(EMAILWIRE.COM, August 30, 2019 ) The Metal Forming Market was valued at USD 217.69 billion in 2017 and is projected to grow to USD 269.01 billion by 2025, at a CAGR of 2.83% during the forecast period.

The global market is booming because the rising vehicle production along with stringent emission norms and fuel economy regulations are driving the demand for lightweight materials in the automotive industry. Other than this, new metal forming techniques such as hot forming and hydroforming are making metal-formed components better and stronger.

The metal forming market for automotive is dominated by manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan).

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“By vehicle type, passenger car is expected to hold the largest share of the metal forming market for automotive”

According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), passenger cars accounted for 61.2% of the overall vehicle production in 2017. In 2017, according to OICA, the passenger car production in the Asia Oceania region was approximately 44.96 million units. Passenger cars have the highest application of formed components, more than that for light and heavy commercial vehicles. Owing to the increasing passenger car production, especially in the Asia Oceania region, and high applications of metal forming, the passenger car segment is projected to share of the metal forming market, by vehicle type.

“Aluminum is expected to show the fastest growth over the forecast period, by material type”

The contribution of aluminum to the overall vehicle weight has grown substantially over the years. According to the ACC, the contribution of aluminum has increased from 7.8% of the total vehicle weight in 2005 to about 9.0% in 2012, and approximately 9.9% in 2015 for lightweight vehicles in North America. Several automotive components are manufactured using aluminum. These include cross-car beam, front door, oil pan, rear door frame, and seat frame. Aluminum is rapidly replacing steel in many automotive applications like the body in white and chassis. Its usage rate (%) for forming applications is higher in Europe and North America when compared with that in Asia Oceania. However, even with the low usage rate, Asia Oceania is the largest market for aluminum, owing to its huge vehicle production.

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“Asia Oceania is estimated to be the largest metal forming market for automotive over the forecast period”

China, India, Japan, South Korea, and others are considered under the Asia Oceania region for this study. China is the largest contributor in terms of vehicle production in the Asia Oceania region. Out of total vehicle production, China contributed approximately 24.9% in 2017. Japan is the second-largest vehicle producing country which contributes approximately 8.4% to global vehicle production. In addition to high vehicle production, factors such as increasing GDP, rising per capita income, low production costs, availability of economic labor, and government initiatives for FDI have created growth opportunities for the OEMs and tier 1 players of the metal forming market in the Asia Oceania region. Even the presence of the tier 1 players such as Aisin Seiki (Japan), Hirotec (Japan), and Toyota Boshoku (Japan) is driving the Asia Oceania metal forming a market for automotive.

Target Audience:

• Automotive component manufacturers
• Automotive lightweight component manufacturers
• Automotive material suppliers
• Automotive manufacturer associations
• Automotive Original Equipment Manufacturers (OEMs)
• Forming equipment manufacturers
• Suppliers of conventional materials to automotive component manufacturers

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