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.
