APAC Metal Forging Market Research Report: By Raw Material (Steel, Aluminum, Magnesium, Nickel-Based Alloys, Titanium, Other), By Type (Closed-die Forging, Open-die Forging, Others), By End-use (Automotive, Aerospace & Defense, Aircraft Engine, Others, Power, Building & Construction, Oil & Gas, Metalworking) and By Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC) - Forecast to 2035.

APAC Metal Forging Market Overview

The APAC Metal Forging Market Size was estimated at 40.55 (USD Billion) in 2023. The APAC Metal Forging Industry is expected to grow from 43.75 (USD Billion) in 2024 to 100.43 (USD Billion) by 2035. The APAC Metal Forging Market CAGR (growth rate) is expected to be around 7.846% during the forecast period (2025 - 2035).

Key APAC Metal Forging Market Trends Highlighted

The APAC Metal Forging Market is currently experiencing significant trends driven by various factors. One of the key market drivers is the growing demand from industries such as automotive, aerospace, and construction. These sectors are witnessing rapid growth, particularly in countries like China and India, where urbanization and industrialization are accelerating.

The focus on durable and lightweight materials has led to increased adoption of forged components, enhancing performance and efficiency in manufacturing processes. Additionally, the region's emphasis on improving energy efficiency and reducing carbon footprints supports the adoption of innovative forging technologies.

The APAC Metal Forging Market offers a plethora of opportunities, particularly in emerging economies. The metal forging industry is benefiting from the expansion of manufacturing capabilities in countries such as Vietnam and Indonesia. Metal forgers have substantial growth potential due to the growing investment in infrastructure initiatives and the automotive sector in these countries.

Additionally, operational efficiencies can be further enhanced by the reduction of labor costs and the improvement of precision in the forging processes, which is facilitated by the advancements in automation and robotics. A recent trend in the APAC Metal Forging Market is a transition to sustainable practices and the utilization of advanced materials.

The global movement toward sustainability is being reflected in the increasing interest in regenerative forging techniques and metal recycling. In an effort to optimize their operations and enhance the quality of their products, manufacturers are increasingly turning to digitalization and smart manufacturing solutions.

Collaborations among industry participants are also becoming more prevalent as companies endeavor to capitalize on each other's strengths and expedite innovation in the development of technologies that align with the changing market demands.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Metal Forging Market Drivers

Growth in Automotive Sector

The automotive industry in the Asia-Pacific (APAC) region has been experiencing rapid growth, significantly boosting the demand for metal forging products. For instance, in 2020 alone, vehicle production in APAC reached approximately 28 million units, making it the largest automotive market globally.

This surge is driven by increasing consumer demand, driven largely by rising disposable incomes and urbanization. Major manufacturers such as Toyota and Honda have extensive operations in APAC, further accelerating the need for forged components necessary for vehicle production.

With a projected growth of 10% annually in the automotive sector, the APAC Metal Forging Market Industry is expected to benefit substantially from this trend, as forged components are critical in enhancing vehicle performance and safety.

Infrastructure Development Initiatives

Asia-Pacific governments have heavily invested in infrastructure projects aiming for urban development, which directly enhances the demand for metal forging products. For instance, China's 'Belt and Road Initiative' is projected to create significant infrastructure investments in various APAC countries, potentially exceeding several trillion USD by the end of the decade.

This upsurge in construction activities requires a variety of forged materials necessary for building roads, bridges, and other structures. Organizations like the Asian Development Bank continue to promote such investments, thus encouraging the growth of the APAC Metal Forging Market Industry as these projects increase the demand for quality forged steel.

Technological Advancements in Forging Processes

The APAC Metal Forging Market is expected to see promising growth due to advancements in forging technologies, such as precision forging and die forging. These innovations enhance material utilization and reduce waste, leading to cost-efficient production processes.

From 2020 to 2025, investments in Research and Development (R&D) in the APAC region are projected to increase by over 20%, supported by major players such as Bharat Forge and Hitachi. This emphasis on modernizing forging techniques plays a critical role in meeting quality standards and increasing production efficiency, thus significantly driving the market forward.

APAC Metal Forging Market Segment Insights

Metal Forging Market Raw Material Insights

The Raw Material segment of the APAC Metal Forging Market plays a crucial role in shaping the industry's dynamics and potential growth. This segment comprises a variety of essential materials, including Steel, Aluminum, Magnesium, Nickel-Based Alloys, and Titanium, each playing a distinct role in manufacturing forged products.

Steel remains a dominant force within this segment due to its mechanical properties and versatility, making it a preferred choice across numerous applications in the construction, automotive, and machinery sectors. The demand for Steel is supported by infrastructure development initiatives throughout the APAC region, driven by rapid urbanization and industrialization.

Aluminum has gained traction in recent years due to its lightweight, corrosion-resistant properties, making it highly viable for the aerospace and automotive industries. This growing demand for lightweight materials is coinciding with global trends towards energy efficiency and fuel reduction, which positions Aluminum as a significant player in the market.

On the other hand, Magnesium is being increasingly acknowledged for its applications in lightweight components, further reinforcing the trend toward reducing weight in the transportation and automotive sectors.

Nickel-Based Alloys are often considered essential for applications requiring high corrosion resistance and high-temperature stability, particularly in the oil and gas sector, making them invaluable in several critical industries.

Furthermore, Titanium, known for its unmatched strength-to-weight ratio and biocompatibility, is crucial in aerospace, military, and medical equipment, emphasizing its significance in high-performance applications.

Other materials in this segment, although not as prominent, still contribute to specialized applications across various sectors, showcasing the diversity and adaptability of the Raw Material segment in meeting evolving industrial requirements.

The growth in the APAC region is also attributed to the rising demand for high-performing materials that can withstand rigorous operational conditions. With countries in this region focusing on enhancing their manufacturing capabilities and securing self-sufficiency in raw materials, the Raw Material segment is poised to benefit from ongoing supply chain improvements and technological advancements.

Building sustainable sourcing practices and ensuring a robust supply of these materials will be essential for maintaining a competitive advantage in the APAC Metal Forging Market. As industries within APAC continue to expand and evolve, the Raw Material segment is set to play a pivotal role in driving innovation and growth throughout the sector.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Metal Forging Market Type Insights

The APAC Metal Forging Market demonstrates significant diversity within its Type segment, primarily categorized into Closed-die Forging, Open-die Forging, and Others. Closed-die Forging is recognized for its efficiency in producing complex and precise components, making it the preferred choice in sectors such as automotive and aerospace, where tight tolerances are critical. This method is often highlighted for its ability to improve mechanical properties and reduce material waste.

Open-die Forging, on the other hand, allows for the creation of larger components with enhanced flexibility in design, making it essential for heavy industries, including construction and energy. This type is prevalent in applications that require robust and custom-made shapes. Other processes encompass various specialized forging methods that address niche requirements within the market.

The APAC region's industrial growth, alongside increasing investment in infrastructure projects, significantly drives the demand for these forging types as manufacturers seek to enhance operational efficiencies and material performance. As a result, the APAC Metal Forging Market showcases a dynamic interplay between these forging types, contributing to the industry's overall resilience and growth potential.

Metal Forging Market End-use Insights

The APAC Metal Forging Market is characterized by its diverse End-use applications, which play a crucial role in driving demand and market dynamics. The automotive sector, being one of the most significant contributors, emphasizes the need for lightweight and high-strength components to enhance vehicle performance and fuel efficiency. In the Aerospace and Defense segment, the focus on producing precision parts necessary for safety and durability underscores the importance of high-quality forgings.

Likewise, the Aircraft Engine category demands extreme robustness, making advanced forging techniques essential for operational efficiency. Beyond these, sectors like Power, Building and Construction, and Oil and Gas reflect strong growth potential as infrastructure development and energy demands rise in the region.

The Metalworking sector constitutes a substantial part of the market, contributing to the enhancement of manufacturing processes. Collectively, these segments represent pivotal areas of growth within the APAC Metal Forging Market, driven by technological advancements, sustainability initiatives, and the increasing shift towards efficient production methods.

This growth trajectory is supported by strong industrial activity and investments across the region, paving the way for ongoing developments and innovations.

Metal Forging Market Regional Insights

The APAC Metal Forging Market exhibits a diverse landscape across various countries, with significant contributions from China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, and the Rest of APAC. China stands out as a key player within the region, known for its robust manufacturing capabilities and rapidly growing industrial sector, which drives a considerable portion of market growth.

India also plays a vital role, bolstered by its expanding automotive industry and increasing infrastructure projects, thereby enhancing its demand for forged metal products. Japan maintains a notable position in the market, characterized by its advanced technology and high-quality standards in manufacturing processes.

Meanwhile, South Korea benefits from its strong emphasis on Research and Development initiatives, ensuring innovative products in the forging sector. Countries like Malaysia and Thailand are experiencing rising investments in infrastructure, which contributes positively to the overall demand for metal forging solutions.

Indonesia and the Rest of APAC are expected to experience growth through various industrialization efforts and government initiatives aimed at enhancing manufacturing processes. This regional focus highlights both challenges and opportunities, with trends indicating a shift towards sustainable practices and the use of advanced technologies.

The APAC Metal Forging Market presents a multifaceted environment where each country contributes uniquely to its dynamics, driven by industrial growth and infrastructural advancements, ultimately shaping the future of the industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Metal Forging Market Key Players and Competitive Insights

The APAC Metal Forging Market has been experiencing significant growth driven by an increase in demand for high-strength components across various industries, including automotive, aerospace, and heavy machinery. Competitive dynamics in this sector are influenced by the presence of both established companies and emerging players, each aiming to innovate and meet evolving customer needs.

Factors such as technological advancements, efficient manufacturing processes, and superior product quality have become essential for companies looking to gain a competitive edge in the market. Additionally, regional economic conditions, government regulations, and investments in infrastructure development play crucial roles in shaping market trends, thus presenting opportunities for growth and collaboration among market participants.

Toyo Tire Corporation stands out in the APAC Metal Forging Market due to its robust technological capabilities and its commitment to quality. The company has developed a strong reputation for delivering high-performance forged components primarily used in the automotive sector. Its manufacturing processes leverage advanced technology, ensuring precision and reliability in product delivery.

Moreover, Toyo Tire Corporation has established a significant presence in key APAC markets, which allows for improved distribution channels and faster response times to customer demands. The company's continual investment in research and development fosters innovation, aiding in the development of new forging techniques and materials that enhance its competitive positioning.

On the other hand, China National Offshore Oil Corporation has a well-established footprint in the APAC Metal Forging Market, focusing on the production of critical components needed for the energy sector. The company's operations include forging components that are essential for oil and gas exploration and production.

With an extensive product portfolio that encompasses various sizes and specifications, China National Offshore Oil Corporation caters to a wide range of clients, enhancing its market presence. The company's strengths lie in its ability to leverage synergies from its substantial operational capabilities, enabling it to meet large-scale demands.

Moreover, strategic mergers and acquisitions have bolstered its capacity to innovate and expand offerings in the metal forging segment. By aligning with technological partners and enhancing its supply chain efficiency, China National Offshore Oil Corporation positions itself as a formidable competitor in the APAC market, contributing significantly to the region's industrial landscape.

Key Companies in the APAC Metal Forging Market Include

• Toyo Tire Corporation


• China National Offshore Oil Corporation


• Shaanxi Hande Axle


• Dongyang Guoji Technology


• Hyundai Wia


• Nippon Steel


• JFE Holdings


• Oshkosh Corporation


• Sumitomo Metal Industries


• Yamaha Motor


• Zhejiang Huayuan Group


• Kobe Steel


• Amtek Auto


• Shaanxi Fast Auto Drive Group


• Hitachi Metals

APAC Metal Forging Market Industry Developments

The APAC Metal Forging Market has seen significant developments recently, particularly with the growth strategies of key players such as Toyo Tire Corporation and Hyundai Wia, who are focusing on expanding their manufacturing capacities. China National Offshore Oil Corporation and Shaanxi Hande Axle are also investing in technological advancements to enhance product offerings.

In terms of mergers and acquisitions, noteworthy activity includes Dongyang Guoji Technology acquiring a stake in an undisclosed partner in September 2023 to strengthen its position in metal components for automotive applications. Similarly, Nippon Steel has been actively engaging in partnerships aimed at innovating eco-friendly forging processes, while Kobe Steel has announced expansions to its metal forming facilities in June 2023.

The market has also witnessed a rise in demand driven by the automotive and aerospace sectors, with forecasts indicating an increasing market valuation for these companies. This demand is further supported by government initiatives aiming to boost manufacturing capabilities across APAC, particularly in developing economies.

Events from the last few years, such as the strategic collaboration between Amtek Auto and Zhejiang Huayuan Group in late 2022, reinforce the importance of partnerships in advancing technological prowess in metal forging.

Metal Forging Market Segmentation Insights

Metal Forging Market Raw Material Outlook

• Steel


• Aluminum


• Magnesium


• Nickel-Based Alloys


• Titanium


• Other

Metal Forging Market Type Outlook

• Closed-die Forging


• Open-die Forging


• Others

Metal Forging Market End-use Outlook

• Automotive


• Aerospace & Defense


• Aircraft Engine


• Others


• Power


• Building & Construction


• Oil & Gas


• Metalworking

Metal Forging Market Regional Outlook

• China


• India


• Japan


• South Korea


• Malaysia


• Thailand


• Indonesia


• Rest of APAC

Report Attribute/Metric	Details
Market Size 2023	40.55(USD Billion)
Market Size 2024	43.75(USD Billion)
Market Size 2035	100.43(USD Billion)
Compound Annual Growth Rate (CAGR)	7.846% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Toyo Tire Corporation, China National Offshore Oil Corporation, Shaanxi Hande Axle, Dongyang Guoji Technology, Hyundai Wia, Nippon Steel, JFE Holdings, Oshkosh Corporation, Sumitomo Metal Industries, Yamaha Motor, Zhejiang Huayuan Group, Kobe Steel, Amtek Auto, Shaanxi Fast Auto Drive Group, Hitachi Metals
Segments Covered	Raw Material, Type, End-use, Regional
Key Market Opportunities	Increased automotive production demand, Growth in the aerospace sector, Expansion of renewable energy projects, Rising construction activities, Advancements in automation technology
Key Market Dynamics	increasing automotive demand, rising construction activities, advancements in forging technologies, labor cost fluctuations, stringent quality standards
Countries Covered	China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC