Fabricated Metal Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Fabricated Metal Products Market Introduction
Metal fabrication is a process followed to give metal a particular shape and turn it into various types of end products depending on the end-use applications of fabricated metal products. Various modern techniques can be employed in metal fabrication processes to manufacture various types of fabricated metal products, such as metal cans, shipping containers, structural metal parts, forgings & stampings, screws & bolts, ordnance accessories, cutlery, hand tools, and other fabricated metal products used in various types of hardware.
Fabricated Metal Products Market – Notable Developments
In September 2018, the company announced the approval of an US$ 650 million investment in expanding the flat-rolled sheet steel mill in Kentucky, to ultimately double the production from 1.6 million tons to 3 million tons per year. This investment complements the company’s recent investment of over US$ 176 million for constructing a pickle galvanizing line at Nucor Steel Gallatin, which is likely to begin producing around 500 thousand tons per year of galvanized hot band steel in the first half of 2019.
Some of the most prominent competitors operating in the competitive landscape of global fabricated metal products market include –
Fabricated Metal Products Market Dynamics
Flourishing Growth of the Metal Fabrication Industry to Drive Growth of the Fabricated Metal Products Market
The demand for fabricated metal products and overall growth prospects of the metal fabrication industry mainly depend on economic growth to thrive and its impact on other industrial sectors. Post the Great Recession, the global economic landscape has recalibrated itself, creating positive growth environment for various industrial sectors, including the fabricated metal products market.
Current modifications in business models of various industries include a major shift from depending on a few large projects to procure yearly profits to maintaining steady sales volumes by diversifying products. This has continued to boost growth of the metal fabrication industry. Thereby, improving growth prospects of the metal fabrication industry with the recovering global economy is expected to provide an impetus to growth of the fabricated metal products market.
A Palpable Shift from Fabricated Metal Products to Lightweight Plastics will Hamper Fabricated Metal Products Market
The lightweighting trend is spreading fast across a wide range of industrial sectors, which is bringing in some huge transformations in the raw materials used in various end-use applications. Most industry players are replacing heavy weight fabricated metal products with lightweight alternatives, such as components made of plastic. The automotive industry and the aerospace industry are among the leading end-use industries that have amassed the lightweighting trend by spurning fabricated metal parts with plastics. Thereby, increasing popularity of the lightweighting trend is likely to impede growth of and developments in the fabricated metal products market in the upcoming year.
Fabricated Metal Products Market Segmentation
Based on product types, the fabricated metal products market is segmented into
Based on the end-use industries, the fabricated metal products market is segmented into
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