Casting, Forging and Stamping Industry Procurement Intelligence, Supplier Intelligence, Day One Analysis Report, 2020 – 2027
Procurement Outlook
Casting is a process where a metal is treated with heat to reach
its boiling point, liquefy, and the liquid material is poured into a mold that
contains a hollow cavity of the shape which is desired upon the solidification
of the metal. Forging is a process of applying pressure on metals and pressing
or hitting it, thereby changing and altering their shape. Stamping is a process
that converts flat metal sheets into specific shapes using various techniques
like blanking, punching, bending, piercing, etc. The major difference between
forging and stamping is in its application. Forging is used for processing
metal parts where the thickness of the metal is changed in the process. In the
case of stamping, the thickness remains unchanged. It is essentially a process
of cutting metals.
Demand
Outlook
The global metal casting, forging and stamping market as
estimated at USD 397 billion in 2020. The market is projected to grow at a CAGR
of 5.1%. The automotive sector and the aviation sector are two of the major
consumers of casting forging and stamping industries and the growing demand for EVs is
leading to new and innovative requirements for metals and light metal stamping and
cast parts. With the requirement for lightweight metal stamping, die casting of
auto parts are also on the rise.
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report summary: Casting,Forging and Stamping Industry Procurement Intelligence
This is fueling the demand from casting, forging, and stamping
industry. On the other hand, COVID protocols have put a limitation on air
travel. Hence demand from the aviation industry, both from new production as
well as from a replacement perspective has significantly reduced. However, the
demand is expected to improve during the period of forecast.
From a material perspective, the type of material which is used
in casting, forging, and stamping can be divided into two categories. They are
ferrous and non-ferrous metals. As of 2020, the industry consumption for
ferrous casting is 68.4 million metric tonnes while non-ferrous casting
consumptions are a meager 6 million metric tonnes. Consumption of ferrous
casting is expected to grow by a CAGR of 4.7% while the consumption of
non-ferrous casting is expected to grow by a CAGR of 3.5% CAGR during the
period of forecast (from 2020 to 2025).
Cost Drivers
The end-user industries for casting, forging, and stamping
industries are witnessing a rise in the demand for lightweight materials,
automotive industries particularly driving this requirement. Such requirements
are slightly different from the traditional casting, forging and stamping
requirements, and companies operating in the industry for the same are required
to adjust their approach while dealing with lightweight materials. Geographic
trends industry expansion in countries like India and Germany and the emergence
of emerging technologies like 3D printing, sand blinders, and material handling
robots are helping reduce the cost of manufacturing, speeding up the process of
casting or stamping or eliminating human error thereby reducing wastage.
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industry, identifying standard KPIs and SLAs, peer analysis, negotiation
strategies to be utilized with the suppliers, and best-suited countries for
sourcing to minimize supply chain disruption
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