Sheet Metal Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Steel, Aluminium), By End-Use (Building & Construction, Automotive & Transportation, Machinery & Equipment, Others) and Region Forecast 2020-2031

Sheet Metal Market size was valued at US$ 325.3 million in 2024 and is expected to reach US$ 451.7 million by 2031, growing at a significant CAGR of 4.8% from 2025-2031. Moreover, the U.S. Sheet Metal Market is projected to grow at 4.6% over the forecast period. The market encompasses the production, processing, and distribution of thin, flat metal sheets used across a wide array of industries, including automotive, construction, aerospace, machinery, and consumer electronics. Typically manufactured from materials such as steel, aluminum, copper, and nickel, sheet metal offers a combination of strength, malleability, and cost-effectiveness, making it a foundational element in both structural and decorative applications. Processes such as cutting, bending, stamping, and welding are commonly used to shape sheet metal into desired components, enabling mass production of lightweight and durable parts.

The market is driven by rapid industrialization, expanding infrastructure projects, and increasing demand for lightweight materials in transportation and renewable energy sectors. Innovations in fabrication technologies such as laser cutting, CNC machining, and additive manufacturing have enhanced production efficiency and precision. Moreover, the rising adoption of sustainable practices, including the use of recyclable metals and energy-efficient manufacturing processes, is reshaping the market landscape and attracting attention from environmentally conscious sectors.

Facts & Figures

• According to Metals Consulting International, flat steel products—including sheet metal—accounted for about 717 million metric tons of global steel demand in 2024, highlighting the importance of sheet metal in overall steel consumption
• In 2024, the automotive sector alone consumed approximately 134 million metric tons of steel—including high-strength and specialty sheet metal—while construction accounted for another 877 million tons, illustrating how sheet metal supports diverse end-user sectors.
• In 2023, total global crude steel production amounted to approximately 1.85 billion metric tons, with China alone contributing around 55–54% of that output. This high volume of flat steel underpins the sheet metal segment used extensively in construction, automotive, and industrial applications.

Key Developments:

• In March 2024, Murata Machinery introduced the MF3048HL, a hybrid machine combining fiber laser cutting with punch press capabilities. This integrated setup eliminates material transfers between machines and minimizes set-up time, offering a seamless one-step operation for complex sheet metal parts.
• In June 2024, Malaysia-based BWYS Group Bhd announced that it would build a new sheet metal plant to expand its sheet metal business. The transaction value is undisclosed. The new plant is currently under construction adjoining the existing facility in Sungai Bakap.
• In April 2023, TRUMPF launched its TruLaser?5030 fiber cutter, delivering a remarkable 45% increase in cutting speed over earlier models while reducing energy consumption by 18%. This high-speed, high-efficiency laser system is reshaping the sheet metal fabrication landscape by significantly enhancing productivity and lowering operational costs.

Sheet Metal Market Segmentation:

Based on the product:

• Steel
• Aluminium

Among the product segments in the market, steel is anticipated to lead as the dominant material, driven by its unmatched strength, durability, and versatility across industrial applications. In recent years, the surge in infrastructure development, automotive manufacturing, and machinery production—particularly in Asia-Pacific and North America—has significantly boosted the demand for steel sheet metal. According to the World Steel Association, global crude steel production reached over 1.8 billion metric tons in 2023, with flat products like steel sheets constituting a substantial portion.

Steel’s ability to withstand high pressure and mechanical stress makes it ideal for applications in construction beams, heavy equipment panels, and structural frameworks. Moreover, advancements in high-strength, low-alloy (HSLA) steel and galvanized steel variants have further expanded its utility in both interior and exterior applications. The trend towards sustainable construction and recycling also supports steel’s dominance, as it remains one of the most recycled materials globally, aligning with circular economy goals.

Based on the end-use:

• Building & Construction
• Automotive & Transportation
• Machinery & Equipment
• Others

Among the end-use segments, the automotive and transportation sector is projected to lead the market, driven by the continuous evolution of vehicle design, lightweight manufacturing demands, and stringent emission regulations. As global automotive production rebounds and electric vehicle (EV) adoption accelerates, manufacturers are increasingly relying on sheet metal—particularly steel and aluminium—for chassis components, body panels, and structural elements. According to the International Organization of Motor Vehicle Manufacturers (OICA), over 85 million vehicles were produced globally in 2023, reflecting growing demand for lightweight yet durable materials.

Sheet metal enables manufacturers to enhance fuel efficiency without compromising safety or structural integrity, a key priority amid tightening regulatory standards. Moreover, the expansion of railway infrastructure and aerospace applications in emerging markets further supports the sector’s dominance. The trend toward smart manufacturing and automation in automotive assembly lines is also fueling the integration of precision-fabricated sheet metal components, reinforcing its pivotal role in the industry's future.