Many people may not realize this, but metal stamping is an essential piece to the manufacturing process that provides many benefits to companies of all sizes. In order to gain a better understanding of the benefits that stamping can provide, it is important to gain an understanding of why many businesses use the metal stamping process.
Why is the metal stamping market growing? It is no secret that the 2020 global Coronavirus pandemic has had a negative effect overall on the global economy.
While no two countries have faced identical outcomes, the overall trend has been toward an economic shrinking rather than growth.
According to the IMF, it’s been predicted that “the global economy will shrink by 3% this year. It described the decline as the worst since the Great Depression of the 1930s.”
And yet amid all this flux, the metal stamping market outlook is bright.
There’s a reason why.
There’s never been another year like 2020. It’s unrivaled in recent history for its global disruption. Here in North America, the ongoing coronavirus pandemic, coupled with political turmoil and social unrest, has caused quite a disruption. It’s safe to say that no industry has been immune to the fallout. That includes the metal stamping market.
The majority of manufacturers will consider metal stamping, hydroforming, and other methods to be processes that are specialized and closely-focused. However, hydroforming and other metal-forming methods are used in a variety of industries. These methods are known to be used in the following industries:
In the manufacturing industry, there are multiple processes that can compete with one another and still create the same products or products that are similar. The metal stamping process is one of the processes that can compete. This process does have a variety of differences that can separate it from the other competing processes.
Over the past few years, metal stamping has experienced a significant amount of growth in a variety of industries. One of the contributing factors to the financial growth of the process is the growth we experienced in our economy. The growth in the United States’ economy has opened the door for a variety of opportunities for production and manufacturing in multiple industries.
When it comes to metal stamping, the process is not a new process. It’s history can be dated all the way back to the 1800s, and this was during the type when bicycle parts were being mass-produced. However, the metal stamping systems and other resources that were being used were not as advanced as they are today. The metal stamping systems during that time were still able to produce a variety of effective and efficient parts and components.
Many business owners associate metal stamping with automotive manufacturing but this method is becoming a popular choice in other industries. Metal stamping, which uses dies and punches to form and cut cold metal, has evolved over the years as technology advanced. Not only is stamping a good way to turn out expensive and lightweight parts for the transportation industry, but it continues to be the best option for many other types of metal products, including tools and household goods.
According to recent reports, the metal stamping market is poised to continue expanding throughout the next decade. Experts are predicting a stable rise of 4.92% over the next few years, with the trend continuing in the years to follow.
That’s good news, and not just for those of us here in the United States.
From 2018 to 2026, the industry will continue its global expansion.
Since 2003, American Hydroformers has set high standards in the hydroforming industry and has continued to work hard to stay at the top of the manufacturing industry. American Hydroformers continue to invest in the equipment and technologies that we know our customers will appreciate. One of our goals is to provide high-quality products at a price our customers they can afford, and this is one of the reasons why we offer more than one way of forming materials.
