According to IMARC Group latest report titled” Metal Forging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global metal forging market to grow at a CAGR of around 5% during the forecast period (2021-2026).
Market Trends & Drivers:
Metal forging refers to the process of shaping and forming various metals by hammering or pressing. The compressive force is applied for deforming and making geometrical changes to the material. Compared to other metal-producing processes, forging makes some of the strongest parts. The hot method of metal forging breaks up impurities and removes inclusions that can cause stress points. As a result, metal forging is utilized for manufacturing essential aircraft parts, such as shafts for turbines and jet engines, structural components for transportation equipment, and landing gear.
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Significant growth in the aerospace industry, where ferrous and nonferrous forgings are utilized in piston-engine planes, helicopters, supersonic military aircraft, and commercial jets, is primarily driving the market growth. Furthermore, the expanding applications of forged components at stress and shock points in trucks and other automobiles are also propelling the market growth. Besides this, several leading players are focusing on increasing their production capacities to reach a broader consumer base and ensure optimal quality, which in turn is acting as another growth-inducing factor. Moreover, the metal forging process finds widespread applications in the steel industry, which is further expected to augment the market growth in the coming years.
Key players Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Arconic Corp.
- ATI
- Bharat Forge Ltd.
- Bruck GmbH
- China First Heavy Industries
- Ellwood Group Inc.
- Jiangyin Hengrun Heavy Industries Co. Ltd.
- Nippon Steel Corp.
- Precision Castparts Corp.
- Kovárna Viva
- Larsen & Toubro Limited
- Scot Forge
- Thyssenkrupp AG
Metal Forging Market Segmentation:
Our report has categorized the market based on Region, Raw Material and Application.
Market Breakup by Raw Material:
- Carbon Steel
- Alloy Steel
- Aluminum
- Magnesium
- Stainless Steel
- Titanium
- Others
Market Breakup by Application:
- Automotive
- Aerospace
- Oil and Gas
- Construction
- Agriculture
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Qatar, Others)
- Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru, Others)
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The Global Metal Forging Market research study takes a comprehensive approach towards studying the key trends influencing the growth of this sector.
The report comprises data that offers an in-depth insight into the business sector.
A detailed outline of the Metal Forging market size is offered in the report with respect to the valuation and volume along with the market dynamics and scenario.
The report evaluates the current market scenario along with the impact of the COVID-19 pandemic on the present and future scenarios.
Request a sample of the Metal Forging Market report @ https://www.reportsanddata.com/sample-enquiry-form/3016 The study offers valuable insights into the regional landscape of industry verticals, coupled with the established companies that have gained a substantial position in the industry.Summary of the Global Metal Forging Market:The report offers an in-depth analysis of the regional landscapeA comprehensive overview of the competitive landscapeA detailed outline of the market segmentationDetailed Analysis of the Regional Segmentation:The report analyses the regional market of this industry through extensive study.
The report includes valuable insights pertaining to the industry shares and market position as per the market share occupied by these geographies.
The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
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Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
Metal Forging Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The metal forging market is vast, with many local and global players.
the key leaders follow different strategies to improve their market position, such as contracts, mergers, contracts, extending product portfolio, acquisitions, expansions, and product innovations to improve their market share globally.
for instance, in September 2020, Fushun Special Steel Co., Ltd., a steel-production and forging company, placed an order to Siempelkamp technology.
The order is for a new 60/70 MN open-die forging press with a four-column push-down design.
