Bronze Market

Bronze Market Size (2023-2028)

The Bronze Market size was close to USD 12.02 billion by revenue at the end of 2022. It is estimated to rise at a current compound annual growth rate of 4.83% to reach USD 14.01 billion by the end of 2028. 

Bronze is one of the most remote metals that is known to mankind. It is elucidated as an alloy derived by cooperating copper with other metals, basically tin. Bronze can also be made by combing copper with metals like zinc, arsenic, phosphorus, aluminum, nickel, and manganese. Bronze is achieved as a golden, firm, and brittle metal. It shows characteristics like high ductility, and low friction against other metals that makes it very much perfect for collaboration with different metals, in a number of applications. Furthermore, bronze is a perfect choice to utilize for flammable or explosive materials, as striking it on a hard surface does not produce sparks. Moreover, it offers excellent resistance to corrosion, and has a greater look than brass, owing to a tinge of red color in it.

Right now, the market is led by tin, as almost all the bronze is made with the employment of tin. The strange composition in bronze utilizing tin is 0.6% to 1% tin, 0.02% to 0.34% phosphorous, and majorly copper, which is also known as phosphor bronze. Tin bronze has excellent strength, excellent durability, excellent fatigue resistance, and less coefficient of friction.

Bronze Market Drivers & Restraints:

The significant factors driving the expansion of the global bronze market are the raising application of aluminum and phosphor bronze in the making of marine hardware like fasteners, valve components, pipe fittings, heat exchangers, oil & gas platforms, desalination plants, and shipbuilding, where resistance to fatigue and chemical corrosion is needed. The rising consumption of bronze to generate electrical conduit is estimated to fuel the expansion of the worldwide market across the world during the foreseen period.

Nevertheless, deterioration of the bronze owing to oxidization is probable to hinder worldwide market expansion, as businesses have now set up the latest R&D facilities to find out better substitutes that could offer good profit margins. Nonetheless, the rising call from the transportation business owing to global business is probable to fuel the call for bronze and create high opportunities for the makers operating in the worldwide market. Escalating calls for bronze from the architectonic, marine, electrical, and automotive industries is predicted to drive the worldwide bronze industry in the foreseen period. The bronze market, especially aluminum and phosphor bronze is estimated to showcase bolstering calls from the growing marine industry for the manufacturing of marine hardware. The escalating popularity of brass for bronze amongst consumers owing to its extreme malleability, ease of casting, pleasing color, and lower cost is predicted to hamper the worldwide bronze industry in the foreseen period. Strict rules against the employment of lead in bronze compositions are probable to restrict the leaded bronze market in the foreseen period

BRONZE MARKET REPORT COVERAGE

Bronze Market segmentation as per the research report until 2028.

Bronze Market - By Type:

• Standard Bronze
• Aluminum Bronze
• Phosphor Bronze
• Silicon Bronze
• Manganese Bronze
• Leaded Bronze
• Others

The aluminum bronze type is predicted to experience a CAGR of over 2.3% throughout the determined time. Aluminum bronze is utilized to make marine sleeve bearings, hardware, and valves that take care of corrosive and acidic solvents. The rising call for bronze goods from industrial and marine end-use businesses, along with the call from automotive and rising aerospace businesses is estimated to propel the expansion of the aluminum bronze sector throughout the foreseen period.

Bronze Market - By Process:               

• Bronze Castings

• Bronze Extrusions

• Bronze Forgings

The bronze casting process led the worldwide bronze industry with an industry of 40% by worth.

Bronze Market - By End User:

• Architecture

• Marine

• Automotive

• Electrical & Electronics

• Others

The marine sector accounted for the highest share of over 35.4% owing to the increasing use of bronze materials across multiple components like valves, fittings, bearing, and others

Bronze Market – By Region

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa

The region of Asia Pacific led the worldwide bronze industry because of the presence of a huge number of making firms in the region, mainly in developing nations like China, India, and the ASEAN countries. Escalating population and quick economic development in the region are augmenting the making business in the region that is probable to augment the bronze industry in the determined time. The Asia Pacific is predicted to develop at a quick rate in the foreseen period. Europe was the second-biggest regional industry as of the year 2019 due to the advancement of the automotive and transportation business in the region together with the rising use of bronze in the electronics business. The regional market is predicted to experience a CAGR of close to 1.2% throughout the foreseen period. Germany is known for a higher market share by country in 2019 and is predicted to showcase the highest CAGR of around 2.1% during the foreseen period.

Some of the key players operating in the global bronze market are

1. Farmers Copper Ltd. (U.S.)

2. Advance Bronze Incorporated (U.S.)

3. Wieland Metals Inc.(U.S.)

4. Lebronze alloys (France)

5. KME Germany GmbH & Co KG (Germany)

6. LDM B.V. (Netherlands)

7. CONCAST METAL PRODUCTS CO. (U.S.)

8. Aviva Metals (US)

9. PMX Industries Inc. (US),

10. Powerway Alloy (China)