Metal Shim Market Size, Share And Trends Report, 2030

Posted 2024-11-19 12:29:05

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Metal Shim Market Growth & Trends

The global metal shim market size is expected to reach USD 232.9 million by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 4.3% over forecast period. Growth in construction, automotive, and aerospace industries are the major growth drivers for the market, where metal shim finds application in alignment and adjustment of critical components.

Based on material, the market is segmented into aluminum, stainless steel, copper, brass, plastic, and others. The usage of copper for developing metal shims is experiencing notable growth worldwide owing to its unique properties that cater to a wide range of industrial applications. Copper is renowned for its excellent electrical and thermal conductivity, as well as corrosion resistance that make it a popular material for developing shims used in industries wherein these properties are critical.

Based on product, the shim stock/sheet segment accounted for the largest revenue share, in 2023 of the global market. Shim stocks act as cost-effective solutions for adjusting gaps, compensating for wear or tolerances, and ensuring proper alignment of components of different types of machinery, equipment, and structural assemblies. Their ability to accommodate fine increments of adjustment helps optimize operational performance, reduce vibration, and extend the service life of critical components in industries such as automotive, aerospace, and construction.

Based on application, the demand for shims in aerospace and defense is driven by advancing aerospace technology, such as the development of next-generation aircraft and spacecraft platforms. These platforms require highly sophisticated engineering solutions to support advanced propulsion systems, avionics integration, and mission-critical functionalities.

Asia Pacific held the largest revenue share of the overall market in 2023 owing to substantial investments in renewable energy and electric vehicle infrastructure, advancements in battery manufacturing technologies, and supportive government policies promoting clean energy. The region's significant demand for consumer electronics and the presence of major battery manufacturers have also contributed to this dominant market position.

The global metal shim market is characterized as considerably competitive due to the presence of regional and multinational players that compete to increase their market share. The key players in the market are investing in product innovations. They are also enhancing their manufacturing capabilities through expansion.

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Metal Shim Market Report Highlights

Based on material, aluminum is expected to register a CAGR of 4.8% over the forecast period. The growth is attributed to growing demand for development of thin yet sturdy shims
Based on product, aluminum is expected to register a CAGR of 4.8% over the forecast period. The growth is attributed to growing demand for development of thin yet sturdy shims
Based on application, automotive held a share of around 26% in 2023 of the global market. Growth in vehicle production is boosting segment growth
Europe held a share of nearly 25% in 2023 of the global market. Rising investments towards renewable energy plants in the region is propelling market growth

Metal Shim Market Segmentation

Grand View Research has segmented the global metal shim market on the basis of material, product, application, and region.

Metal Shim Material Outlook (Revenue, USD Million, 2018 - 2030)