Global Bronze Market – Industry Trends and Forecast to 2030

Bronze Market Analysis and Size

It has been witnessed that bronze is widely used in marine and other industrial products such as bearings and bushings due to its corrosion resistance, low metal-on-metal friction, and other properties. "aluminum bronze" is expected to fastest-growing type segment during the forecast period due to its function in extremely corrosive and high-pressure situations. Bronze is preferred in several applications, including electrical contacts, architectural infrastructure, musical instruments, and machine tools. It is the perfect option to use around explosive or flammable materials, as striking it against a hard surface does not generate sparks. As a result of all these factor, bronze market is expected to grow at a significant rate during the forecast period of 2023 to 2030.

Data Bridge Market Research analyses that the bronze market is expected to reach USD 13.17 billion by 2030, which is USD 10.08 billion in 2022, registering a CAGR of 3.40% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Bronze Market Scope and Segmentation

Market Definition

Bronze is an alloy which is consisting copper with about 12 to 12.5% tin and often with the addition of other metals such as nickel, manganese, aluminum, or zinc and sometimes with non-metals, such as phosphorus or metalloids such as silicon or arsenic. Bronze is metal alloy, which means it combines two or more different types of metals. As a raw material, bronze is used in electrical contacts, musical instruments, and ship propellers. It is a very hard and wear-resistant material used for machine and bearings tools.

Global Bronze Market Dynamics

Drivers

• Increasing usage of bronze in the automotive industry

Increasing usage of bronze in the automotive industry is expected to propel the market growth during the forecast period. The automotive industry is associated with wholesaling, production, retailing, and maintaining motor and electric vehicles. Bronze is widely used in the automotive industry for their favorable properties such as superior corrosion resistance, good durability, and improved maintenance. As a result, the market for bronze is driven by the growth of the automotive industry.

• Rising advancements in the manufacturing processes

The rising advancements in the manufacturing processes to offer superior products by numerous companies are also expected to drive the growth of the market. For instance, special heat treatment process to make commercial aluminum bronze helps improve its mechanical properties and further offers high strength to the alloy. These aluminum bronze are used in high deformation military aircraft, abrasion, heavy loads which require extra hardness, high strength, toughness and ductility.

Opportunities

• Growing demand for bronze in the aerospace sector

The growing demand for bronze in the aerospace sector is expected to create lucrative opportunities for the, market growth during the forecast period. Bronze are widely used in aerospace industry because of its wide variety of applications such as production of cargo doors, bearings and bushings in landing gears, wheel and brake components, hydraulic pump components, wing and tail actuators, pylons, and many other demanding applications where corrosion, heavy loads and abrasion are major concerns  for manufacturers in aerospace industry.

• Surging acquisition between major market players to widen the market scope

Furthermore, surging acquisition between major market players will further offer lucrative opportunities for the market growth during the forecast period. For instance, KME acquired TRÉFIMÉTAUX SAS which is a French company that carries out its copper rods and copper tubes businesses at Givet and Niederbrück plants in 2019, for USD 2.2 million. Besides, TRÉFIMÉTAUX SAS controls Serravalle Copper Tubes S.r.l., an Italian company engaged in the manufacturing of copper tubes at Serravalle Scrivia. The annual turnover of TRÉFIMÉTAUX SAS is above USD 240 million. This acquisition will aid KME to strengthen its presence in Europe.

Restraints/ Challenge

• High cost associated with bronze

The major factor that will affect the growth of the bronze market is the high cost of bronze. The cost of the bronze is basically high because it is not easily available, imposing a major issue for the growth of the bronze market. Furthermore, it is more expensive than other metal such as copper and brass. Copper can develop a patina, a green film as a result of long exposure to moist air.

• Degradation of bronze

The degradation of the bronze is very difficult due to the easily oxidisation of bronze in the presence of air after degradation and rapidly deteriorate if exposed to chlorides or sulfides and moisture which will likely obstruct the growth of the global bronze market during the forecast period of 2023 to 2030.

This bronze market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bronze market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2020, The SpaceX Falcon 9 rocket introduced Expedition 64 for its METCOMP project to study how different phases organize in a structure when metal alloys such as bronze are solidified. This development is likely to generate substantial opportunities for the major market players in the global bronze market.
• In 2020, GHS Strings is, an American string manufacturer, launched the latest line of acoustic guitar strings. Thin Core Phosphor Bronze is used in acoustic guitar strings, which is expected to drive the market growth because musical Instruments are one of the major end user products of bronze.

Global Bronze Market Scope

The bronze market is segmented on the basis of type, process, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Aluminum
• Phosphor
• Silicon
• Manganese
• Leaded
• Others

Process

• Casting
• Forging
• Extrusion
• Others

Application

• Architecture Parts
• Musical Instruments
• Industrial Parts
• Transportation Parts
• Others

 End User

• Industrial
• Architecture
• Marine
• Infrastructure and Construction
• Automotive and Transportation
• Aerospace and Defence
• Electrical and Electronics
• Others

Bronze Market Regional Analysis/Insights

The bronze is analyzed and market size insights and trends are provided by country, type, process, application and end user as referenced above.

The countries covered in the bronze market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the bronze market due to this region's highly developed power generation and construction. Moreover, rapid economic growth and increasing population will further boost the market growth in this region.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 because of the increasing elderly population and growing healthcare expenditure. Furthermore, the increasing demand of bronze from the transportation industry because of global trade will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Bronze Market Share Analysis

The bronze market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bronze market.

Some of the major players operating in the bronze market are:

• Wieland Group (U.S.)
• KME GERMANY GMBH (Germany)
• ONCAST METAL PRODUCTS CO. (U.S.)
• National Bronze Manufacturing Co. (U.S.)
• Mitsui Mining & Smelting Co. Ltd. (Japan)
• JX Nippon Mining & Metals Corporation (Japan)
• Aviva Metals (U.S.)
• Lebronze Alloys (France)
• Diehl Metall Stiftung & Co. KG (Germany)
• PMX Industries, Inc. (U.S.)
• Morgan Bronze Products, Inc. (U.S.)
• Govind Metal Co. (India)
• Beckett Bronze Co., Inc. (U.S.)

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