The bronze market is projected to reach USD 10.08 Billion by 2022, at a CAGR of 2.8% between 2017 and 2022. Bronze is an important alloy used in the production of different machine components, bearings, nuts, fasteners, and propellers. The growing demand for bronze products from various end users such as industrial manufacturers and automotive and marine component manufacturers has led to the growth of the bronze market. Bronze is widely used in the manufacturing of critical engineering components for chemical, oil & gas, marine, and automotive industries. The growth of these industries is expected to drive the demand for bronze in the coming years.
Key players in the bronze market are Lebronze Alloys (France), Diehl Metall Stiftung & Co. KG (Germany), Wieland Metals Inc. (US), KME Germany GMBH & Co. KG (Germany), LDM B.V. (Netherlands), Concast Metal Products Co. (US), National Bronze & Metals, Inc. (US), PMX Industries Inc. (US), Ningbo Boway Alloy Material Co Ltd. (China), and Ningbo Xingye Shengtai Group Co., Ltd (China). Some of these companies are involved in the production of bronze alloys and manufacturing of products such as tubes, vessels, and wires while others are prominent suppliers and service centers, serving specific needs of end users. Bronze is also available in both cast and wrought forms.
Expansions, product development, and agreements are the key strategies adopted by the major companies to strengthen their sales and distribution network in the bronze market. These companies have also invested in R&D activities to enhance their market visibility and strengthen their market position.
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Ningbo Boway Alloy Material Co. Ltd (China) is one of the leading producers of bronze in the Asia Pacific region. The company has an extensive customer base in the Asia Pacific region and is expanding its presence in Europe and North America. In October 2015, the parent company of Ningbo Boway Alloy Material Co. Ltd., the Powerway Group acquired 100% equity of Berkenhoff GmBH (Germany). Berkenhoff GmBH is a manufacturer of high-end precision electrode wires.
This acquisition has enabled Ningbo Boway Alloy Material Co. Ltd. to explore the market potential in Europe and sharing of technology, brand, and channel with Berekhoff GmbH. The company is actively developing advanced bronze products. In December 2016, the company launched two alloy grades, namely, BW 25900 and C7035. These two products are good substitutes of tin/phosphorous bronze. They are widely used in different industrial applications.
Similarly, another leading player is the Concast Metal Products Co. (USA). In 2014, the company expanded its product offerings of lead-free alloys to over 90 sizes to cater to the rising demand for lead-free bronze products. Moreover, the company expanded its geographic presence in South America through a partnership with Bronze Metal Industria (Brazil) in February 2015. Bronze Metal Industria is a manufacturer of high strength bronze products, and the partnership is expected to help Concast Metal Products to leverage market opportunities in South America.