Braze Alloys Market OverviewBraze alloys market size is forecast to reach US$6.3 billion by 2027 after growing at a CAGR of 5.2% during 2022-2027. Globally, the increasing usage of braze alloys due to their adaptability to be used in automation, aerospace & defense, and also in industrial applications, in terms of their high efficiency and safety, will drive the market growth. Also, the development of new technologies such as vacuum brazing is likely to increase the market growth in the forecast period. Braze welding is mostly needed for joining steels and cast iron, with lower temperatures requirement, by the oxy-acetylene process. However, galvanic corrosion must be taken care of between the braze and the base metal, and especially while brazing together the dissimilar base metals. Also, hydrogen embrittlement must be avoided, which affects copper and copper alloys during heat treatment at high temperatures, in an atmosphere containing oxygen and hydrogen.

COVID-19 ImpactThe COVID 19 outbreak widely affected the building and construction, electrical & electronics, and automotive industries over 2020. Owing to the nationwide lockdown, the production process of various goods in these industries declined due to the non-functioning of the manufacturing plants. Economies of each sector got affected and resulted in stagnation of activities across the sectors that use braze alloys. Business communities even faced several issues related to raw material shortage, labor shortage, and temporary closure of operations, supply chain disturbance, and many more. However, COVID-19 palindrome and nationwide lockdown had a lesser impact on the aerospace and defense industry since the budgets for the projects in this industry are allocated before the demand and supply. Due to which the need for the braze alloys remained unaffected in the aerospace and defense industry.

Braze Alloys Market Segment Analysis – By Filler Material TypeThe braze powder segment held the largest share in the braze alloys market in 2021. Dense, spherical, clean, and dry particles, are produced by the jet milling process by which braze powder is developed. Each particle contains precise amounts of all the elements of a particular alloy and the powder is uniform and homogeneous. Braze powder among all the other filler material forms, for any welding position, allows for a smooth welding process. Also, brazing filler metal powder is mixed with the binder, to form a paste filler form. Thus, the rising usage of brazing powder due to its alluring properties is further projected to drive the market for braze alloys over the forecast period.

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Braze Alloys Market Segment Analysis – By Base Metal TypeThe copper segment held the largest share in the braze alloys market in 2021. Copper-based braze alloys are generally required for brazing stainless steel, carbon steels, copper-nickel, and nickel. Copper-based braze alloys are best suited in making electrical connections, as compared to other base metals, as they provide good thermal and electrical conductivity. Hydrogen embrittlement must be avoided, which affects copper and copper alloys during heat treatment at high temperatures, in an atmosphere containing oxygen and hydrogen. Thus, with the rising demand for copper-based braze alloy, the market is anticipated to rise over the forecast period.

Braze Alloys Market Segment Analysis – By ApplicationThe electromechanical systems segment held the largest share in the braze alloys market in 2021. Braze alloys are primarily used in electromechanical systems due to their corrosion resistance, thermal conductivity, and electrical resistivity properties. In electromechanical systems such as power generators, transformers, breakers, electrical systems, armored heating elements, relays, electrical motors, electrical contacts, actuation, and control systems braze alloys are increasingly being used. Additionally, the rising usage of braze alloys in electromechanical systems with the surge in the aerospace sector has uplifted the growth of the braze alloy industry. For instance, in 2019, NASA's Space Launch System (SLS), a vehicle, planned to take a crewed mission to Mars, adopted RI-46 and RI-49, Morgan Advanced Materials' braze alloys, for future missions. Thus, with such driving demand for braze alloys in the electromechanical systems, the market is estimated to rise, over the forecast period.

Braze Alloys Market Segment Analysis – By End-Use IndustryThe aerospace & defense industry held the largest share in the braze alloys market in 2021 and is expected to grow at a CAGR of 5.7% during 2022-2027. In the aerospace & defense industry, in commercial aerospace engine components and advanced military aircraft, braze alloys are used. They are applied in fuel systems, high compressor and low turbine, high-pressure turbines, power units, and others. The need for braze alloys is increasing rapidly in emerging economies such as the United States, Canada, China, India, and other countries. For instance, in 2021, Canada Justin Trudeau, the Government of Quebec, and the Government of Canada, funded US$2 billion in the aerospace industry to drive the recovery of the sector. Thus, with the increasing investment in the aerospace & defense industry, the market for braze alloys will further rise over the forecast period.

Braze Alloys Market Segment Analysis – By GeographyAsia-Pacific region dominated the braze alloys market with a share of 38% in the year 2021. APAC region is one of the leading braze alloys manufacturers globally, with China and India being the key consumers and suppliers of brazing alloys. Braze alloys are used in the refrigeration system, heat exchanger, solar panel, lighting & light fixtures, radiators and towel warmers, apparel, jewelry, electromechanical systems, tubular solutions, and others. Also, steel and cast iron especially require acetylene braze welding of copper alloys. However, the rising growth of several end-use industries such as building & construction, aerospace & defense, electrical & electronics, automotive, and others, has uplifted the development of the braze alloys market. For instance, according to the World Bank, in 2020, the building and construction industry reached US$ 11.9 trillion, with an increase of about 4.2% from 2019. In the APAC region, demand for braze alloys with added value is growing substantially. Thus, the rising usage of braze alloys in various end-use industries will drive market growth in the forecast period.

Braze Alloys Market DriversRising Growth of the Building & Construction IndustryIn the building and construction industry, braze alloys find usage in infrastructure purposes for joining metals in construction activities. Manufacturers in the construction industry braze many components containing carbides such as concrete and stone cutting tools, carbide-tipped saw blades, valves for oil and gas exploration, carbide machining parts, and mining and impact tools. The demand for braze alloys has gradually increased with a rise in building and construction activities in emerging economies such as India, the United States, China, and other countries. Furthermore, in recent years, with the inclining growth of the building and construction industry the market for braze alloys is anticipated to rise. For instance, according to Invest India, by 2025, the building and construction industry is estimated to reach US$ 1.4 Tn. Thus, with the growth of the construction sector, the market for braze alloys is further anticipated to propel over the forecast period.

Increasing Demand For Braze Alloys In The Automotive IndustryGlobally, the automotive industry uses braze alloys due to their properties such as corrosion & galvanic corrosion resistance, smooth surface, lesser heat input, low part distortion, and electrical & thermal conductivity. By oxygen-acetylene process, braze alloys are used to join various types of steels, due to their low-temperature usage. They are applicable in air conditioning systems such as air conditioning lines and radiator coils, exhaust gas recirculation (EGR) coolers in diesel engines, and fuel lines. In cars, it is extensively used in exterior parts, where invisible joints with higher mechanical stability are desired, such as tailgates, roof joints, and C columns, utilized to achieve weight reduction, in improving the performance and fuel efficiency of vehicles. In the projected period, the rising production of automotive will raise the demand for braze alloys, which will drive the braze alloys market. For instance, according to the International Trade Administration (ITA), in China, the government anticipates automobile manufacturing to reach US$ 35 million by 2025, making China the world's largest vehicle market. Thus, increasing automation production will require more automotive components, which will drive the braze alloys market during the forecast period.

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Braze Alloys Market ChallengesChallenges Associated with the Usage of Aluminum Base Metals will Hamper the Market GrowthAluminum base metals involve several challenges during brazing. Aluminum base metals have a low melting temperature, which needs more accurate heat control. During heating, aluminum base metals do not give a clear indication to braze operators about the base metal reaching the proper brazing temperature, with the lack of color change. Also, aluminum brazing difficulties are related to heat transfer, since, premature melting of brazing alloy is undesirable. Additionally, on brazing, the use of flux is required, since aluminum forms a tough oxide, that can affect the appearance of the finished braze product and can add an entirely new step to the brazing process. Thus, such challenges related to the aluminum base metal used in braze alloys will create hurdles for the market growth in the forecast period.

Braze Alloys Industry OutlookTechnology launches, acquisitions, and R&D activities are key strategies players adopt in the braze alloys markets. Major players in the braze alloys market are:Johnson MattheyMorgan Advanced MaterialsHarris Products GroupAimtek Inc.BrazeBellman-MelcorLucas-MilhauptPrince & IzantVBC GroupOerlikon MetcoCupro Alloys Corporation and Others

Acquisitions/Technology LaunchesIn June 2021, Braze launched Independent Software Vendor (ISV) technology partnerships program, with the expansion of Braze Alloys, designed to meet the growing demand and take customer engagement to the next level.

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Key TakeawaysThe Asia Pacific dominates the braze alloys market owing to the rising growth and increasing investments in the building & construction industry. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), till December 2020, foreign direct investment (FDI) in the construction industry stood at US$ 23.99 billion.Rapidly rising demand for braze alloys in the automotive industry to achieve lightweight vehicles for improving the performance and fuel efficiency of vehicles is estimated to drive the braze alloys market growth in the upcoming years.The increasing usage of braze alloys in the electrical & electronics industry due to their low part distortion and corrosion resistance property is a critical factor driving the growth of the braze alloys market.However, challenges associated with the usage of aluminum base metals can hinder the growth of the braze alloys industry over the forecast period.

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