Fabricated metal market seen reaching $34.1B by 2031

By AI, Created 6:31 AM UTC, June 03, 2026, /AGP/ – A new Allied Market Research report projects the global fabricated metal market will grow from $21.4 billion in 2021 to $34.1 billion by 2031, driven by steady demand across manufacturing, construction and industrial uses. Asia-Pacific leads the market now and is expected to grow the fastest through 2031.

Why it matters: - The fabricated metal market is on track for steady expansion, with revenue projected to rise 59% from 2021 levels by 2031. - Growth in key end markets such as manufacturing, building and construction, and energy could support broader industrial supply chains. - The report points investors and operators to the fastest-growing product and regional segments.

What happened: - Allied Market Research projected the global fabricated metal market will reach $34.1 billion by 2031. - The market was estimated at $21.4 billion in 2021. - The forecast implies a 4.8% compound annual growth rate from 2022 to 2031. - The report covers metal type, application, end-user and region. - The study was released June 3, 2026. - Get the sample brochure.

The details: - Copper held the largest metal-type share in 2021, accounting for more than half of global fabricated metal revenue. - Copper is projected to keep the lead through 2031. - Steel is expected to post the fastest CAGR among metal types at 5.2%. - Bolts, nuts and screws made up nearly two-sevenths of the market in 2021 and are expected to remain the largest application segment. - Hand tools are projected to grow the fastest among applications at 5.0%. - The report also tracks cans, pipes and pipe fittings, metal doors and windows, and other applications. - Manufacturing led end-user demand in 2021 with around one-fourth of market revenue. - Building and construction is forecast to grow the fastest among end users at 5.3%. - The report also includes energy and power, automotive, aerospace, electrical and electronics, and other end users. - Asia-Pacific held more than three-sevenths of global revenue in 2021. - Asia-Pacific is projected to post the fastest regional CAGR at 5.3%. - North America, Europe and LAMEA are also included in the regional analysis. - The report lists Metals Fabrication Company, Stanley Black & Decker, Illinois Tool Works, United States Steel, Arconic, Levestal, The Federal Group USA, Veriform, Alusite Precision and Klockner Metals Corporation as key players. - See purchase options. - Read the full summary.

Between the lines: - The segment data suggests the market is still anchored by commodity-like metal uses, but growth is concentrating in construction and hand tools. - Asia-Pacific’s lead signals demand is likely tied to industrial activity and infrastructure growth in that region. - Company strategy in the market is centered on partnership, expansion, collaboration and joint ventures.

What’s next: - The report expects the strongest gains to come from steel, hand tools, building and construction, and Asia-Pacific through 2031. - Market participants may use the segment breakdown to target higher-growth revenue pockets and adjust investment plans.