Metal Stamping & Forging in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: April 2024
NAICS 33211CARevenue
$1.8bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
4,182
Businesses
305
Wages
$XXX.Xm
Metal Stamping & Forging in Canada industry analysis
Metal stampers and forgers in Canada have faced considerable volatility in recent years. Elevated metal prices and pandemic-related disruptions caused considerable swings in revenue, with strong demand across market segments helping support industry profit. Industry revenue is estimated to decline at a CAGR of 1.9% to $1.8 billion through the end of 2024, with a forecast decline of 0.7% in the current year as price growth normalizes.
Trends and Insights
- Metal manufacturers are adding value with automation, higher-precision manufacturing, specialty alloy manipulation and tightened quality tolerances. These changes are designed to serve metal markets that prize quality, reliability and value more than sticker price, especially when lives and livelihoods are built on a framework of metal.
- Metal forgers and stampers use a range of production processes, trading off quality for price or ease of manufacturing. As a general rule, using more individual metal pieces lowers costs as purchase and production costs are both lower.
- Proximity to the United States is important as exports account for almost 40.0% of industry revenue. Since the United States represents the largest foreign market, having manufacturing facilities near the border may save on transportation costs.
- Small shops can compete on turnaround time, low minimum order volumes, efficiency or local production. Client businesses care less about sticker costs if a metal product will save employee time or increase safety, so metal shops should focus on quality first and price secondarily.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $1.8bn in 2024.
Trends and Insights
Metal shaping servies experienced considerable volatility in recent years
- Following a difficult year for metalworking operators in 2019, the pandemic weighed on demand for metal stamping and forging products while also disrupting metal shaping activity.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Demand for lightweight vehicle parts expected to rise
- As industries like automotive and aerospace are aggressively seeking lightweight materials to enhance fuel efficiency and reduce emissions, the demand for lightweight forgings and stampings is expected to rise.
Biggest companies in the Metal Stamping & Forging in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Patriot Forge Co. | 61.9 | N/A | N/A | |
Canada Forgings Inc. | 39.9 | N/A | N/A | |
Finkl Steel-Sorel | 39.9 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Nonautomotive stamping, Custom roll-formed products and Powder metallurgy. Nonautomotive stamping is the largest segment of the Metal Stamping & Forging in Canada.
Trends and Insights
Stamped metal products are out ahead
- Stamped metal products, made by pushing, pulling and punching cold metal sheets into a final shape, account for 29.8% of revenue in 2024.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Metal Plating & Treating in Canada
Complementors
- Iron & Steel Manufacturing in Canada
- Aluminum Manufacturing in Canada
- Auto Parts Manufacturing in Canada
- Jewellery Manufacturing in Canada
International industries
- Metal Stamping & Forging in the US
- Non-Ferrous Metal Casting in Australia
- Iron and Steel Forging in Australia
- Non-Ferrous Metal Product Manufacturing in New Zealand
- Iron Casting in the UK
Table of Contents
About this industry
Industry definition
The industry produces stamped and forged metal products. Stamped metal products are shaped under a press, whereas forged metal products are shaped by a localized compressive force. However, this industry does not stamp automotive products, cans or coins.
What's included in this industry?
Manufacturing stamped metal productsManufacturing forged metal productsManufacturing powder metallurgy productsCompanies
Patriot Forge Co.Canada Forgings Inc.Finkl Steel-SorelPurchase this report to view all 4 major companies in this industry.
Related Terms
ORIGINAL EQUIPMENT MANUFACTURER (OEM)METAL STAMPINGMETAL FORGINGIndustry Code
NAICS 33211 - Metal Stamping & Forging in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Metal manufacturers are adding value with automation, higher-precision manufacturing, specialty alloy manipulation and tightened quality tolerances. These changes are designe...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Metal forgers and stampers use a range of production processes, trading off quality for price or ease of manufacturing. As a general rule, using more individual metal pieces ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Proximity to the United States is important as exports account for almost 40.0% of industry revenue. Since the United States represents the largest foreign market, having man...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Small shops can compete on turnaround time, low minimum order volumes, efficiency or local production. Client businesses care less about sticker costs if a metal product will...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Construction demand is crucial for industry operators. Although the industry produces a plethora of different metal products for different markets, the construction market is...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Patriot Forge Co.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Canada Forgings Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Finkl Steel-Sorel's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Patriot Forge Co., and factors influencing its performance in the industry
- Description and key data for Canada Forgings Inc., and factors influencing its performance in the industry
- Description and key data for Finkl Steel-Sorel, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
High-quality metal stamping requires skilled stampers commanding modern presses. Teams must manage machine capital with quality upgrade programs and human capital with approp...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Commanding metal stampers are making strategic investments in technology, while still respecting and training dozens of employees. More automated assembly lines have lowered ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Metal Stamping & Forging industry in Canada in 2024?
The market size of the Metal Stamping & Forging industry in Canada is $1.8bn in 2024.
How many businesses are there in the Metal Stamping & Forging in Canada industry in 2024?
There are 305 businesses in the Metal Stamping & Forging industry in Canada, which has declined at a CAGR of 1.7 % between 2019 and 2024.
Has the Metal Stamping & Forging industry in Canada grown or declined over the past 5 years?
The market size of the Metal Stamping & Forging industry in Canada has been declining at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Metal Stamping & Forging industry in Canada over the next 5 years?
Over the next five years, the Metal Stamping & Forging industry in Canada is expected to decline.
What are the biggest companies in the Metal Stamping & Forging market in Canada?
The biggest companies operating in the Metal Stamping & Forging market in Canada are Patriot Forge Co., Canada Forgings Inc. and Finkl Steel-Sorel
What does the Metal Stamping & Forging in Canada include?
Manufacturing stamped metal products and Manufacturing forged metal products are part of the Metal Stamping & Forging industry.
Which companies have the highest market share in the Metal Stamping & Forging in Canada?
The company holding the most market share in Canada is Patriot Forge Co..
How competitive is the Metal Stamping & Forging industry in Canada?
The level of competition is moderate and increasing in the Metal Stamping & Forging industry in Canada.
