The global braze alloys market size will grow by 994.49 million tons during 2019-2023. This market report provides a detailed analysis of the market by application (automotive, electrical and electronics, aerospace, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many braze alloy manufacturers, including Aimtek Inc., Cupro Alloys Corp., Johnson Matthey Plc, Lucas-Milhaupt Inc., Morgan Advanced Materials Plc, OC Oerlikon Management AG, Prince Izant Co., The Lincoln Electric Co., The VBC Group Ltd., and Umicore.
Key Insights on Braze Alloys Market – Global Forecast 2019-2023
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Industry Overview
Braze alloys find several applications in the automobile and the aerospace industry because of their benefits such as better strength, ductility, toughness, resilience, and robustness. Automotive companies use braze alloys made of stainless steel and nickel to manufacture exhaust gas recirculation systems (EGR). Braze alloys made of copper and aluminum are used to produce various components in vehicles as they are lightweight and offer superior performance. In the aerospace industry, the use of braze alloys made of advanced metals is increasing because of the development of large and high-performance engines for supersonic and hypersonic flights. Braze alloys made of titanium, copper, nickel, and zirconium are widely used in aircraft components that are subject to high temperature and pressure conditions. The increasing applications of braze alloys in the automobile and aerospace industries is one of the key factors driving the growth of the global braze alloys market size.
Moreover, the rise in recycling activities will also influence market growth over the forecast period. Vendors in the market are focusing on achieving environmental sustainability by developing new approaches to manufacture braze alloys. Players operating in the aluminum market are adopting new methods to identify, design, and implement technologies to improve the benefits of aluminum recycling. End-users such as aerospace industry consume braze alloys made of recycled aluminum in large quantities because of its economic benefits. Vendors manufacturing braze alloys of aluminum are adopting process automation and optimization technologies through pre-sorting, shredding, and separation technologies to attain desired characteristics. Such factors will drive the growth of braze alloys market, which will register a CAGR of over 5% during 2019-2023.
Top Companies in Braze Alloys Market
The global market is fragmented. To help clients improve their market positions, this braze alloys market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. The report also includes information on the upcoming braze alloys market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading braze alloy manufacturers, including:
- Aimtek Inc.
- Cupro Alloys Corp.
- Johnson Matthey Plc
- Lucas-Milhaupt Inc.
- Morgan Advanced Materials Plc
- OC Oerlikon Management AG
- Prince Izant Co.
- The Lincoln Electric Co.
- The VBC Group Ltd.
- Umicore
Market Segmentation
Braze Alloys Market by Application
- Automotive
- Electrical and electronics
- Aerospace
- Other applications
The automotive segment held the largest market share in 2018. The growing demand for fuel efficiency is compelling automobile manufacturers to increase the use of braze alloys in their vehicles.
Moreover, the presence of stringent regulatory norms pertaining to emissions has increased the use of aluminum braze alloys in vehicle exhaust systems. As a result, the segment will account for the highest braze alloys market share over the forecast period as well. This report provides an accurate prediction of the contribution of all the segments to the growth of the braze alloys market size.
Braze Alloys Market by Region
- APAC
- Europe
- MEA
- North America
- South America
APAC has a large base of stainless steel braze alloy manufacturers across China, Japan, South Korea, and India. Most of these brazing alloy manufacturers are increasing the use of recyclable stainless steel to achieve cost and energy savings in production. With a complete study of the growth opportunities for companies, it has been identified that APAC will account for the highest braze alloys market share throughout the forecast period.
Major Highlights of the Braze Alloys Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the braze alloys market size during the next five years
- Precise estimation of the global braze alloys market size and its contribution to the parent market
- Accurate braze alloys market forecast on upcoming trends and changes in consumer behavior
- The growth of the braze alloys industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of braze alloy manufacturers
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