Incessant rise in the consumption of electric and electronic device have made a positive influence on the growth of the brass rods market as, brass rods have high corrosion resistance along with conductivity. This is anticipated to help the brass rods market to reach new heights. Brass rods which have impeccable drilling and cutting performance in comparison to other metals is likely to remain popular in electric and electronic device market during the assessed period.
Over the time years, friction has raised concerned of various manufactures as it slows down the progress in the factory. Surge in demand for material which have low friction is augmenting the sales of low friction material. Brass rods is considered to be a material with minimal friction. This have aided the market to grow extensively. Apart from these, owing to rapid industrialization along with incessant rise in construction activities have compelled manufacturer to look for materials which are light weight with strength precision. Brass being light in weight is gaining immense popularity among numerous industries. Other properties such as its high resistance to wear coupled with high mechanical strength is promoting the market to grow exponentially. These factors have made brass rods to be used for manufacturing ship parts, precision instruments, and some appliance parts.
Which Type of Brass Rod are Gaining Traction in the Global Market?
On the basis of type, global brass rods market is segregated into special brass rods and ordinary brass rods. Of these, the brass rods market is witnessing a significant uptake for special brass rods from various manufacturers of valves and their other components. Consumption of brass rods in fluid-handling manufacturing units are also growing exponentially owing to brass’s properties to withstand more pressure and also have a better life expectancy when come in contact with fluid materials. Players in the brass rods market are investing high banking on these properties of brass rod. For instance one of the global player Wieland-Werke, invested around US$20 mn in North America. This strategic was taken up by the company to support its growth plan of its refrigeration and climate customers in the region.
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Which Region Holds the Major Share in the Market and why?
Rising number of automobile in North America is anticipated to make the region to hold maximum share. Increase in disposable income all across the region is anticipated to favor the growth of the brass rods market. On the other hand, Europe is likely to exhibit a steady growth owing to the significant contribution from Germany.