Braze Alloys Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Base Material (Nickel, Cobalt, Silver, Gold, Aluminium, Copper), By Product Form (Braze Powder, Braze Paste, Braze Tape, Braze Preforms, Braze Foil, Braze Rod And Wire), By Industry Vertical (Automotive, Aerospace And Defense, Electrical And Electronics, Others), And By Geography- Forecasts From 2022 To 2027

The braze alloys market is expected to grow at a CAGR of 7.25% to reach a market size of US$6,538.719 million in 2027, up from US$4,004.749 million in 2020. The market is propelled to grow in the forecast period owing to the growing number of brazing applications in various high-end industries such as aerospace and defense One of the key factors driving the growth of the worldwide braze alloys market during the forecast period is the expanding aerospace and military sector. Furthermore, with the growing number of passengers carried, there is a need for the manufacturing of new commercial aircraft. Hence, the demand for brazing alloys in the manufacturing of commercial aircraft is further providing an opportunity for the market to thrive in the forecast period. The growing electrical, and electronics industries, along with the increasing construction industry, are augmenting the market demand over the next five years.

On the basis of geography, North America and Europe are estimated to hold a significant market share in the global braze alloys market owing to the early adoption of technological innovations. However, the Asia Pacific region is projected to have a high market growth rate during the forecast period due to the region's expanding automotive, electronics, and construction industries, which are fueling market expansion in this area.

The increasing aerospace and defence industry is predicted to drive market growth in the forecast period.

With rising air passenger traffic, the aerospace and defence industries grew strongly.  Also, global military spending continued to soar, which means the industry is projected to experience growth in the forecast period as well. The manufacture and production of commercial aircraft are expanding, which is accelerating industry growth. In the commercial aerospace sector, the demand for next-generation aircraft remains high while the manufacturing of fuel-efficient aircraft continues to proliferate with the fluctuating oil prices. Moving on to the military industry, it is projected that rising global tensions, geopolitical threats, and significant defence spending by regional countries other than the United States, such as China, India, and Japan, will contribute to the sector's expansion throughout the forecast period. Furthermore, significant mergers and acquisitions are taking place in the aerospace and defense sector, where bigger market players are focusing on vertical integration. Also, it is observed that bigger contractors are thinking of acquiring small and medium-sized enterprises to gain access to new markets and technologies.

The forecasted period will see increased market demand due to the expanding construction sector.

The construction industry is projected to expand with rapid construction activity, especially in the emerging economies of the world. Additionally, with technological advancements in construction materials and products, the industry is expected to be fueled by surging demand. The factors contributing to the rising construction activity are attributed to ongoing industrialization and urbanization. The shift from rural areas to urban areas has given rise to several challenges, especially for low-income and lower-middle-income countries trying to fulfil the demands of their urban populations. This has further created a huge demand for many developments to be made, which includes residential construction, transportation, which includes roads and highways, energy systems and other infrastructure, such as better healthcare facilities. Furthermore, the increasing infrastructure spending on new construction projects, improvement, and repair construction activities is driving the industry’s growth, which, in turn, is driving the market demand during the course of the forecast period.

Key Developments

• Johnson Matthey Plc and Ningxia Baofeng Energy Group plan to build 6,600 mtpd methanol plants in China in June 2020 in order to increase the size of their production facilities.
• Indium Corporation introduced New Versatile Solder Paste in August 2021. A flexible paste, Indium12.8HF is designed to give outstanding jetting and micro dispensing performance on a range of systems. This launch will assist the business in growing its consumer base.

Covid-19 Impact on the Braze Alloys Market

The market suffered as a result of the COVID-19 pandemic. Lockdown caused the manufacturing process to stop and the end-user demand to fall, which had a negative impact on the market. The market for braze alloys was badly impacted by the COVID-19 outbreak in terms of income. The production of autos has been interrupted in APAC and Europe, which has drastically decreased the demand for brazing alloys. Industries are emphasizing sales of previously produced automobiles rather than the introduction of new models. Future reduced flight operations have put a stop to aircraft production. Following COVID, there has been a progressive trend toward higher demand for braze alloys among different end users, including those in the automotive, aerospace and defence, electronics and electrical, building and construction, and other industries.

Braze Alloys Market Scope:

Market Segmentation:

• By Base Material
  • Nickel
  • Cobalt
  • Silver
  • Gold
  • Aluminum
  • Copper
• By Product Form
  • Braze Powder
  • Braze Paste
  • Braze Tape
  • Braze Preforms
  • Braze Foil
  • Braze Rod and Wire
• By Industry Vertical
  • Automotive
  • Aerospace and Defense
  • Electrical and Electronics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • UAE
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Thailand
    • Taiwan
    • Indonesia
    • Others