Bronze Market - Global Industry Analysis, Size, Share, Growth, Trends

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Bronze is one of the oldest metals known to man. It is defined as an alloy obtained by combining copper with other metals, usually tin. Bronze can also be made by combining copper with metals such as zinc, arsenic, silicon, phosphorus, aluminum, nickel, and manganese. Bronze is obtained as a golden, hard, and brittle metal. It exhibits properties such as high ductility, and low friction against other metals, which makes it highly desirable for combination with various metals, in a number of applications. Moreover, bronze is an ideal choice to use around flammable or explosive materials, as striking it against a hard surface doesn’t generate sparks. Furthermore, it offers high resistance to corrosion, and has a richer look than brass, due to a tinge of red color in it. Bronze is employed in a number of applications such as architectural infrastructure, bearings, musical instruments, electrical contacts, machine tools, and as bronze wool in woodworking. However, bronze is an expensive metal. It develops patina, a green film, as a result of long exposure to moisture. A major drawback of bronze is that it is susceptible to ’Bronze Disease’, which leads to the formation of small, rough, green corrosion spots on bronze due to the combined attack of chlorides and oxygen, in a damp environment. This disease forces the users of bronze to substitute it with the other metals, especially in architectural design applications, as the resulting green spots hamper the overall aesthetics of the architecture.

Based on the metals with which copper is combined to form bronze alloy, the market can be segmented into tin, phosphorus, aluminum, zinc, manganese, arsenic, and silicon. Currently, the market is dominated by tin, as a majority of bronze is manufactured using tin. The typical composition in bronze employing tin is 0.5% to 1% tin, 0.01% to 0.35% phosphorous, and majorly copper. It is also called as phosphor bronze. Tin bronze possesses high strength, high durability, high fatigue resistance, and low coefficient of friction. It is utilized in several applications such as anti-corrosive and electrical components. Tin bronze is anticipated to dominate the bronze market during the forecast period.

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Based on application, the bronze market can be segmented into musical instruments, architectural components, medals, and industrial. The industrial application segment dominates the bronze market, and is anticipated to continue its dominance during the forecast period. Bronze is employed to manufacture various industrial products such as bearings, bushings, bellows, washers, springs, etc. Moreover, demand for industrial products made from bronze is increasing due to the rapidly increasing industrialization and expanding manufacturing sector, especially in Asia Pacific. This, in turn, is fuelling the demand for bronze. The bronze market is anticipated to expand at a significant growth rate during the forecast period.

In terms of geography, the global bronze market can be segregated into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. Asia Pacific dominated the global bronze market due to the presence of a large number of manufacturing industries in the region, especially in developing countries such as China, India, and the ASEAN countries. Rising population and rapid economic development in the region are fuelling the manufacturing industry in the region, which in turn is likely to boost the bronze market during the forecast period. Asia Pacific is anticipated to expand at a significant rate during the forecast period.

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Major players operating in the global bronze market include Lebronze Alloys, Ningbo Xingye Shengtai Group Co., Ltd., Ningbo Boway Alloy Material Co Ltd., Diehl Metall Stiftung & Co. KG, PMX Industries Inc., Wieland Metals Inc., KME Germany GMBH & Co. KG, National Bronze & Metals, Inc., LDM B.V., and Concast Metal Products Co.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

Companies in the Bronze market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.

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