Growing Demand for Advanced Medical Devices and Aerospace Applications Drives Precious Metal Tubing Market Growth

SkyQuest's Precious Metal Tubing Market report provides actionable insights for individuals interested in valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is produced and published concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.

Westford, USA,, April 25, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the precious metal tubing market will attain a value of USD 42.05 billion by 2030, with a CAGR of 8.5% over the forecast period (2022-2030). The global market is changing in several ways due to the increased demand for customized goods. Manufacturers are concentrating on offering customized items to suit these expectations as end users increasingly look for solutions with unique dimensions and qualities. The medical, aerospace, automotive and electronics industries all employ precious metal tubing in form of customized goods. For use in applications such as catheters, stents and pacemaker lead, the medical industry requires specially made-precious metal tubing. Customized precious metal tubing is used in the aerospace sector to create items, including hydraulic lines, fuel lines and engine components.

According to SkyQuest, the need for precious metal tubing is also being driven by the rising use of renewable energy sources, such as solar and wind power. To ensure dependable and effective functioning, these energy sources need cutting-edge components, including tubing made of precious metal. The market is significantly constrained by the high price of the precious metals required to produce tubing. Additionally, the accessibility of substitute materials and the growing use of composite materials in various applications may limit market expansion.

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Browse in-depth TOC on "Precious Metal Tubing Market"

Pages - 242

Tables - 68

Figures – 80

Precious metals are naturally occurring substances with a high luster. Compared to base metals, these metals are more economically valuable, scarce, complex and less reactive. Additionally, they are malleable, corrosion-resistant, ductile and adequate heat- and energy-conductors. As a result, they are used worldwide to produce jewellery, consumer electronics, cars, chemicals and medical equipment. Gold, silver, platinum, and palladium are a few examples of precious metals utilized as valuable investments.

Prominent Players in Precious Metal Tubing Market

Furukawa Electric Co., Ltd.

Materion Corporation

Precision Castparts Corp.

Kobe Steel Ltd.

BAOJI TITANIUM INDUSTRY CO., LTD.

Luvata

Sichuan Tianze Precious Metals Co., Ltd.

Ningbo Jintian Copper Tube Co., Ltd.

MKM Mansfelder Kupfer und Messing GmbH

KME Germany GmbH & Co KG

Poongsan Corporation

United States Brass & Copper

MTT Non-Ferrous Metals South Africa (Pty) Ltd

Cambridge Lee Industries LLC

Mueller Industries, Inc.

Marmon/Keystone LLC

RathGibson, LLC

Amari Precision Tubes

Plymouth Tube Co.

Sandvik AB

Outokumpu Oyj

Mueller Copper Tube Products, Inc.

Cerro Flow Products, LLC

Sterling Tubes & Valves Private Limited

Ningbo Powerway Alloy Material Co., Ltd.

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Electronics and Medical Devices Segment in the Precious Metal Tubing Market Is Expected to Grow Due to High Electrical Conductivity

The electronics and medical devices segments have been the largest users of precious metal tubing due to their wide range of applications, including in the production of sensors, implantable medical devices and connectors. Electrical contacts, connections and circuits are just a few benefits for using precious metal tubing in the electronics sector. It is also great choice for premium electronic components due to its high electrical conductivity, low resistance and corrosion resistance. Stents, catheters and implants are just a few examples from the medical device industry. In addition, its characteristics offers biocompatibility, resistance to corrosion and sterilizability.

North America is one of the world's largest markets for precious metal tubing due to significant end-use sectors in the region, including aerospace, automotive and medical devices. North America's largest market for precious metal tubing is the United States, which accounts for a sizeable portion of the global market. In North America, the aircraft sector is a significant end-user. Some of the biggest aerospace firms in the world, such as Boeing and Lockheed Martin, have their headquarters in this region. In addition, air conditioning systems, fuel lines, hydraulic and pneumatic systems, and other aerospace-related systems all require precious metal tubing in some capacity.

Aerospace and automotive Segment Dominate the Market Due to High-Performance Materials

The aerospace and automotive segment see a strong demand for precious metal tubing due to the need for high-performance materials with good heat and corrosion resistance. Hydraulic systems, fuel lines and instrumentation are listed as few uses in the aerospace sector. Precious metal tubing is a great option for airplanes because of its lightweight, high strength, and corrosion resistance. Fuel lines, brake lines, and exhaust systems are just a few uses for precious metal tubing in the automotive sector.

The market growth for Asia Pacific is anticipated to grow fastest in the global scenario. Several reasons, including the rising demand for electronics, automobiles and renewable energy sources in countries such as China, Japan and India fuel the market growth. In addition, the demand for passenger automobiles and commercial vehicles is propelling the rapid growth of the automotive sector in Asia Pacific. Fuel lines, brake lines and air conditioning systems are just a few automotive-related applications for precious metal tube. The market in the region is expanding due to the rising demand for these applications.

A comprehensive analysis of the major players in the Precious Metal Tubing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Key Developments in Precious Metal Tubing Market

In January 2022, Austria's Ulbrich Stainless Steels & Special Metals, the industry's top producer of precious metal tubing announced that it has enlarged its production plant to fulfil the rising demand for premium tubing.

In 2021, The Materion Corporation's new range of precious metal tubing for medical purposes is intended to offer better strength and corrosion resistance than conventional tube materials which was announced in October.

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Key Questions Answered in Precious Metal Tubing Market Report

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