Fine blanking tools consist of high pressure dies or pads, a stinger or V-ring, and punches which are used for the manufacturing of precision components. The process of fine blanking involves holding a metal surface and punching a hole or cut in the metal. Due to its accurate and effective precision cutting, fine blanking tools are finding widespread adoption in the production of components for various industries such as oil & gas, construction, electronics, aerospace engineering, automobile, and aviation.
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Efficiency and Affordability of Fine Blanking Over Other Methods to Bolster Market Growth
Fine blanking process helps manufacturers achieve shear-edged components with precise dimension tolerance. Stamping using fine blanking dies and pads provides components with lower cracks which ensuring the durability of the components. Due to their precision and accuracy, fine blanking tools are well-suited for the production of high-quality two-dimensional parts. Additionally, manufacturers are finding the use of fine blanking tools for mass production of components highly cost-effective as compared to laser cutting and CNC milling procedures. These factors are estimated to fuel the widespread adoption of these tools and bolster fine blanking tools market growth.
Technology Headways to Aid in Propelling Sales of Fine Blanking Tools
Fine blanking manufacturers are increasingly leveraging advanced numerical models in order to enhance the efficiency, precision, and quality of fine blanking tools. Studies researching the potential use of combining finite element method and artificial neural networks (ANN) to predict the ideal value of numerous parameters such as a die or V-ring height, holder and punch force, and hydrostatic pressure have suggested the technologies can effectively aid in streamlining the design of fine blanking tools. The developments are expected to help fine blanking tools manufacturers in the development of efficient designs which are likely to find widespread adoption across an array of industries.
Additionally, intensifying research towards enhancing the lifetime of the tools under heavy load conditions is further expected to uphold fine blanking tools market growth. For instance, a study used a combination of conventional heat treatment with cryogenic treatment post quenching in the manufacturing of triangular punches with different high alloyed steels. Results from the research suggested that certain combinations of high steel alloys showed better wear resistance than fine blanking tools manufactured using conventional methods.
Burgeoning Demand for Fine Blanking Tools for Electric Vehicle Component Production to Propel Market Proliferation
Extended governmental support coupled with widespread consumer acceptance is creating a surge in the demand for electric vehicles around the world. The increase in the production of electric vehicles is expected to fuel fine blanking tools market growth with the technique offering an affordable and efficient way for the production of complex electric motor components. Further, growing automobile sales are expected to underpin fine blanking tools market growth as it continues to remain the most widely used process for wheel gear production.
Advancements in Additive Manufacturing to Hamper Fine Blanking Tools Market Growth
Additive manufacturing is enabling the production of complex metal components with precise dimensions and accuracy at relatively affordable costs than fine blanking. In addition, the 3D printing technique is aiding manufacturers in substantially reducing the time required for the production of the complex parts and enabling them to manufacture customized metallic components on demand. Due to these factors, end-use industries of fine blanking tools are gradually shifting to using the procedure over fine blanking tools. With the technology expected to evolve and mature in the foreseeable future, sales of fine blanking tools are expected to reduce.
Fine Blanking Tools Market – Competitive Landscape
Other key players operating in the fine blanking tools market are TIDC India, IFB industries, Petford Group, ART Group, Ferrari & Carena s.r.l, Quantum Manufacturing Limited, Kenmode Precision Metal Stamping, and Menear Engineering.
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Fine Blanking Tools Market: Regional Overview
The Asia-Pacific region will occupy majority of the market share in the fine blanking tools market. Growing manufacturing industry and urbanization in China will the main drivers for the fine blanking tools market in the region. North America, being one of the mature markets in the manufacturing industry, will observe a steady growth and moderate market share in fine blanking tools market over the forecast period.
The Europe region will observe a significant growth in the fine blanking tools market due to the growing automobile industry in the region. The Africa region is expected to witness the lowest amount of growth in the fine blanking tools market due to a low presence of manufacturing and automobile industries in the region.
Global Fine Blanking Tools Market: Key Players
Examples of some of the market participants in the global fine blanking tools market identified across the value chain include:
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Fine Blanking Tools: Market Segmentation
On the basis of industry, the global fine blanking tools market has been segmented into:
On the basis of type, the global fine blanking tools market has been segmented into:
On the basis of die, the global fine blanking tools market has been segmented into:
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