The Global "Bronze Market" is expected to grow at a CAGR of 3% during the forecasting period (2022-2029).
Bronze is an alloy that consists primarily of copper with the addition of other ingredients. In most cases, the ingredient added is typically tin, but arsenic, phosphorus, aluminum, manganese, and silicon can also produce different properties in the material. All of these ingredients produce an alloy much harder than copper alone. Its dull-gold color characterizes bronze. Based on type, the market is classified into phosphorus, silicon, nickel, Aluminium, etc. Others include manganese and leaded tin.
The rapid growth of aerospace and marine industries is the major driving factor for market growth. The aerospace industry is excellent. It comprises companies producing military aircraft, commercial aircraft, guided missiles, space vehicles, aircraft engines, aircraft overhaul, rebuilding, and conversion. Bronze bearings solve maintenance issues, improve performance, reduce weight, and increase life. The extreme environments of deserts and the humid tropics do not hinder the performance of bronze. Companies in the aerospace industry are manufacturing bronze for many years. For instance, National Bronze Mfg. has been manufacturing Aerospace and Military components for many years. They are the largest suppliers of bronze alloy-based components in the USA.
The Bronze market is segmented into automotive, electrical & electronics, marine, industrial, musical instruments, and others by the end-user. The global Bronze market size by end-user was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Bronze is the preferred metal for bells in a high tin bronze alloy known colloquially as bell metal, which is about 23% tin. Nearly all professional cymbals are made from bronze, which gives a desirable balance of durability and timbre. Several types of bronze are used, commonly B20 bronze, which is roughly 20% tin, 80% copper, with traces of silver, or the tougher B8 bronze, which is made from 8% tin and 92% copper. As the tin content in a bell or cymbal rises, the timbre drops.
The market is classified into phosphorus, silicon, nickel, aluminum, and others based on type. Others include manganese and leaded tin. The global Bronze market size by type was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Phosphor Bronzes, or tin bronzes, are alloys containing copper, tin and phosphorous. The phosphor bronzes contain between 0.5 and 11% tin and 0.01 to 0.35 % phosphorous. The addition of tin increases the corrosion resistance and strength of the alloy. The phosphorous increases the wear resistance and stiffness of the alloy. Companies are introducing new products in the market. For instance, in July 2019, Gibson has introduced a new line of strings for acoustic guitarists, their Coated Phosphor Bronze set, the latest addition to their Factory Spec String Collection.
The Asia Pacific bronze market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. The Asia Pacific is expected to grab a major share in the forecast period owing to the rising demand from different end-users. The marine segment is estimated to grow with a high CAGR rate in the estimated period. Key shipbuilding industrialists exist in Japan, China, and South Korea, due to the enormous growing chances accessible by these countries, which acts as an impacting factor for the market growth. Companies from China and Japan are looking at establishing more joint ventures in the marine industry. For instance, in June 2019, Yangzijiang Shipbuilding and Mitsui E&S and Mitsui & Co. jointly announced that the cooperation between these companies would soon commence operations on the outskirts.
The Bronze market report would provide access to 53 tables, 47 figures and 170 pages.
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