Global Brass Rods Market: Snapshot
The global market for brass rods is observing a significant surge in its valuation. The anti-corrosion property of brass, coupled with relatively high durability when compared to iron, has boosted the demand for brass rods, reflecting greatly on its overall sales. With the rising need for low friction materials, this market is likely to continue to witness substantial rise over the next few years.
Brass rods find extensive application in the production of various types of electrical and electronic components, such as valves, fasteners, stems and seats, and plumbing fittings. Automobiles, machines, and electrical appliances are the prime end users of these rods on account of their high degree of conductivity and corrosion resistance. The high strength, precision, and light weight of brass also make it suitable for precision instruments and ship parts, which is another important factor behind the surging sales of brass rods across the world.
The leading players in the global brass rods market are looking for expansion in emerging regional markets, such as Asia Pacific, Latin America, and the Middle East and Africa due to low labor cost and the ample presence of raw materials at cheaper rates. For this, they are increasingly involving into merger and acquisition agreements with regional players.
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Brass Rods Market: Overview
Brass is a metal alloy comprising copper and zinc. Proportion of copper and zinc can be varied in order to change the properties of brass. Brass is primarily used for decoration purposes, as it is bright gold-like in appearance. It is also employed in machines, where low friction is required. Furthermore, locks, gears, valves, bearings, doorknobs, and some other products are made from brass. As brass is non-flammable, it can also be used in places near flammable or explosive materials. As brass is not a ferromagnetic substance, it can be collected quickly from a mixture of many metals. Brass is also recyclable. Brass rods that get worn out after the machine functioning can be recycled.
Brass Rods Market: Dynamics and Trends
Demand for low friction materials in machines is increasing. This, in turn, is boosting the demand for low friction materials such as brass rods.
Demand for light weighted and high strength precision instruments has been increasing significantly. Brass is light in weight. Its wear resistance and mechanical strength is high. Thus, brass is used in the manufacture of precision instruments, ship parts, and some appliance parts. This is driving the brass market.
Brass rods are being used in the manufacture of various electric and electronic components due to their high conductivity and corrosion resistance. Demand for brass rods is rising in electronic products owing to their excellent cutting and drilling performance compared to that of other metal rods. This is expected to drive the global brass rods market in the near future.
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Brass Rods Market: Segmentation
In terms of type, the brass rods market can be segmented into ordinary brass rods and special brass rods. The special brass rods segment is expected to account for significant market share, due to the high demand from manufacturers of valves and their components. The demand for brass valves is highly increasing in the fluid-handling manufacturing units. As brass valves can withstand more pressure, and are suitable to be in contact with many kinds of fluid materials, the brass valves are used.
In terms of application, the brass rods market can be divided into fasteners, valve stems and seats, plumbing fittings, electronic components, valves, and others. The application of brass rods in the manufacture of valves and valve stems is estimated to increase significantly due to the growing need to reduce friction and prevent spoilage of valves.
Brass Rods Market: Regional Outlook
Increase in the number of automobiles in North America is projected to propel the demand for brass rods, as brass rods are used in automobiles to control friction. Rise in disposable income of the people in the U.S. and Canada is likely to augment the purchase of cars, thereby boosting the production of cars. This, in turn, is anticipated to propel the demand for brass rods in the region.
Europe is also estimated to account for significant share of the brass rods market. Germany is projected to hold key share of the brass rods market in the region. Many automotive companies operate in the country. Germany is also one of the prominent suppliers of automobiles to the world.
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Brass Rods Market: Key Players
Various small, medium, and large-scale players operate in the brass rods market. Prominent players in this market include Wieland-Werke AG, RS Components Ltd., Copper Development Association Inc., Mueller Industries, Inc., Chase Brass and Copper Company, LLC, and Hillman Brass & Copper.