The market size of bronze rods is increasing in a rapid manner throughout the world and it has been reported that the developing countries with their booming market needs the bronze rods due to its huge applications. The developed nations like the UK, Germany, and the U.S. are focusing on the development and making technology of bronze rods and how it can be useful with its applications.
Market Scope and Structure Analysis
Bronze rods are used to join two pieces of metal together during the brazing process, it can be of different size as per the requirement. There are different bronze alloys which depend on the combination of metal; it is generally made with 88% copper and 12% tin.
COVID-19 impact analysis
- COVID-19 pandemic has shut-down large number electrical, electronics, and infrastructure making companies. This has hampered the growth of bronze rods market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of bronze rods in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for bronze rods was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for bronze rods.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key players of boom lifts are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- As, the time is passing by the situation throughout the world is getting better the industries are coming back to its track with growing motivation.
Top Impacting Factors
The growth in the electronics, electrical and construction sector is main reason for the growth of bronze rods market. The rapid growth of the technology in the developing nations of Asia-Pacific is the driving factor for bronze rods market. The government of many developing nations of Latin America, Africa is relaxing the barrier for the foreign investment which led to an impacting factor for bronze rods market. Bronze is one of the most versatile metal which provides broad range of properties for a wide selection of alloys and composition and for those reasons the key vendors are fond of it.
The biggest restraints of the bronze rods market is COVID-19, because of the pandemic the bronze rods market is not growing faster, the workforce are not able to join the sites but in the recent times of 2021 the market is rising as the relaxation has been given for the reopening of the industries.
- The new trend for the bronze rods as per the industrial applications, it is used in marine technology, automotive industries and many more. Bronze can be used to make springs, turbines and blades.
- Essar is the one of the big bronze rods supplier, has came up with a new bronze rod with the thickness of 6mm to 150mm, color - golden. These industrial rods are widely demanded in heavy engineering, aviation, electrical sector. These rods are rust free.
- The key players throughout the different regions of the world are organizing workshops for the workforce education on the use of bronze rods.
Key Benefits of the Report
- This study presents the analytical depiction of the bronze rods market 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 rods market share.
- The current market is quantitatively analyzed to high bronze rods market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides details bronze rods market analysis based on competitive intensity and how the competition will take shape in coming years.
Bronze Rods Market Report Highlights
By Product Type
By Application Type
Key Market Players
Metal Alloys Corporation, NB, Sohan Brass Industries, Morgan Bronze, Mahavir Metal Corporation, Sai Forge Private Limited, Supreme Metals, California Metal & Supply, HUTMEN