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.
In terms of revenue, the global braze alloys market is likely to attain US$2.91 bn by the end of 2026, progressing from US$2.02 bn earned in 2017. The market is expected to exhibit a growth rate of 4.1% during the forecast period between 2018 and 2026.
Copper-Based Braze Alloys having High Demand Due to Corrosion Resistance Property
There are two major categories in which the global braze metal market is bifurcated including base metal and end-use industry. In terms of end-use industry, the market in segmented into automotive, electronics and electrical, industrial, and other (including aerospace, construction, medical, and dental). Of these end-use industries, highest demand is seen in the electrical and electronics industry. However, the demand for braze alloy is also increasing rapidly in the automotive industry. This growth is attributed to its huge application of brake linings, condenser connections and brazing in evaporator for air-conditioning systems, and fuel injection pipes.
In terms of base metal, the market is segmented into silver, gold, copper, nickel, aluminum, and others (including cobalt, cadmium, and iron). Among these, the copper segment held largest shares in the global braze alloy market both in terms of value and in terms of volume in 2017. The copper segment is expected to maintain its dominance in the market over the forecast tenure. Copper-based braze alloys are generally used for brazing alloys and carbon steels, copper-nickel, nickel, and stainless steel. Moreover, these alloys offer excellent thermal and electrical conductivity and great corrosion resistance.
High Demand For Braze Alloys in Asia Pacific Due to Rapid Growth in Construction Sector
On the regional front, Asia Pacific is likely to lead the global braze alloys market over the projected tenure. Dominance of this region is projected to grow over the time due to the growing industries that use braze alloy, mainly in countries like China and India. In addition, significant growth in the building and construction industry due to the infrastructural projects going on in this regions has augmented the demand in the global braze alloy market.
Other regions are also covered in the report including North America, Latin America, Europe, and the Middle East and Africa. Among these, Europe and North America are expected to progress at a slower pace, as the braze alloys market in these regions in mature. Whereas, the United States is projected to be the prominent shareholder in the braze alloys market in North America.
In the competitive landscape section, the global braze alloys market is likely to witness higher degree of competition due to the presence of large number of players operating in the region. In addition, few players also holds significant amount of share thus, making the market moderately consolidated. In this report, researchers have analyzed few leading players including UMICORE N.V., Voestalpine Böhler Welding, Johnson Matthey, Oerlikon Metco, Morgan Advanced Materials, Indian Solder And Braze Alloys, Lucas-Milhaupt Inc., Paras Enterprises, and Bellman-Melcor LLC.