LONDON--(BUSINESS WIRE)--The global braze alloys market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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 high temperature, pressure, and corrosion resistance. Some of the common areas of braze alloys application in the aerospace industry are turbines, heat exchangers, and sub-assembly of sensors. Therefore, the increase in demand from such applications in the manufacturing process of components is expected to boost market growth largely during the forecast period.
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As per Technavio, the growing recyclability of braze alloys, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Braze Alloys Market: Increasing integration of IoT with IBMS
Currently, in the braze alloy market, there is a rise in recycling activities as vendors are developing new 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. Thus, all these factors are expected drive the market growth during the forecast period.
“Apart from the high application in the automotive and aerospace market, the advances in metal-ceramic brazing, and advances in brazing process are some other major factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Braze Alloys Market: Segmentation Analysis
This market research report segments the global braze alloys market by application (automotive, electrical and electronics, aerospace, and others) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance and register the highest incremental growth due to the rise in application of brazing in markets such as automotive, aerospace, and construction.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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