Global Silver and Gold-based Brazing Materials Market to Reach US$ 7.8 Billion by 2032, Propelled by Significant Industrial Expansion

According to the latest report by IMARC Group, titled “Silver and Gold-based Brazing Materials Market by Product Type (Silver-Based Brazing Materials, Gold-Based Brazing Materials), Application (HVAC&R, Automotive, Aerospace, Medical, Electricals and Electronics, and Others), and Region 2024-2032”, the global silver and gold-based brazing materials market size reached US$ 4.6 Billion in 2023. Silver and gold-based brazing materials are specialized metal alloys used in the joining of metals through a brazing process. They serve as the filler material that melts at high temperatures and flows between the metal surfaces to be joined, forming a strong, leak-proof bond upon cooling. These materials are particularly renowned for their high tensile strength, thermal conductivity, and corrosion resistance. They offer excellent wettability and filler distribution, ensuring a strong and durable joint. Gold-based brazing alloys, on the other hand, are alloys known for their exceptional resistance to oxidation and corrosion, as well as their ability to perform well in high-temperature environments. Furthermore, both silver and gold-based brazing materials are highly malleable, which allows for ease of application even in complex geometries. The availability of these materials in various forms, such as rods, strips, and paste, offers flexibility in application methods. Silver and gold-based brazing materials find applications across a wide range of industries such as aerospace for aircraft engines and components, where high-temperature resistance and durability are essential, in automotive for the manufacturing of radiators, heat exchangers, and other engine components, and in electronics for electrical contacts, connectors, and other components that require high conductivity.

Global Silver and Gold-based Brazing Materials Market Trends:

The growth in manufacturing sectors such as aerospace, automotive, and HVAC systems represent one of the key factors driving the market growth of silver and gold-based brazing materials. Moreover, innovations in brazing technology, like fluxless brazing and controlled atmosphere brazing are propelling the growth of the market. Besides this, the booming construction industry, particularly in emerging economies is necessitating the use of durable, high-quality materials, and silver and gold-based brazing materials which, in turn, is fostering the market growth. Along with this, the improvements in global supply chain logistics have made it easier for manufacturers to source these precious metals, thereby reducing costs and driving the market growth. Additionally, the ability to tailor brazing materials for specific applications is making them more attractive to specialized industries, thus contributing to the market growth. Coupled with this, the growth in repair and maintenance activities across industries is catalyzing the demand for brazing materials. The globalization of manufacturing is helping local manufacturers tap into international markets, thereby bolstering the market growth. Furthermore, the development of eco-friendly brazing materials that align with global sustainability goals is creating a positive outlook for the market. Other factors such as R&D activities, infrastructure development and regulatory compliance are driving the growth of the market across the globe. Looking forward, the market value is projected to reach US$ 7.8 Billion by 2032, expanding at a CAGR of 5.8% during 2024-2032.

Market Summary:

• On the basis of product type, the market is segmented into silver-based brazing materials and gold-based brazing materials.
• On the basis of application, the market is divided into HVAC&R, automotive, aerospace, medical, electricals and electronics, and others. At present, HVAC&R holds the largest market share.
• Region wise, the market is segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Currently, North America holds the largest market share.
• The competitive landscape of the industry has also been examined, with some of the key players being Aimtek Inc., Indian Solder and Brazing Alloys, Johnson Matthey PLC, Linbraze S.r.l., Lucas-Milhaupt, Inc. (Steel Partners Holdings L.P.), Materion Corporation, Morgan Advanced Materials PLC, Pietro Galliani Brazing S.p.A, Prince & Izant Company, Sentes-BIR A.S., The Lincoln Electric Company, Umicore and WIELAND Edelmetalle GmbH (SAXONIA Group).

Report Scope:

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