LONDON, May 04, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s Metal Fabrication market research report, key trends in the metal fabrication industry are based on major technological improvements. Companies in the metal products market are increasingly developing innovative products to meet the growing demand for more complex forging operations. The companies are focusing on new preforming technology and hammer automation to reduce contact times, and on the next generation of control systems. With the technology of forging aluminum or preform steel, a defined preform is obtained in a single forming movement, whereas the traditional process used hydraulic presses and cross rollers.
In addition, the continuous preforming process, especially for aluminum, requires only a small amount of cooling for the component and is capable of achieving high cycle times which offers potential for material saving and production of a high complexity part. In addition, with the introduction of a new forging control system (FCS), the generation offers a concept including thickness measurement and process control during the forging operation at low cost. Companies such as Muller Weingarten offer different processes for preforming the forging of aluminum or steel.
Demand for improved productivity, efficiency, quality, use of fine and sophisticated metals, and increased pressure to meet shorter project deadlines are pushing metal product manufacturers to also use new welding technologies, such as laser conduction welding using a laser. beam to form precise welds; Resistance spot welding which uses electrodes to directly weld metals such as aluminum and others. Advanced welding technologies are also used to produce tools essential to industrial and manufacturing machinery. The companies are also developing new, innovative welding methods for the fabricated metal products market.
For example, Toyo Seikan, a Japanese packaging container manufacturing company, uses thermocompression bonding using nylon film as an adhesive to make tin-free steel cans. Other companies such as Great Lakes Engineering, American Industrial Company use laser welding technology to weld stainless steel, copper, brass, titanium, nitinol, nickel and others.
Currently, during the COVID-19 situation that has taken over the world, companies are looking for alternative products and solutions to mitigate the loss of revenue due to the pandemic and generate other sources of income. Metal products companies are focused on developing innovative products that can be used during the pandemic. For example, the German automotive industry company, Schaeffler Group, introduced the “Safe Hand” tool to further reduce the risk of infection for employees. The tool helps open doors, press the elevator button, turn on the light, and push shopping carts. The tool is designed to allow the use of knobs and door handles without directly touching them, reducing contact and the risk of infection.
The Business Research Company report titled Metal Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers key Metal Products Companies, Metal Products Market Share by Company, Manufacturers of Metal Products, Product Size Metal products market and metal products market forecast. The report also covers the global metal products market and its segments.
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The global metal products market is expected to grow by $ 2.12 trmillion in 2020 at $ 2.42 trmillions in 2021 at a compound annual growth rate (CAGR) of 14.5%. The growth is mainly driven by 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 that have resulted in operational challenges. The market is expected to reach $ 3.14 trmillions in 2025 at a CAGR of seven%.
The market trend-based strategies for the metal products market include the incorporation of various technologies. These include that of robotics and automation to increase productivity and generate more income, invest in the implementation of IoT in metal product manufacturing processes to improve the quality of their products and services. , implement additive manufacturing to increase operational efficiency and improve product design, using advanced welding methods. to improve the productivity, efficiency and quality of metal products, using recycled metal to reduce energy consumption and greenhouse gas emissions, investing in advanced manufacturing technologies to improve production and reducing waste, and developing advanced forging technologies to improve complex forging operations.
Global Metal Products Market Report 2021: Impact and Recovery of COVID-19 to 2030 is part of a series of new reports from The Business Research Company that provide market overviews, analyze, and forecast the size and growth market overview for the entire market, segments and geographies, trends, drivers, restraints, revenues, profiles and market shares of major competitors in over 1,000 industry reports, covering over 2,500 segments market and 60 geographic areas. The report also gives an in-depth analysis of the impact of COVID-19 on the market.
The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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