Latest industry survey by Fact MR, predicts Aluminum Sheet Metal sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
The report offers actionable and valuable market insights of Aluminum Sheet Metal. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Aluminum Sheet Metal Market across various industries and regions.
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Sheet metal Market: Segmentation
Fact.MR has segmented the sheet metal market on the basis of material, application, end-use and region.
- Vehicle Bodies
- Electrical appliances
- Storage and Packaging
- Automotive sector
- Aerospace Industry
- Industrial tool and machinery
- Building & Construction
- Home appliances
- North America
- Latin America
- East Asia
- South Asia & Oceania
Competition in the global market for sheet metal is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold.
- In August 2021, Cornerstone Building Brands, Inc. announced that it has completed the previously announced sale of its Insulated Metal Panels business to Nucor Insulated Panel Group, Inc. and certain of its subsidiaries in a cash transaction for $1 billion.
- In August 2021, ATAS International announced the launch of a new linear ceiling panel- the Opaline Metal Panel. This flexible panel, in four profiles, can be used as a linear metal ceiling. It can be snapped into a suspension carrier to create a complete system, or mechanically attached to most standard substrates.
Key Takeaways from the Market Study
- Steel based sheet metal to create absolute $ opportunity of US$ 107 Bn by 2031
- Aluminum based sheet metal to surge at a CAGR of 5% over the forecast period
- Automotive industry poised to account for over 25% of the revenue share
- Sheet metal for construction applications to account for 55% of the overall revenue
- North America to experience a growth of nearly 5% across the forecast period
- Over half of sheet metal sales to be stimulated by East Asia through 2031
- South Asia to surge at around 5% value CAGR across the forthcoming decade
- Europe to account for nearly 1/4th of the sheet metal industry revenue until 2031
“Mounting emissions concerns is prompting automotive manufacturers to incorporate lightweight construction material for various components, impelling sales of sheet metals of various grades”, says the Fact.MR analyst.