The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global metal products market is on a trajectory of substantial growth, fueled by a robust increase in market size and transformative trends. Let’s delve into the key factors propelling this growth and the dynamic dynamics shaping the metal products industry.

Impressive Market Growth and Projections

• Market Growth Projection:
  • Grew from $2,632.6 billion (2022) to $2,851.45 billion (2023) at a CAGR of 8.3%.
  • Expected market size of $3,807.64 billion in 2027 at a CAGR of 7.5%.

Automotive Industry Boosting Metal Products Demand

• Rapid Growth in Automotive Sector:
  • Steel, aluminum, and magnesium play crucial roles in manufacturing automotive components.
  • Metals used in the automotive industry include body panels, engines, and transmissions.
  • India experienced a 2.36% CAGR in automobile production between FY20, manufacturing 26.36 million vehicles.
  • Net domestic automobile sales increased at a 1.29% CAGR in FY20, with 21.55 million vehicles sold.
  • The surge in automobile demand positively impacted the growth of the metal products manufacturing market.

Key Players Driving Innovation

• Major Companies:
  • Stanley Black & Decker Inc., Ball Corporation, Berkshire Hathaway Inc., and more.
  • Industry leaders contributing to the growth and innovation in the metal products market.

Rise of Robotics and Automation

• Technology Transforming Manufacturing:
  • Robotics and automation adopted to enhance plant efficiency and productivity.
  • Sensors used for data collection, improving efficiencies, and minimizing breakdowns.
  • Boston Consulting Group (BCG) predicts the deployment of 1.2 million industrial robots by 2025.
  • KPMG reports that 16% of global metals company executives have invested in robotics.
  • 31% have plans to invest, and 42% express willingness to invest shortly.
  • 63% of metal manufacturing executives are considering investing in automation.

Segmentation for Varied Metal Products

• Segmentation Overview:
  • Types: Forged and Stamped Goods, Cutlery and Hand Tools, Architectural and Structural Metals, and more.
  • Metal Types: Aluminum, Beryllium, Cadmium, Chromium, and other metal types.
  • End Users: Construction, Manufacturing, and other end users.
• Tailoring Solutions for Diverse Needs:
  • Various types cater to a range of metal product requirements.
  • Metal types provide options for specific applications and properties.
  • Different end-user categories address the unique needs of construction, manufacturing, and others.

Regional Dominance: Asia-Pacific at the Helm

• Regional Landscape:
  • Asia-Pacific emerges as the largest region in the metal products market in 2022.
  • The region plays a pivotal role in shaping the global metal products market.

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Read The Full Metal Products Market Report Here:

https://www.thebusinessresearchcompany.com/report/metal-products-global-market-report

The Metal Products Global Market Report 2023 provides an overviewof the metal products market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The metal products market forecast analyzesmetal productsmarket size, metal products market share,leading competitor and their market positions.

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