Market Size of Bronze Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bronze Market Analysis
During the time frame of the forecast, the size of the global bronze market is expected to grow at a CAGR of over 3%.
The market was negatively impacted by COVID-19 in 2020. During the pandemic, the aircraft and shipbuilding manufacturing facilities were temporarily halted during the lockdown, which led to a decrease in the consumption of bronze alloys used in these end-user industries, negatively impacting the market demand for bronze. According to the International Civil Aviation Organization (ICAO), the overall number of passengers had fallen by 92% globally as of April 2020 compared to the same months of 2019. International traffic had fallen by 98%, thus decreasing the growth of the aerospace industry, which in turn negatively impacts the market demand for aircraft. ring the lockdown, which led to a decrease in the consumption of bronze alloys used in these end-user industries, negatively impacting the market demand for bronze. According to the International Civil Aviation Organization (ICAO), the overall number of passengers had fallen by 92% globally as of April 2020 compared to the same months of 2019. International traffic had fallen by 98%, thus decreasing the growth of the aerospace industry, which in turn negatively impacts the market demand for aircraft. However, the industry is expected to recover slowly over the medium term.
- Over the short term, global growth in the marine and aerospace industries is expected to drive market growth.
- During the forecast period, market growth is likely to be slowed down by changes in the prices of raw materials.
- During the forecast period, the market should have a chance to grow because of the demand for stronger alloys.
Bronze Industry Segmentation
Bronze is a dull gold-colored alloy that consists mainly of copper with the addition of different metals or other ingredients. Bronze has several applications beyond the arts and crafts sector, including architecture, transportation, electrical, and electronics. Bronze's strong corrosion resistance, high strength, and good conductivity make the metal desirable for a variety of uses, driving up its demand.
The bronze market is segmented by derivatives, applications, and geography. By derivative, the market is segmented into an aluminum bronze alloy, a manganese alloy, a silicon bronze alloy, a phosphorus bronze alloy, a nickel bronze alloy, and other derivatives. By application, the market is segmented into architectural parts, musical instruments, industrial parts, transportation parts, and other applications. The report also covers the market size and forecasts for the bronze market in 15 countries across major regions. For each segment, market sizing and forecasts have been done based on volume (kilo tons).
| By Derivative | |
| Aluminum Bronze Alloy | |
| Manganese Alloy | |
| Silicon Bronze Alloy | |
| Phosphorus Bronze Alloy | |
| Nickel Bronze Alloy | |
| Other Derivatives |
| By Application | |
| Architectural Parts | |
| Musical Instruments | |
| Industrial Parts | |
| Transportation Parts | |
| Other Applications |
| By Geography | |||||||
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Bronze Market Size Summary
The global bronze market is poised for growth over the forecast period, driven by the recovery of the marine and aerospace industries. The market experienced a downturn due to the COVID-19 pandemic, which temporarily halted manufacturing in key sectors like aerospace and shipbuilding, leading to reduced demand for bronze alloys. However, as these industries rebound, the demand for bronze is expected to increase, supported by its properties of strength and durability. The market's expansion may face challenges from fluctuating raw material prices, but the ongoing demand for stronger alloys presents opportunities for growth. Bronze's versatility in applications, particularly in musical instruments, further bolsters its market potential, with companies exploring various compositions to enhance sound quality.
Asia-Pacific emerges as the fastest-growing region for bronze, fueled by rising demand in the aerospace and marine sectors. China, a leading exporter, is significantly contributing to this growth, with substantial investments in its aerospace industry and infrastructure. The region's expanding customer base for musical instruments, driven by increased interest in music and education, also supports market growth. The bronze market's fragmented nature sees key players like Aviva Metals and Diehl Stiftung & Co. KG actively participating in the industry. Strategic acquisitions and business expansions, such as Fairbanks Morse Defense's acquisition of Hunt Valve Company, highlight the dynamic nature of the market, positioning it for continued development in the coming years.
Bronze Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rapidly Growing Marine and Aerospace Industries Across the World
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Fluctuations in the Prices of Raw Materials
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Derivative
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2.1.1 Aluminum Bronze Alloy
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2.1.2 Manganese Alloy
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2.1.3 Silicon Bronze Alloy
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2.1.4 Phosphorus Bronze Alloy
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2.1.5 Nickel Bronze Alloy
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2.1.6 Other Derivatives
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2.2 By Application
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2.2.1 Architectural Parts
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2.2.2 Musical Instruments
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2.2.3 Industrial Parts
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2.2.4 Transportation Parts
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2.2.5 Other Applications
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Bronze Market Size FAQs
What is the current Bronze Market size?
The Bronze Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Bronze Market?
Aviva Metals, BOWAY, Farmer's Copper Ltd, Diehl Stiftung & Co. KG and NINGBO XINGYE SHENGTAI GROUP CO. LTD are the major companies operating in the Bronze Market.
