Market Research Report
Global Bronze Market Size study, by Type By End User and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||916190|
Delivery time: 2-3 business days
|Global Bronze Market Size study, by Type By End User and Regional Forecasts 2019-2026|
|Published: November 8, 2019||Content info:||
Global Bronze Market to reach USD 11.2 billion by 2026.
Global Bronze Market is valued approximately at USD 9 billion in 2018 and is anticipated to grow with a growth rate of more than 2.8% over the forecast period 2019-2026. Bronze is defined as an alloy that majorly consists of copper and other metals such as tin, zinc, and aluminum. Bronze is used in the construction of musical instruments, sculptures, and medals, and also in industrial applications such as bushings and bearings. Bronze also has nautical applications owing to its resistance to corrosion. The hardness of the alloy allows it to be used in heavy-duty components, mostly in the aerospace industry. The growing demand for bronze from many end users such as marine, automotive, industrial, and aerospace & defense is anticipated to drive the demand for bronze. For instance, Bronze is used in the aerospace industry owing to its lightweight property that improves the performance and endurance of the aircraft. Bronze is used in the manufacturing of wheel & brake components, landing gear bushings, hydraulic components, actuators of aircraft and other aircraft applications. Thus, growth in aerospace & defense sector is boosting the adoption of bronze. For instance, according to the Boeing Market Outlook, aerospace and defense industry is estimated to be valued $8.7 trillion by 2028 from $8.1 trillion in 2018. In addition, technological advancements are expected to create significant growth opportunities in the market over the forecast period. However, growing concern over the use of lead in bronze coupled with lack of skilled labors impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Bronze market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia pacific is the leading/significant region across the world in terms of market share owing to the growth in automotive manufacturing units and assemblies. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as growing marine end user segment, growing consumption of bronze, would create lucrative growth prospects for the Bronze market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: