Bronze Market Market, Key Player, Analysis, Type and Business Opportunities, Current Trends, Forecast by 2030
Market Scope
Market Research
Future (MRFR) studied the Global
Bronze Market 2022 for the analysis tenure till 2030. As per MRFR study,
the global bronze market is expected to rise at 2.46% CAGR to earn revenue of
around USD 10.05 Bn by 2030.
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Key
Players in Bronze Market
Farmers
Copper Ltd (US), Wieland Metals, Inc (US), KME Germany GmbH & Co KG (South
Africa), Materion Corporation (US), CONCAST METAL PRODUCTS CO (US), Advance
Bronze Incorporated (US), National Bronze Michigan (US), Aviva Metals (US),
Aurubis UK (UK), and PMX Industries, Inc (Japan) are some reputed players in
the global bronze market that are listed by MRFR in the new report.
Drivers
and Restrains Impacting Bronze Market
The rising
demand for bronze in electrical conduit production is expected to favor the
global market of bronze in the near future. The upsurge in the utility of bronze
in the production of marine hardware, such as; pumps and valve parts, fasteners,
pipe fittings, desalination plants, oil and gas platforms, bearings, heat
exchangers, and shipbuilding, for building resistance to fatigue, wear, and
chemical corrosion can support the expansion of bronze market in the near
future. Over the analysis period, the increase in the utility of bronze in
the manufacturing of electrical conduit is anticipated to fuel the growth of
the bronze market on a global scale. The increasing use of bronze for
electrical conduit output is expected to fuel the development of the global
demand worldwide during the forecast period.
Key players are
investing in R&D facilities and surge in foreign trade to meet the
increasing demand of bronze can churn-up high revenue. Moreover, the increase
in the application of bronze in the transport sector is likely to generate
profitable prospects for different suppliers operating worldwide. The rising demand
for bronze in the shipping industry and marketers constantly investing in the expansion
of their distribution network to cater to the evolving needs of multiple
end-use industries can improve the impetus of the market. On the contrary, the degradation
of bronze as it undergoes the process of oxidization can restrain its adoption,
thus restrict the growth of bronze market.
Segmental
Analysis of Bronze Market
The segment
study of the global bronze market is based on end-users, process, and type to
gain insights into market.
The type-based
segments of the bronze market are phosphor bronze, aluminum bronze, leaded
bronze, silicon bronze, and manganese bronze among others. The segment of
aluminum bronze is expected to rise at 2.5 % CAGR in the forecast term as
aluminum bronze is used to the making of pumps, bearings, valves, and hardware
for marine sleeves to treat acidic and corrosive fluids.
The process-based
segments of the bronze market are bronze casting, bronze extrusion, and bronze
forging among others. The segment of bronze casting can lead the global bronze
market with share of more than 40 percent on the conclusion of the analysis
tenure. Bronze casting allows manufacturers to create bronze product of large
shapes and sizes for the intended end-use industry.
The End-Use-based
segments of the bronze market are automotive and transportation, architecture,
marine, and electrical and electronics among others. The upsurge in consumption
of bronze materials in different components, such as; bearings, valves, and
fittings among others can prompt the growth of the marine segment of market.
MRFR findings suggests that the segment is set to earn over USD 3.3 Bn for the
market at 1.5 % CAGR in the review time period.
Regional
Analysis of Bronze Market
Asia Pacific
bronze market is likely to register a healthy CAGR in the review period by
2025. As per MRFR research, APAC market is likely to rise at 2.5 % CAGR by 2030.
The existence of eminent bronze manufacturing industries in the region can
favor the bronze sector countries, such as; ASEAN countries, China, and India. The
region’s increasing population and fast economic process are supply the
region’s producing sector, that successively is anticipated to lift the bronze
demand throughout the forecast period. throughout the projected period, Asia
Pacific is anticipated to grow at a considerable pace. Japan offers the
foremost goodish demand for infrastructure merchandise within the Asia-Pacific.
The expansion of transport and automotive sectors in Europe can bolster the
bronze market growth in the region. The upsurge in demand for bronze
application in the expanding electronics industry can support the bronze rise
in the Asia Pacific region.
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