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The increase in international trade that contributes to the expansion of the transportation sector will drive various opportunities

Oct 15, 2020 (Market Insight Reports) --

Bronze Market overview:

The bronze market size was close to $ 9.01 billion in revenue at the end of 2020 and is predicted to grow at a CAGR of 2.49% to reach $ 10.59 billion by the end of 2025. Bronze can be made by combining copper with metals such as zinc, arsenic, silicon, phosphorus, aluminum, nickel, and manganese. Additionally, brass is an ideal choice for use around flammable or explosive materials, as striking it against a hard surface does not generate sparks. Bronze is employed in a number of applications such as architectural infrastructure, bearings, musical instruments, electrical contacts, machine tools, and as bronze wool in carpentry. The escalating application of bronze in the aerospace industry is playing a vital role in the expansion of the worldwide bronze market. Bronze is very applicable in the aerospace industry due to its lightness, which improves the performance and resistance of the aircraft. Additionally, advances in manufacturing processes to deliver high-quality products by various companies are also predicted to drive expansion in the bronze market. For example, a special heat treatment process to produce commercial aluminum bronze helps improve its mechanical properties, which provides additional high strength to the alloy.

Impact of Covid 19 on the Bronze Market:

Since our first webinar on the impacts of metals markets on COVID-19 in April, lockdown measures put in place to slow the spread of COVID-19 have decreased around the world. This reopening, combined with significant monetary and fiscal stimulus from central banks and governments around the world, allowed industrial metal prices to rebound from first-quarter lows, with the hope that call for metals will begin. to recover. Nonetheless, the possibility of a second wave of COVID-19 infection as lockdowns ease remains a significant downside risk to prices for the remainder of the year, despite local shocks on the side of the offer that could provide some price support for particular products.

Bronze Market drivers and restraints:

The growing applications of aluminum bronze from developing economies, the expansion of the transportation industry around the world, the escalating uses of bronze in architectural infrastructure, electrical contracts, machine tools, musical instruments and others are some of the factors that can improve the expansion of bronze market in the foreseen period 2020-2025. On the other hand, the increase in international trade that contributes to the expansion of the transportation sector will drive various opportunities that will lead to the expansion of the bronze market during the foreseen period mentioned above. Commodity price volatility that will hamper bronze market expansion during the foreseen period mentioned above. Escalating consumption of bronze to produce electrical conduit is predicted to drive worldwide market expansion around the world during the foreseen period. However, the deterioration of bronze due to oxidation is likely to hamper the expansion of the world market as companies have established new R&D facilities to explore better alternatives that could provide better profit margins. However, escalating call from the transportation industry due to worldwide trade is likely to stimulate call for bronze and create lucrative opportunities for manufacturers operating in the world market.

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Report segmented as:

By type:

  • Aluminum
  • Phosphor
  • Silicon
  • Leaded tin
  • Others

By end user:

  • Industrial
  • Marine
  • Infrastructure & construction
  • Automotive
  • Electrical & electronics
  • Aerospace & defense
  • Others

Geographical analysis:

Asia-Pacific has led the worldwide bronze industry owing to the presence of a huge number of manufacturing businesses in the region, mainly in the developing nations. The region’s population expansion and rapid economic development are driving the region’s manufacturing industry, which in turn is likely to drive the bronze market during the foreseen period. Asia-Pacific is predicted to develop at a significant rate during the foreseen period. Asia-Pacific dominates the bronze market due to the escalating expansion of the shipbuilding and automotive industries. The Europe region is predicted to record the highest expansion rate due to the escalating applications of bronze in the electronics industry.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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