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Welding Consumables Market

Market Overview

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.

The global welding consumables market was valued at US$ 13,118.9 Mn in 2018 and is expected to grow at a CAGR of 5.5% during the forecasted period (2019-2027)

Market Dynamics- Driver

  1. 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.

  1. Rapid growth of oil & gas industry is expected to propel the global welding consumables market growth over the forecast period

Consumption of oil and natural gas has increased significantly in the recent past due to growing urbanization, increasing sales of cars, and rising purchasing power around the world. According British to Petroleum (BP) Statistical Review of World Energy 2019, global oil consumption grew by around 1.4 million barrels per day or 1.5% in 2018. According to the same source, the U.S. and China were major contributors to growth. Moreover, global oil production increased by 2.2 million barrels per day. Oil & gas industry is one of the largest end-use industry for welding consumables. Different type of welding techniques have been developed for oil & gas industry such as submerged arc welding (SAW), tungsten inert gas welding (TIG), shielded metal arc welding (SMAW), and gas metal arc welding (GMW). Increasing demand for replacement of older gas pipelines is expected to drive the market growth in the near future.

North America region dominated the global welding consumables market in 2018, accounting for 32.2% share in terms of value, followed by Europe, and North America, respectively.

Welding Consumables  | Coherent Market Insights

 Source: Coherent Market Insights

Market Dynamics- Restraints

  1. 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.

  1. Lack of skilled labor force in emerging economies is expected to hinder the global welding consumables market growth over the forecast period

Certain welding practices such as laser beam welding, electron beam welding or ultrasonic welding requires highly skilled labor force. These techniques employ special tools that need to be operated by only trained workforce. Unavailability such skilled and trained workers in emerging economies such as India and China is expected to restrain the market growth during the forecast period.

Market Opportunities

  1. High demand for welding consumables from wind and solar energy industry

Stringent regulations imposed by government agencies regarding carbon emission have accelerated growth of wind energy industry. Moreover, government agencies are taking proactive initiatives to promote use of wind energy, which in turn, is expected to offer lucrative growth opportunities for market players in the near future. According to Global Wind Energy Council, in 2015, adoption of wind power increased by 50%. Moreover, Europe and North America are increasingly adopting solar energy, in order to promote the use of clean energy in various countries. Commercial and residential sectors across different countries are adopting solar energy as a main source of electricity, which in turn, is expected to offer significant growth opportunities for market players in the near future.

  1. Ongoing repair and maintenance work in various applications to offer growth opportunities

Various industries such as automobiles, transportation, construction, shipbuilding, metal fabrication, and energy are expected to offer constant repair and maintenance opportunities for market players. There is constant need for repair and maintenance work in these industries, which is expected to boost the demand for welding consumables in the during the forecast period.

Welding Consumables  | Coherent Market Insights

 Source: Coherent Market Insights

In global welding consumables market, by technology segment Arc welding sub-segment dominated the global welding consumables market in 2018, accounting for 42.0% share in terms of value, followed by Resistant welding, Oxy-fuel welding, Others , Laser-beam welding and Ultrasound welding sub-segment, respectively.

Welding Consumables  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Growing strategic activities such as mergers and acquisitions among key players are expected to offer lucrative growth opportunities

Key companies in the market are focused on strategic activities such as mergers and acquisitions, in order to gain competitive edge in the market. For instance, in 2014, Voestalpine AG acquired Maruti Weld Pvt. Ltd., in order to expand its presence in Indian market. Furthermore, in 2012, Colfax Corporation acquired ESAB, a global manufacturer and supplier of welding and cutting products.

  1. Adoption of welding automation technology in fabrication

Increasing demand for welding applications has accelerated adoption of automated welding. It has been predominantly used in fabrication, which is expected to drive the market growth. In developed countries, the demand for welding automation technology in manufacturing processes has increased significantly due to shortage of skilled labors. This trend is likely to continue during the forecast period.

Competitive Section 

Key companies operating in the global welding consumables market are 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., and Panasonic Corporation.

Key Developments

  1. Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in July 2019, The Lincoln Electric Company acquired controlling stake of Kaynak Teknigi Sanayi ve Tecaret.
  2. Key players in the market are involved in mergers and acquisitions, in order to gain enhance market presence. For instance, in March 2019, Airgas, a subsidiary of Air Liquide, acquired TA Corporate Holdings, Inc., an independent distributor welding supplies.

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 (2019-2027). 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.

Market Taxonomy

This report segments the global Welding Consumables market on the basis of welding consumables, Stick Electrodes, Solid Wires, Flux Cored Wires, SAW Wires & Fluxes and Others. On the basis of welding technique, the global Welding Consumables market is segmented into, arc welding, resistance welding, oxy-fuel welding , laser-beam welding, ultrasonic welding and others. On the basis of application, the market is segmented into automotive & transportation, building & construction, marine applications and others.

Key features of the study:

  • This report provides an in-depth analysis of the global welding consumables market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global welding consumables market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key players operating in the global Welding Consumables are Intel Corporation, Trend Micro Incorporated, Cisco System Inc., Inside Secure, NXP Semiconductors N.V., Synopsys, Inc., Infineon Technologies AG, ARM Holdings Plc. (SoftBank Corp), Gemalto NV, Palo Alto Networks Inc., and Check Point Software Technologies Ltd. 
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Welding Consumables market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global Welding Consumables market

Detailed Segmentation:

  • Global Welding Consumables Market, By Welding Consumables:
    • Stick Electrodes
    • Solid Wires
    • Flux Cored Wires
    • SAW Wires & Fluxes
    • Others
  • Global Welding Consumables Market, By Welding Technique:
    • Arc Welding
    • Resistance Welding
    • Oxy-Fuel Welding
    • Laser-Beam Welding
    • Ultrasonic Welding
    • Others
  • Global Welding Consumables Market, By Application:
    • Automotive & Transportation
    • Building & Construction
    • Marine Applications
    • Others
  • Company Profiles
    • voestalpine AG *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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

*Browse all the market data tables and figures on "Global Welding Consumables Market - Forecast to 2027”

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Welding Consumables
      • Market Snippet, By Welding Technique
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Welding Consumables Market, By Welding Consumables, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Stick Electrodes
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Solid Wires
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Flux Cored Wires
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • SAW Wires & Fluxes
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Welding Consumables Market, By Welding Technique, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Arc Welding
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Resistance Welding
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Oxy-Fuel Welding
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Laser-Beam Welding
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Ultrasonic Welding
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Welding Consumables Market, By Application, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Automotive & Transportation
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Building & Construction
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Marine Applications
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Global Welding Consumables Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Welding Consumables, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Welding Technique, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Welding Consumables, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Welding Technique, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Welding Consumables, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Welding Technique, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Welding Consumables, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Welding Technique, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Welding Consumables, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Welding Technique, 2019–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • voestalpine AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Arcon Welding Equipment
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Colfax Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Kemppi Oy
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • The Lincoln Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tianjin Bridge Welding Materials Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Air Liquide
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fronius International GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hyundai Welding Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Denyo Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Obara Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Illinois Tool Works Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Panasonic Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on "Welding Consumables Market - Global forecast to 2027”.

Frequently Asked Questions

The global welding consumables market is estimated to reach US$ 21,185.5 million by 2027.
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., and Panasonic Corporation.
Slow adoption of advanced welding technologies, coupled with lack of skilled labor force in emerging economies are the major factors that are expected to hamper growth of the market over the forecast period.
High growth of automobile and construction industry is one of the major factors that is expected to propel growth of the market over the forecast period.
Adoption of welding automation technology in fabrication is one of the major trends that has been observed in the market.
Among regions, Asia Pacific held a dominant position in the global welding consumables market in 2018, accounting for 32.2% share, in terms of value, followed by Europe, and North America, respectively.
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