LONDON–(BUSINESS WIRE)–The global silver- and gold-based brazing materials market is expected to grow at a CAGR of 3.11% during the forecast period to reach USD 958.6 million in 2020, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global silver-and gold-based brazing materials market for 2016-2020. Based on application, the market is classified into the following segments: HVAC&R, automotive, electricals and electronics, and others.

Technavio’s research study segments the global silver- and gold-based brazing materials market into the following regions:

• Americas
• EMEA
• APAC

EMEA: largest market for silver- and gold-based brazing materials

EMEA accounted for the largest revenue share in the silver- and gold-based brazing materials market in 2015 with 35% of the overall market. This growth is attributable to the high cost of brazing materials than in other regions. The region is anticipated to be the second fastest growing market for silver- and gold-based brazing materials during the forecast period.

“A strong demand for silver- and gold-based brazing materials is predicted to emerge from Eastern Europe over the next five years. On the contrary, the demand for these materials is expected to be low in Western Europe. Russia is expected to be a prime emerging market in the region,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for the metals and minerals sector.

The report has projected the silver- and gold-based brazing materials market in EMEA to grow at a CAGR of 3.05% during the forecast period to reach USD 334.4 million in 2020.

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Silver- and gold-based brazing materials market in the Americas

The silver- and gold-based brazing materials market in the Americas was valued at USD 279.6 million in 2015 and is anticipated to grow at a CAGR of 2.83% during the forecast period. The market is expected to grow steadily during the forecast period. The US is the primary market for brazing materials in the region. Innovations in product development and the introduction of newer products drive the market growth in the country. Brazil is another country which is expected to become a prominent market for silver- and gold-based brazing materials during the forecast period as well.

“Vendors in the market have also increased their expenditure on R&D to develop products for niche applications. Such innovations and strong customer support are expected to drive market growth in the US during the forecast period,” says Chandrakumar.

Silver- and gold-based brazing materials market in APAC

The silver- and gold-based brazing materials market in APAC was valued at USD 254.9 million in 2015 and is anticipated to grow at a CAGR of 3.5% over the forecast period.

Technavio anticipates APAC to be the fastest growing market for silver- and gold-based brazing materials during the projected period. This is primarily owing to an increase in the demand from HVAC&R and electrical and electronics segments that are growing rapidly. The increase in demand from India and other emerging countries in APAC will likely contribute to the market growth in the region.

Some of the top vendors in the global silver- and gold-based brazing materials market highlighted in the report are:

• Lucas-Milhaupt
• Johnson Matthey
• Morgan Advanced Materials

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