According to latest research by Future Market Insights, Brazing Strips market is set to witness steady growth during 2021-2031 exhibiting a CAGR of over 3% during the same period. Demand for brazing material will witness steady growth in short-term, with optimistic growth outlook in the long-run. Muted demand from automotive and aerospace industry will mean limited opportunities in near future, however, sales of brazing materials from automotive sector will provide momentum.
What is Driving Demand for Brazing Strips?
Surfacing demand from automotive industry for various end use applications will continues to drive demand for brazing strips. Automotive industry applications continue to be a lucrative avenue for brazing material manufacturers.
The most brazing materials have excellent welding performance which exhibits good wettability, gap filling ability, good conductivity, better corrosion resistance, and, high mechanical strength.
Brazing strip are used to fill the gap perfectly without damage the base metal, suitable for kinds of complicated welding conditions. Brazing has been significantly reduce the amount of time and material required for the manufacturing and designing of complex molds and castings. This is especially true in the production of large volumes of products and that can significantly improve the product sales.
Automotive Industry is Likely to Augment Brazing Strips Sales
Automotive industry sales around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on automotive industry allied services sales. As the brazing material manufacturers are likely to witness sustained opportunities in the future from end-use industries.
Brazing strips is also used extensively in manufacturing and designing of complex molds and castings for automobile industry. Although lockdown and shelter-at-home guidelines have meant restricted production activities, sales are likely to improve over the course of the assessment period.
China Brazing Strips Market Outlook
China is one of the largest markets for automobile manufacturing globally. The China brazing strips market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain muted in the next couple of years, as a number of end-use industries make gradual recovery.
Demand for brazing material in China will be led by automobile, aerospace, and other industries. China will account for high demand for the manufacturing brazing material, as demand for brazing products continues over the forecast period. Chain’s glass exports is likely to surge drastically over a period and beyond, and this will continue to benefit glass forming equipment companies.
China brazing material sales will also be impacted by the COVID-19 recovery in 2021. Automotive manufacturers faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of brazing materials.
US Demand Outlook for Brazing Strips
Countries in North America have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. North America hold major share in the world automotive and aerospace exports, which in turn continues to drive demand for brazing material.
Despite the COVID-19 challenges, most North America countries have maintained a steady growth in production and exports in 2020. US is the major prominent players in the region, creating opportunities for raw material and machinery suppliers.
Who are the Key Manufacturers and Suppliers of Brazing Strips?
Some of the leading manufacturers and suppliers of brazing strips include
- Harris Products Group
- Morgan Advanced Materials
- Johnson Matthey
- Wall Colmonoy
- Tokyo Braze
- Aimtek, Hangzhou Huaguang
- Zhejiang Seleno
- Shanghai CIMIC
- Saru Silver Alloy
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Brazing Strips Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
Key Segments of Brazing Strips Market
- Nickel Base
- Silver Base
- Gold Base
- Aluminum Base
- Copper Base
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Germany, Italy, France, U.K., Spain, BENELUX, Russia
- South Asia Pacific
- India, ASEAN, Australia and New Zealand (ANZ)
- East Asia
- China, Japan, South Korea
- Middle East and Africa
- GCC Countries, Turkey, North Africa, South Africa
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