Metal Casing Market Size, Share & Trends Analysis Report By Product (Stamping & MIM, Die Casting, Extrusion), By Application (Mobile Phones, Tablet, Wearable Devices), By Region, And Segment Forecasts, 2020 - 2027
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Metal Casing Market Size, Share & Trends Analysis Report By Product, By Application, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05999601/?utm_source=GNW
Metal Casing Market Growth & Trends
The global metal casing market size is expected to reach USD 47.39 billion by 2027. It is expected to expand at a CAGR of 3.2% from 2020 to 2027. Growing preference for the metal body in smartphones, laptops, and notebooks is anticipated to propel market growth over the forecast period.
Metal casing is referred to as an external component used in several products, such as phone, tablet, laptop, and notebook. It is produced by various technologies, including stamping, metal injection molding (MIM), die casting, and extrusion using materials, such as magnesium, aluminum, titanium alloys, and stainless steel.
Aluminum and magnesium alloys are mainly used for metal casing.Factors including rigidity, durability, stylish appeal, ease of manufacturing, and good heat conduction have boosted the product demand.
Although metals and plastics come at a similar price range, the cost of metal processing is higher, which makes the overall metal casing expensive, giving the end product a premium appeal.
Mobile phones, tablets, movable power sources, notebooks and laptops, and wearable devices are the key application segments of the global market.All metal designs have witnessed high penetration in the overall casing market.
With the introduction of smart devices, metal casing witnessed an upsurge in demand. The COVID-19 pandemic augmented the growth of the PC industry as demand for notebooks and laptops witnessed a boost in sectors, such as IT, banks, BPOs, and education.
Companies have reported positive growth in sales of their laptops and notebooks during the pandemic. For example, The Hewlett-Packard Company (HP), a renowned IT company, reported its third-quarter sales in August 2020, where its net revenue for notebooks was USD 7,304 million for the period of April-July 2020, which is 30% higher on a yearly basis and 44% higher on a quarterly basis.
Mobile phones emerged as the largest application segment in 2019 and are expected to maintain their lead over the forecast period.Although an increase in smartphone sales is a growth driver for the market, the market is expected to witness slight obstruction from its alternative glass casing.
The emergence of wireless charging feature has propelled the demand for glass back instead of metal in smartphones. As a result, the rise in the production of glass phones is likely to impact the sales of metal casing in the future.
The U.S. is a prominent market for metal casing and is known for its IT industry. The pandemic has surged the demand for laptops in the country, which is a positive sign for market growth. With schools resuming their normal operations in the country, the demand for laptops has witnessed a sudden surge. Key players such as Lenovo, HP, and Dell have informed school districts about the shortage of nearly 5 million laptops, which signifies a higher demand and is anticipated to encourage manufacturers to speed up their manufacturing activities that will propel the demand for metal casings in the country.
The market is competitive and manufacturing is mainly concentrated in China and Taiwan.In order to maintain a hold on the overall market, certain players are integrated across various stages of the value chain.
For example, BYD is known to be one of the most technologically advanced sellers of electric solutions.The company offers vertically integrated services from R&D to manufacturing throughout the supply chain.
Its Central Research Institute is dedicated to extensive technical research for metals and other materials. In addition, it offers design development, precision manufacturing, testing & certification, along with intelligent supply chain services.
Metal Casing Market Report Highlights
• North America is expected to witness significant growth over the forecast period on account of the rising focus on manufacturing in the region and growing demand for movable power sources and laptops
• Based on product, stamping and MIM held the largest share of more than 88.0% in 2019 on account of their benefits, such as low cost, enhanced properties, and reduced wastage
• By application, the others segment that includes notebooks and laptops is expected to register the fastest CAGR of 3.8% during the forecast period due to a surge in demand for laptops and notebooks in various sectors, especially education
• Asia Pacific held the largest share of more than 56.0% in 2019 as the region is a manufacturing hub with the presence of manufacturing facilities of renowned brands, such as Apple Inc.; Samsung; Sony; Google Pixel; and ASUS
Read the full report: https://www.reportlinker.com/p05999601/?utm_source=GNW
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