Global Welding Consumables Market To Generate USD 20.45 BN By 2025
Posted On February 08, 2019
According to the Value Market Research, the Global Welding Consumables Market was valued USD 13.63 BN (by revenue) in 2018 and is anticipated to reach USD 20.45 BN by 2025 growing with a CAGR of 5.90% from 2019 to 2025.The report throws light on the key market forecasts and detailed analysis of the latest growth trends. The study adds the regional market data making it easy to identify the growing opportunities in the market.
Welding is a reliable and high-tech process of joining various metals and thermoplastics together by means of coalescence. It is an effective and economical method for creating strong joints between two or more metal parts. Flux and fillers are some of the consumables used in the arc welding process. Basically, this welding consumables metals melt during joining of two metals and help them to create a strong joint and protect the molten weld from atmospheric containments.
The report "Global Welding Consumables Market Report By Product (Stick Electrodes, Solid Wires, Solid Wires, Saw Wires & Fluxes, And Others), End-User (Automotive & Transportation, Building & Construction, Marine, Power, Oil & Gas, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2018-2025" highlights the market drivers, restraints, trend, challenges, and other key aspects that affect the market dynamics.
Growing demand from major end-use industries such as automotive and building & construction is expected to remain one of the key growth drivers over the forecast timeline. Also, higher demand and consumption of welding consumables across large industrial and expanding this industrial base in developing nations is expected to fuel the market share. Further, the increase in consumption of steel coupled with the revival of the construction industry is again projected to enhance the industry expansion. The continuous increase in automotive production worldwide is also anticipated to offer significant potential for market growth as welding consumables are widely used in the manufacturing of automotive parts.
Segmentation comprises of product, end-user, and region. Product cover stick electrodes, solid wires, solid wires, saw wires & fluxes, and others. Stick electrode lead the product segment owing to its higher demand across low and mild alloy steel welding. Also, since it is inexpensive and convenient to use these properties are fueling their demand. The end-user section includes automotive & transportation, building & construction, marine, power, oil & gas, and others. Among which, automotive & transportation segment is accounted for the highest market share owing to the rising production of automotive parts which result in the expansion of the automotive industry. Also, the upsurge in usage of welding consumables for maintenance and repair purpose is boosting their demand across the automotive industry. Region-wise the market has been studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, Asia-Pacific is ruling the global welding consumable market owing to the expansion of end-user industries because of the ongoing urbanization and industrialization in the region.
The Report Segments Global Welding Consumables Market -
- Stick Electrodes
- Solid Wires
- Flux-Cored Wires
- Saw Wires & Fluxes
- Automotive & Transportation
- Building & Construction
- Oil & Gas
- North America
- Latin America
- Middle East and Africa
Players Profiled In The Report:
Corodur Fülldraht GmbH, Daihen Corporation, The Lincoln Electric Company, ESAB, Tianjin Bridge Welding Materials Group Co., Ltd., Illinois Tool Works Inc., Air Liquide, Voestalpine Böhler Welding Group GmbH, Kiswel Inc., Kobe Steel, Ltd., Obara Group Inc., Promax Welding, Royal Arc Electrodes Limited and Vorarc Welding CC.
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