The Global — Brass Foils Market is growing rapidly majorly due to some of the burgeoning industries such as electrical & electronics, automotive, construction, and industrial machinery among others. As a result, the Brass Foils Market witnesses not only a huge demand but also a constant increase in the size of the market. Moreover, the spurting rise in automotive production is escalating the market on the global platform, providing multiple opportunities for the market to thrive in the forthcoming years.
Acknowledging the extensive growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the Global Brass Foils Market is poised to garner exponential gains by 2023, registering a CAGR of 6.5% throughout the forecast period (2016-2023). The burgeoning construction industry is another key application area using the Brass Foils extensively.
Due to its electrical conductivity, thermal conductivity, and corrosion resistance Brass Foils are hugely consumed in the building & construction sector, globally. Moreover, the augmenting demand for electric vehicles led by the rising crude oil prices and the rapid development in the electrical & electronics sector fosters the growth of the Brass Foils Market.
Additionally, Brass Foils find their uses in diverse industries including sports, defense, and industrial machinery. Other successfully penetrated applications of Brass Foils include embossing & tooling, fine craft, waveguides, and microwave tubing among others. Also, the growing demand for portable and other electronic devices alongside the drastic growth in electrical appliances and electronics goods drives the growth of the market.
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Global Brass Foils Market - Segmentation
For ease of understanding, the analysis has been segmented into three key dynamics: -
By Type : Electrolytic Tough Pitch (ETP) Copper, Oxygen-Free High Conductivity Copper (OFHC), Deoxidized High Phosphorous (DHP) Copper, and Deoxidized Low Phosphorous (DLP) Copper) among others.
By End-Use Industries: Electrical & Electronics, Automotive, Construction, and Industrial Machinery among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Brass Foils Market - Regional Analysis
The Asia Pacific region heading with its rapid industrialization, accounts for the dominating market for brass foils, globally. The region accounts for over 50% share of the Global Brass Foils Market. Some of the burgeoning end-user industries such as electrical & electronics, automotive, and construction are aiding the growth of the regional market. Countries such as China, Japan, Australia, and India, backed by the high investments led by improving financial conditions are providing impetus to the growth of the market.
Not only the large-scale industrialization creates a need for improvements in infrastructure, but also the ever-increasing population demands higher-quality housing & better living conditions which, in turn, are fostering the Brass Foils Market, driving the construction sector in the region. The region is estimated to grow at a healthy CAGR during the forecast period.
The brass foils market in the European region accounts for the second-largest market, globally. The presence of a well-developed automotive industry is contributing to the growth of the regional market, creating a vast demand for Brass Foils in the electrical components. Besides, the spurting rise in the automotive sector led by the elevated demand for electric vehicles (EV) is predominantly supporting the growth of the regional market.
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The North American Brass Foils Market is rapidly emerging as a profitable market, globally. The rising consumption of Brass Foils in the reconstruction activities and automotive industry in this region is a key driving force behind the growth of the regional market. The U.S. among other North American countries holds a major share of the regional market of Brass Foils. Moreover, the augmenting demand for sustainable buildings in the resurging construction sector and the growing usages of Brass Foils are driving the growth of the regional market.
Global Brass Foils Market - Competitive Analysis
Highly competitive, the Global Brass Foils Market appears to be fragmented characterized by the presence of several well-established and small players. Well-established players incorporate collaboration, acquisition, partnership, expansion, and technology launch to gain a competitive advantage in this market.
These players strive to deliver the best quality products and services based on innovative technologies, and best practices. Brass Foils Market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in intensified competition further.
Manufacturers offer a broad gamut of brass foils types, investing substantially to produce an extensive product line in a streamlined manner in their state-of-the-art infrastructure. Thus, they not only precisely meet the customers’ specifications but also build a favorable reputation in the market of having high- quality and experience.
Key players leading the Global Brass Foils Market include Rajshree Metals (India), Arcotech Ltd. (India), G.T. Metals & Tubes (India), Olin Brass (U.S.), Global Metals (U.S.), A.J. Oster (U.S.), Ekaton Ltd. (U.K.), Grand Metal Corporation (India), MP Metall Produkte (Germany), and AMCO Metall-Service GmbH (Germany)among others.
Industry Advancements/Related News
March 21, 2019 – Global Brass and Copper Holdings Inc., (the US), a leading distributor of specialized nonferrous products including a wide range of sheet, strip, foil, rod, tube, and fabricated metal and Wieland-Werke AG (Germany), a leading global suppliers of semi-finished copper and copper alloy products announced signing a definitive merger agreement.
According to the terms of the agreement, Wieland will acquire all the outstanding shares of GBC in an all-cash transaction. Both companies share an equal commitment to technology and R&D, providing innovative offerings and solutions. The agreement will allow the combined company to build on a legacy of leadership and long-term success with an increasing footprint, globally, creating opportunities for customers and employees.
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