Bronze Market Analysis
Bronze is an alloy made by combination of copper, tin, and often with the addition of other metals (aluminum, manganese, nickel or zinc). There are different bronze alloys depending on the combination of metals. Generally, bronze is made with 88% copper and 12% tin. Additives can also be non-metals such as arsenic, phosphorus, or silicon. It is low in friction, highly ductile, and offers increased fatigue resistance against other metals which make it highly desirable for combination of other metals for its multiple applications. Bronze is preferred in a number of applications including architectural infrastructure, musical instruments, electrical contacts, and machine tools. It is an ideal choice to use around flammable or explosive materials, as striking it against a hard surface does not generate sparks.
COVID-19 Impact analysis
- During the pandemic, the airplane and shipbuilding fabricating plants were temporarily on halt, which has resulted in less consumption of bronze amalgams in these industries, which in turn has adverse impact on the bronze market.
- The automotive industry, which is a major end user for bronze, has witnessed high impact owing to COVID-19. This in turn is expected to hamper the growth of the bronze market.
- The bronze market is expected to witness a slowdown, owing to decline in demand and supply chain disruptions due to the pandemic.
- During the pandemic, the production activity of the musical instruments has been halted where bonze is utilized in various instruments, consumption and demand both simultaneously affected the market.
Top Impacting Factors
Bronze is one of the most versatile metal which provides broad range of properties for a wide selection of alloys and composition. Parts such as gears, battery, breaks, radiator, bearing, and bushing are made with the help of bronze in the automotive industry. This boosts the growth of the bronze market in the upcoming years. However, the degradation of bronze due to oxidization is likely to hamper the development of the global bronze market. The interest for more advance composites is projected to rise which is the opportunity for market to increase product portfolio. Bronze is well-known to be strong and durable, and it does not get dented easily. This makes bronze a perfect material for cymbals, which are percussion instruments. This is expected to drive the growth of the global bronze market.
- In the past few years, there has been an increase in the demand for bronze in the sectors such as pharmaceutical, nuclear application, and marine, which drives the market growth.
- Manufacturers are undergoing mergers & acquisitions to enhance their product portfolio and geographical footprint.
- The interest for metals like bronze is projected to increase in the coming years owing to expanding speculations on assembling plants for instruments.
- Bronze windings around nylon or steel centers are more preferred then some other metals, particularly for lower notes. Thus, these days bronze is broadly utilized in different stringed instruments like the two-fold bass, acoustic guitars, piano, harpsichord, and sitar. Bronze strings are for the most part held on pianoforte for the lower pitch tones, as they offer a better support quality than that of high-tractable steel.
Key Benefits of the Report
- This study presents the analytical depiction of the bronze industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the bronze market share.
- The current market is quantitatively analyzed to highlight the bronze market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bronze market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the bronze Market Report
- Who are the leading market players active in the bronze market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Bronze Market Report Highlights
By Industry Vertical
Key Market Players
Concast Metal Products Co, Materion Corporation, KME Germany GmbH & Co. KG, Advance Bronze Incorporated, , Aviva Metals, PMX Industries, Inc., Wieland Metals, Inc., Farmers Copper Ltd,, Aurubis UK, National Bronze Michigan