Market Insights
Brass is widely used for its
malleability, durability, excellent thermal & electrical conductivity,
strength and strong resistance to corrosion which makes it an ideal metallic
alloy for various applications across a wide range of end-use industries. Brass
is popularly used as a foil due to its characteristics mentioned above and
their superiority over other malleable metals such as copper, nickel, and
aluminum. Primarily used in electronics, automotive and construction
industries, brass foils also find applications in defense, sports, and
industrial machinery industries. Market Research Future has recently published
a detailed report which offers unique insights on the brass foils market. The
report has predicted a steady CAGR over the forecast period of 2017 to 2023.
The rapid ongoing growth of the electrical and electronics market has been
identified as a key factor promoting the considerable growth of the brass foils
market.
Key Players
·
AMCO Metall-Service GmbH
·
MP Metall Produkte
·
Arcotech Ltd.
·
G.T. Metals & Tubes
·
Global Metals
·
Olin Brass, A.J. Oster
·
Grand Metal Corporation
·
Rajshree Metals
·
Ekatron Ltd.
Latest Industry News
Anglo America is on the verge of
selling 30% of its stake in the USD 5.5 billion Quellaveco project. Situated in
southern Peru, the project is considered to be the next major copper mine in
the world. Japanese companies such as Mitsubishi, JX Nippon Mining &
Metals, and Itochu are set to present formal offers. With the demand for copper
set to increase in the next few years and it's importance in the composition of
brass, strong Japanese stakes in this mining project could further Asia
Pacifics dominance of the brass foils market.
Market Segmentation
The Global
Brass Market has been segmented by type, end-use industry, and region.
By type, the market has been
segmented into Oxygen-free High Conductivity Copper (OFHC), Electrolytic Tough
Pitch (ETP) copper, Deoxidized High Phosphorous (DHP) copper, Deoxidized Low
Phosphorous (DLP) copper.
By end-use industry, the market
has been segmented into electrical & electronics, automotive, construction,
industrial machinery, and others. In 2016, the electrical & electronics
industry segment held almost half the market share of the total market.
By region, the market has been
segmented into, North America, Latin America, Europe, and the Middle East &
Africa.
Regional Analysis
The Asia Pacific dominated the
global market with the most significant market share and is also the fastest
growing region during the forecast period. Accounting for over half the market
share of the overall brass foils market, emerging economies such as India and
China are leading market growth. There is a strong presence of key players in
this region. Increasing demand for personal electric devices and automotive in
emerging economies has made this region a lucrative market for brass foils.
Europe holds the next largest
share after the Asia Pacific, due to the prominence of the growing automotive
industry in the region. Germany, U.K., France, and Italy are expected to drive
market growth during the forecast period. Growing demand for electric vehicles
in this region due rising to environmental consciousness in developed countries
of this region and the presence of electric automobile manufacturers will
positively impact growth in the region.
North America closely follows
Europe, with U.S. driving significant demand for brass foils. This primarily
due to the growing reconstruction activities and the huge automotive industry
present in this region.
Latin America, which has recently
seen a calming of political and economic unrest is expected to start showing
growth and increased demand in the coming years.
The Middle East & Africa is expected
to grow significantly during the forecast period due to the rapid growth of
some Middle Eastern countries. Increased construction in U.A.E and Qatar among
other countries is expected to drive growth for brass foils in this region.
COVID-19 Outbreak Impact on Renewable Chemicals Market@ https://www.marketresearchfuture.com/report/covid-19-impact-renewable-chemicals-market
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