The global forged roll market is anticipated to register a high CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing demand for automobiles across the globe.
Forge rolling is a process that simultaneously reduces the cross-sectional area and shape of heated bars, billets, or plates by passing them between two driven rolls. These two rolls rotate in opposite directions that have one or more matching impressions. Forging results in the modification of internal grain of the metals. Under controlled conditions, the heated metal changes to the desired products that have uniform grain size and flow characteristics. This leads to the refinement of the forged metal and reduces its porosity. The final product obtained possesses superior mechanical and metallurgical properties as well as improved directional strength.
Forged parts have improved structural integrity, which ensures optimum performance under field conditions. Forging makes the metal tough, ductile, and capable of withstanding high fatigue. Moreover, it also imparts uniformity to the grain flow.
The report on the global forged roll market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Forged Roll Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Products (Alloy Materials, Stainless Steel, and Others), Applications (Automobiles, Aviation, Machinery & Equipment, and Others) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Kennametal, Lehigh Heavy Forge, Sinosteel, Nippon Steel?Sumitomo Metal, Kay Jay Chill Rolls, Camet Metallurgical Technologies, KS Carbide, Sorbit Valji Doo, and Hitachi |
On the basis of products, the market is divided into alloy materials, stainless steel, and others. The alloy materials segment dominated the market segment in 2020, in terms of revenue. Alloys are the most preferred metals in the close die forging process. This is due to the increasing demand for alloys on account of its strong mechanical properties, ease of processing, low cost, and easy availability. Alloy materials forged parts usually have high strength, hardness, corrosion resistance, and improved weldability and ductility.
In terms of applications, the market is divided into automobiles, aviation, machinery & equipment, and others. The machinery & equipment segment accounted for a substantial amount of the share in the market, in 2021, in terms of revenue. Moreover, this trend is expected to continue during the forecast period. This can be attributed to growing industrialization all around the world, especially in developing countries such as India, China, and Brazil. Conversely, the automobiles segment is anticipated to expand at an impressive growth rate owing to increasing sales of automobiles and rapid growth in the automotive industry due to adoption of latest technologies.
Based on regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a market share of above 50% in 2020 owing to increasing foreign investments in the developing economies such as India and China. On the other hand, most of the economies witnessed a drastic downfall owing to the COVID-19 pandemic in 2020. However, economies in various regions is expected to recover soon
Major players competing in the global forged roll market are Kennametal, Lehigh Heavy Forge, Sinosteel, Nippon Steel&Sumitomo Metal, Kay Jay Chill Rolls, Camet Metallurgical Technologies, KS Carbide, Sorbit Valji Doo, and Hitachi.
Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.
Major players competing in the global forged roll market are Kennametal, Lehigh Heavy Forge, Sinosteel, Nippon Steel&Sumitomo Metal, Kay Jay Chill Rolls, Camet Metallurgical Technologies, KS Carbide, Sorbit Valji Doo, and Hitachi.
Companies are engaging in partnerships, collaborations, and expanding their product offerings to expand their market share.
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