Welding Consumables Market Overview:
According to the latest report by IMARC Group, titled “Welding Consumables Market Overview: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global welding consumables market size reached a value of US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2027, exhibiting a CAGR of 5.58% during 2022-2027.
Welding is a cost-effective method for joining metals and alloys efficiently in various manufacturing industries. Welding consumables are filler and flux materials used in the welding industry, where molten filler metals create a solid joint between two metals. In contrast, flux controls the oxidation of hot metals during this process. They also shield the molten weld from atmospheric contaminants and are widely utilized in arc welding applications across the construction, automobile, aerospace, and shipbuilding industries. Steel, nickel, copper, rutile, ilmenite, and aluminum are the most commonly used welding consumables across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Competitive Landscape with Key Players:
Voestalpine AG, Colfax Corporation, The Lincoln Electric Company, Air Liquide, Hyundai Welding Co., Ltd., Obara Corporation, Panasonic Corporation, Illinois Tool Works Inc., Denyo Co., Ltd., Fronius International GmbH, Tianjin Bridge Welding Materials Co., Ltd., Kemppi Oy, Arcon Welding Equipment, etc.
The global welding consumables market is primarily driven by significant growth in the automotive and transportation sectors, wherein welding consumables form an essential part of producing lightweight and high-quality vehicle parts. Also, the rapid expansion of the construction industry fosters the demand for welded construction materials, which, in turn, is driving the market growth. Moreover, a considerable rise in the energy sector, foreign direct investments (FDI) in thermal and wind sectors, and continual improvements in welding automation technologies are further creating a positive outlook for the market.
Global Welding Consumables Market 2022-2027 Analysis and Segmentation:
Breakup by Product Type:
- Stick Electrodes
- Solid Wires
- Flux Cored Wires
- Saw Wires and Fluxes
Based on the product, the market has been classified into stick electrodes, solid wires, flux cored wires, SAW wires and fluxes, and others. Amongst these, stick electrodes are the leading category of welding consumables across the globe.
Breakup by Welding Technique:
- Arc Welding
- Oxy-Fuel Welding
- Resistance Welding
- Laser-Beam Welding
On the basis of the welding technique, the market has been segregated into arc, resistance, oxyfuel, ultrasonic and others. At present, arc welding accounts for the majority of the total market share.
Breakup by End-Use Industries:
- Industrial Equipment
The market has been analyzed on the basis of the end use industries into construction, automobile, energy, shipbuilding, aerospace, industrial equipment and others. Currently, the construction sector exhibits a clear dominance in the market.
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America represents the largest market for welding consumables around the world. Other major markets include Asia Pacific, Europe, Latin America, and Latin America.
Key Highlights of the Report:
- Market Performance 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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