The market value for the Brass Rod Market reached USD 13.42 Billion in 2022 and is projected to achieve USD 17.81 Billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period. A key factor driving the growth of market revenue is the increasing demand for brass rods across diverse end-use industries, including automotive, construction, electrical, and electronics. Brass rods are favored in these industries due to their unique qualities, including exceptional strength, corrosion resistance, and malleability, making them suitable for a wide range of applications.
The market is expected to experience consistent growth, propelled by the manufacturing sector’s growing emphasis on environmentally friendly and sustainable practices. Brass rods, characterized by a low carbon footprint and 100% recyclability, are anticipated to witness increased demand in the coming years. Another contributing factor to the projected growth is the rising demand for brass rods in the plumbing sector, where they find applications in valves and pipe fittings.
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Brass rod demand has decreased as a result of supply chain interruptions caused by the COVID-19 outbreak and a general slowdown in numerous industries. The demand for brass rods is anticipated to increase as the world begins to recover from the pandemic and economies begin to stabilise.
Due to rising demand from numerous end-use industries, including plumbing, electrical and electronics, automotive, and construction, the brass rod market is predicted to expand significantly. Decorative hardware, electrical connectors, and fasteners are just a few uses for brass rods. Brass rod utilisation is anticipated to rise in the coming years as the manufacturing sector places more and more emphasis on environmentally friendly and sustainable practises. Brass rods are an environmentally friendly substitute for other materials due to their recyclable nature and minimal carbon impact.
Strategic Development:
- In 2021, Hitachi Metals announced its plans to invest in a new copper and copper alloy production facility in Japan to expand its copper products business. The investment is aimed at meeting the growing demand for copper products in various industries, including electronics and construction.
- In 2020, Metal Gems (India) announced its plans to invest in a new production plant for brass rods. The investment is aimed at expanding the company’s product offerings in the global market and catering to the growing demand for high-quality brass rods.
- In 2020, Citizen Metalloys Ltd announced its acquisition of the copper and brass products business of Vedanta Limited. The acquisition is aimed at expanding the company’s product portfolio and strengthening its position in the global market.
- In 2020, Mahavir Metal Corporation announced its expansion plans for a new brass rod manufacturing unit in Gujarat, India. The expansion is aimed at catering to the growing demand for high-quality brass rods in the global market.
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Moreover, the report provides insight into how the Brass Rod market will develop between 2023 and 2032. Companies operating in the Brass Rod market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Brass Rod market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Brass Rod market and estimates market progress in terms of value (USD million) and volume (thousand units).
Competitive Landscape:
- Metal Gems (India)
- Harsh Steel
- Hitachi Metals
- Citizen Metalloys Ltd
- Sarthak Metals
- Hindustan Copper Limited
- Metal Alloys Corporation
- Metallica Industries
- Bright Metals
- Mahavir Metal Corporation
Market Segmentation:
| By Product Type Outlook |
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| By End-use Industry Outlook |
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Key Questions Answered in This report on the Brass Rod Market
The report provides detailed information about the Brass Rod market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Brass Rod market, so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue from the advantages of the product?
- What will be the Y-o-Y growth of the Brass Rod market between 2023 and 2032?
- What are the winning imperatives of market frontrunners in the Brass Rod market?
- Which end-user is expected to undertake maximum adoption of the product during the forecast period?
Research Methodology: Brass Rod Market
The research methodology adopted by analysts to compile the Brass Rod market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Brass Rod market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Brass Rod market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Brass Rod market.
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