Bronze is one of the oldest metals known to man. It is defined as an alloy obtained by combining copper with other metals, usually tin. Bronze can also be made by combining copper with metals such as zinc, arsenic, silicon, phosphorus, aluminum, nickel, and manganese. Bronze is obtained as a golden, hard, and brittle metal. It exhibits properties such as high ductility, and low friction against other metals, which makes it highly desirable for combination with various metals, in a number of applications. Moreover, bronze is an ideal choice to use around flammable or explosive materials, as striking it against a hard surface doesn’t generate sparks. Furthermore, it offers high resistance to corrosion, and has a richer look than brass, due to a tinge of red color in it. Bronze is employed in a number of applications such as architectural infrastructure, bearings, musical instruments, electrical contacts, machine tools, and as bronze wool in woodworking. However, bronze is an expensive metal. It develops patina, a green film, as a result of long exposure to moisture. A major drawback of bronze is that it is susceptible to ’Bronze Disease’, which leads to the formation of small, rough, green corrosion spots on bronze due to the combined attack of chlorides and oxygen, in a damp environment. This disease forces the users of bronze to substitute it with the other metals, especially in architectural design applications, as the resulting green spots hamper the overall aesthetics of the architecture.
Based on the metals with which copper is combined to form bronze alloy, the market can be segmented into tin, phosphorus, aluminum, zinc, manganese, arsenic, and silicon. Currently, the market is dominated by tin, as a majority of bronze is manufactured using tin. The typical composition in bronze employing tin is 0.5% to 1% tin, 0.01% to 0.35% phosphorous, and majorly copper. It is also called as phosphor bronze. Tin bronze possesses high strength, high durability, high fatigue resistance, and low coefficient of friction. It is utilized in several applications such as anti-corrosive and electrical components. Tin bronze is anticipated to dominate the bronze market during the forecast period.
Based on application, the bronze market can be segmented into musical instruments, architectural components, medals, and industrial. The industrial application segment dominates the bronze market, and is anticipated to continue its dominance during the forecast period. Bronze is employed to manufacture various industrial products such as bearings, bushings, bellows, washers, springs, etc. Moreover, demand for industrial products made from bronze is increasing due to the rapidly increasing industrialization and expanding manufacturing sector, especially in Asia Pacific. This, in turn, is fuelling the demand for bronze. The bronze market is anticipated to expand at a significant growth rate during the forecast period.
In terms of geography, the global bronze market can be segregated into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. Asia Pacific dominated the global bronze market due to the presence of a large number of manufacturing industries in the region, especially in developing countries such as China, India, and the ASEAN countries. Rising population and rapid economic development in the region are fuelling the manufacturing industry in the region, which in turn is likely to boost the bronze market during the forecast period. Asia Pacific is anticipated to expand at a significant rate during the forecast period.
Major players operating in the global bronze market include Lebronze Alloys, Ningbo Xingye Shengtai Group Co., Ltd., Ningbo Boway Alloy Material Co Ltd., Diehl Metall Stiftung & Co. KG, PMX Industries Inc., Wieland Metals Inc., KME Germany GMBH & Co. KG, National Bronze & Metals, Inc., LDM B.V., and Concast Metal Products Co.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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