Overview
Bronze Market is poise to mature at a CAGR of 2.46% to reach around USD 15.05 Billion by the end of 2028 As per market analysts, the global bronze market is anticipated to witness growth owing to the factors such as increasing use of aluminum and phosphor bronze as well as use of bronze for electrical conduit manufacturing. However, the market will face challenges and restraints due to the degradation of bronze due to oxidation and growing concerns over the use of lead during the forecast period 2021-2028
Growing expansion of end-use sectors in the market is set to play a key role in determining the growth potential during 2021-2028 years. Analysts have also studied the market to understand potential threats and challenges the bronze market companies could face. Although the market is poised to grow at a fast pace across type, end-users, and process segments, factors such as rising concerns regarding the use of lead could slow down the market's growth worldwide.
Market Segmentation
The bronze market has been segmented into type, end-users, and process. Based on the segment which is type, the market is categorized on the basis of aluminum bronze, leaded bronze, manganese bronze, phosphor bronze, silicon bronze, and others. The global market for bronze is further segmented based on end-users into architecture, automotive transportation, electrical electronics, marine, and others. Furthermore, the market, on the basis of process is segmented into bronze casting, bronze extrusion, bronze forging, and others.
The global bronze market research report covers all the aspects of the market based on the segmental analysis of these type, end-users, and process segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The type, end-users, and process segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market-based decision makers as well as primary and secondary sources. The bronze market research report presents analysis-based information for companies functioning in the market.
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Regional Overview
Use of lead may hinder the market growth. The market research report suggests that companies in the market could be supported by expansion of end-use sectors as well as increasing use of bronze for electrical conduit output during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for bronze during the forecast period 2021-2028. As per market analysts, the market is set to witness tremendous growth across type, end-users, and process segments in North America which covers bronze markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the market research report.
The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the bronze market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The bronze market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.
Competitive Landscape
Bronze has seen increased demand over the years, due to growing RD investments and rising demand from the transport sector. Companies functioning in the global silicon bronze is used for manufacturing are also being challenged due to lack of professional workers and stalled bronze foundry activities. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2021-2028. As the bronze market is set to register a high CAGR of 2.46% and is also anticipated to reach a US$10.05 billion by 2025, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2025. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2021-2028.
Industry News
Hunt Valve (Hunts Valve) is today announcing that it has concluded its acquisition of Montreal Bronze Limited, a speciality valve engineering and fabrication firm servicing United States Navies and industrial custodians around the world (MB Valve). Hunt Valve is a US Navy and commercial corporation specialising in valve technology and distribution, supplying consumers worldwide. MB Valve supplies severe-duty maritime bronze valves in Terrebonne, Quebec. The company also has a wide range of unique bronze and steel alloy materials that fulfil special performance standards for Navy ships, biomedical and nuclear uses, in the USA, Canada and NATO.
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