Pune, India, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Bronze Market Overview:
Market Research Future (MRFR) studied the global bronze market 2020 through the review period till 2025. As per MRFR findings, the Bronze Market can rise at 2.46% CAGR to earn revenue of about USD 10,052.8 Mn by 2025. Marine and aerospace industries are high end-user of bronze and related products. The increase in sea trade activities and rise in investment in marine research to explore the unknown require effective solutions abode. This can favor the bronze market. The dynamics of the aviation industry can impact the bronze market.
Intensifying Competition Among Key Players Benefits Global Bronze Market
The introduction of new products with better design and efficacy by companies in different regions can boost competition among key players, thus can benefit the bronze market on a global scale.
MRFR recognizes some reputed enterprises in the worldwide bronze market. They are;
- Aviva Metals (US)
- National Bronze Michigan (US)
- Advance Bronze Incorporated (US)
- Farmers Copper Ltd (US)
- KME Germany GmbH & Co KG (South Africa)
- Materion Corporation (US)
- Wieland Metals, Inc (US)
- PMX Industries, Inc (Japan)
- COMCAST METAL PRODUCTS CO (US)
- Aurubis UK (UK)
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Segmental Analysis:
The global bronze market is studied by process temperature, type, process, and end-use under the segment analysis. Segment-based insights into the bronze market can assist investor to take decision that can yield long-term benefits and short-term advantages to boost their business.
Aluminum Bronze Offers Multiple Applications
The type-based segments of the global bronze market are silicon bronze, aluminum bronze, phosphor bronze, leaded bronze, and manganese bronze among others. The aluminum bronze segment can acquire about 38% share of the global market by 2025. The segment is expected to surge at 2.5% CAGR by 2025. The large-scale utility of aluminum bronze across its multiple end-use industries due to its benefits of high stability, excellent strength, and resistance to corrosion, and less oxidation can favor the market surge.
The manganese bronze segment can secure the second-largest market share by 2025. Manganese bronze has high levels of zinc that offers strength. On the basis of strength and hardness; manganese bronze can be ideal for high load applications and low speed applications. There are several applications of manganese bronzes that includes trunnion bearings, worms, heavily stressed gears, impellers, valve stems, gearshift forks, marine propellers, worm gears, and other extremely stressed parts of a machine.
Casting Process and Open-Die Forging Hold Considerable Preference
The process-based segments of the global bronze market are forging, casting, and extrusion among other processes. The casting segment can hold 74% share of the overall market by 2025. Casting alloy imparts high tolerance to designs with complex parts, and produces intricate design parts with less machining. The process enables design modification for different parts at effective cost. The forging segment can acquire about 30.0% share of the global market by 2025.
The forging process produces the best quality of bronze that aid imparting high mechanical strength, impact strength, shear strength, and wear resistance. The application of high pressure, in forging process, through which feedstock metal materials, such as; copper, tin, nickel, manganese, and others are passed; resulting in their deformation causing grain refinement and metallurgical recrystallization. Style of die and process temperature are two methods used in forging of bronze alloy. Forging method can undergo two process-based on temperature; hot forging and cold forging. The availability of effective industrial base that can support above metallurgy activities can boost the market surge. Open-die forging and close-die forging are other methods that are determined by the type of material required to be forged.
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Rise in Electrical Applications of Bronze Earns Profit
The end-use based segments of the global bronze market are marine, architecture, automotive and transportation, and electrical & electronics among others. Bronze, also known as copper-tin alloys (Cu-Sn alloys), is used in various industries. The upscaling demand for bronze has paved way for further additions to bronze alloys, such as Cu-Sn-Zn alloys (gunmetal), Cu-Si (silicon bronzes), Cu-Sn-P (phosphor bronzes), and Cu-Al (aluminum bronzes) that offer improved hardness and strength. Bronze exhibits superior resistance to corrosion, ammonia stress, cracking over brass and offers ductility, good electricity and heat conduction, and low friction with other metals. These Owing to these factors, they are extensively used. These facilitates several electrical and automobile applications of bronze that can promote the market growth.
Marine Industry Generates Decent Turnover by 2025
The marine industry is one of the high end-consumers of bronze market. The marine segment can earn revenue of about USD 3,000 Mn at around 1.5% CAGR by 2025. Excellent resistance to chemical corrosion, fatigue, wear, and other advantages of bronze, such as high strength, anti-galling, and cold formability are properties that are suitable for shipbuilding. The expansion of the marine sector, along with another consumer, the transportation industry, can cause the bronze market size to escalate.
Asia Pacific Bronze Market to Rise Exponentially
MRFR assessed the global bronze market through Asia Pacific, EU, North America, Middle East and Africa, and Latin America to understand country-based progress of the market. According to MRFR evaluation, Asia Pacific is expected to dominant the global market as it is expected to secure over 40.0% share of the global market by 2025. APAC bronze market is likely to register nearly 3.0% CAGR trough the analysis tenure. After Asia Pacific, Europe is likely to secure the second-highest share of the overall bronze market by 2025. The bronze market in Latin America and MEA can witness moderate rise during the forecast tenure.
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Developments in Aviation Industry Yields Steep Returns
The enormous demand for bronze due to increase in aeronautical applications of aluminum- bronze alloy, across the Asia Pacific region can benefit the market. Japan is a primary provider of engineering materials that can add to the regional bronze market upsurge. In China, both marine and aviation industries are observed to surge at robust growth rate. The increase in utility of bronze and related products in these high end-consumers can support the market expansion in the years to come. The United States, along with EU region, are reputed as the world’s largest region with high commercial air passenger travelling base. Multiple airport construction projects are launched or are under development or in planning stage. Thus, rise in aircraft design activities in these regions can yield steep returns for the market. In addition, growing number of general sea water-related services, and dynamics of petrochemical industries that require certain structural retrofit building applications can favor the market expansion.
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