Welding Consumables Market

2020 Analysis and Review: Welding Consumables Market by Welding Type – Arc Welding, Resistance welding and Energy Beam welding for 2020-2030

Introduction

Welding contributes to the accomplishment of various tasks across several key industries, including aircraft manufacturing, shipbuilding, defense, and construction. Welding plays a significant role in extending life and repair of manufactured products.

While there are several technological advancements that are improving the end product, the welding market along with other manufacturing facilities are anticipated to be benefited by the advent of the “Internet of Things”.  It has allowed a manufacturer to make its operational processes leaner and has helped in speeding up the existing processes to reduce waste.

New welding machines are designed to send alert when they are running short of filler wire or when a weld joint is due for inspection and when a job is completed. Driven by these developments, the market is forecast to showcase steady growth through the forecast period.

According to a recent study, the global market for welding consumables is expected to reach a valuation of US$ 26.83 Bn by 2030 end, recording a steady CAGR of 5.7%.

Diverse Applications of Welding Technology Spurring Growth

As one of the fundamental and versatile methods used for assembling metals, welding has evolved considerably in the past few years. It is an extensively used process for metal fabrication across diverse industries. Welding, for instance, is a crucial process used in the construction of buildings, bridges, pipelines, besides a plethora of other engineering items.

Against this backdrop, with several high potential markets seeing their governments investing increasingly towards infrastructural development, the welding consumables market is set for impressive growth.

Demand from the automotive sector too is forecast to rise. In the energy sector, the market is expected to gain from the surging demand for improving installed capacity of renewable sources across solar and wind plants. The fabrication of piping systems for transport of fuel will further fuel the demand for welding technology.

Increasing demand of Welding Robots

Welding robots are not only great for the efficiency and precision at which they function but also are competent in removing several welding safety concerns. Owing to this, there is a huge demand for welding robots in the production sector. Conferring to the International Federation of Robotics, the number of operational industrial robots is estimated to grow around 80% globally, and reaching about 3.8 Mn robots by 2021.

Key Challenges

Incessant technological advancements in welding technology over the past two decades have helped in achieving more optimized process with better capabilities. Consequently, traditional welding technologies such as arc welding that were very well established are fronted with strong competition with advanced welding technologies such as laser beam welding and electron beam welding.

These new technologies do not employ electrodes and therefore the filler material does not impacts the consumption of welding consumables. Although these technologies will not entirely substitute traditional technologies, but it will definitely have an influence on demand. Furthermore these technologies are on a higher side and are utilized for high-end specialized operations.  

Region-wise Analysis

East Asia Welding Consumables Market

East Asia is anticipated to be the fastest growing welding consumables market. The region has a very well-established infrastructural structure and is one of the leading automotive manufacturing regions of the world, spearheaded by China.

The thriving electronics sector in the region, besides demand witnessed in East Asia’s construction and automotive sectors will aid the overall expansion of the market. Furthermore, the region will offer immense possibilities for the sturdy penetration of advanced welding technologies, for instance, robotics.

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Europe Welding Consumables Market

Europe currently holds dominance in the market owing to extensive government plans and policies in action to enhance installed capacity of renewable energy plants. The construction and infrastructure exercises are further projected to expand generating more demand for welding consumables.  

Europe will offer lucrative prospects over the years to come as it offers attractive opportunities for progressively setting up smart factories and adopting Industry 4.0 technologies, which is paving new growth avenues for the region.

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North America Welding Consumables Market

North America is a mature market for welding consumables and growth witnessed in the region over the forecast period will remain positive. Growth trajectory exhibited by the market will remain steady in North America, backed by consistent demand from various industries and country’s automotive and construction sectors.

The presence of several leading manufacturers as well will aid in overall expansion. According to FMI, the North America market will rise at above 4% CAGR over the course of the forecast period.

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Category-wise Insights

Arc Welding Type to Remain Key Revenue Contributor

Demand witnessed in the arc welding type segment is anticipated to skyrocket in the coming years, as a result of its widespread usage in the industries. The arc welding has been well established over the years. However, the segment is encountering strong competition from the newer technologies such as electron beam welding, laser beam welding, which do not employ electrodes and no filler material directly impacts the uptake of welding consumables.

On the other hand, resistance welding is anticipated to gain traction, reaching a market share of US$7.26 Bn over the forecast period.

Stick Electrodes to Exhibit Exponential Growth

Stick electrodes category shall remain the largest consumables segment, constituting over US$ 8.97 Bn market share across the forecast period. Expanding usage of stick electrodes as filler materials for linking up metals to protect from damage as well as enhance the welding strength is expected to benefit the growth of the segment throughout the assessment period.

Furthermore, wires category is foreseeing an increasing demand from various end use industries owing to its favourable mechanical attributes such as less surface area and ruggedness that assist in protecting the base metal from corrosion.

Construction to Remain Dominant End User

Construction end use segment is anticipated to attain largest market share over the forecast period. Rapid infrastructure development and industrialization in the developing markets has contributed to the rising demand for the welding consumables and processes and is expected to upkeep the segment growth.

Recent technological advancements to weld large and complex structures in construction sector is fuelling growth. Additionally, rapid urbanization is an important aspect in boosting demand. An upsurge in infrastructural development projects all over the world is anticipated to further drive the welding consumables market.

Competitive Landscape

Companies operating in the market are focusing on improving their technological strength to stay ahead of the competition in the market. Players are fortifying their market position in regional markets by partnering with end use sector to comprehend and offer what they necessitate. Efforts are made to improve production to cater domestic demand in addition to export products to enhance profitability and market share.

For instance, Voestalpine Böhler has acquired Selco s.r.l., a prominent welding machine producer in Italy. The company is aiming to become a full welding solutions provider in the welding sector and fortify its market position.  It will also offer a seamlessly coordinated combination of welding machines and welding consumables.

UP Group merged with VAUTID Group, a manufacturer of welding consumables, wear-resistant cast components and wear protection plates based in Germany. The acquisition will help the companies to expand their regional production and service capabilities and enhancing the added value they create. 

Major players operating in the global welding consumables market are:

  • The Lincoln Electric Company
  • Illinois Tool Works Inc
  • Taiyo Nippon Sanso Corporation
  • Air Liquide S.A.
  • Hyundai Welding Co, Ltd.
  • Air Products and Chemicals, Inc.
  • EWM AG
  • MESSER Group GmbH
  • Ador Welding Limited
  • WB Alloy Welding Products Limited
  • FSH Welding Group
  • GCE Group AB
  • Industrial Welding Corporation
  • The VBC Group Ltd.
  • Hilarius Haarlem Holland B.V.
  • Kiswel Ltd
  • Magmaweld
  • Gedik Welding
  • Chosun Welding
  • Selectrode Industries
  • D & H India
  • Yawata Electrode Co Ltd.

This list is only indicative – The full list of Welding Consumables market players is available on request.

Welding Consumables Market Report: Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data available for

2015-2019

Market Analysis

USD Bn for value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, MEA

Key Countries Covered

US, Canada, Brazil, Mexico, Rest of Latin America, Germany, Italy, France, Spain, U.K., Nordic, Russia, Rest of Europe, China, Japan, South Korea, India, ASEAN, Oceania,  Rest of SAP,  Saudi Arabia, U.A.E, Rest of G.C.C, Turkey, Northern Africa, South Africa and Rest of M.E.A.

Key Segments Covered

Consumables, Welding Type, End Use, and Region

Key Companies Profiled

The Lincoln Electric Company, Illinois Tool Works Inc.,Taiyo Nippon Sanso Corporation, Air Liquide S.A., Hyundai Welding Co, Ltd., Air Products and Chemicals, Inc., EWM AG, MESSER Group GmbH, Ador Welding Limited, WB Alloy Welding Products Limited, FSH Welding Group, GCE Group AB, Industrial Welding Corporation, The VBC Group Ltd., Hilarius Haarlem Holland B.V., Kiswel Ltd, Magmaweld, Gedik Welding, Chosun Welding, Selectrode Industries, D & H India, and Yawata Electrode Co Ltd.

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered by the Report

  • What is the market size of the Welding Consumables market?

    The global welding consumables market is anticipated to reach a valuation of US$ 26.82 Bn by 2030.

  • Which is the largest regional market for Welding Consumables?

    While Europe is currently the dominant regional market, East Asia is anticipated catch up soon due to a rising investment towards infrastructural development and presence of booming manufacturing sector.

  • Which are the top companies in the Welding Consumables market?

    Key players operating in the market include The Lincoln Electric Company, Illinois Tool Works Inc.,Taiyo Nippon Sanso Corporation, Air Liquide S.A., Hyundai Welding Co, Ltd., Air Products and Chemicals, Inc., EWM AG, MESSER Group GmbH, Ador Welding Limited, WB Alloy Welding Products Limited, FSH Welding Group, GCE Group AB, Industrial Welding Corporation, The VBC Group Ltd., Hilarius Haarlem Holland B.V., Kiswel Ltd, Magmaweld, Gedik Welding, Chosun Welding, Selectrode Industries, D & H India, and Yawata Electrode Co Ltd.

  • Which welding type will be highly preferred in the Welding Consumables market?

    The arc welding segment will be majorly preferred in the welding consumables market due to its wider application area.

  • What is the outlook on the Welding Consumables market?

    An incessant improvement in infrastructural and construction spending, together with increasing automotive demand, energy infrastructure development, ship building activity and other end use industries are key drivers which generate notable growth for welding consumables market.

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  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst.

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers.

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Welding Consumables Market: Segmentation

Consumables

  • Stick Electrodes
    • Mild steel
    • Stainless steel
    • Low Alloy
    • Nickel
    • Aluminium
    • Others
  • Gases
  • Strip Cladding Electrodes
  • Submerged Arc wires and Fluxes
  • Wires
    • Metal cored wires
    • MIG/MAG wires
    • Flux Cored wires
  • Others

Welding Type

  • Arc Welding
    • Sheild Metal Arc welding
    • Gas Metal Arc welding
    • Flux Cored Arc welding
    • Gas Tungsten Arc Welding
  • Energy Beam welding
  • Plasma Arc Welding
  • Submerged Arc welding
  • Electro Slag Welding
  • Resistance welding
  • Others

End Use

  • Automotive
  • Construction
  • Oil and Gas
  • Marine
  • Power Generation
  • Aerospace and Defence
  • Industrial Fabrication
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • MEA

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