The global welding materials market size is likely to attain over USD 17.3 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 4.8% during the forecast years 2021-2028. Welding is now the universally accepted method of permanently joining all metals. In some respects, it might be considered a mature industry but it is still a growing industry. The true impact of welding on the metalworking industry should be measured in the value of the parts produced by welding, the amount of money saved by the use of welding over other metal fabrication processes, and in the value of products made possible by welding.
The present and future welding materials market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the welding materials market opportunities during the forecast years are increasing growth of application segments such as transportation, building and construction, marine, and automobiles, and the growing urbanization in developing nations that will drive the growth of this market.However, environmental impact of welding materials is hampering the market growth. Furthermore, welding techniques such as laser welding and ultrasonic welding are witnessing increasing adoption which is likely to provide lucrative development opportunities for the welding materials market in the forthcoming years.
The report also emphasizes several distinctiveness of the global welding materials industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the welding materials industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The welding materials market has tough competition among the new emerging and pre-established market vendors. Besides, the welding materials industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the Type, the market is categorized into Electrodes & Filler Materials, Fluxes & Wires, and Gases. In 2020, the Fluxes & Wires segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. Fluxes help remove the impurities from the base metal surface that can further provide a good blending between the base metal and the filler material surface.
European and North America is likely to gather sluggish growth through the forecast years 2021-2028. The slow growth of the welding materials market in this region is mostly ascribed to the lack of skilled labor in the welding industry. However, the Asia Pacific region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the huge investments made in the infrastructural sector in the ASEAN countries and rapid urbanization.
The major players of the global welding materials market are The Linde Group, Lincoln Electric Holdings, Inc., Ador Welding Limited, Colfax Corporation, Illinois Tools Works Inc., Praxair Incorporated, ESAB, Air Liquide S.A., and Air Products and Chemicals, Inc. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern welding materials. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Welding Materials Market
Type Overview, 2019-2028 (USD Million)
- Electrodes & Filler Materials
- Fluxes & Wires
Technology Overview, 2019-2028 (USD Million)
- Arc Welding
- Oxy-Fuel Welding
- Resistance Welding
End-Use Industry Overview, 2019-2028 (USD Million)
- Building & Construction
- Heavy Industries
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America