Stamping (known as pressing) is the process of placing flat sheet metal in either blank or coil form into a stamping press where a punch and die surface forms the metal into a net shape. Stamping includes a variety of sheet-metal forming manufacturing processes, such as punching using a machine press or stamping press, blanking, embossing, bending, flanging, and coining. This could be a single stage operation where every stroke of the press produces the desired form on the sheet metal part or could occur through a series of stages. The process is usually carried out on sheet metal, but can also be used on other materials, such as polystyrene. The Metals used in automotive metal stamping are aluminum, steel, brass, copper, and stainless steel.
The growth of the global automotive metal stamping market is expected to be driven by the booming automotive industry and the rapid increase in demand for smart automobiles. The increase in competition in the automotive industry is also leading to the rising demand for the metal stamping market. The process of metal stamping is applied in various stages of manufacturing in the automotive industry, such as panels, brackets, bonnets, roofs, hangers, and others, thus constantly inducing demand in the automotive metal stamping market. An increase in the use of metal sheets for the manufacturing of automobile chassis, transmission components, interior & exterior structural components, is projected to drive the growth of the global automotive stamping market over the forecast period.
The Global automotive stamping market can be divided into seven geographical locations such as North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East, and Africa. The Asia-Pacific market is anticipated to grow steeply in the stamped components, as the automotive sector in China, Japan, and India is growing at a rapid pace. In Latin America, Brazil is the strongest automotive stamped components market preceded by Mexico and Argentina, due to improved production and sales of automobiles in these regions. European countries such as the U.K. and Germany are also expected to grow in the stamped component market as demand for vehicles in these regions has increased exponentially.
India is expected to grow a CAGR of 9.2% over the forecast period on account of the rising demand for vehicles coupled with initiatives taken by the government to promote vehicle manufacturing in the country. In addition, the growing investment of the major vehicle manufacturers is likely to drive the demand for stamped parts in the country.
Recovering Eurozone and rapid economic growth in Asia Pacific countries, primarily in Indian and China is expected to fuel demand in the automotive sector, driving the demand for the automotive metal stamping market over the forecast period. However, tightening access to finances is affecting the Brazilian manufacturing growth hamper demand in the country.
