About Forging Billets
Billet, a form of material and forging a part can result in high strength, high-quality units but requires relatively extensive finishing work to remove excess in the manufacturing process. Increasing industrialization and growth of the numerous industry include automotive, steel and manufacturing industry worldwide provides the growth of the forging billets market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.1% |
The competitive landscape of the forging billet market is fragmented, with a number of small and medium-sized players. However, the market is also dominated by a few large players, such as Schmiedewerke Gröditz GmbH, Bharat Forge Limited, and Fushun Special Steel Works. These large players are investing in new technologies, such as near-net-shape forging and additive manufacturing, to maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Forging Billets market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sandvik (Sweden), Ellwood City Forge (United States), UBE STEEL CO., LTD (Japan), Deutsche Nickel (United States), Alcoa Corporation (United States), AMETEK Inc. (United States), Arconic (United States), Emirates Global Aluminium (United Arab Emirates), Hindalco (India) and Matalco Inc. (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Rusal (Russia), Service Center Metals (United States) and Vista Metals (United States).
Segmentation Overview
AMA Research has segmented the market of Global Forging Billets market by Type (Square Billets and Round Billets), Application (Flanges, Discs, Rings, Valves, Forged Parts and Axles) and Region.
On the basis of geography, the market of Forging Billets has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Growth Drivers:
Increasing Usage of Forging Billets in Steel Industry and The Growth in Demand from Emerging Economies
Challenges:
Volatile Nature of Several End-Use Industries and Fluctuations in Prices of Raw Material
Restraints:
High Initial Investment Cost and Lack of Partnerships between Forging Units and Material Producers
Opportunities:
Surging Demand in Automotive Industry in the Asia Pacific Countries and Rapid Pace of Industrialization Across Numerous Emerging Nations
Market Leaders and their expansionary development strategies
In July 2023, Rio Tinto and Giampaolo Group entered into an agreement to form a joint venture to manufacture and market recycled aluminium products. The transaction reflects the joint venture partners’ shared commitment to meeting the increasing demand for low-carbon aluminium as a key material in the energy transition.
In Speil 2024, Global advisory and investment firm Nithia Capital said on Tuesday that it acquired Crest Steel & Power out of bankruptcy for a total consideration. It acquired Crest in partnership with Amalgam Steel Pvt Ltd. Nithia has a majority control in the partnership.
Key Target Audience
Forging Billets Manufacturers, Raw Material Distributors/Suppliers, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.