Europe Brass by USD Mn Value Market

The Europe brass market is projected to register healthy growth during the forecast period, 2020–2025. The market was valued at USD 5,519.8 million in 2019 and is projected to register a CAGR of 3.63% to reach USD 7,801.2 million by the end of 2030. In terms of volume, the market was sized at 834.74 kilotons in 2019 and is likely to exhibit a CAGR of 2.53% to reach 1,048.70 kilotons by the end of 2030. The increasing demand for brass in the construction industry is a major factor driving the market. The growth of the electronics and electrical industry in the coming years is further expected to boost the demand for brass in the footwear industry. The growth of the market is driven by the increasing application of brass in consumer goods due to its excellent resistance towards corrosion and durability.

According to Wantstats analysis, the Europe brass market has been segmented based on type, product, application, and country. Based on type, the Europe market has been divided into white brass, alpha brass, alpha-beta brass, beta brass, and gamma brass. The alpha brass segment accounted for the largest share of 31.68% in 2019 due to their high consumption in the construction and electronics industry. The segment was valued at USD 1,749.2 million in 2019; it is expected to register a CAGR of 4.11% to reach USD 2,601.0 million by the end of 2030. In terms of volume, the segment was sized at 262.39 kilotons in 2019 and is projected to exhibit a CAGR of 3.01% to reach 347.19 kilotons by the end of 2030.

By product, the Europe Brass market has been classified into rods, bars, coils, sheets & plates, tubes & pipes, and others. The rods segment dominated the Europe brass market with a market share of 29.8% by value in 2019 due to their growing consumption across the region, especially across Turkey, Spain, and Italy. The segment was valued at USD 1,645.1 million in 2019; it is expected to register a CAGR of 4.07% to reach USD 2,435.3 million by the end of 2030.

By application, the Europe market has been segmented into building and architecture, industrial, marine, plumbing, electrical and electronics, consumer goods, and others. The building and architecture segment dominated the Europe brass market with a market share of 33.1% by value in 2019 due to their growing development of infrastructure across the region. The segment was valued at USD 1,827.2 million in 2019; it is expected to register a CAGR of 3.98% to reach USD 2,678.4 million by the end of 2030. In terms of volume, the segment was sized at 273.16 kilotons in 2019 and is projected to exhibit a CAGR of 2.88% to reach 356.27 kilotons by the end of 2030.

Germany held the largest share of 20.98% in 2019 due to high availability of raw materials, rapid industrialization, and commercialization in the region, especially with the growth of the electronics industry, it is expected to increase the consumption of brass during the review period. The market was valued at USD 1,158.4 million in 2019 and is expected to exhibit a CAGR of 4.13% to reach USD 1,725.8 million by the end of 2030. In terms of volume, the regional market was sized at 173.16 kilotons in 2019 and is projected to register a CAGR of 3.04% to reach 229.88 kilotons by the end of 2030.