There is a similar process called flow forming or shear spinning, and it's relatively new.
Shear spinning uses a free-turning roller pressing against a rotating workpiece.
Because it thins the stock, shear spinning produces a part with the same diameter as the blank, thus saving material.
BFL's Burton F Lewis believes that shear spinning should be more widely accepted.
In a typical cell, a press blanks out the round workpiece, followed by shear spinning, then perhaps another press operation to punch out holes.
Shear spinning creates a smooth, contoured shape in a single continuous motion that would be almost impossible in conventional presses without expensive multiple-operation tools.
Shear spinning or flow forming thins the metal in direct relation to the steepness of the forming.
In shear spinning, forming results from the highly concentrated pressure at the roller nose.