Brass is widely used for its malleability, durability, excellent thermal electrical conductivity, strength and strong resistance to corrosion which makes it an ideal metallic alloy for various applications across a wide range of end-use industries. Brass Foil market is popularly used as a foil due to its characteristics mentioned above and their superiority over other malleable metals such as copper, nickel, and aluminum. Primarily used in electronics, automotive and construction industries, brass foils also find applications in defense, sports, and industrial machinery industries. Market Research Future has recently published a detailed report which offers unique insights on the brass foils market. The report has predicted a steady CAGR over the forecast period of 2022 to 2030. The rapid ongoing growth of the electrical and electronics market has been identified as a key factor promoting the considerable growth of the brass foils market.
The global market for electrical and electronics is expected to grow at a colossal pace and will likely value approximately over a trillion. The immense growth of this market and the associated industries where brass foil is in high demand is expected to motivate considerable market growth strongly. Growing demand for automobiles in developing economies and electric vehicles in well-developed economies is set to drive market growth further. Additionally, the global metal foils market is predicted to grow at a CAGR of 6.5% during the forecast period which indicates growth for the brass foils market.
The high price of copper is a key challenge that the brass foils market faces. However, brass alloy prices do vary based on the proportion of zinc to copper. Zinc is considerably cheaper than copper providing manufacturers with plenty of options to find a cost-effective brass alloy that performs optimally according to requirements.
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Market Segmentation
The global brass market has been segmented by type, end-use industry, and region.
By type, the market has been segmented into Oxygen-free High Conductivity Copper (OFHC), Electrolytic Tough Pitch (ETP) copper, Deoxidized High Phosphorous (DHP) copper, Deoxidized Low Phosphorous (DLP) copper.
By end-use industry, the market has been segmented into electrical electronics, automotive, construction, industrial machinery, and others. In 2016, the electrical electronics industry segment held almost half the market share of the total market.
By region, the market has been segmented into, North America, Latin America, Europe, and the Middle East Africa.
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Regional Analysis:
The Asia Pacific dominated the global market with the most significant market share and is also the fastest growing region during the forecast period. Accounting for over half the market share of the overall brass foils market, emerging economies such as India and China are leading market growth. There is a strong presence of key players in this region. Increasing demand for personal electric devices and automotive in emerging economies has made this region a lucrative market for brass foils.
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