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Bronze Market Size is Expected to Reach USD18.3 Billion by 2027 After Growing at a CAGR of Around 2.4% From 2022 to 2027
HYDERABAD, TELANGANA, INDIA , September 23, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts that the Bronze Market size is expected to reach USD18.3 billion by 2027 after growing at a CAGR of around 2.4% from 2022 to 2027. Bronze is an alloy that is composed of tin and copper. It can also be derived by composing copper with other metals such as zinc, phosphorus, aluminum, manganese, and others. The bronze is used in electrical connectors, clips, springs, sculptures, musical instruments, and others. It is an excellent material choice for explosive and flammable applications as it does not spark against tough surfaces. It also offers high resistance to corrosion, high ductility, and low friction against various metals, thereby making it perfect for applications. The bronze industry is growing due to its various applications in marine, automotive, construction and architecture, aerospace & defense, and others. The bronze market is primarily driven by the increasing demand for bronze for marine, architectural development, aerospace, and electronic sectors due to corrosion resistance properties during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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This IndustryARC report on the Bronze Market highlights the following areas -
1. The bronze market is driven by the increasing application demand for architecture, marine, aerospace & defense, automotive, and other industries during the forecast period.
2. The Asia Pacific is holding a major share and will dominate the bronze market due to the rising aviation sector, automotive growth, and others due to the excellent strength and corrosion resistance properties of bronze.
3. The rising demand for aluminum bronze and phosphor bronze type is anticipated to drive the market owing to its major application in marine, automotive, and aerospace segments during the forecast period.
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1. By grade, the Alloy 954 segment is expected to have the largest share of more than 35% in 2021 and is expected to dominate the bronze market in the coming years.
2. By alloy type, the aluminum bronze segment is expected to have the largest share of more than 40% in 2021 and is expected to dominate the bronze market in the coming years.
3. By application, the marine hardware segment is expected to have a growing share of over 30% in 2021 and is expected to boost the bronze industry in the coming years.
The top 5 players in the Bronze industry are -
1. KME Germany GmbH & Co KG
2. Farmers Copper Ltd
3. Advance Bronze Incorporated
4. PMX Industries
5. Aurubis UK
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