LONDON--(BUSINESS WIRE)--The global sheet metal market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growth in machine tools market. Machine tools, such as the ones used for drillings, cutting, and shaping, are fundamental in various industries, such as semiconductor, automotive, heavy industries, and other manufacturing sectors. The growth in the machine tools market will lead to an increase in demand for machine forming tools.
This market research report on the global sheet metal market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advances in the aluminum market as one of the key emerging trends in the global sheet metal market:
Global sheet metal market: Advances in the aluminum market
Aluminum is one of the major raw materials used for sheet metal production; thus, technological or product advances in the aluminum market will have a direct impact on the global sheet metal market. Aluminum is a chief component used to produce drink cans, airplane parts, automobiles, laptops, and mobile phones.
“The production process for aluminum releases high quantities of carbon emissions, negatively impacting the environment. This has been overcome by new advances in technology to reduce the CO2 emissions and production-related expenses. For the process, inert anodes are used instead of carbon-rich anodes, leading to the production of oxygen instead of carbon dioxide. Thus, the increasing adoption of such manufacturing processes across the globe will increase the production of aluminum, in turn, driving the production of sheet metals in the future,” says a senior analyst at Technavio for research on metals and minerals.
Global sheet metal market: Segmentation analysis
This market research report segments the global sheet metal market by end-user (automotive, construction, and machinery) and geographical regions (APAC, EMEA, and the Americas).
The automotive segment held the largest market share in 2017, accounting for nearly 44% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 45%. This region is expected to dominate the market through 2022, with an increase in its market share by nearly 3%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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