Sheet Metal Market Size & Share, by Material Type (Steel, Aluminum); Form Type (Bend Sheet, Punch Sheet, Cut Sheet); Product (Flat Pieces, Coil Strips); End-user (Automotive, Transportation, Building, Construction, Industrial Machinery) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4427
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Sheet Metal Market size is projected to surpass USD 450 billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of sheet metal was over USD 400 billion. The primary factor that is attributed for the growth of the sheet metal market is the expansion of manufacturing industry, along with its usage in various manufacturing processes owing to its great advantages. The recent sources revealed that in 2022, the manufacturing industry of the United States region generated an amount of approximately USD 6 trillion.

The rapid industrialization and urbanization has propelled the adoption rate of sheet metal in varied manufacturing processes. The great advantages of the sheet metal including, high durability, easy usability, great finishing and others have made the sheet metal a preferred option over other components in the manufacturing industry for manufacturing various products. Thus, an increase in number of manufacturing businesses is forecasted to augment to bring in lucrative opportunities in the upcoming years. A latest report published stated that in 2022, the number of manufacturing businesses in the United States counted to be 720,000, an increase of 4% from 2021.

Sheet Metal Market
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Sheet Metal Sector: Growth Drivers and Challenges

Growth Drivers

  • Rapid Growth in Automotive Industry – The production of vehicles requires large amount of sheet metal. Further, the advantaged provided by the sheet is the prime factor that is expected to drive the sales of sheet metal in the automotive industry. Thus, the expansion of automotive industry is expected to drive the growth of sheet metal market. As per recent statistics, the revenue generation by the global automotive industry by 2030 is projected to reach at USD 9 trillion.
  • Recent Advances in Chemical Industry – The focus of the government and expenditure made the chemical industry to grow. This has propelled the Indian chemical industry to grow by a CAGR of 10% with a revenue of USD 300 billion by 2025.
  • Increased Level of Electronics Industry - As per recent estimates, it was calculated that the revenue generated by the U.S. electronics industry in 2019 stood up at USD 300 billion.
  • High Expenditure in Research & Development – World Bank released the global expenditure made in Research & Development (R&D) sector which showed that in 2020 it was 2.63% of the total GDP. This is an increase from year 2.14% of total GDP in 2016.


  • Fluctuation in Costs of Raw Materials
  • Additional Expenses Incurred – During the manufacturing process of sheet metals, several other additional expenses are incurred. As a result, the cost of end product rises, making it less accessible to the population with middle income. This trend is expected to pose as a challenge to the market growth in the forecast period.
  • Stringent Government Rules

Sheet Metal Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 400 Billion

Forecast Year Market Size (2033)

~ USD 450 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Sheet Metal Segmentation

End-user (Automotive, Transportation, Building, Construction, Industrial Machinery)

The global sheet metal market is segmented and analyzed for demand and supply by end-user into automotive, transportation, building and construction, industrial machinery, and others. Out of these, the automotive segment is expected to garner the highest market share by 2033, backed by the blooming of automotive industry, owing to the high demand of vehicles for varied processes. It is per recent statistics that shows the global automotive industry is forecasted to reach approximately USD 9 trillion by 2030. Also, the recent high demand of automobiles by the burgeoning population is anticipated to increase the demand of sheet metal to provide extra protective layers to the vehicles, making it durable and visually attractive. As per International Organization of Motor Vehicle Manufacturers (OICA), the global sales of vehicles augmented to 56,398,471 units in 2021 from 53,917,153 units in 2020. Whereas, the global production of vehicles calculated to be 57,054,295 units in 2021, an increase from 55,908,989 units in 2020.

Our in-depth analysis of the global market includes the following segments:

       By Material Type

  • Steel
  • Aluminum
  • Others

       By Form Type

  • Bend Sheet
  • Punch Sheet
  • Cut Sheet

       By Product

  • Flat Pieces
  • Coil Strips

      By End-Users

  • Automotive
  • Transportation
  • Building and Construction
  • Industrial Machinery
  • Others

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Sheet Metal Industry - Regional Synopsis

North American Market Forecast

The North America sheet metal market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to blooming chemical industry. The expansion in the chemical sector is a symbol of increased production rate of sheet metal which is expected to expand the market size. As per recent reports, the revenue generation by the chemical industry in the United States region amounted to be almost USD 550 billion in 2019. Further, the high demand of vehicles is augmenting the automotive sector in the region, which is further expected to increase the production rate of sheet metal. This is expected to bring lucrative opportunities in the upcoming years. International Organization of Motor Vehicle Manufacturers (OICA), the sales of all type of vehicles in America region grew from 20,814,832 in 2020 to 22,001,152 in 2021, whereas the production of the same region was 16,151,639 vehicles in 2021.

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Sheet Metal Market Size
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Companies Dominating the Sheet Metal Landscape

    • United States Steel Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Alcoa Corporation
    • Hydro Group
    • POSCO
    • JFE Group
    • Nippon Steel Group
    • Kaiser Aluminum Corporation
    • Constellium
    • Novelis group


In The News

  • United States Steel Corporation along with Norfolk Southern Corporation and The Greenbrier Companies, Inc. have entered into a joint partnership to develop a new, more sustainable steel gondola railcar.

  • JFE Group has joined hands with Itochu Corporation and Emirates Steel Arkan to conduct detailed studies on the establishment of a supply chain of the ferrous raw material for green ironmaking with low-carbon emission.

Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 4427
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing expansion of manufacturing sector along with the high utilization rate of sheet metal in various end-use industries is expected to bring growth opportunities in the forecast period.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2033.

The constant fluctuation in prices of raw materials along with the additional expenses incurred in the manufacturing processes and stringent government rules are some of factors that are expected to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are United States Steel Corporation, Alcoa Corporation, Hydro Group, POSCO, JFE Group, Nippon Steel Group, Kaiser Aluminum Corporation, Constellium, Novelis group, HBIS GROUP, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by material type, form type, product, end-users, and by region.

The automotive segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Sheet Metal Market Report Scope

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