Over the years, the metal fabrication industry has been a force to be reckoned with in the global manufacturing sector. Thanks to advancements in technology and changes in market forces, the industry is constantly evolving. Here are some of the major trends gaining prominence in 2018.
1. Overall Industry Growth
The metal fabrication industry is expected to keep growing, not just in 2018 but also in years to come. In terms of the global market for metal fabrication, it was valued at $16 billion in 2015 and estimated to be around $24 billion by 2024.
The metal fabrication industry includes all forms of fabrication, metal forming, metal cutting, tube laser, welding, metal finishing, CNC fabrication and more. Highly recognized organizations in the industry are reporting a substantial growth rate year after year.
Furthermore, industries such as agriculture, defense, and aerospace that depend on metal fabrication are also recording steady growth. With this in mind, the sheet metal fabrication industry has great potential for growth, so long as it is willing to adapt to the ever-increasing trends in the metal fabrication industry.
Today, automation is the golden child in the industrial sector. It has essentially changed the outlook for many industries, including metal fabrication. This process has helped metal shops streamline the process involved in bending and cutting sheet metals, thus reducing the cost of operations and optimizing their operations.
In addition, automation has helped industries cut metals easily and without stress. They no longer require human supervision for longer periods. This, in turn, saves a lot of money for businesses as it reduces human resources costs. With the advancement in robotics technology, automation is one of the trends that metal fabricators are set to embrace.
3. Research and Development
The industry is more competitive than it’s ever been. For this reason, many organizations in the industry will invest a large chunk of their time, money and effort on research and development so as to keep ahead of the highly competitive manufacturing market.
Technological innovations have taken center stage in this modern world and there is no exception in the metal fabrication industry. As a result, organizations looking to stay ahead of the competition will have no other choice than to go above and beyond and increase their spending in research and development.
4. Additive Manufacturing
This is otherwise known as 3D printing. This innovation is believed to bring impressive changes and transformations to the world of manufacturing. For many, 3D printing is considered the future of metal fabrication.
Recently, more metal fabricators are investing significantly in 3D printing technology to simplify the process of creating tools and structures. Now, organizations can create even the most complex designs without facing the common challenges associated with traditional manufacturing processes.
5. Emerging Markets
With the increase in emerging markets, the metal fabrication industry is open to a whole new sector. This expansion into different sectors and markets results in rapid globalization. Most businesses are highly capable of dealing with the new business environment and adapting swiftly to the changes in market conditions.
With the rise of emerging markets, metal fabrication companies have more opportunities to expand their reach and meet the ever-increasing demand for their services.
6. Tube Laser Technology
Gone are the days when manufacturing industries used traditional methods of fabrications. The new tube laser technology enhances their ability to produce more precise cuts, reduce downtime associated with downstream assembly, speed up the fabrication process and save money while improving quality. There are many ways tube laser technology has brought about benefits to the metal fabrication industry.
These trends are expected to gain prominence in the future partly because they’re making the manufacturing process more efficient. They’re also helping manufacturers save time, increase opportunities for customization and reduce wastage.