Bronze Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

The global bronze market size reached around USD 10.29 Billion in 2024. The market is projected to grow at a CAGR of 3.20% between 2025 and 2034 to reach nearly USD 14.10 Billion by 2034.

Global Bronze Market Growth

During 2023, the availability of copper surged by 4%, equating to 61 million tons. This indicates the increasing application of copper in manufacturing alloys such as bronze. Among regions, Latin America accounts for 55.6% (730.9 million tons) of global copper reserves. Of this, nearly 573.9 million tons are found in Chile and Peru. The Asia Pacific and North America account for 21% and 10% of copper reserves respectively due to the presence of sites such as Grasberg in Indonesia and Oyu Tolgoi in Mongolia. Presence of robust copper reserves has driven market’s growth.

Moreover, with the expansion of the construction and infrastructure sector, bronze is expected to emerge as a critical raw material for architects, which in turn, can drive the overall bronze market share. The expansion of the global shipbuilding industry, driven by the proliferation of global trade is also expected to drive the market. China is expected to lead the global shipbuilding industry over the forecast period. As per the Chinese Ministry of Industry and Information Technology, shipbuilding recorded a y-o-y growth of 11.8% in China. New shipbuilding orders increased by 56.4% and reached 71.2 million dwt, accounting for 66.6% share of the world. These factors are propelling market growth.

Key Trends and Developments

Microstructure refinement of nickel aluminium bronze; the development of medium-entropy bronze alloy; increasing automobile production; and increasing demand for phosphor bronze are major trends impacting the bronze market expansion.

October 2024

Submer, a Spain-based start-up company raised USD 55.5 million to expand its business of providing data centre cooling solutions. This is expected to have a favourable impact on the demand for bronze, as it has extreme tolerance to high temperatures and possesses excellent corrosion resistance properties.

September 2024

The government of Germany announced an investment of EUR 1 billion into the establishment of a raw materials fund to secure its supply of critical minerals and resources central to driving economic growth. This can contribute to the bronze market development.

June 2024

The Japanese government aims to explore the depths of the Pacific Ocean lying within its exclusive economic zone to mine essential metals and minerals from 2025. This is expected to enhance the production of smartphones, EVs, and other electronic goods in the country.

June 2024

The Italian government approved a new decree under which an amount of EUR 1 billion from the sovereign fund of Minister for Enterprise and Made in Italy was allocated to different mining projects. This is expected to boost the performance of the mining industry and increase alloy production.

Microstructure refinement of nickel aluminium bronze

The addition of different quantities of tin in the NAB alloy can significantly improve its mechanical properties, such as tensile strength (28.4%) and hardness (69%). This is one of the key bronze market trends.

The development of medium-entropy bronze alloy

A group of researchers from China developed medium-entropy bronze alloys through an induction melting technique containing different quantities of tin. This substantially improved its wear resistance nature and mechanical properties.

Increasing automobile production

In 2022, nearly 85.4 million automobiles were produced worldwide, demonstrating a year-on-year growth of 5.7% from 2021. This is expected to increase the demand for bronze to produce engine components, thereby driving bronze market revenue.

Increasing demand for phosphor bronze

The rising demand for phosphor bronze can be attributed to the global shift towards sustainability, since phosphor bronze is a recyclable material with a lower environmental impact.

Global Bronze Market Trends

One of the significant trends in the market is the increasing global demand for automotives, particularly electric vehicles. As per the industrial analysis, Greater China produced 27.22 million units of automotives in 2022, followed by Europe (16,391 thousand units), North America (14,901 thousand), and Japan and South Korea (11,334). The sustained increase in automotive production worldwide is expected to increase the demand for bronze over the forecast period, since it’s used in the production of various automotive components.

Bronze Industry Segmentation

The report titled “Global Bronze Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Alloy Type:

• Aluminium
• Phosphor
• Silicon

Market Breakup by Application:

• Architectural Parts
• Musical Instruments
• Transportation
• Industrial
• Others

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Bronze Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the Asia Pacific is expected to grow at a CAGR of 3.6% because of rapid growth of the construction and manufacturing sector in the region.

Leading Companies in the Global Bronze Market

Major mining companies are expected to benefit from enhancing their budgetary allocation for exploration of new copper reserves. This can potentially favour the bronze market dynamics.

Aurubis AG

Aurubis AG was founded in 1886 and is headquartered in Hamburg, Germany. It annually produces over 1 million tons of copper cathodes. Besides, it’s the world's largest manufacturer of non-ferrous metals, apart from being a leading recycler of copper products.

Mitsubishi Materials Corporation

Mitsubishi Materials Corporation was founded in 1871 and is headquartered in Chiyoda, Tokyo. It is engaged in providing a wide range of engineering services to the medical, automotive, semiconductor, and electrical industries.

Proterial Metals, Ltd.

Proterial Metals, Ltd. was founded in 2023 and is headquartered in Tokyo, Japan. It is engaged in the manufacturing and marketing of automotive castings, speciality steel, rolls, magnetic materials, automotive components, and power electronics materials, among other products.

Marmetal Industries, LLC

Marmetal Industries, LLC was founded in 1965 and is headquartered in Pennsylvania, United States. It is engaged in supplying precision engineered components and corrosion resistant alloys to numerous industries, including shipbuilding, architecture, and aerospace, among others.

Other players included in the bronze market report are KME Germany GmbH, Wieland-Werke AG, Mueller Industries, National Bronze Manufacturing Co., Lebronze Alloys, and MetalTek International, among others.