What is Global Brass Rods Market?
The Global Brass Rods Market is a comprehensive study of the worldwide market trends and growth prospects, focusing on the brass rods industry. Brass rods, primarily made from copper and zinc, are known for their durability, strength, and resistance to corrosion. They are widely used in various industries due to their excellent machinability and electrical conductivity. The global market for these rods is vast and diverse, encompassing a wide range of applications and industries. The market's value was estimated at US$ 16060 million in 2022, and it is projected to reach US$ 19260 million by 2029. This indicates a steady growth rate, with a Compound Annual Growth Rate (CAGR) of 2.6% expected from 2023 to 2029.
Ordinary Brass Rods, Special Brass Rods in the Global Brass Rods Market:
The Global Brass Rods Market is segmented into two main types: Ordinary Brass Rods and Special Brass Rods. Ordinary Brass Rods are commonly used in general applications due to their excellent machinability and good strength. On the other hand, Special Brass Rods are designed for specific applications that require unique properties. These rods are often customized to meet the specific needs of various industries. The top five manufacturers in this market, namely Wieland, Daechang, Ningbo Jintian, Tongling Nonferrous Metals, and KME, hold a combined sales revenue market share of 30%. Among these, Wieland leads the industry with a 7% sales market share.
Machines, Automotive, Electric Appliances, Others in the Global Brass Rods Market:
The usage of brass rods is widespread, finding applications in machines, automotive, electric appliances, and others. In machines, brass rods are used due to their excellent machinability and strength. They are used in the automotive industry for their corrosion resistance and durability. In electric appliances, brass rods are used for their superior electrical conductivity. Other applications include construction, where brass rods are used for their aesthetic appeal and resistance to corrosion. Despite the diverse applications, the market's growth is primarily driven by the increasing demand from the automotive and electrical appliances industries.
Global Brass Rods Market Outlook:
The market outlook for the Global Brass Rods Market is promising. The market was valued at US$ 16060 million in 2022 and is projected to reach US$ 19260 million by 2029. This represents a CAGR of 2.6% during the forecast period from 2023 to 2029. The market is dominated by five major manufacturers: Wieland, Daechang, Ningbo Jintian, Tongling Nonferrous Metals, and KME. These companies collectively account for 30% of the market's sales revenue. Wieland, with a 7% sales market share, is the industry leader. The steady growth of the market is a testament to the increasing demand for brass rods in various industries, particularly in automotive and electrical appliances.
| Report Metric | Details |
| Report Name | Brass Rods Market |
| Accounted market size in 2022 | US$ 16060 in million |
| Forecasted market size in 2029 | US$ 19260 million |
| CAGR | 2.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Wieland, Daechang, Ningbo Jintian, Tongling Nonferrous Metals, KME, Hailiang Group, CHALCO, ALMAG SPA, Mueller Industries, Ningbo Jinglong, GUODONG, Sanchuan |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
