The global Welding Materials market size is expected to reach close to USD 17.82 Billion by 2029 with an annualized growth rate of 4.3% through the projected period.
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"The Global Welding Materials Market 2019-2029 (USD Million)")
Welding is now the universally accepted method of permanently joining all metals. In some respects, it might be considered a mature industry but it is still a growing industry. The true impact of welding on the metalworking fluids industry should be measured in the value of the parts produced by welding, the amount of money saved by the use of welding over other metal fabrication processes, and in the value of products made possible by welding. Some of the metals used for the production of welding consumables are copper, nickel, steel, among others. Safety equipment like gloves, helmets, and blankets are also required in welding to withstand hazardous heat, sparks, and glare generated during the process. To improve efficiency and accuracy during welding tasks, welding tables and accessories are used.
The global welding materials market size is predicted to reach over USD 17.3 Billion by 2028. This can be ascribed to the development of the transportation industry and growth in the building and construction activities in emerging economies such as China and India. This is expected to have a positive impact on the utilization of welding materials. Besides, the growing demand for welded steel for the construction of residential and commercial buildings is also the key factor driving the market growth for welding materials.
However, environmental impact of welding materials, shortage of skilled labor, and high labor cost are hampering the market growth. Furthermore, welding techniques such as laser welding and ultrasonic welding are witnessing increasing adoption, which is likely to provide lucrative development opportunities for the welding materials market in the forthcoming years. These techniques are becoming increasingly popular in end-use industries where precision and accuracy of the joints have high importance, such as electric appliances, robotic appliances, and moving automotive parts.
Welding Materials Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2029 |
| Study Period | 2018-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 17.82 Billion |
| Growth Rate | CAGR of4.3% during 2021-2029 |
| Segment Covered | Product Type, End- User, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Ador Welding Ltd.,Air Liquide,Air Products and Chemicals Inc.,Colfax Corporation,Illinois Tool Works Inc.,The Linde Group,Praxair Technology Inc.,The Lincoln Electric Company,Gedik Welding |
Key Segments of the Global Welding Materials Market
Type Overview, (USD Million)
- Electrodes & Filler Materials
- Fluxes & Wires
- Gases
Technology Overview, (USD Million)
- Arc Welding
- Oxy-Fuel Welding
- Resistance Welding
- Others
End-Use Industry Overview, (USD Million)
- Transportation
- Building & Construction
- Heavy Industries
- Others
Regional Overview, (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global welding materials market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global welding materials market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the welding materials industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Type, Technology, and End-use Industry. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global welding materials market. The report will benefit Every stakeholder involved in the welding materials market.
- Managers within the welding materials industry looking to publish recent and forecasted statistics about the global welding materials market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global welding materials market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The global welding materials market size is expected to reach over USD 17.82 Billion by 2029.
Fluxes & Wires type segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years.
APAC is the fastest-growing region in terms of both population and economic growth.
Over the past few decades, the rising number of activities in building and construction, and automobiles has led to the growing demand for welding materials. The technological advancements in the automobile industry will also aid the growth of this market. The automotive industry makes use of welding materials in various processes, including the manufacturing of the high quality, light-weight, and fuel efficient components.
One of the latest trends in the global welding materials market is the use of new materials, which results in reduced weight of the overall finished products. This will drive the welding materials market. The manufacturing of new welding equipment and materials will push the growth of this market. On the other hand, the use of welding products can pose safety and health issues among operators and this will restrict the growth of the market as regulatory bodies impose restriction on their use.
Furthermore, welding materials market may be mature owing to their use ever since industrial revolution, however, the market is still experiencing technological advancements, which is ensuring a continued growth of this industry. In order to make a projection we must determine the past historic growth patterns, determine the present position, and consider those factors that will have an impact on the growth in the future.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Type Segment
Based on the Type segment, the market is bifurcated into Electrodes & Filler Materials, Fluxes & Wires, and Gases. In 2020, the Fluxes & Wires segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. Flux is a chemical agent, which is used to clean a surface or can be used as a purifying agent. The flux material is used to dissolve the oxides by releasing gases that are trapped on the surface. Fluxes also help remove the impurities from the base metal surface that can further provide a good blending between the base metal and the filler material surface.
Technology Segment
Based on the Technology, the market is segmented into Arc Welding, Oxy-Fuel Welding, Resistance Welding, and Others. The Arc Welding segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. This growth can be attributed to its low cost and can be applied to a wide range of metal surfaces. Arc welding has the advantage of high heat concentration during the welding process wherein an electric arc is produced in between the electrode & base materials that melt the metals. The major advantage of arc welding is the concentration of heat applied to a large surface that enables better welding by providing a depth of penetration, which ultimately reduces the welding time, which is further expected to contribute toward the growth of the welding materials market.
End-Use Industry Segment
Based on the End-use Industry, the market is segmented into Transportation, Building & Construction, Heavy Industries, and Others. The Building & Construction segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. The growing demand for welded steel for the construction of residential and commercial buildings is expected to drive the market during the forecast period.
Asia Pacific accounted for a maximum share of the global market owing to the increasing number of new housing units and huge investments in the infrastructural sector in the ASEAN countries. Moreover, APAC is the fastest-growing region in terms of both population and economic growth, which is projected to become an increasingly important driver for global consumption over the next two decades. Rise in disposable income and increasing government initiatives undertaken to support infrastructure development are also the factors for its growth. However, European and North American markets is likely to gather sluggish growth through the forecast years 2021-2028. The slow growth of the welding materials market in this region is mostly ascribed to the lack of skilled labor in the welding industry.
.png "Asia Pacific Welding Materials Market 2019-2028 (USD Million)")
The major players of the global welding materials market are The Linde Group, Lincoln Electric Holdings, Inc., Ador Welding Limited, Colfax Corporation, Illinois Tools Works Inc., Praxair Incorporated, ESAB, Air Liquide S.A., and Air Products and Chemicals, Inc. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern welding materials. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.