Global Welding Consumables Market to Register a CAGR of 5.7% in Terms of Value During 2017 – 2027; Market Value to Witness a 1.7X Increase by the End of the Forecast Period
Sep 22,2017 | Industrial Automation & Equipment
Welding is a cost-effective method for joining metals and alloys, which is widely used in various manufacturing industries. Flux and filler metals are known as welding consumables. These welding consumables melt while joining two metals to help form a strong joint and protect molten weld from atmospheric containments. Welding consumables are mainly used in the arc welding and oxy-fuel welding processes. In arc welding technology, welding consumables are widely used in Shielded Metal Arc Welding (SMAW), Gas Metal Arc Welding (GMAW), Flux-Cored Arc Welding (FCAW) and Submerged Arc Welding (SAW). Moreover, shielded gases are primarily used in oxy-fuel welding, Gas Tungsten Arc Welding (GTAW) and Gas Metal Arc Welding (GMAW). Welding consumables are flux & filler materials used in the welding industry, which become liquid while joining the metals. Steel and aluminium rutile are some of the raw materials used in the production of welding consumables. The rising consumption of metals by end-use industries along with the recovering construction industry in the U.S. are among factors expected to boost the demand for welding consumables over the forecast period. Key players in the welding consumables market use various strategies such as mergers and acquisitions as well as collaborations to serve the growing demand for welding consumables across the globe.
Growth in the construction industry, especially in the emerging economies such as China and India, is expected to be a key factor driving the demand for welding consumables. Industrialisation and rapid urbanisation in developing countries are factors leading to a rise in construction projects, which is expected to result in the high demand for welding consumables. Rapid growth in the automobile and construction industry is a primary factor driving the global welding consumables market. Growth of the global welding products and consumables market is expected to be fuelled by an increasing number of end-use applications in which different types of welding techniques can be used. However, the slow adoption of advanced welding technologies in developing countries such as China and India are among the major factors restraining the growth of the welding consumables and techniques market in the APEJ region. The increasing need for welding automation technology in fabrication is expected to be one of the major trends fuelling the growth of the global welding consumables and techniques market in the coming years.
On the basis of geography, the global welding consumables market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa and Japan. Asia Pacific excluding Japan is expected to dominate the welding consumables market with a major value share in 2016, and is estimated to remain dominant throughout the forecast period. Growth of the automotive sector and steel structure is expected to drive the demand for welding consumables in the region. The welding consumables market in Eastern Europe is also expected to witness significant growth over the forecast period. MEA is expected to emerge as the most lucrative region in terms of CAGR in the global welding consumables market during the forecast period.
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Welding Consumables Market Participants
Some of the major participants covered in the welding consumables market are The Lincoln Electric Company; Colfax Corporation; Illinois Tool Works Inc.; Hyundai Welding Co., Ltd.; Praxair, Inc.; Voestalpine AG; The Linde Group; Air Products and Chemicals, Inc.; EWM AG; Air Liquide S.A. and MESSER Group GmbH. These players in the global welding consumables market are following different strategies to cater to the different types of end users. Some of the suppliers of welding consumables directly partner with the end user site to provide welding consumables on-site while setting up large welding consumables manufacturing plants at various manufacturing hubs located at different parts of the globe. The demand for welding consumables is expected to continue to grow as it is very capital intensive for end users to set up their own manufacturing units.
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