Braze Alloys Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2027: Harris Products Group and Lucas-Milhaupt, Inc are key players.

Braze Alloys Market is expected to grow at a CAGR of 7.25% to reach a market size worth US$6,538.719 million by 2027.

The prime factors propelling the growth of the braze alloys market are the growing number of brazing applications in various high-end industries, the expanding aerospace and military sector, the increasing manufacturing of commercial aircraft, and the growing electrical and electronics industries, along with the expanding construction industry.

As per the report, the braze alloy market is expected to grow steadily during the forecast period.

The aerospace and defense industries are growing strongly with rising air passenger traffic and global military spending. Rising global tensions, geopolitical risks, and a significant increase in defense expenditures by regional nations other than the United States, such as China, India, and Japan, are expected to support the military industry's expansion over the forecast period. According to the Stockholm International Peace Research Institute (SIPRI), China's military expenditure was approximately USD 252 billion in 2021, an increase of 6.8% from 2020. In addition, commercial aircraft production and manufacturing are growing, which is boosting industry expansion. Rapid construction activity is expected to drive industry growth, particularly in emerging nations worldwide, due to ongoing industrialization and urbanization. During the forecast period, the industry's growth is driven by rising infrastructure spending on new construction projects, improvement projects, and repair construction operations. According to the American Institute of Architects (AIA), in 2022, there will be an increase in spending on nonresidential buildings by 3.8%, commercial buildings by 6.4 %, and residential buildings by 3.6%.

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The braze alloys market has been segmented into base material, product form, industry vertical, and geography.
Based on base material, the market has been classified based on nickel, cobalt, silver, gold, aluminum, and copper. Based on product form, the classification has been done into braze powder, braze paste, braze tape, braze preforms, braze foil, and braze rod and wire.
By industry vertical, the market has been classified into automotive, aerospace and defense, electrical and electronics, and others.

By region, North America and Europe are expected to retain a considerable market share due to adopting technological innovations. In addition, a high market growth rate is expected for the Asia Pacific region during the forecast period due to the region's expanding construction, electronics, and automotive sectors.

The COVID-19 pandemic hurt the market as the lockdown stopped production and decreased end-user demand. A reduction in flight operations reduced aircraft manufacture, and the production of automobiles had been stopped in Europe and APAC, significantly reducing the need for brazing alloys. The COVID-19 outbreak had a severe financial impact on the market for braze alloys. However, there has been a gradual increase in demand for braze alloys among various end users post-COVID.

As a part of the report, the major players operating in the braze alloy market that have been covered are Aimtek, Inc., Fusion, Inc., The Gasflux® Company, Indium Corporation, Belmont Metals, Harris Products Group, Lucas-Milhaupt, Inc., Oerlikon Group, and Saru Silver Alloy Private Limited.

This Braze Alloys Market has been analyzed into the following segments:

• By Base Material

o Nickel
o Cobalt
o Silver
o Gold
o Aluminum
o Copper

• By Product Form

o Braze Powder
o Braze Paste
o Braze Tape
o Braze Preforms
o Braze Foil
o Braze Rod and Wire

• By Industry Vertical

o Automotive
o Aerospace and Defense
o Electrical and Electronics
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Spain
• Others

o Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others

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