LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Sheet Metal Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the metals and mining industry. This report breaks down the data and analysis behind the procurement of sheet metal and acts as an all-inclusive guide for making smart purchasing decisions.
“Increasing demand from the automobile sector and the growth of manufacturing sector in developing countries such as China, Malaysia, and India drives the global demand for sheet metal,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, there is an increasing demand for custom sheet metal as standardized sheets fail to meet the unique design and performance characteristics required by buyers across different end-user industries,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Sheet Metal Market:
- Growing use of sheet metal for interior designing
- Increasing use of thin slab casting method for production of sheet metal
- Rising usage of 3D printing for fabrication of sheet metal in major end-user industries
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Growing use of sheet metal for interior designing:
There is an increase in the use of sheet metal for interior designing; this can be attributed to its low cost, high potential for customization, low installation costs, and high durability. The corrugated form of sheet metal is widely used for interior designing. It is used to provide a rustic or industrial setting to an environment. Also, the corrugated sheets can be designed in a variety of shapes, colors, and finishes, which can be used to complement any desired setting easily. Sheet metal provides more and offers the benefit of lower costs when compared with other materials used for interior designing.
Increasing use of thin slab casting method for production of sheet metal:
Sheet metal produced using continuous slab casting machines led to higher development costs for suppliers and subsequently higher procurement costs for buyers. Hence to lower development costs, suppliers are now using thin slab casting method by which thin strips of metal can be produced directly from the molten steel. Adopting this method for production of sheet metal leads to lower energy requirements, lower capital expenses, and significantly faster production times.
Rising usage of 3D printing for fabrication of sheet metal in major end-user industries:
Several end user-segments of sheet metal have started using 3D printing for the creation of dies used in customization of sheet metal. In 3D printing, the sheet metal is clamped and is pressed from opposite sides by using computer-controlled styluses. As the cutting of the metal is conducted by using computer commands, the metal can be customized in the desired shape with high strength and excellent surface finish. This method also helps in reducing the time required for prototyping of the sheet metal.
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