“Bronze market is projected to reach USD 10.08 billion by 2022.”
The bronze market was valued at USD 8.76 billion in 2017 and is projected to reach USD 10.08 billion by 2022, at a CAGR of 2.8% between 2017 and 2022. Factors such as high corrosion resistance properties and growing demand from marine and automotive industries are driving the bronze market. The rising demand for bronze from Europe and Asia Pacific is also expected to drive the market. The major restraint in the growth of the bronze market is regulations on the use of lead in bronze products.
“Based on type, the aluminum bronze segment is expected to witness the highest growth from 2017 to 2022.”
Based on type, the aluminum bronze segment is expected to witness the highest growth during the forecast period, owing to its intrinsic properties such as high corrosion resistance and strength. Aluminum bronze is an important engineering material and is widely used in different end-use industries such as marine, aerospace, and industrial. It is designed to be used in extreme environments such as marine and underwater applications, and in the manufacturing of components that are used in seawater systems, oil & gas platforms, and desalination plants. The growing demand for aluminum bronze from different end users is one of the main factors fueling the growth of the global bronze market.
“Industrial is projected to be the largest end user segment of the bronze market.”
Based on end user, the bronze market has been segmented into industrial, marine, infrastructure & construction, automotive, electrical & electronics, aerospace & defense, and others. Industrial is projected to be the largest end user segment, owing to the increasing use of bronze-based products in industrial engineering and manufacturing plants. Bronze has excellent tensile strength, ductility, weldability, and resistance to fatigue and wear, which increase its suitability for industrial engineering. It is used to manufacture bearings, valve components, high strength clamps, bushings, and wearplate. The rising use of bronze in various applications is fueling the growth of the bronze market.
“Asia Pacific is expected to be the largest market for bronze during the forecast period.”
Asia Pacific is projected to lead the bronze market from 2017 and 2022. This region is a major market for bronze, which is in demand from various end users such as industrial, marine, infrastructure & construction, automotive, electrical & electronics, aerospace & defense, etc. The demand for bronze is increasing in various countries of the Asia Pacific region such as India, Japan, and South Korea.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 – 12%, Tier 2 – 38%, and Tier 3 – 50%
- By Designation: C Level – 25%, Director Level – 12%, and Others – 63%
- By Region: Europe – 17%, Asia Pacific – 25%, North America – 25%, and RoW –33%
Major companies profiled in this report include Lebronze Alloys (France), Diehl Metall Stiftung & Co. KG (Germany), Wieland Metals Inc. (US), KME Germany GMBH & Co. KG (Germany), LDM B.V. (Netherlands), Concast Metal Products Co. (US), National Bronze & Metals, Inc. (US), PMX Industries Inc. (US), Ningbo Boway Alloy Material Co Ltd (China), Ningbo Xingye Shengtai Group Co., Ltd (China), etc.
This report offers an overview of market trends, drivers, and challenges with respect to the bronze market. It also provides a detailed overview of the market across five regions, namely, Asia Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the bronze market based on type, end user, and region. A detailed analysis of leading players, along with key growth strategies adopted by them has also been covered in the report.
Reasons To Buy the report
This report covers the following key aspects:
- What will be the market size by 2022 and what will be the growth rate?
- What are the key market trends?
- What are the factors that are expected to drive the growth of the market?
- What are the challenges that impact market growth?
- Who are the key players in the market?
- The global report covers key regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America including major countries in these regions such as the US, China, India, Germany, and Brazil.