Braze Alloys Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Braze Alloys Market: About this market
Technavio’s braze alloys market analysis considers sales from automotive, electrical and electronics, aerospace, and other applications. Our analysis also considers the sales of braze alloys in APAC, Europe, North America, South America, and MEA. In 2018, the automotive segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as high application of brazing and associated filler metals in the automotive sector will play a significant role in the automotive segment to maintain its market position. Also, our global braze alloys market report looks at factors such as benefits of braze alloys, increasing applications of braze alloys in automotive and aerospace manufacturing, and growing electronics market providing impetus to market growth. However, issues associated with the blazing process, high fluctuation in raw material prices, and need to adhere to ISO standards for using braze alloys may hamper the growth of the braze alloys industry over the forecast period.
Global Braze Alloys Market: Overview
Increase in applications of braze alloys in automotive and aerospace industry
Braze alloys have high application in the automotive and aerospace market because of the rise in use of advanced forms of alloys in vehicle manufacturing and the advantages associated with braze alloys. Moreover, brazing is a cost-efficient process among other joining processes. The use of braze alloys also provides better strength, ductility, toughness, resilience, and robustness to the automobile body. As a result, the brazing process also finds high application in the aerospace industry as it plays a crucial role in manufacturing robust components that have a high temperature, pressure, and corrosion resistance. The increase in demand from such applications in the manufacturing process of components will lead to the expansion of the global braze alloys market at a CAGR of over 5% during the forecast period.
Growing recyclability of braze alloys
Currently, in the braze alloy market, there is a rise in recycling activities as vendors are developing innovative approaches for more economical manufacturing of braze alloys. There has been a rise in the recycling of braze alloys of aluminum in the aerospace market. Prominent players operating in the global aluminum market are also working on new approaches for identification, development, and implementation of economical technologies that can optimize the benefits of aluminum recycling. In addition, there is a rise in process automation and optimization through pre-sorting, shredding, and separation technologies which helps recycled braze alloys to attain the desired characteristics. Such developments are expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global braze alloys market during the forecast period 2019-2023, click here.
With the presence of several major players, the global braze alloys market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading braze alloys manufacturers, that include Aimtek Inc., Cupro Alloys Corp., Johnson Matthey Plc, Morgan Advanced Materials Plc, OC Oerlikon Management AG, Prince Izant Co., The Lincoln Electric Co., The VBC Group Ltd., and Umicore.
Also, the braze alloys market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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