Global Braze Alloys Market was valued at US$ 3.65 Bn in 2019 and is expected to reach US$ 6.08 Bn by 2027, at a CAGR of 6.6 % during a forecast period.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding braze alloys market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in braze alloys market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Brazing is a process that combines two or more metals by melting them and flowing another metal in the joint, called as filler metal, which has lower melting point as compared to the adjoining metals. The filler metal widely used in the brazing process is known as braze alloy. The melting temperature of a braze alloy should usually be higher than 450°C, but should not more than the melting temperature of the base metal. Braze alloy melts at its melting point and distributes itself between the work pieces due to the capillary action. Braze alloys can be seen in a number of forms such as tapes, foils and braze wires, rods paste, and powder.
Braze alloys market is anticipated to witness moderate growth during the forecast timeframe. This progress in demand for braze alloys is likely to be affected by the growing adoption of brazing process over processes like welding and soldering for bonding metal pieces across a large number of industrial applications.
Some of the drivers involved in the use of brazing processes are the comparative cost-effectiveness of the process coupled with the fact that dissimilar metals can be joined together by means of brazing. Additionally, metal bonding by brazing includes relatively faster cycles and lesser scrap generation. Therefore, the above-mentioned drivers offered by brazing process are expected to result in a steady growth of global braze alloys market during the forecast timeframe. Nevertheless, the volatile prices of the base metals are expected to act as an impediment to the growth of global braze alloys market during the forecast period.
Volatility in prices of crude materials for the process used in the manufacture of braze alloys is the major restraining factor for the braze alloys market. Moreover, due to the lack of capacity and sluggish in manufacturing activities, the supply of the material for the process has decreased. Copper is the Base Metal used in the manufacture of copper-based alloys. Therefore, fluctuating in process of copper is estimated to adversely affect the cost of Base Metals, this in turn, projected to affect the operations of the manufacturers.
Based on Metal Type, the market has been segmented into copper, silver, gold, aluminum, nickel and others. Copper-based alloys are widely used for brazing alloys and carbon steels, copper-nickel, and stainless steel. These alloys are thermal and electrical conductivity and have high corrosion resistance. The copper segment holds a huge CAGR in terms of value and volume during the forecast period and the segment is expected to dominance during the forecast timeframe.
In terms of end-use industry, the market is segmented into electronics and electrical, automotive, industrial, and others. The Automotive industry is anticipated to dominate the braze alloys market, due to the huge application of brazing in evaporator and condenser connections for air-conditioning systems, brake linings, and fuel injection pipes. This end-user industry is also anticipated to grow at the fastest rate, due to growing investments for automotive manufacturing in the Asia-Pacific region.
Based on region, the global braze alloys market has been classified into North America, Asia Pacific, Europe, South America, and Middle East & Africa. Asia Pacific is estimated to lead the global market during the forecast timeframe, primarily owing to the expansion in industries that employ braze alloys in the region, particularly in developing countries such as India and China. The market in Asia Pacific is expected to expand at a substantial pace during the forecast period, followed by that in North America and Europe. The growth of braze alloys market in North America and Europe is moderate. Therefore, it is projected to enlarge at a sluggish pace during the forecast period. The U.S. is expected to constitute prominent share of the braze alloys market in North America in the forecast period.
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The Scope of Global Braze Alloys Market: Inquire before buying
Global Braze Alloys Market, by Base Metal:
Global Braze Alloys Market, by End Use:
• Electronics and Electrical
Global Braze Alloys Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating in Global Braze Alloys Market:
• Johnson Matthey
• Voestalpine Bohler Welding
• Oerlikon Metco
• UMICORE N.V.
• Morgan Advanced Materials
• Indian Solder and Braze Alloys
• Paras Enterprise
• Lucas-Milhaupt Inc.
• Aimtek, Inc.
• Harris Products Group,
• VBC Group.
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