Sheet metal is manufactured from industrial processes by converting the metal into a thin or flat metal sheet. The sheet metal is easily cut or bent into various sizes and forms to suit the customer’s needs. These sheet metals are used to manufacture several huge pieces of equipment, including pipe and automotive bodies. The incredibly thin sheet metal is also known as foil or leaf. Tin, nickel, copper, steel, aluminium, and brass are just a few metals that can be used to make sheet metal. The market offers sheet metal in various materials, styles, and shapes. “Plate” is another name for metal sheets thicker than 6 mm.
With the growing trend in sheet metal use across many industries, the market for sheet metal has enormous growth potential and a bright future. The majority of sheet metal is used in the construction of motor vehicle bodywork, and rising global automotive production is projected to fuel demand for sheet metal.
The Asia Pacific is one of the key regions offering opportunities for the potential growth of the sheet metal market. The region’s emerging economies, including China and India, are predicted to rise steadily due to rising demand in the automobile industry. Due to their extensive use in the production of trucks and automobile bodywork, metal sheets are highly sought after in the automotive sector.
According to Acumen Research and Consulting, the demand for steel in India is still very robust. It is the second-largest producer of steel in the world and the third-largest consumer of steel. By 2026, the value of the world sheet metal market is anticipated to be $370 billion.
Tritech Industrial Solutions is a company located in Pune which manufactures sheet metal components. It is incorporated by Mahmadagous from Belgaum, Karnataka. The company strives to make a positive experience through its offerings and satisfactorily caters the customer demands.
Mahmadagous was running Tritech Industrial Solutions quite well, but then the need to buy the latest machinery was essential to making high-quality products for his customers. He tried his best to arrange enough funds but faced a lot of difficulties.
Mahmadagous approached several banks for the loan but couldn’t get it. He eventually came to Kinara, applied for a business loan, and received Rs. 3 lakhs within 15 days without submitting any property collateral.
With the money in hand, he could buy a heavy press machine, which had seemed impossible to do before. His profitability grew quickly after adding the new machine, and his turnover went from Rs. 4 lakhs a month to Rs. 6 lakhs a month!
He shares, “Kinara Capital helped us a lot. After getting the loan from Kinara, buying the machine we had been struggling to buy became a breeze. Soon our earnings began to grow, as we could manufacture products more efficiently. Now we are making an additional Rs. 2 lakhs a month, which is incredible! I am very thankful to Kinara for their support.”
The MSME sector, which contributes roughly 30% of the GDP, is seen to be the backbone of the Indian economy. Therefore, it is crucial for MSME owners to have enough funding to run their businesses. They can apply for a business loan to get the working capital they need for a variety of things, including buying new machinery, and equipment, paying employees’ wages or expanding their company.
A systemically registered company in India with RBI registration, Kinara Capital offers MSME business owners collateral-free business loans. As a result, every small business owner will have equitable access to financing in the financially inclusive environment that Kinara envisions. Customers can use the myKinara app from Kinara to check their loan eligibility within a minute and upload their KYC documents on a digitally secured platform. Loans are disbursed in 24 hours, with ticket sizes ranging from INR 1 lakh to INR 30 lakh. With over 75,000 company loans disbursed worth more than INR 3500 crores to support the MSME sector, Kinara Capital offers services in more than 3000 pin codes across 90+ cities. Give our internal customer support team a missed call at 080-68264454 to get further details.