According to the latest report by IMARC Group, titled “Welding Consumables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, provides an extensive analysis of the industry, including welding consumables market share analysis. The report also covers competitor and regional analysis and the latest advancements in the global market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global welding consumables market size reached US$ 16.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.68% during 2024-2032.
Welding Consumables Market Overview:
Welding consumables are essential materials in the welding process that facilitate the formation of a strong joint between two metals by becoming part of the weld itself. These consumables include a variety of products, such as welding rods, wires, fluxes, and electrodes. Each type serves a specific purpose and is chosen based on the metal being welded, the welding technique employed, and the desired strength and finish of the weld. Electrodes, which can be coated or uncoated, are used in arc welding to create the electric arc that melts the metal, while fluxes are substances applied to the welding area to cleanse the metal surfaces and prevent oxidation, ensuring a cleaner and stronger weld. Welding wires are used in processes, such as MIG (Metal Inert Gas) and TIG (Tungsten Inert Gas) welding, acting as a filler material that melts to form the weld.
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Welding Consumables Market Growth:
The continuous expansion of the construction sector, fueled by global urbanization and infrastructural development, is driving the global market. As cities grow and infrastructure projects expand, the demand for welding consumables in constructing buildings, bridges, and highways increases. The automotive industry, seeking to enhance vehicle strength and safety while reducing weight, also significantly contributes to the demand for advanced welding technologies and consumables.
Additionally, the continual advancements in manufacturing technologies and materials science are propelling the market forward. Innovations such as automation in welding processes and the development of high-performance materials necessitate specialized welding consumables, leading to a rise in demand. The push towards renewable energy sources further influences market dynamics, with wind turbines and solar power infrastructure requiring extensive welding, thereby propelling consumable use. Furthermore, regulatory pressures and the growing emphasis on quality and durability in manufacturing and construction have led to higher standards and specifications for welding consumables. Manufacturers are now focusing on producing consumables that offer improved performance, longer life, and compatibility with a variety of materials and welding techniques.
Top Welding Consumables Manufacturers Worldwide:
Voestalpine AG
Colfax Corporation
The Lincoln Electric Company
Air Liquide
Hyundai Welding Co., Ltd.
Obara Corporation
Panasonic Corporation
Illinois Tool Works Inc.
Denyo Co., Ltd.
Fronius International GmbH
Tianjin Bridge Welding Materials Co., Ltd.
Kemppi Oy
Arcon Welding Equipment
Key Market Segmentation:
Breakup by Product Type:
Stick Electrodes
Solid Wires
Flux Cored Wires
Saw Wires and Fluxes
Others
Breakup by Welding Technique:
Arc Welding
Oxy-Fuel Welding
Resistance Welding
Laser-Beam Welding
Others
Breakup by End-Use Industries:
Construction
Automobile
Energy
Shipbuilding
Aerospace
Industrial Equipment
Others
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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