Companies in the metal forming industry create precision metal products using processes such as stamping, spinning, roll forming, slide forming and fabricating. Since these products require special manufacturing processes, the majority of companies in the industry create a limited range of goods. According to industry intelligence firm First Research, there are approximately 55,000 metal forming companies in the U.S. with combined annual revenue of $350.0 billion.
Despite facing supply chain issues and labor shortages, some of the largest companies in the metal forming industry have reported significant improvements in sales thus far in 2021. These gains are primarily due to 2020 sales being negatively impacted by the COVID19 pandemic, the associated facility shutdowns and resulting economic fallout. However, as market conditions improved in 2021, revenue grew strongly.
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