Bronze Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Bronze Market is Segmented by Derivative (Aluminum Bronze Alloy, Manganese Alloy, Silicon Bronze Alloy, Phosphorus Bronze Alloy, Nickel Bronze Alloy, and Other Derivatives), Application (Architectural Parts, Musical Instruments, Industrial Parts, Transportation Parts, and Other Applications), and Geography (Asia Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Bronze in volume (kilo metric ton) for all the above segments.

Market Snapshot

Bronze Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >3 %

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Market Overview

The global bronze market size is projected to register a CAGR of over 3% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. During the pandemic conditions, 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, which negatively impacts 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 when compared with the same months of 2019, and the international traffic had fallen by 98%, thus, decreased the growth of the aerospace industry, which in turn negatively impacts the market demand for aircraft demand.

  • Over the short term, the growth in marine and aerospace industries across the world is expected to drive market growth.
  • Fluctuations in raw material prices and COVID-19 impact are expected to hamper the market growth during the forecast period.
  • The demand for more strenuous alloys is projected to be an opportunity for the given market during the forecast period.

Scope of the Report

Bronze is a dull gold color alloy that consists mainly of copper along with the addition of different metals or other ingredients. Bronze is mainly used in marine industry products because of its corrosion resistance. It is used to make industrial products, such as bushings and bearings, because of its low metal on metal friction. The bronze market is segmented by derivatives, applications, and geography. By derivative, the market is segmented into an aluminum bronze alloy, manganese alloy, silicon bronze alloy, phosphorus bronze alloy, 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, the 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
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand for Musical Instruments

  • Bronze is well-known to be strong and durable, and it does not get dented easily. This makes bronze a perfect material for cymbals, which are percussion instruments.
  • All the professional cymbals are mostly produced from bronze, which provides the desired balance of durability and timbre. Several types of bronzes are preferred for application in cymbals. Some of the most preferred ones for musical instruments include B20 bronze (i.e., 80% copper and 20% tin), also known as bell bronze, and B8 bronze (i.e., 92% copper and 8% tin). However, companies, such as Meinl, Zildjian, and Paiste, have also been experimenting with different tin-to-copper ratios.
  • Bronze windings around nylon or steel cores offer a much warmer sound than any other metals, especially for lower notes. Due to this, nowadays, bronze is widely used in various stringed instruments such as the double bass, acoustic guitars, piano, harpsichord, and sitar. Bronze strings are generally reserved on pianoforte for the lower pitch tones, as they possess a superior sustain quality to that of high-tensile steel.
  • The other instruments in which bronze finds application includes bells, singing bowls, gongs, and other idiophones. For instance, bronze is used in Tibetan singing bowls, gongs, temple bells of various shapes and sizes, and Javanese gamelan.
  • With the increasing investments in manufacturing plants for musical instruments, the demand for metals, like bronze, is projected to grow in the coming years.
  • For instance, in May 2019, Yamaha Corporation decided to build a musical instrument factory with an investment of about USD 68.79 million by 2022 in Kanchipuram of Tamilnadu, India. In the first phase, the company had decided to manufacture acoustic guitars and other musical instruments. Due to such an investment, it is expected that the demand for bronze may increase from these factories in the coming years.
  • The population of different age groups serves as a customer base for the music instrument industry. The customer base for this industry includes educational institutions, learning children, religious singers, and professional singers. The increasing interest in music, television shows broadcasting singing competitions, and stardom of professional singers have been factors motivating people to learn about music, which has been driving the demand and growth of the musical instrument industry.
  • Therefore, the factors mentioned above are expected to show a significant impact on the market in the coming years.
Bronze Market Share

Asia-Pacific to Dominate the Market

  • Asia Pacific represents the fastest-growing market for bronze globally. This enormous demand for bronze is a consequence of the growing demand for aluminum- bronze alloy and an increase in demand for aerospace and marine industries.
  • According to Boeing's 2019-38 forecasts, China is projected to become the world's largest aviation market in the coming years. In the next two decades, China is likely to get about 8,100 new airplane deliveries, owing to the increasing demand for air travel.
  • In January 2019, the Commercial Aircraft Corporation of China (COMAC) registered more than 1,000 orders for its narrow-body C919, and it is currently developing wide-body aircraft. Furthermore, in March 2019, China gave an order of 300 planes to Airbus, which include - 290 A320-series narrow-body planes and 10 A350 wide-bodies.
  • Then, in July 2019, Air China further ordered 20 more Airbus A350s for long-haul routes, which is likely to be delivered between 2020 and 2022. Due to the investment and new order placements for aircraft, it is expected that the demand for bronze from the aircraft sector is going to be increased in the coming years.
  • The Chinese aerospace industry is one of the leading industries in the country, and the government is heavily investing to increase its domestic manufacturing capabilities. Additionally, the government is planning to construct new airports, while improving the maintenance capacities of the existing airports.
  • The Chinese aviation maintenance, repair, and overhaul (MRO) market is attaining steady progress, owing to the opening of new MRO facilities and the development of aerospace clusters in different parts of the country.
  • Therefore, the factors mentioned above are expected to show a significant impact on the market in the coming years.
Bronze Market Growth Rate By Region

Competitive Landscape

The bronze market is highly fragmented in nature. Some of the key players include Aviva Metals, Diehl Stiftung & Co. KG, BOWAY, NINGBO XINGYE SHENGTAI GROUP CO. LTD, and Farmer’s Copper Ltd, among others.

Recent Developments

  • In March 2019, Hunt Valve Company announced the acquisition of Montreal Bronze Ltd, a manufacturer of bronze valves for marine, pharmaceutical, and nuclear applications. Thus, it led to an increase in the company's product portfolio and enhanced its business.
  • In February 2018, Matthews International Corporation acquired Star Granite & Bronze, a manufacturer of bronze products, thus enhancing the company's product portfolio and its bronze-based business.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapidly Growing Marine and Aerospace Industries Across the World

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Fluctuations in the Prices of Raw Materials

      2. 4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Derivative

      1. 5.1.1 Aluminum Bronze Alloy

      2. 5.1.2 Manganese Alloy

      3. 5.1.3 Silicon Bronze Alloy

      4. 5.1.4 Phosphorus Bronze Alloy

      5. 5.1.5 Nickel Bronze Alloy

      6. 5.1.6 Other Derivatives

    2. 5.2 By Application

      1. 5.2.1 Architectural Parts

      2. 5.2.2 Musical Instruments

      3. 5.2.3 Industrial Parts

      4. 5.2.4 Transportation Parts

      5. 5.2.5 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 Asia Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Advance Bronze Incorporated

      2. 6.4.2 Aviva Metals

      3. 6.4.3 BOWAY

      4. 6.4.4 CONCAST METAL PRODUCTS CO.

      5. 6.4.5 Diehl Stiftung & Co. KG

      6. 6.4.6 Farmer's Copper Ltd

      7. 6.4.7 Hunt Valve Company

      8. 6.4.8 KME GERMANY GMBH

      9. 6.4.9 Lebronze Alloys

      10. 6.4.10 Matthews International Corporation

      11. 6.4.11 National Bronze Manufacturing Co.

      12. 6.4.12 NINGBO XINGYE SHENGTAI GROUP CO,LTD

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Demand for More Strenuous Alloys

**Subject to Availability

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Frequently Asked Questions

The Bronze Market market is studied from 2016 - 2026.

The Bronze Market is growing at a CAGR of >3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Aviva Metals, BOWAY, Farmer's Copper Ltd, Diehl Stiftung & Co. KG, NINGBO XINGYE SHENGTAI GROUP CO. LTD are the major companies operating in Bronze Market.

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