Brass Market

Brass Market Analysis

The Brass Market size is estimated at 1.30 Million tons in 2025, and is expected to reach 1.71 Million tons by 2030, at a CAGR of greater than 5% during the forecast period (2025-2030).

The COVID-19 pandemic initially had a negative impact on the brass market. Lockdowns led to temporary closures of production sites, and end-user industries scaled back their demand. However, the medical equipment sector saw a silver lining, with heightened demand for brass components, thanks to their microbial resistance.

• Rising demand from the construction industry, the expanding electronics industry, and the increasing applications in the renewable energy industry are poised to drive the brass market growth further ahead.
• Price fluctuations in raw materials like copper and zinc, and the energy-intensive manufacturing process of brass might hinder the market expansion.
• The development of sustainable and efficient manufacturing processes, customized brass products, and the emergence of specialty alloys are poised to open substantial opportunities for the brass market.
• Asia-Pacific region dominates the market and is expected to witness the highest growth during the forecast period.

Brass Market Trends

Expanding Electrical and Electronics Industry

• Brass plays a pivotal role in the electrical and electronics industry, showcasing their versatility and significance.
• Brass's exceptional electrical conductivity and malleability make it a staple in electrical and lighting fixtures, from sockets and switches to intricate lighting designs. Typically, brass boasts an electrical conductivity between 15 to 40 million Siemens per meter (MS/m), translating to about 25-28% of pure copper's conductivity, benchmarked against the International Annealed Copper Standard (IACS).
• Semiconductors are an important component of many commonly used electronic devices, including smartphones, tablets, and PCs. As per WSTS, in 2024, semiconductor sales reached USD 626.86 billion worldwide. Forecasts for 2025 suggest the market will grow by 11.2% to USD 697.18 billion.
• The largest electro and digital industry market is Asia, which reached a value of EUR 3,556 billion (USD 3,851.34 billion) in 2023. It therefore accounts for 61% of the global market. According to the ZVEI forecast, an increase of 2% in 2023 could be followed by 4% in 2025. Within Asia, China's electro market is by far the largest national market worldwide and was worth EUR 2,214 billion (USD 2,397.88 billion) in 2023.
• JEITA's reports indicated a significant surge from 2014 to 2024. Semiconductor production jumped from USD 335.8 billion to USD 601.2 billion. Consequently, this led to an average annual growth rate of 7.1% in global production during that timeframe.
• As technology evolves, the demand for brass is set to rise. Sectors like renewable energy and electric vehicles, which prioritize efficient and durable materials, are driving this trend.
• Consequently, these factors are likely to influence the market during the forecast period, leading to a surge in demand for brass in the electrical and electronics industry.

The Asia-Pacific Region to Dominate the Market

• Asia-Pacific accounted for the major market share of brass and is expected to continue dominating the market during the forecast period. China, India, and Japan are the major consumers of brass in the region and the world.
• Moreover, infrastructure projects - spanning buildings, roads, bridges, and utilities, are increasingly turning to brass components. These components, essential for plumbing, electrical fittings, and architectural hardware, amplify the demand for brass in the Asia Pacific region.
• According to the ZVEI Foreign Trade Report Special for China 2024, China boasts a production volume of EUR 2,852 billion (USD 3,120.66 billion), accounting for 48.8% of the world's electro output.
• With the global shift towards electric vehicles (EVs), the semiconductor sector is pivoting towards eco-friendly equipment. This move is poised to amplify demand, signaling another phase of double-digit growth in 2025. Consequently, in Japan, JEITA anticipates a 3% rise in domestic output, forecasting it to hit JPY 11,646.3 billion (USD 77.36 billion) in 2025, up from JPY 11,298.4 billion (USD 76.47 billion) in 2024.
• China's rapid growth in the aerospace and defense sectors have spurred a heightened demand for brass, cementing the country's role as a pivotal player in the global brass supply chain.
• India, China, Japan, and Vietnam dominate the global landscape as the top importers of Scrap Brass.
• Therefore, the demand for brass is estimated to increase at the fastest rate in the Asia-Pacific region over the forecast period.

Brass Industry Overview

The brass market is highly fragmented and some of the major players are Aviva Metals, Global Brass Industries, Metal Associates, SIYARAM RECYCLING, and SPRAYKING LIMITED.

Brass Market Leaders

Brass Market News

• November 2024: Siyaram Recycling Industries Limited secured a domestic order worth INR 3.40 crore (USD 393.75 thousand) for 60 tons of brass scrap and an international order of USD 850 thousand for 150 tons of Brass Billet. These contracts highlight the company's strong domestic presence and growing international footprint in recyclable materials supply.
• October 2024: Sprayking Limited's subsidiary, Narmadesh Brass Industries Ltd, secured a USD 25 million export order for 50 tons of brass billets from a Dubai-based firm, with shipments to China. This milestone highlights the company’s global expansion efforts, quality commitment, and ability to meet rising international demand for brass components.