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Welding Consumables Market to be Worth Around USD 18.1 Billion by 2023 - Zion Market Research

Welding Consumables

Welding Consumables

Global Welding Consumables Market expected to reach approximately USD 18.1 Billion in 2023, growing at a CAGR of slightly above 5.0% between 2017 and 2023

Global Welding Consumables Market expected to reach approximately USD 18.1 Billion in 2023, growing at a CAGR of slightly above 5.0% between 2017 and 2023”
— Zion Market Research

NEW YORK, NEW YORK, UNITED STATES, February 26, 2020 / -- Zion Market Research has published a new report titled “Welding Consumables Market by Type (SAW wires, Fluxes, Flux-cored wires, Solid wires, Stick electrodes) by Technique (Arc welding, Resistance welding, Oxyfuel welding, Ultrasonic welding) by End-Use industry (Oil & Gas, Power Generation, Marine, Construction, Automobile, Aerospace & Defense) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2023’’. According to the report, global welding consumables market was valued at around USD 13 Billion in 2017 and is expected to reach approximately USD 18.1 Billion in 2023, growing at a CAGR of slightly above 5.0% between 2017 and 2023.

Welding is an effective and economical process for creating sustainable joints between different parts. Filler metals are melted during welding and provide a strong joint. Flux is used to produce a gas shield around weld pool in order to prevent oxidation of metals.

Growing requirement of welding automation technology in fabrication will drive the demand for welding consumables. Further, high labor cost and scarcity of skilled labor in developed countries are increasing the requirement for welding automation technology. Extensive usage of oxy-fuel welding and arc welding process in machinery and automobiles manufacturing has generated the immense potential for filler metals and flux materials.

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Automobile industry consumes welding products to manufacture fuel efficient, lightweight and high-quality components. The process of adhering components through weld is used in vehicle components production to maintain mechanical properties of the welded base metal. Welding material selection is done on the basis of end-use type. For instance, fluxes and saw wires are used for stress relieved or topside structural applications that increase the density and strength of the base metal. However, welding products usage poses safety and health issues for operators. Owing to these safety concerns, regulatory bodies including American National Standards (ANSI), REACH, OSHA, ECHA, American Welding Society (AWS), and European Union are imposing restrictions on usage limits of welding operations. ANSI has observed potential threat of illness and injury to an operator during welding and had recommended to carry out the task in open space to avoid health hazards.

Arc welding is widely preferred in manufacturing offshore structures, pipelines, and other such process equipment. The technology is extensively used for chassis parts due to its characteristics of rigidity and high strength of joints along with ease of continuous joining. Advanced arc welding technology is introduced to enhance efficiency and productivity of manufacturing. Trending weight reduction of vehicle bodies is projected to foster demand for advanced arc welding technology. Arc welding also finds large application in joining heavy plates to fabricate giant steel structures. Gas tungsten arc welding, flux cored arc welding, submerged arc welding, and gas metal arc welding are certain arc welding processes that are used on a wide scale in various industries.

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Welding consumables market is segmented on the basis of the type as stick electrodes, solid wires, flux-cored wires, fluxes and SAW wires. Stick electrodes contribute significantly in the market owing to its convenient usage pertaining to operation location. Further, it is used in shipbuilding, heavy fabrication, and nuclear power plant. As per the technique, welding consumables are bifurcated into ultrasonic welding, Oxyfuel welding, resistance welding and arc welding. Advanced arc welding technology is used widely to improve efficiency and productivity of the weld joints. These welding techniques have various applications in the industries of aerospace & defense, automobile, construction, marine, power generation and oil & gas. Marine segment is anticipated to grow at a significant rate in the market during the forecast timeframe.

North America is projected to depict substantial growth in global welding consumables market. Growth is attributed to the recovery of the economy from the recession of late 2009 in construction and manufacturing sectors. Further, increasing applications of various welding types including ultrasonic welding to join dissimilar materials and nonferrous metals in aerospace equipment will contribute to market growth. The Middle East & Africa is at a nascent stage but depicts a positive growth rate in the market owing to its flourishing demand for luxury sports cars.

Key producers in welding consumables market include Arcon Welding Equipment, Kemppi Oy, Tianjin Bridge Welding Materials Co., Ltd., Fronius International GmbH, Denyo Co., Ltd, Illinois Tool Works Inc, Panasonic Corporation, Obara Corporation, Hyundai Welding Co., Ltd, Air Liquide, The Lincoln Electric Company, Colfax Corporation, and Voestalpine AG, Nikko Steel, PT. Yontomo Sukses Abadi, PT. Cahaya Las Mandiri, P.T. Intan Pertiwi Industri, Alfa Metalindo Indonesia, The Linde Group, Inc, and Kobe Steel, Ltd.

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The report segments global Welding Consumables market as follows:

Welding Consumables Market: Type Segment Analysis

SAW wires
Flux cored wires
Solid wires
Stick electrodes

Welding Consumables Market: Technique Segment Analysis

Arc welding
Resistance welding
Oxyfuel welding
Ultrasonic welding

Welding Consumables Market: End-Use Industry Segment Analysis

Oil & Gas
Power generation
Aerospace & defense

Welding Consumables Market: Regional Segment Analysis

North America
The U.S.
Asia Pacific
Latin America
The Middle East and Africa

Kalpesh Deshmukh
Zion Market Research
+1 855 465 4651
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