Bronze Market Trends, Developments, Growth, Opportunity and Forecast 2023 to 2030
The bronze market revenue growth is primarily driven by factors such as increasing popularity of high-temperature resistant metal coating and parts in various industries.
Bronze market growth is driven
by factors such as increased demand in various industries, including
construction, automotive, and art.
During the forecast period, the
global Bronze
market is expected to experience rapid revenue growth due to a surge in
demand for high-temperature resistant metal coating and parts across various
industries. Bronze is an alloy of tin and copper with additional elements added
if required. It is known as a copper alloy with well-defined working properties
and alloying constituents. Lead, manganese, nickel, silicon, zinc, and other
elements can be added to enhance and produce a wide range of grades. Bronze has
a high copper content, which allows the metal to rust in the air, producing a
unique mottled patina. This oxidation also protects Bronze from corroding,
which is particularly important in salty environments. Bronze oxidizes only on
the outer layer when exposed to the surrounding atmosphere. The oxidized
coating on the outside, which is made up of copper oxide, quickly turns into
copper carbonate. This external oxidized layer protects the core metal from
further deterioration. However, chlorine chemicals that react with Bronze can
cause "Bronze sickness," which begins when corrosion breeds
additional corrosion and gradually degrades the alloy over time.
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Bronze Market Segments:
The global Bronze market has been
segmented by type, application/end-use, and region. In terms of type, the
market is divided into aluminum Bronze, phosphor Bronze, silicon Bronze, leaded
tin Bronze, and others. Aluminum Bronze is expected to have a significant
market share due to its excellent corrosion resistance and high strength.
Phosphor Bronze is also anticipated to have substantial growth due to its
widespread use in electrical and electronics industries. Silicon Bronze is
expected to have a moderate market share due to its excellent welding
properties.
In terms of application/end-use,
the market is segmented into industrial, marine, infrastructure and
construction, automotive, electrical and electronics, aerospace and defense,
and others. The infrastructure and construction segment is anticipated to have
the largest market share due to the extensive use of Bronze in the construction
of buildings, bridges, and other infrastructure projects. The marine segment is
expected to have significant growth due to the increasing demand for Bronze in
the manufacturing of propellers, fittings, and submerged marine parts. The
automotive segment is expected to have moderate growth due to the increasing
demand for Bronze in the manufacturing of bearings and other automotive
components.
Bronze Market Strategic Developments:
In recent years, the Bronze market
has seen several strategic developments aimed at enhancing market presence and
expanding product portfolios. Here are some notable strategic developments in
the Bronze market:
- Product
Launches: Many companies in the Bronze market have been focusing on
developing new products to meet the growing demand from various
industries. For instance, in 2020, Concast Metal Products Co. launched a
new Bronze alloy called Alumigold, which has excellent corrosion
resistance and mechanical properties. Similarly, in 2021, Wieland Metals
Inc. introduced a new silicon Bronze alloy, CuSi, which is suitable for
various applications, including marine, architectural, and industrial.
- Mergers and
Acquisitions: Mergers and acquisitions have been a popular strategy in
the Bronze market to expand market share and acquire new technologies. For
example, in 2019, Wieland Group acquired Global Brass and Copper Holdings,
Inc., a leading producer of brass and copper products, including Bronze
alloys. The acquisition helped Wieland Group to expand its product
portfolio and strengthen its position in the North American market.
- Collaborations
and Partnerships: Collaborations and partnerships are also common
strategic developments in the Bronze market. For instance, in 2020,
National Bronze Mfg. Co. partnered with AeroSpace & Defence Industries
Association of Europe (ASD), a leading association for aerospace and
defense companies in Europe. The partnership aimed to provide high-quality
Bronze products to the aerospace and defense industries in Europe.
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Bronze Market Competitive landscape:
The Bronze market is highly
competitive and fragmented, with numerous large and small players operating
globally. Major companies in the market include LeBronze Alloys Group (France),
Diehl Metall Stiftung Co. KG. (Germany), Wieland Metals, Inc. (U.S.), KME
Germany GmbH (Germany), LDM Global (U.S.), Concast Metal, Inc. (U.S.), National
Bronze Mfg. Co. (U.S.), PMX Industries Inc. (U.S.), Ningbo Boway Alloy Material
Co. Ltd. (China), and Ningbo Xingye Shengtai Group (China).
LeBronze Alloys Group,
headquartered in France, is one of the largest producers of copper and Bronze
alloys globally. The company's product portfolio includes continuous castings,
extruded profiles, forged products, finished parts, and flat products. Diehl
Metall Stiftung Co. KG. is a German-based company that produces semi-finished
products made of copper and copper alloys, including brass, Bronze,
nickel-silver, and copper-nickel, among others. The company also offers
advanced surface treatments for its products.
Wieland Metals, Inc., a subsidiary
of Wieland-Werke AG, is a leading supplier of copper and copper alloys
worldwide, providing products for numerous industries, including automotive,
electrical engineering, and construction. KME Germany GmbH is a global supplier
of copper and copper alloy products, specializing in copper and brass tubes,
copper-nickel tubes, copper and brass strips, and special products.
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