The global braze alloys market is prognosticated to expand at a moderate pace at CAGR 4.1% from 2018 to 2026, states an upcoming report by Transparency Market Research (TMR).
The report also points out that the global braze alloys market was estimated at US$2.02bn in 2017 and expected to reach an valuation of US$2.91 by the end of 2026. The growing demand for vehicles is projected to drive braze alloy market to expand in the upcoming years.This is mainly because the braze helps in improving vehicle performance, promotes fuel efficiency, and minimizes carbon efficiency.
On the basis of segmentation, the global braze alloys market is divided into gold, silver, copper, nickel, and aluminum, in terms of metal base. Among these, copper base is expected to register a higher growth during the forecast period. The growth can be due to its quality conductivity, corrosion resistance, and thermal properties.
Consumer Electronic Goods to Provide Impetus to Growth in Braze Alloy Market
Brazing alloy is used for producing high power electronic and electric appliances. This might help in pushing the global braze alloys to grow in the following years.
The brazing techniques are employed in producing single devices is higher than any other device that is used during brazing engineering. These are used in production of marine radars, television transmitters, industrial cookers, and cancer treatment equipment. These factors may result in expansion of the global braze alloys market.
For large volume production, a braze alloy consisting a mesh belt furnace which contains nitrogen and hydrogen is a good technique. This technique could aid in the growth opportunities of the global braze alloys market.
Brazing techniques results in high quality and products with high precision might act as a factor contributing towards the growth of the global braze alloys over the forecast period.
To ensure the product quality until the last stage of production it is important to keep a check on meeting industry standards and specification while using brazing techniques. As a result, this may boost the growth of the global braze alloys market.
Further, the electrical and electronic devices often use copper based braze alloys, owing to the expansion of the braze alloys market.
Braze alloys are cost efficient than the convention processes like soldering and welding. This may help in the surge of the braze alloy market.
Fluctuating cost of the raw materials may obstruct the growth over the forecast period. Nevertheless, the aviation sector is likely to widen the global alloys market due to its applications in manufacturing and repairing of turbine blades.
Asia Pacific to Hold Larger Market Share
In terms of region, Asia Pacific is expected to have a strong hold over the global braze alloys market during the forecast period. The growth here can be attributed to rising demand from automotive sector and electrical appliances due to growing population.
North America and Europe is also expected to grow along the way, this is because these two regions are hub for automotive manufacturing. Ford sold total 590, 249 vehicles in the U.S alone during the first quarter of 2019. Although, the overall sales slightly declined, but Lincoln brand market saw a surge by 11.2%.
Some of the noteworthy players in the global braze alloys market include Johnson Matthey, Morgan Advanced Materials, Oerlikon Metco, Voestalpine Böhler Welding, Bellman-Melcor LLC. Paras Enterprises and UMICORE N.V.