Brass Foils Market | Share, Size, Trend, Market Price, Industry Growth, Leading Player and Region – Forecast To 2023

Posted February 5, 2021 by Marketresearchfuture

Brass Foils Market | Share, Size, Trend, Market Price, Industry Growth, Leading Player and Region – Forecast To 2023
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.
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Last Updated February 5, 2021