Metal stamping is a critical part of many industries including consumer electronics, electrical, industrial machinery, telecommunications, agriculture, food processing, aerospace, and automotive. Importantly, the future of metal stamping in the automotive industry–as well as each of the others–appears to be particularly good.
The Role of Metal Stamping
Metal stamping, often appropriately called precision metal stamping, is the process where sheet metal in the form of blanks, strips or coils is used on a stamping press and fed through a die to form a precision shape. The stamping press operation uses several processes to render quality finished products such as blanking, punching, embossing, coining, forming, and flanging.
Precision metal stamping is used to produce products for many companies because production is exacting, cost-effective, and can be done quickly and repetitively. Products are produced that are in common use every day such as appliance parts, automotive components, firearms, lighting, medical equipment, plumbing, and hardware, to name a few.
The Metal Stamping Market
The future of metal stamping is bright, expected globally to exceed nearly $303.67 billion by 2026, according to research by Acumen Research and Consulting, with a compound growth rate of over 4.3 percent. This growth is driven first, by the increasing use of sheet metal in many industries such as consumer electronics and automotive. Second, the number of metal fabricators in the Asia-Pacific region has grown and many of the companies in that region are investing significant funds into research to find even more ways to utilize metal stamping in their operations. And third, the recent decline in metal prices has created more opportunities to use metal stamping to produce affordable metal parts.
The Automotive Metal Stamping Market
The automotive metal stamping industry in the United States is estimated by IBISWorld to be $40 billion, involving 773 companies and over 115,000 employees. The industry continues to grow each year. The future of metal stamping is positive because the use of metal in the manufacture of automotive parts offers versatility, dependability, and affordability. Various metals allow manufacturers to produce high-quality parts with lower costs, thereby resulting in greater profits.
The industry manufactures many automotive parts and components including:
- Body panels and tops
- Vehicle bumpers, fenders, and hubcaps
- Moldings and trim pieces
- Engine and transmission components
- Brake components
- Windshield wiper arms and system components
- Brackets, clamps, and clips
- Interior and exterior lighting components
The strength, flexibility, and versatility of stamped metal parts allow all this production while enabling automotive manufacturers to meet safety standards, reduce vehicle weight, and reduce consumer costs. As well, precision-stamped metal parts contribute to the drive to improve fuel efficiency.
The public has evidenced a desire for vehicles that are safer and use less fuel, but which also maintain high expectations for size, performance, and comfort. The future of metal stamping positively delivers on all these expectations.
North America is the most significant producer of metals including aluminum, steel, and iron which are all used in the automotive industry. The growth in the production of passenger and heavy commercial trucks also influences the growth of the automotive industry. Clearly, the future of metal stamping is positive.
Seek Proven Manufacturing Expertise for Precision Metal Stamping Needs
Contact Velocity Metalworks, serving the Greater St. Louis area and the Midwest. We have been recognized as a valued partner in the metal stamping industry for our strong tool design and build competency. With our metal stamping capacity, precision machining services, and EDM capability, we provide the superior experience, precision, and quality you can depend on.