Brass Rods Market Size, Share, Growth, and Global Industry Analysis by Type (Ordinary Brass Rods and Special Brass Rods), By Application (Machines, Automotive, Electric Applications, and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2032

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BRASS RODS MARKET REPORT OVERVIEW

The global brass rods market size was valued at USD 16.06 billion in 2023 and is projected to touch USD 20.27 billion by 2032, at a CAGR of 2.6% during the forecast period. Asia-Pacific holds leading position in brass rods market share in 2023.

Brass rods are used to produce force components such as washers, pins, pipe, rivets, screen, radiator parts, nuts, and pressure gauge. Solid rods are strong pieces of brass that are cut into specific diameter and length that are used where corrosion resistance and electrical conductivity are taken into account. Brass is a metal alloy that is made from copper and zinc. It is stronger and harder than copper and can be shaped into various shapes.

The growing demand for brass rods is due to rising industrial applications and interior designing. They are used in various sizes and are used in sanitary ware, automotive, plumbing, architecture, electronics, and industrial equipment. The rising use of such rods in construction activities is expected to create more demand in the market. They are popular in marine constructions due to their corrosion-free properties. Augmenting industrialization is expected to rasie the demand for such rods exponentially.

COVID-19 Impact: Halt on Construction Industry to Obstruct Market Development

The global COVID-19 pandemic has been unprecedented and staggering, with brass rods experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the brass rods market growth and demand returning to pre-pandemic levels once the pandemic is over.

The effects of the COVID-19 pandemic are already being felt on a global level, the global brass rods market is noticeably influenced. In 2020, COVID-19 has had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. The demand for such rods is derived from the construction industry where it is used in interior designing. Halt on all types of construction activities led to decline in the demand for such rods. New production activities of the brass were also paused due to lockdown measures which affected the demand for the product.  

LATEST TRENDS

"Trend for ‘Nostalgic Comfort’ to Impel Market Growth"

Growing trend for ‘nostalgic comfort’ is estimated to escalate the growth of the global brass rods market. Apart from industrial applications, manufacturers have been using such rods for interior designing. In interior designing the concept of nostalgic comfort is trending and getting prominence in the field of interior designing. Due to this, interior designing companies have been using such rods to capitalize on the concept. Trend for using quality brass is increasing due to its appearance and has become a metal of option. They are used for lighting designers to make chandeliers. The trend to use it in interior designing due to its quality and uses is expected to pose as opportunity for market growth.  

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BRASS RODS MARKET SEGMENTATION

• By Type

Based on type; the market is divided into ordinary brass rods and special brass rods.  

• By Application

Based on the application; the market is divided into machines, automotive, electrical appliances, and others.  

DRIVING FACTORS

"Increasing Construction Activities to Surge Market Growth"

The global brass rods market growth is projected to rise due to rising construction activities. Increasing rate of architectural and plumbing activities in the construction activities has given rise to the demand for such rods. They are used in construction activities due to its strength, malleability, ductile nature, and their lightweight. They are used for modern decorative purposes due to its gold-like decorative look. They are also used to building hardware such as door handles, decorative knobs, and furniture hardware.  Popularity of brass in marine construction due to its anti-corrosion properties. Such applications in the construction sector are expected to drive the market demand.  

"Uses in Electrical Components to Widen Demand "

The popularity of such rods derives from increasing applications in electrical components to make electric panel board switches, relays, sockets, plug pins, and sockets. They are primarily used due to their electrical conductivity. The use of brass in electrical components is due to its properties such as malleability and non-magnetism. The cost of brass is comparatively less than silver and gold. Applications in electrical components are anticipated to drive the demand for the market.

RESTRAINING FACTORS

"Presence of Alternatives to Hamper Market Growth"

There are a number of factors that can push the growth of the market. Restraining factors such as the presence of various alternatives. There are many alternative materials and alloys that can be used in the construction. In addition, absence of metal extraction can also act as a restraint on the market. Such factors are expected to reduce the demand for the product in the market.

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BRASS RODS MARKET REGIONAL INSIGHTS

"Asia Pacific to Lead Market Owing to Various Applications"

Asia Pacific holds the largest part of the global brass rods market share due to increasing applications in electrical and electronic applications and plumbing fittings. Increasing construction activities in the region for commercial and residential infrastructure in countries such as China, India, and Indonesia. Technological developments in the manufacturing processes in the region as it has high demand for high strength materials in various industries. Increasing electrification in the countries of the region is expected to fuel the demand for such alloys.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

LIST OF TOP BRASS RODS COMPANIES

• Wieland (Germany)
• Daechang (Korea)
• Ningbo Jintian (China)
• Tongling Nonferrous Metals (China)
• KME (Italy)
• Hailiang Group (China)
• CHALCO (China)
• ALMAG SPA (Italy)
• Mueller Industries (U.S.)
• Ningbo Jinlong (China)
• GUODONG (China)
• Sanchuan (China)

INDUSTRIAL DEVELOPMENT

April 2019: Wieland Group has acquired Global Brass and Copper Holding Inc. The acquisition will merge the operations of the two companies with diverse product offerings. It will help the companies in serving their customers more efficiently.

REPORT COVERAGE

This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.