Welding is a process of joining metals and thermoplastics by the process of coalescence. It is often preferred process whenever joints are required, since it is effective and economical. Flux is commonly used to produce a shield of gas around the weld pool, in order to prevent oxidation pool of the hot metals. Flux and filler metals are called welding consumables where they melt while joining two metals, in order to form a strong joint and protect molten weld from atmospheric containments. There are different types of consumables such as stick electrodes, flux-cored wires, SAW wires & fluxes, and more.
Recent Developments:
High growth of automobile and construction industry is expected to drive growth of the global welding consumables market during the forecast period. Welding is one of the essential processes used in construction and automobile industry where different types of welding such as arc welding, laser beam welding, friction welding, resistance welding, and ultrasonic welding are used. These welding technologies are used to join metals permanently. Moreover, welding used in repair and maintenance of automobiles, which has increase the demand for welding consumables. Industrialization and rapid urbanization have increased the demand for welding consumables. Thus, rampant growth of construction and automobile industry is expected to drive the market growth over the forecast period.
Restraint:
Slow adoption of advanced welding technologies is expected to hamper the global welding consumables market growth over the forecast period. There has been slow adoption of advanced welding technologies in emerging economies such as India and China, which is expected to restrain the market growth up to certain extents. Cost sensitivity is another factor hampering the market growth in these countries. Advanced welding technologies such as electron beam and laser beam are predominantly used on developed country though due to high costs it has witnessed low adoption in emerging economies.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 14,714.39 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 5.8 % | 2030 Value Projection: | US$ 24,157.49 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Voestalpine AG, Arcon Welding Equipment, Colfax Corporation, Kemppi Oy, The Lincoln Electric Company, Tianjin Bridge Welding Materials Co., Ltd., Air Liquide, Fronius International GmbH, Hyundai Welding Co., Ltd., Denyo Co., Ltd., Obara Corporation, Illinois Tool Works Inc., Panasonic Corporation |
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| Restraints & Challenges: |
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Global Welding Consumables Market- Impact of Coronavirus (Covid-19) Pandemic:
The spread of COVID-19 hampered the global economy severely. Lockdowns were imposed by governments of various countries. Many automotive component manufacturing companies were shut temporarily due to financial crises, lack of manpower, and shortage of components. Demand for vehicles also declined in the covid-19 due to decline in the disposable income of the people which impacted demand for welding consumables. Hence, the global welding consumables market witnessed slow growth during the pandemic.
North America held a dominant position in the global welding consumables market in 2021
Statistics:
North America held dominant position in the global welding consumables market in 2021, accounting for 31.0% share in terms of volume, followed Asia Pacific, and Europe respectively.
Figure 1: Global Welding Consumables Market Share (%), By Region, 2021
North America is expected to account for the largest market share of the global welding consumables market during the forecast period.
Asia Pacific is expected to witness significant growth in the forecast period as countries such as China, India, Japan, and Indonesia in the Asia Pacific region are fast emerging economies. Corporate sector and manufacturing sector is growing rapidly and hence infrastructure such as corporate buildings, and manufacturing plants requirements is also increasing rapidly. Welding consumables are used in the construction sector to join metal framework for roofs, walls, and other purposes hence the demand for welding consumables is increasing in the Asia Pacific region.
Arc welding segment is expected to drive the global welding consumables market growth during the forecast period.
Among welding technique, arc welding segment is expected to gain traction in the forecast period. Arc welding is a welding process that is used to join metals using electricity. It is affordable, easy to use, and versatile, achieves smooth welding, emits low smoke and produces very low distortion. All these advantages is increasing the popularity of the arc welding segment and hence is expected to drive the global welding consumables market in the forecast period.
Figure 2: Global Welding Consumables Market (US$ Mn) Analysis and Forecast, 2018 - 2030
Global welding consumables market was valued at US$ 14,714.39 Mn in 2021 and is expected to reach US$ 24,157.49 Mn by 2030, growing at a CAGR of 5.8 % between 2022 and 2030.
Major players operating in the global welding consumables market include Voestalpine AG, Arcon Welding Equipment, Colfax Corporation, Kemppi Oy, The Lincoln Electric Company, Tianjin Bridge Welding Materials Co., Ltd., Air Liquide, Fronius International GmbH, Hyundai Welding Co., Ltd., Denyo Co., Ltd., Obara Corporation, Illinois Tool Works Inc., Panasonic Corporation
Welding is a fabrication process which is used to join two or more parts of similar material properties such as metals or thermoplastic using high temperature heat, which is used to melt the parts and are allowed to cool causing fusion. In welding process the part which are joint together are called parent material and the material used to join these parent material is called as filler. Welding consumables find wide range of application in automotive, construction and marine industries among other to joint several metal part together. Moreover, welding consumables
Market Dynamics
Growing automobile and construction industry across the global is expected to drive the market growth during the forecasted period (2019-2030). As Welding is one of the essential processes used in construction and automobile industry where different types of welding such as arc welding, laser beam welding, friction welding, resistance welding, and ultrasonic welding are used to join the metal components such as doors, roofs among other of a vehicles as the vehicles parts are manufacturers separately and are joint together to build a whole vehicle using welding process. Furthermore, growing number of solar plats across the globe also affected the market positively as to setup a solar plant the solar panels are too we welded with the solar stand which will also help the market to grow during the forecasted period.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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