Bronze Market Research Report – Forecast 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 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.
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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.
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 (U.S.), PMX Industries Inc. (US), and Powerway Alloy (China).
The 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.
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