Fabricated metal market seen reaching $34.1B by 2031

Allied Market Research projects the global fabricated metal market will grow from $21.4 billion in 2021 to $34.1 billion by 2031, driven by a 4.8% annual pace. The report breaks out the fastest-growing segments, regional leaders and key players shaping demand across manufacturing, construction and industrial applications.

Why it matters: - The fabricated metal market is set to add $12.7 billion in annual value by 2031, signaling steady demand across industrial supply chains. - The report points to the segments and regions most likely to attract investment, including products tied to manufacturing, construction and infrastructure. - Faster growth in steel, hand tools and building & construction suggests a shift in where suppliers may find the strongest expansion opportunities.

What happened: - Allied Market Research said the global fabricated metal market was valued at $21.4 billion in 2021 and is projected to reach $34.1 billion by 2031. - The market is forecast to grow at a compound annual growth rate of 4.8% from 2022 to 2031. - The report examines the market by metal type, application, end-user and region. - The report also covers top investment pockets, winning strategies, drivers, opportunities, market size estimates, competitive landscape and market trends. - The company published the findings on July 2, 2026. - The report includes a free sample brochure, the full report and purchase options.

The details: - Copper held the largest share by metal type in 2021, taking more than half of global revenue, and is expected to keep that lead by 2031. - Steel is projected to post the fastest CAGR among metal types at 5.2% during the forecast period. - Bolts, nuts and screws accounted for nearly two-sevenths of the market by application in 2021 and are expected to remain the biggest application segment by 2031. - Hand tools are projected to grow the fastest by application, with a CAGR of 5.0%. - Other application segments in the report include cans, pipes and pipe fittings, metal doors and windows, and others. - Manufacturing was the largest end-user segment in 2021, accounting for around one-fourth of revenue. - Building and construction is projected to be the fastest-growing end-user segment, with a CAGR of 5.3%. - The report also analyzes energy and power, automotive, aerospace, electrical and electronics, and other end-user segments. - Asia-Pacific held more than three-sevenths of global revenue in 2021 and is projected to grow fastest at 5.3% from 2022 to 2031. - Other regions covered include North America, Europe and LAMEA. - Key players named in the report include Metals Fabrication Company, Stanley Black & Decker, Illinois Tool Works, United States Steel, Arconic, Levestal, The Federal Group USA, Veriform, Alusite Precision and Klockner Metals.

Between the lines: - The report’s fastest-growing categories cluster around industrial demand, construction activity and basic hardware products. - Asia-Pacific’s lead suggests the strongest growth may remain tied to manufacturing and infrastructure expansion in that region. - The presence of large industrial and tool-making companies points to a market where scale, partnerships and expansion remain central competitive tools.

What's next: - Allied Market Research expects companies to pursue partnerships, expansion, collaboration and joint ventures to strengthen market position. - Investors and market players are likely to use the segment-level breakdown to target the highest-revenue and fastest-growing pockets. - The report frames the next decade as a period of steady growth rather than disruption, with no single segment dominating every category.