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June 01, 2023|Chemicals & Materials

Increasing Growth in Building and Construction Industry to Drive the Market Growth

A method of metal joining amongst two metal surfaces is called brazing. A braze helps to join, form, fix by welding with an alloy of zinc and copper at high temperatures. The growing inclination towards brazing more than soldering, welding, and others is projected to expand growth of the market.  Growing momentum in the automobile industry is projected to drive market growth.

According to Business Research Insights, the global braze market size was USD 4864.3 million in 2022. The market is projected to touch USD 5445.8 million by 2028, exhibiting a healthy CAGR of 1.9% from 2022-2028.

COVID-19 Impact: Halt in Production Activities Hindered Growth

Due to the pandemic, markets witnessed reduced growth due to a pause in production activities. Government bodies have declared a lockdown which affected export and import events. The Pandemic hindered the need for braze among end-users, which stopped growth of the market. On the other hand, various stakeholders in the industry are planning their business terms to improve from the COVID-19 pandemic.

Key Industry Players in the Market:

Business Research Insights Presents the 7 Prominent Names in the Braze Industry.

1. Harris Products Group

The company was founded in the year 1914. It was founded by J.W. Harris. The company's products include brazing alloys, solder and fluxes, fabricated tubes, specialty gas equipment, and welding alloys and welding fluxes. The company’s focus lies within six values namely a focus on the customer, performance, integrity, quality, employee development, and commitment.

2. Lucas- Milhaupt

Lucas Milhaupt is a leading company in brazing. Lucas Milhaupt has produced various unique and innovative metal joining solutions to improve process efficiencies, safety for industrial original equipment manufacturers (OEMs), and quality. The company provides services to the automotive, electronics, aerospace, power generation, and refrigerator markets.

3. Umicore 

It was founded in the year 1989. Umicore is headquartered in Belgium. The company has 10,224 employees.. It is a leading circular materials technology company with expertise in material science, metallurgy and chemistry. The company helps reduce harmful emissions and power the technologies and vehicles of the future.

4. Morgan Advanced Materials

The company was founded in the year 1856. It is headquartered in the United Kingdom. The company has around 7800 employees globally. The company usually manufactures products using advanced ceramics and composites, carbon. The company has expanded their business to 85 sites across thirty countries.

5. Johnson Matthey

The company was founded in 1817 and is headquartered in the United Kingdom. The company's products include emission control catalysts, process technologies, absorbents, fine chemicals, and active pharmaceuticals. The company has around 13,497 employees globally.

6. Oerlikon Metco 

Oerlikon Metco is a surface and materials solutions provider with a global presence. The company is headquartered in Australia. The key competitors include Bodycote, ESAB, and AMETEK. The revenue earned by the company during last year was INR 100 cr – 500 cr.

7. Indium Corporation 

Indium Corporation was founded on March 13, 1934. The founders of the company are William S. Murray, J. Robert Dyer Jr., Daniel Gray. The company is headquartered in United States. It is a materials smelter, refiner, manufacturer, and supplier to the global electronics, thin-film, semiconductor, and thermal management markets.

What lies ahead of the latest trends in Braze Industry?

Increase in the building and construction industry to drive Market Growth

Globally, construction activities are projected to boost market progress. Braze is used for infrastructure for linking metals in building and construction events. Growing urbanization worldwide is estimated to propel product demand. The components of carbides such as carbide machining parts, carbide-tipped saw blades, mining and impact tools, and stone-cutting tools.

Rising demand from defence, automotive, construction industries, and electronics and electrical is projected to fuel the market growth. Steady growth of the construction sector, such as office space construction is forecasted to boost market growth. Rising useage of the product in electronic & electrical industry for its superior properties such as low part distortion and corrosion resistance is projected to accelerate market growth.

Rising growth of automotive industry to drive product adoption. Increasing demand for fuel-efficient and stable performance in vehicles is anticipated to propel the market growth.