A new report that states US demand for metal stampings will reach $47.5 billion in 2021 because of continued growth in US production for durable goods, may have a positive impact on Canadian manufacturers and create new opportunities for business.
US demand for metal stampings at the manufacturers’ level is forecast to reach $47.5 billion in 2021, according to Metal Stampings: United States, a report recently released by Freedonia Focus Reports.
Demand for motor vehicle stampings, the largest demand segment, is expected to grow at a slower pace over the forecast period than historically due to slower increases in motor vehicle output. Relatively faster growth in the output of medium- and heavy-duty vehicles will provide opportunities for metal stamping suppliers.
Competition from alternative fabrication processes and materials will restrain growth. Plastics and composite materials offer superior corrosion resistance, especially compared to ferrous metals used in durable goods. Reinforced plastics offer greater strength and stiffness than conventional plastics, and consequently they have taken some market share away from steel and other metals in applications such as motor vehicle parts.
These and other key insights are featured in Metal Stampings: United States. This report forecasts US metal stampings demand in nominal and real (inflation-adjusted) US dollars at the manufacturers’ level to 2021. Total demand is segmented by product in terms of:
- motor vehicle stampings
- job stampings
- end products
- spinning products.
To illustrate historical trends, total demand, the various segments, and trade are provided in annual series from 2006 to 2016.