Bronze Market Size
| 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 Market Trends
This section covers the major market trends shaping the Bronze Market according to our research experts:
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 bronze 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 metal, 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. Because they have a better sustain quality than high-tensile steel strings, bronze strings are typically reserved for lower-pitched tones on the pianoforte.
- Musical instrument strings, especially those for acoustic and classical guitars, are frequently made from bronze. The tone, projection, and durability of bronze strings are legendary. Consumer tastes, musical fashions, and the economic climate all have an impact on the demand for bronze strings. According to the World Bank, China dominates the global market as an exporter of musical instrument strings. In 2021, China made USD 11.97 million from the export of musical instrument strings.
- The other instruments in which bronze finds application include bells, singing bowls, gongs, and other idiophones. Bronze is used to make things like Tibetan singing bowls, gongs, temple bells of different sizes and shapes, 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.
- 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 the fame of professional singers have been factors motivating people to learn about music, which has driven the demand for and growth of the musical instrument industry.
- Because of this, the above factors are likely to have a big effect on the market in the coming years.
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 increased demand for the aerospace and marine industries.
- In 2021, China exported a total of USD 108.43 million worth of bronze, making it the largest bronze exporter in Asia, according to data from the World Bank. with USD 80.15 million in exports from Japan and USD 20.59 million in exports from India in 2021.
- In 2023, Air India will make one of the largest aircraft purchases in history, placing an order for 500 planes. Boeing and Tata have formed a joint venture in India known as Tata Boeing Space Limited, which is responsible for producing Apache fuselages for use not just in India but all over the world. They're being shipped overseas.
- 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 will likely get about 8,100 new airplane deliveries, owing to the increasing demand for air travel.
- 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. Furthermore, the government intends to construct new airports while improving existing airport maintenance capacities.
- 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.
- Because of this, the above factors are likely to have a big effect on the market in the coming years.
Bronze Industry Overview
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.
Bronze Market Leaders
Aviva Metals
BOWAY
Farmer's Copper Ltd
Diehl Stiftung & Co. KG
NINGBO XINGYE SHENGTAI GROUP CO. LTD
*Disclaimer: Major Players sorted in no particular order
Bronze Market News
- September 2021: Fairbanks Morse Defense bought Salem-based Hunt Valve Company, Inc., which makes valves and electromechanical actuators for U.S. maritime agencies and other industrial customers.
- June 2021: The corporate division Metall has chosen to spin off the business unit Diehl Metall Messing of Diehl Metall Stiftung & Co. KG to the newly established firm Diehl Brass Solutions Stiftung KG, making it legally independent.
Bronze Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Rapidly Growing Marine and Aerospace Industries Across the World
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Fluctuations in the Prices of Raw Materials
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Derivative
5.1.1 Aluminum Bronze Alloy
5.1.2 Manganese Alloy
5.1.3 Silicon Bronze Alloy
5.1.4 Phosphorus Bronze Alloy
5.1.5 Nickel Bronze Alloy
5.1.6 Other Derivatives
5.2 By Application
5.2.1 Architectural Parts
5.2.2 Musical Instruments
5.2.3 Industrial Parts
5.2.4 Transportation Parts
5.2.5 Other Applications
5.3 By Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Advance Bronze Incorporated
6.4.2 Aviva Metals
6.4.3 BOWAY
6.4.4 CONCAST METAL PRODUCTS CO.
6.4.5 Diehl Stiftung & Co. KG
6.4.6 Farmer's Copper Ltd.
6.4.7 Hunt Valve Company
6.4.8 KME GERMANY GMBH
6.4.9 Lebronze Alloys
6.4.10 Matthews International Corporation
6.4.11 National Bronze Manufacturing Co.
6.4.12 NINGBO XINGYE SHENGTAI GROUP CO,LTD.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Demand for More Strenuous 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 Research 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.
Which is the fastest growing region in Bronze Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bronze Market?
In 2024, the Asia-Pacific accounts for the largest market share in Bronze Market.
What years does this Bronze Market cover?
The report covers the Bronze Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bronze Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bronze Industry Report
Statistics for the 2024 Bronze market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bronze analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
