Bronze Market Research Report Forecast by 2023

Posted by Market Research Future on June 29th, 2018

Market Synopsis

Bronze is an alloy of copper and tin. The proportions of copper in bronze vary widely from 67% to 95%. Some modern bronzes contain no tin at all, substituting other metals such as aluminum, manganese, phosphorus, silicon, arsenic, and zinc. Bronze is reddish brown in color and its history dated back to 3500 BC.  Bronze alloy is hard, ductile, and more fusible metal (i.e., more readily melted), which makes it easier to cast. Many bronze alloys expand a little during solidifying from liquid to a solid state, which is desirable during sculpture casting as it helps to fill a mold. It exhibits brittleness, however, less than cast iron. Striking bronze against a hard surface doesn't generate sparks, unlike steel, which makes bronze useful around flammable or explosive materials. Upon exposure to air, bronze oxidizes and forms an oxide layer on the surface called patina, which consists of copper oxide and it eventually becomes copper carbonate. The oxide layer protects the interior metal from further corrosion. However, if chlorides are present (as from seawater), copper chloride is formed, which can cause "bronze disease" -- a condition in which corrosion works through the metal and destroys it.  Additionally, exposure of chlorides and sulfur makes the patina of pale green and brown color respectively on the bronze.

Through its discovery, bronze has been used 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.

Growing demand for bronze from architectural, marine, electrical & electronics and the automotive industry is expected to drive the global bronze market over the forecast period. Bronze is used in interior and exterior architectural applications such as shopfronts, claddings, paneling, door fittings, railings, church doors, window frames, hinges, tabletops, drapes for furniture, sculptures & artifacts, and fasteners among others. Additionally, bronze market, especially aluminum and phosphor bronze are expected to witness bolstering demand from the growing marine industry for manufacturing of marine hardware such as fasteners, pumps and valve components, pipe fittings, heat exchanger, bearing, oil & gas platforms, and desalination plants, and shipbuilding where resistance to fatigue, wear, and chemical corrosion are required. Furthermore, bronze is used to make electrical conduit, pole line hardware, motor, rotor bars and various other electrical, electronics, and automotive components.

Growing popularity of brass over bronze amongst consumer due to its high malleability, ease of casting, attractive color, and lower cost is expected to hamper the global bronze market over the forecast period. Stringent regulations against the use of lead in bronze compositions are likely to restrict the leaded bronze market over the forecast period 2018-2023.

Market SegmentationThe 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. Aluminum bronze accounted for the largest market share under the type category owing to its wide applications in the marine and architecture industries.

On the basis of the process, the global bronze market is segmented into bronze castings, bronze extrusions, and bronze forgings. The bronze casting is expected to be the most preferred process of bronze fabrication due to its low cost and ease of processing.

On the basis of the end-use industry, the global bronze market is segmented into architecture, marine, automotive, electrical & electronics, and others. The architectural industry is expected to be the largest market for bronze due to high demand from the developed regions such as  North America and Europe for renovation activities.  However, growing marine industry in Asia Pacific, the Middle East & Africa, and Latin America is expected to witness steady demand for bronze and thus expected to emerge as the fastest growing end-use industry over the forecast period 2018-2023.

Regional AnalysisThe global bronze market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to be the largest market for bronze owing to its numerous applications in various end-use industries such as marine, electrical & electronics, and automotive industry.

North America is expected to show steady demand for bronze for architectural application on account of ongoing renovation activities.

 Europe is expected to witness steady demand for bronze from automotive and microelectronics industry. The Middle East & Africa is expected to experience high demand for bronze from the architecture and marine industry on account of the flourishing tourism industry. Latin America is expected to witness rising demand for bronze during the forecast period mainly from the emerging marine industry.

Key Player: Farmers Copper Ltd., Advance Bronze Incorporated, Wieland Metals Inc., Lebronze alloys, KME Germany GmbH & Co KG, LDM B.V., CONCAST METAL PRODUCTS CO., Aviva Metals, PMX Industries Inc., Powerway Alloy

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