in the automotive and aerospace industries, as well as in consumer electronics and other electronic devices. Virtually all industrial machinery requires metal stamping, as do devices used for telecommunications. With the demand for products from these industries soaring, the need for metal stamping will escalate right along with them.
Does your company require metal stamping?
There are many companies which require metal stamping that may not seem to need this type of service at first glance. However, even small parts which are required in virtually all industries require metal stamping services. This also contributes to its popularity and to its anticipated future growth. Needless to say, the future is very bright for metal stamping, and for all those who are part of the industry.
Velocity Metalworks is recognized as a valued partner in the metal stamping industry for our strong Tool Design and Build competency. This, combined with our metal stamping capacity, precision machining services, and EDM capability make us a full service provider that can deliver value in your tooling and stamping needs. Contact us today to see how we can help you work even better.