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 process. 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). The global welding consumables market was valued at US$ 13,368.0 Mn in 2016 and is expected to register a CAGR of 5.7% in terms of value over the forecast period.
Drivers and Trends
Growth in the construction industry especially in emerging economies such as China and India is expected to be the key factor driving demand for welding consumables. Industrialisation and rapid urbanisation in developing countries are factors leading to the rise in construction projects, which in turn is expected to result in high demand for welding consumables. Rapid growth in the automobile and construction industry is the primary factor driving growth of the global welding consumables market. Growth of the global welding products and consumables market is expected to be fuelled by increasing number of end-use applications, in which different types of welding techniques can be used. However, a slow adoption of advanced welding technologies in developing countries such as China and India are the major restraints for growth of the welding consumables and techniques market in the APEJ region.
Increasing need for welding automation technology in fabrication is expected to be one of the major trends fuelling growth of the global welding consumables and techniques market in the coming years. In developed countries, demand for welding automation technology for fabrication and manufacturing purposes is increasing owing to a growing shortage of skilled labour.
Market Segmentation & Forecast
On the basis of welding consumables, the global welding consumables market can be segmented into stick electrodes, solid wires, flux cored wires, SAW wires & fluxes, and others. The stick electrodes segment accounted for 40.5% value share in 2016 and is expected to expand at a significant CAGR over the forecast period.
On the basis of welding technique, the global welding consumables market can be segmented into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, ultrasonic welding and others. The arc welding segment accounted for 41.9% value share in 2016 and is expected to expand at a CAGR of 5.6% over the forecast period.
On the basis of application, the global welding consumables market can be segmented into automotive & transportation, building & construction, marine applications, and others. The building & construction segment accounted for 16.8% value share in 2016 and is expected to expand at a CAGR of 5.9% over the forecast period, due to increasing building and construction activities in emerging countries such as China and India.
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 and Africa and Japan. Asia Pacific excluding Japan is expected to dominate the market with 32.4% value share in 2016 and is anticipated to remain dominant throughout the forecast period. Growth of the automotive sector and steel structure in Latin America is expected to drive growth in demand for welding consumables in the region. The welding consumables market in Latin America is 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.
An Introduction to the Report
Future Market Insights offers a 10-year forecast of the welding consumables market between 2017 and 2027. The main objective of the report is to offer insights on the advancements in the global welding consumables market. The study provides market dynamics that are expected to influence the current environment and future status of the welding consumables market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global welding consumables market.
A section of the report discusses how the overall competition in the market is steadily increasing. It highlights various factors that are shaping the internal as well as external competition in the market. The sales of welding consumables is estimated to grow at a steady pace in the near future. Moreover, a rapid growth of end-use industries such as building & construction, steel, automotive & transportation, and manufacturing is expected to drive growth of the global welding consumables market.
The report provides detailed market share analysis of the welding consumables market on the basis of key manufacturers. A section of the report highlights country-wise welding consumables demand. It provides a market outlook for 2017–2027 and sets the forecast within the context of the global welding consumables market, including new technological developments as well as product offerings for niche applications in the welding consumables market.
Key Segments Covered
By Welding Consumables
By Welding Technique
A detailed analysis has been provided for every segment in terms of market size analysis of the welding consumables market. The report starts with the market overview and provides market definition and analysis of drivers, restraints, opportunities, supply chain analysis, and key trends in the market. The next section that follows includes global market analysis, analysis by welding technique, welding consumables, application and regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market, covering the present scenario and future prospects. For market data analysis, the report considers 2016 as the base year, with market numbers estimated for 2016 and forecast made for the period 2017–2027.
It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities for market players. Another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity, which is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the welding consumables market.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of manufacturers are also included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the welding consumables market.