Automotive Segment to Account for 31.50% Global Braze Alloys Market Share

Metal fillers are used to unite metal materials in the brazing process, and these metal fillers are also known as braze alloy. Brazing is a more stable procedure than soldering and wielding. To wicked over the seam of the metal junction, molten braze alloys are utilized. Aluminum, copper, gold, and other metals are used as base metals in braze alloys. Braze alloy comes in various forms, including powder, paste, tape, and rod. Braze alloys are used in various brazing processes such as torch brazing, furnace brazing, and so on. Braze alloys are widely used in aerospace, automotive, electronics, and electrical industries.

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Data Bridge Market Research analyses that the braze alloys market is expected to grow at a CAGR of 4.8% in the forecast period of 2022 to 2029 and is expected to reach USD 2,667.70 million by 2029. The demand for braze alloys will be driven by the increased demand for brazing instead of wielding and soldering in industrial applications. Furthermore, rising demand for metal joining through the brazing technique in aerospace applications such as commercial aerospace engine components will boost the growth rate of braze alloys market.  

Global Braze Alloys Market

Rising use of braze alloys in the aviation as well as the automotive industry is expected to drive the market's growth rate during the forecast period

Braze alloys are in high demand in the automobile industry, where they are employed as air-conditioning condenser and evaporator connections, fuel injection pipes, and brake linings. Lightweight vehicle components have long been a goal of the automotive and aviation industries. Brazing alloys such as copper and aluminum are widely used in the automotive system to reduce weight. It also helps in improving fuel efficiency and performance and simultaneously decreases the emission of carbon dioxide and various other harmful gasses. Additionally, amorphous brazing foil or brazing alloys is an important and well-established brand of filler metals due to advances in the rapid solidification technology and development of new commercial products and applications in the automotive and aviation industries. Brazing alloys are manufactured in multi-tonnage quantities that can be stamped, cut or shaped into numerous precise preforms ranging in weight from a few dozen milligrams to a few hundred grams. Therefore, current efforts resulted in the development of new applications that are finely attuned to the specific needs of each braze product in different industries, including aviation, automotive and electronics among others.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Metal (Nickel, Cobalt, Silver, Gold, Aluminum, Copper, Steel, Iron, Magnesium, Titanium, and Others), Filler Material (Braze Powder, Braze Paste, Braze Tape, Braze Preform, Braze Foil and Braze Rod and Wire), Technology (Torch Brazing, Furnace Brazing, Induction Brazing, Dip Brazing, Resistance Brazing, Infrared Brazing, Exothermic Brazing, Blanket Brazing, Electron Beam/Laser Brazing, Braze Welding, Dissociated Ammonia, Vacuum Brazing, Hydrogen Brazing, Fuel Gas Brazing and Others), Form (Pipe, Tube, Sheet, Strip, Plate, Round Bar, Flat, Bar, Wire, and Others), Production Temperature (Less than 900 °C, 901 °C to 1000 °C, 1001 °C to 1200 °C and Above 1200 °C), End Use (Aerospace and Defense, Electronics and Electrical, Automotive, Marine, Chemicals, Building and Construction and Others)

Countries Covered

U.S., Canada, Mexico Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, Luxemburg, and Rest of Europe, Brazil, Argentina, and Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa

Market Players Covered

Johnson Matthey (U.K.), OC Oerlikon Management AG (Switzerland), Sulzer Ltd (Switzerland), Belmont Metals (U.S.), Harris Products Group (U.S.), Morgan Advanced Materials and its affiliates (U.K.), Aimtek, Inc. (U.S.), Prince Izant Company (U.S.), Lucas-Milhaupt, Inc. (U.S.), Esprix Technologies (U.S.), Indium Corporation (U.S.), AMETEK. Inc. (U.S.), TSI Technologies (U.S.), ESAB (U.S.), Indian Solder and Brazing Alloys (India), SAXONIA Edelmetalle GmbH (Germany), Saru Silver Alloy Private Limited (India), Cupro Alloys Corporation (India), KRANTI METALLURGY PVT LTD (India), S. K. METAL (India)

Data Pointers Covered in Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Segment Analysis:

The braze alloys market is segmented on the basis of metal, filler material, technology, form, production temperature, and end use. 

  • On the basis of metal, the global braze alloys market is segmented into silver, copper, nickel, gold, titanium, steel, aluminum, cobalt, iron, magnesium and other. In 2022, the silver segment is expected to dominate the market with 46.59% market share due to its vast application in brazing filler materials products. Its quality and consistency are increasing the demand in the market.

In 2022, the silver segment of metal segment is anticipated to dominate the braze alloys market.

In 2022, the silver segment of this market will dominate the braze alloys market due to its vast application in brazing filler materials products. Its quality and consistency increase the demand in the market. The silver segment is expected reach the highest CAGR of 5.2% in the forecast period of 2022-2029.

  • On the basis of filler material, the global braze alloys market is segmented into braze paste, braze rod and wire, braze powder, braze preform, braze foil and braze tape. In 2022, the braze paste segment is expected to dominate the market with 36.28% market share due to the easily available, being very portable, and providing better handling of metals during brazing.
  • On the basis of technology, the global braze alloys market is segmented into torch brazing, furnace brazing, resistance brazing, induction brazing, dip brazing, infrared brazing, vacuum brazing, electron beam/laser brazing, exothermic brazing, braze welding, hydrogen brazing, blanket brazing, dissociated ammonia, fuel gas brazing and others. In 2022, the torch brazing segment is expected to dominate the market with 17.02% market share due to the increase in adaptation for wide applications such as in the automotive sector, transportation sector, constructions of buildings and infrastructures such as commercial, residential and industrial
  • On the basis of product form, the global braze alloys market is segmented into wire, strip, bar, pipe, tube, flat, sheet, plate, round bar and others. In 2022, the wire segment is expected to dominate the market with 24.59% market share as it is the more commonly used and is readily available, and provides more efficiency.
  • On the basis of production temperature, the global braze alloys market is segmented into 1001°C to 1200°C, less than 900°C, 901°C to 1000°C and above 1200°C. In 2022, the 1001°C to 1200°C segment is expected to dominate the market with 55.73% market share as it is most of the metals used for brazing melt in this range.

In 2022, the 1001°C to 1200°C segment is projected to hold the largest share of production temperature segment in the braze alloys market

In 2022, the 1001°C to 1200°C segment is anticipated to hold the largest share of global braze alloys market as it is most of the metals used for brazing melt in this range. The 1001°C to 1200°C segment is growing with a CAGR of 5.3% in the forecast period of 2022 to 2029.

  • On the basis of end user, the global braze alloys market is segmented into automotive, aerospace and defense, electronics and electrical, building and construction, chemicals, marine and others. In 2022, the automotive segment is expected to dominate the market with a 31.50% market share due to the increase in demand for energy-efficient buildings, rising trends for a reduction in the cost, prevention of corrosion, and freeze damage among many others are expected to drive the growth of the market. 

Major Players

Data Bridge Market Research recognizes the following companies as the major braze alloys market players in braze alloys market are Johnson Matthey (U.K.), OC Oerlikon Management AG (Switzerland), Sulzer Ltd (Switzerland), Belmont Metals (U.S.), Harris Products Group (U.S.), Morgan Advanced Materials and its affiliates (U.K.), Aimtek, Inc. (U.S.), Prince Izant Company (U.S.), Lucas-Milhaupt, Inc. (U.S.).

Market Development

  • In August 2021, Indium Corporation had announced the launch of New Versatile Solder Paste named Indium12.8HF. Indium12.8HF is a flexible paste designed to provide outstanding jetting and microdispensing performance on a wide range of systems. Indium12.8HF is a no-clean, halogen-free solder paste designed for long-term jetting and microdispense applications. It is naturally compatible with Indium Corporation's best-selling solder paste, Indium8.9HF.
  • In June 2021, OC Oerlikon Management AG had announced the acquisition of Coeurdor. Coeurdor is a well-known brand and a full-service provider of metallic component design, manufacture, and finishing for world-renowned luxury brands. Leather purses, belts, watches, and other high-end items feature Coeurdor accessories. PVD (physical vapor deposition) coatings for metal and plastic components, diamond-like coatings (DLC) and surface coating systems, as well as additive manufacturing powders and printing services, are all available from Oerlikon.
  • In April 2021, Johnson Matthey had announced the partnership with Stena Recycling Group on sustainable, circular solution for lithium ion battery recycling. Johnson Matthey will develop additional process stages to produce fully refined materials appropriate for use in the lithium ion battery production process, boosting the recycled content of new batteries. To achieve circularity in the supply chain, the loop must be closed from end-of-life recycling to new battery materials. In the next decade, the amount of lithium ion batteries used in automobiles and power storage is estimated to rise double, from 260GWh in 2020 to 2,500GWh in 20302. This will drive up demand for recycling, which is required to recover important metals including lithium, nickel, and cobalt, lowering the carbon footprint of battery electric vehicles.

Regional Analysis

Geographically, the countries covered in the braze alloys market report are U.S., Canada, Mexico Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific, Germany, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Netherlands, Luxemburg, and Rest of Europe, Brazil, Argentina, and Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in braze alloys market during the forecast period 2022 - 2029

Asia-Pacific will continue to dominate the braze alloys market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the increase in use of braze alloys in wide end user industries. Additionally, significant growth in the building and construction industry because of the rising infrastructural projects in the region will further propel the market’s growth rate.

North America is estimated to be the fastest-growing region in braze alloys market the forecast period 2022 - 2029

North America region is anticipated to grow at the highest rate during the forecast period of 2022-2029 due to the rising use of bronze alloys in the automotive and aviation industry. The surging preference towards brazing process over soldering and welding among others is anticipated to enhance the market’s growth rate in this region.

COVID-19 Impact Analysis

COVID-19 had an impact on the market. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The manufacturing process was interrupted as a result of the lockdown, and demand from end-users also reduced, significantly impacting the market. The braze alloys market is no exception. Furthermore, consumer preferences has decreased as people are now much more concentrated on removing non-essential expenses from their budgets as the wider economic situation of most people has been adversely impacted by this outbreak. Over the forecast period, the aforementioned factors are likely to have a negative impact on the braze alloys market's revenue trajectory. Post-COVID, demand for braze alloys surged due to a shift in consumer purchasing patterns and a steady movement toward higher demand for braze alloys among numerous end users, including automotive, aerospace and defense, electronics and electrical, building and construction, and others.

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