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Sheet Metal Market by Material Type (Steel, Aluminum, Copper, and Others)-激光设备展-钣金工业展-2024第二十四届广州国际激光设备、钣金工业展览会-巨浪展览- 2024 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
10/16/2023 钣金工业展-激光设备展-sheet metal expo-Laser expo |
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The global sheet metal market size was USD 307 Billion in 2022 and is expected to reach a value of USD 518.67 Billion in 2032 and register a revenue CAGR of 6% during the forecast period.The construction industry''s explosive growth, the rising need for lightweight and high-strength materials in the automotive industry, and the expanding usage of sheet metal in the aerospace and defence sectors are the main drivers of market growth.
The spike in demand from the building industry is one of the main drivers of the sheet metal market''s expansion. The demand for sheet metal goods has increased as a result of growing construction activity and the move towards sustainable and energy-efficient buildings. Due to its strength, light weight, and ease of installation, sheet metal is utilized in the building sector for Roofing, cladding, and other purposes.
Another significant user of sheet metal goods is in the auto sector. The requirement for fuel efficiency and lower emissions has enhanced the need for lightweight and high-strength materials in the automotive sector. The advantages of sheet metal over other materials include its great strength, low weight, and affordability. The need for sheet metal goods in the automotive industry is also being driven by the rising popularity of electric vehicles.
In addition, the aerospace and defence sectors are significant users of sheet metal goods. These industries use sheet metal because of its strength, durability, and light weight. Components for aircraft, spacecraft, military gear, and automobiles are all made out of sheet metal.
In addition, the market is expanding due to the rising use of sheet metal in the production of consumer devices including laptops, tablets, and smartphones. Due of its strength, lightness, and affordability, sheet metal is chosen over other materials while making these products.
The demand for sheet metal products is also being fueled by the implementation of strict government laws on carbon emissions and energy efficiency. Regulations are being implemented by governments all over the world to cut carbon emissions and increase energy efficiency, which is encouraging the use of sheet metal products in a variety of industries.
The high cost of raw materials, growing competition from substitute materials, and price variations for raw materials are some factors that limit the growth of the sheet metal industry. One of the biggest problems the sheet metal sector is facing is the rising cost of raw materials like Steel and aluminium. The market''s expansion is also hampered by the variable cost of raw materials.
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