Bronze Market Overview to 2023
Bronze is an alloy primarily consisting of copper and around 12% tin. It is reddish brown in color and its history dated back to 3500 BC. Bronze is widely used since its discovery for making various artifacts & sculpture, armor & weapons, tools, coins & medals, bronze mirrors, traditional building material such as bronze tiles, musical instruments such as bells and singing bowls, ornaments, utensils, and bronze plate among other. The global bronze market is expected to be majorly driven by a wide range of applications in various industry such as architecture, marine, automotive, electrical & electronics, and other industries.
The global bronze market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
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Asia Pacific is expected to be the fastest growing market for bronze owing to its rising population and rapid economic development. Numerous applications in end-user industries such as marine, electrical & electronics, and automotive industry among other are driving the regional bronze market and the market is expected to witness high growth over the forecast period. Asia Pacific is the key region supplying ultra-large ship vessels across the globe due to their superior fuel efficiency, thereby, it is expected to ensure steady revenue source for the bronze market over the forecast period. Strong electrical & electronics industry base in Japan, South Korea, and Taiwan was driving the demand for bronze based electrical & electronics components in 2017 and is expected to continue the same during the forecast period. Additionally, large automobile industry in China is expected to fuel the demand for bronze based automotive components during the forecast period. Easy relaxed norms due to “FDI India” is expected to expand footprints of North American and European manufacturers in the region during the forecast period.
North America and Europe markets are expected to be the major region after Asia Pacific, in terms of market size. Established renovation industry is expected to show bolstering growth for the bronze market due to its wide applications in sculptures & artifacts, shopfronts, claddings, paneling, door fittings, window frames, hinges, tabletops, and drapes for furniture among others. Furthermore, substantial automotive industry in Germany is expected to drive the demand for bronze components for various applications. From the last few years, microelectronics industry in Germany has been witnessing a significant growth for bronze due to growing demand for automotive components.
The Middle East & Africa is expected to witness high demand for bronze mainly from the architecture and marine industry. Ongoing infrastructural projects are undertaken by the government to flourish tourism industry, which is expected to drive substantial demand for bronze in the architecture industry owing to its authentic and rich appearance. Furthermore, marine industry has witnessed a significant growth in the past few years due to export business, growing demand for luxurious yachts, water sports, leisure boats as well as personal submarines, and is expected to show an exponential growth over the forecast period to flourish tourism industry.
Latin America is expected to witness rising demand for bronze during the assessment period. Favorable geography, huge export business, and large investment projects are the major contributor to the growth of the regional marine industry, which is expected to boost the bronze market further over the forecast period.
Market Segmentation
The global bronze market is segmented by type, process, end-use industry, and region.
On the basis of the type, the global bronze market is segmented into standard bronze, aluminum bronze, phosphor bronze, silicon bronze, manganese bronze, leaded bronze, and others.
On the basis of the process, the global bronze market is segmented into bronze castings, bronze extrusions, and bronze forgings.
On the basis of the end-user industry, the global bronze market is segmented into architecture, marine, automotive, electrical & electronics and others.
On the basis of the region, the global bronze is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Competitive Analysis
Some of the key players in the global bronze market are Farmers Copper Ltd. (U.S.), Advance Bronze Incorporated (U.S.), Wieland Metals Inc.(U.S.), Lebronze alloys (France), KME Germany GmbH & Co KG (Germany), LDM B.V. (Netherlands), CONCAST METAL PRODUCTS CO. (U.S.), Aviva Metals (US), PMX Industries Inc. (US), and Powerway Alloy (China).
Intended Audience
- Bronze manufacturers
- Traders and distributors of bronze
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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