Braze Alloys Market
Braze Alloys Market (Base Metal - Copper, Gold, Aluminum, Silver, Nickel, and Others; End use Industry - Automotive, Electronics and Electrical, Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026
Press Release :
Braze Alloys Market: Snapshot
Braze alloys are widely used in automotive sector owing to plethora of advantage they offer. In automotive systems, braze alloys aluminum and copper are extensively utilized to achieve the weight reduction. Apart from this, braze alloys help in improving the performance and fuel efficiency of vehicles. This aside, companies in worldwide automotive sector are growing use of braze alloys owing to their ability to reduce carbon dioxide as well as other harmful gasses emission. Thus, the vendors working in the global braze alloys market are predicted to experience increased demand avenues from the automotive sector in the forthcoming years.
In recent few years, there is remarkable shift toward the use of braze alloys instead of traditional metal-joining techniques including welding and soldering. One of the key factors pushing this change is a wide range of advantages of braze alloys. Many manufacturers are increasing the use of braze materials as they are safe to use and cost-effective than other alloys. In addition to this, these alloys offer minimal or no component distortion and low base metal dilution. This aside, the ability of braze alloys to assist in filling small and wide gaps sizes is estimated to generate promising sales opportunities in the global braze alloys market in the forthcoming years. However, the global braze alloys market might experience sluggish growth owing to unstable raw materials prices.
Owing to recent COVID-19 pandemic, many companies working in the global braze alloys market are experiencing sluggish growth rate. The government bodies of major countries worldwide had announced lockdowns, due to which the production as well as transportation activities were halted. This scenario has impacted adversely on the revenues of majority of companies from the global market for braze alloys. On the other hand, many stakeholders in the braze alloys market are strategizing their business moves to recover fast from this crisis.
Global Braze Alloys Market: Snapshot
Globally, the demand for braze alloys has grown significantly grown in the automotive sector. Copper and aluminum are braze alloys are widely used in the automotive system to reduce the weight. It also enhances fuel efficiency and performance and reduces emission of carbon dioxide and other harmful gasses.
Moreover, braze alloys have several advantages over conventional metal-joining procedures such as soldering and welding. Large number of manufacturers are adopting braze materials as they are safe to use and their cost is low than other alloys. They also provide low base metal dilution, minimal or no component distortion, and helps in filling wide and small gaps sizes. However, fluctuating prices of raw material might limit the growth in the global braze alloys market.
Braze Alloys Market – Overview
Brazing is a process that joins two or more metals by melting them and flowing another metal in the joint, known as filler metal, which has lower melting point compared to adjoining metals. The filler metal used in the brazing process is referred to as braze alloys. The melting temperature of a braze alloy should generally be higher than 450°C, but not more than the melting temperature of the base metal. At its melting point, braze alloy melts and distributes itself between the work pieces due to the capillary action. Braze alloys can be utilized in a number of forms such as paste, powder, tapes, foils and braze wires, and rods.
In terms of base metal, the braze alloys market has been segmented into gold, silver, copper, aluminum, nickel, and others (including cadmium, cobalt, and iron). Gold-based braze alloys possess exceptional wettability, corrosion resistance, and are suitable for applications with high service temperatures. Silver-based braze alloys possess good electrical conductivity, and are ductile and self-fluxing in nature.
Copper-based braze alloys are commonly used for brazing alloys and carbon steels, nickel, copper-nickel, and stainless-steel. They offer excellent electrical and thermal conductivity and high corrosion resistance. In terms of value and volume, the copper segment held major share of the global braze alloys market in 2017. The segment is expected to continue its dominance during the forecast period. Aluminum-based braze metals are generally utilized for brazing aluminum pieces. The others segment includes braze alloys based on other metals such as nickel and palladium.
Based on end-use industry, the braze alloys market has been classified into electronics and electrical, automotive, industrial, and others (including construction, aerospace, medical, and dental). Brazed components are employed extensively in the electrical & electronics industry. They are also used in the automobile industry for various purposes. Rise in manufacture of automobiles and automobile parts has boosted the demand for braze alloys in the automotive sector. This, in turn, is driving the attractiveness of the automotive segment.
Based on region, the global braze alloys market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to lead the market during the forecast period, primarily due to the growth in industries that employ braze alloys in the region, especially in developing countries such as India and China. The market in Asia Pacific is anticipated to expand at a substantial pace during the forecast period, followed by that in North America and Europe. The braze alloys market in North America and Europe is mature. Hence, it is projected to expand at a sluggish pace during the forecast period. The U.S. is likely to constitute prominent share of the braze alloys market in North America in the near future.
The report analyzes and forecasts the braze alloys market at the global and regional levels. The market has been forecast in terms of volume (tons) and revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global braze alloys market. It also covers the expected impact of these drivers and restraints on the demand for braze alloys during the forecast period. The report also highlights growth opportunities for the braze alloys market at the global and regional levels.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global braze alloys market. The Porter’s Five Forces model for the braze alloys market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein segments have been benchmarked by base metal and end-use industry based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global braze alloys market by segmenting it in terms of base metal, end-use industry, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and future demand for braze alloys in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers segmentation based on individual base metal and end-use industry of the market in all the regions.
The study includes profiles of major companies operating in the global braze alloys market. Key companies functioning in the braze alloys market include Johnson Matthey, Voestalpine Böhler Welding, Oerlikon Metco, UMICORE N.V., Morgan Advanced Materials, Indian Solder And Braze Alloys, Paras Enterprises, Lucas-Milhaupt Inc., Bellman-Melcor LLC, Aimtek, Inc., Harris Products Group, and VBC Group.
The report provides size (in terms of volume and value) of the braze alloys market for the base year 2017 and the forecast for the period between 2018 and 2026. The size of the global braze alloys market has been provided in terms of volume and revenue. Market numbers have been estimated based on base metal, end-use industry, and region. The market size and forecast for each base metal and end-user industry segment have been provided for the global and regional markets.
- Extensive analysis of market trends from 2017 to 2026 in order to identify opportunities and market developments
- Analysis of various base metals and end-use industries wherein braze alloys are used
- Key factors responsible to build a roadmap for upcoming opportunities for the braze alloys market at the global, regional, and country levels
- Comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global braze alloys market between 2018 and 2026
- Detailed competition landscape of key players operating in the market to understand competition level
- Porter’s Five Forces analysis to highlight the power of buyers and suppliers in the market
The Braze Alloys Market has been segmented as follows: