The Business Research Company Global Metal Products Market Report 2021: Impact and Recovery of COVID-19 to 2030
LONDON, GREATER LONDON, UK, January 26, 2021 /EINPresswire.com/ – New year, new updates! Our reports have been revised based on market size, forecast and strategies for 2021 following the impact of COVID-19: https://www.thebusinessresearchcompany.com/global-market-reports
The metal products industry has benefited from the rapid growth of the automotive industry during the historical period. For example, steel, aluminum and magnesium are some of the metals commonly used in the automotive industry for the manufacture of body panels, engines, transmissions and many other parts. According to Deloitte, in 2016, 25% of the domestic demand for steel in the United States came from the automotive industry, and car sales in the United States reached an all-time high of 17.6 million vehicles in 2016. By Consequently, the increase in demand for automobiles during this period has been positive. impacted the metal products manufacturing market. The global automotive vehicle market is expected to grow from $ 2.11 trillion in 2020 to $ 2.30 trillion in 2021, and then to $ 3.23 trillion in 2025 at a CAGR of 9%.
The global metal products market is expected to grow from $ 2.11 trillion in 2020 to $ 2.42 trillion in 2021 at a compound annual growth rate (CAGR) of 14.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The fabricated metal products market size is expected to reach $ 3.13 trillion by 2025 at a CAGR of 7%.
The global metal products market is segmented by type into forged and stamped products, cutlery and hand tools, architectural and structural metals, boiler, tank and shipping container, hardware, springs and wire products, machine shops, turned and screw, nut, and bolt products, coated, etched and heat-treated metal products, metal valves, other fabricated and end-use metal products in construction, manufacturing, other. Sub-segments covered are forged iron and steel products, non-ferrous forged products, custom rolled products, powder metallurgy parts, metal crowns, closures and other stamped metal products, kitchenware metal, utensils, cutlery and cutlery, saw blade and hand tool, sheet metal and fabricated structural products, ornamental and architectural metal products, electric boiler and heat exchanger, metal tank (heavy gauge), metal box, box and other metal container (light gauge), furniture hardware, automotive hardware, builder’s hardware, other hardware, springs, other wire products, machine shops, turned products and screws, nuts and bolts, heat-treated metal products, coated metal products, etched and related services to manufacturers, galvanized, plated, polished metal, anodized and colored products, industrial valves, hydraulic valves and pipe fittings, plumbing fittings and fittings, other metal valve and pipe fittings, ball and roller bearings, fabricated pipes and pipe fittings g, all other products various metalwork.
Here is a list of similar reports from the trade research company:
Global Coated, Etched and Heat-Treated Metal Products Market Report 2021: Impact and Recovery of COVID-19 through 2030
Global Metals and Minerals Market Report 2021: Impact of COVID-19 and Recovery to 2030
Global Metals and Minerals Manufacturing Market Report 2020
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