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Sheet Metal Market

Sheet Metal Market By Material (Steel, Aluminum and Titanium Sheet Metal), By Application (Sheet Metal for Vehicle Bodies, Construction, Electrical Appliances, Fuselage and Storage and Packaging), By End Use - Global Review 2021 to 2031

Analysis of Sheet Metal market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Sheet Metal Market Outlook

The global sheet metal market, the industry is projected to expand at a healthy CAGR of 5% over the 2021 to 2031 time period, and reach a valuation of over US$ 496 Bn by 2031-end. As of 2021, the market is anticipated to be valued at US$ 292 Bn. The market is expected to expand 1.7x across the 2021-2031 assessment period.

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Consumption Analysis of Sheet Metal from 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – market research and competitive intelligence provider, during the historic period of 2016 to 2020, the market registered a moderate growth rate of 3%

Sheet metals are presently high in demand owing to their increased use in industries like aerospace and automobiles, as well as the medical sector. This growth is demonstrating lucrative avenues for players in the global sheet metal market during the forecast period.

Steel sheets were at the forefront of the market in 2021 and are poised to account for over more than half of the market share by 2031. Considering these factors, Fact.MR projects the global sheet metal market to expand at a healthy CAGR of 5% over the 2021 to 2031 time period, and reach a valuation of over US$ 496 Bn by 2031-end.

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How is Automotive Manufacturing Proliferation in New Geographic Clusters Boosting Growth?

The increasing demand for lightweight sheet metals in the construction of automotive chassis and bodies is set to drive its market over the forecast period. The trend of lightweight automotive to meet new emission standards such as BS-VI (Bharat stage – VI) and European emission standards will create significant demand for new grades of high strength steel. 

New grades offered by sheet metal manufacturers such as press hardened steels and martensitic steels are set to become material of choice by OEM’s (original equipment manufacturers). Aluminum sheet metals are able to fabricate complicated geometry parts of automotive such as rockers, pillars, roof rails, and cross members which will reap fruitful opportunities for market players.

Fact.MR projects that the automotive industry is poised to become a key consumer in the global sheet metal market accounting for over 25% of the revenue share by 2031.

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Why the Preference for Aluminum Sheet Metal?

Aluminum sheets find their use across a number of end-use industries such as packaging, transportation, building, and construction amongst others. Increased impositions of stringent regulations pertaining to reduction in vehicle weight eventually to cause a reduction in carbon emissions is expected to boost the demand for aluminum sheets in the automotive industry.

Increasing preference for aluminum as fuselage metal owing to its three times higher lifespan will bolster the growth of the sheet metal industry. Aluminum is preferred over traditional alloys owing to its non-corrosive properties, high tensile strength and it being 50% lighter than steel. In addition, escalating demand for aluminum in numerous applications such as fuselages and metal cans are set to drive the consumption of aluminum sheets at a positive CAGR of 5% over the forecast period.

Country-Wise Analysis 

Why are East & South Asia Attractive Investment Destinations?

East Asia has driven the consumption of sheet metals and is forecast to maintain its supremacy in the market accounting for over half of the market share by 2031. 

China being the largest consumer of steel and aluminum, dominated the regional share. The scenario is projected to continue, forecast to account for over three fourth of the regional share by 2031, creating significant demand of 122 million metric tons during the forecast period.

Trailing behind is South Asia, set to expand at a CAGR of around 5% during the forecast period. India’s steel consumption has been rising since 2018. India is one of the fastest-growing steel markets is likely to maintain steel consumption over the next ten years which will create remunerative opportunities in the sheet metal market till 2031.

How is the European Region Projected to Perform?

Fact.MR forecasts the European market is poised to exhibit a remarkable growth rate through 2031. As per the International Energy Agency, the surge in electric car registrations in Europe despite the economic slump reflects two policy measures. 

First, 2020 was the target year for the European Union’s CO2 emissions standards that limit the average carbon dioxide emissions per kilometer driven for new cars. Second, many European governments increased subsidy schemes for EVs as part of stimulus packages to counter the effects of the pandemic.

This surging number of auto sales will contribute to the rising popularity of different types of sheet metals over the coming years. Fact.MR expects the market for sheet metal across Europe to account for nearly 1/4th of the total revenue by 2031.

Will North America Continue Influencing Market Growth?

The North American sheet metal industry is likely to show a significant demand for the product especially from the end-use industries such as construction and automotive. Fact.MR projects the region to grow at a CAGR of nearly 5% until 2031.

The country accounts for a significant share in global automotive production. In August 2021, President Joe Biden announced the goal of slashing greenhouse gas emissions, aimed at making half of all new vehicles sold in 2030 electric, a move made with backing from the biggest U.S. automakers.

The administration also proposed new vehicle emissions standards that would cut pollution through 2026, starting with a 10% stringency increase in the 2023 model year.

Sheet metal market forecast analysis by Fact.MR

Category-wise Insights

Which Type of Material is projected to have the Highest Demand?

Steel sheets are poised to account for over more than half of the market share by 2031. Owing to high strength and good formability, it is used in a range of automotive applications such as body framework and power train.

Exceptional advantages of steel over other materials like high-temperature strength, oxidation resistance and quenching quality will help to maintain its dominance in the market.

How Lucrative is the Opportunity in the Construction Industry?

Increasing number of infrastructure projects and investments from regional governments are fueling the demand for sheet metals. The extensive use of metal sheets in the construction sector for building roofs is boosting the global sheet metal demand.

Building & construction segment is projected to account for the highest share of around 55% during the forecast period owing to the use of stainless steel sheets in the curtain wall and other construction applications like roofing, walling, ad cladding. 

Competitive Landscape  

Competition in the global market for sheet metal is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold.

  • In August 2021, Cornerstone Building Brands, Inc. announced that it has completed the previously announced sale of its Insulated Metal Panels business to Nucor Insulated Panel Group, Inc. and certain of its subsidiaries in a cash transaction for $1 billion.
  • In August 2021, ATAS International announced the launch of a new linear ceiling panel- the Opaline Metal Panel. This flexible panel, in four profiles, can be used as a linear metal ceiling.  It can be snapped into a suspension carrier to create a complete system, or mechanically attached to most standard substrates.

Report Scope 



Market size value in 2020

US$ 292 Bn

Market forecast value in 2031

US$ 496 Bn

Growth Rate


Forecast Period


Historical Data Available for


Market Analysis

US$ Mn for Value & Million Metric Tons for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Material
  • Application
  • End Use
  • Region

Key Companies Profiled

  • Alcoa Corporation
  • ArcelorMittal S.A
  • Arconic Corporation
  • Hindalco Industries Limited
  • JFE Steel Corporation
  • Nippon Steel & Sumitomo Metal Corporation
  • Nucor Corporation
  • Tata Steel Ltd.


Available upon Request

Key Segments Covered

  • Material

    • Steel Sheet Metal
    • Aluminum Sheet Metal
    • Titanium Sheet Metal
    • Other Sheet Metal Material
  • Application

    • Sheet Metal for Vehicle Bodies
    • Sheet Metal for Construction
    • Sheet Metal for Electrical Appliances
    • Sheet Metal for Fuselage
    • Sheet Metal for Storage and Packaging
    • Sheet Metal for Other Applications
  • End Use

    • Sheet Metal for Automotive Sector
    • Sheet Metal for Defense
    • Sheet Metal for Aerospace Industry
    • Sheet Metal for Industrial Tools & Machinery
    • Sheet Metal for Building & Construction
    • Sheet Metal for Home Appliances
    • Sheet Metal for Other End Uses

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According to Fact.MR, the sheet metal market is expected to be valued at US$ 292 Bn in 2021

The global sheet metal industry is envisaged to account for US$ 496 Bn by 2031. 

Increasing number of infrastructural projects and increasing investments from regional governments are fueling the demand for sheet metals. 

Fact.MR projects North American metal sheet landscape grow at almost 5% CAGR until 2031

Sheet metal demand in South Asia is expected to grow at 5% CAGR through 2031

East Asia is expected to account for over 50% of sheet metal demand from 2021 to 2031

Sheet metal demand in Europe is expected to account for almost 1/4th of the global demand until 2031

Steel sheet metal continues to hold sway, capturing over 50% of global market demand

Building & construction is the dominant sheet metal end use industry, capturing 55% of overall demand

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