The global welding materials market is estimated to reach USD 22.8 billion by 2026 growing at a CAGR of 6.6% during the forecast period, according to a new study published by Report Ocean Market Research.
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The report ?Welding Materials Market Share, Size, Trends, & Industry Analysis Report, By Type (Fluxes & Wires, Electrode & Filler Materials); By Technology (Resistance Welding, ARC Welding, Ultrasonic Welding); By End-User, By Region: Segment Forecast, 2019 – 2026′ provides an extensive analysis of present market dynamics and predicted future trends. In 2018, the automotive and transportation segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
The increasing automation in various industrial processes, and use of welding materials in diverse applications such as construction, automotive, and aerospace among others is expected to support the market growth. Increasing use of welding materials in infrastructural development, and rising construction activities especially in the developing economies accelerates the market growth. Other driving factors include increasing investments in energy infrastructure, industrialization, improving aesthetics of welds, urbanization, and growing development of new filler metals to improve purity. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the welding materials industry during the forecast period.
Welding electrodes are developed from electrically conductive material, and are capable of conducting electric current to the weld. Consumable electrodes provide the filler metal of the weld puddle, and include welding wires, rods, plates, strips, wires and tapes, and combination electrodes. Consumable electrodes include a variety of metals and alloys such as steel, aluminum, titanium, and copper. Non-consumable electrodes include rods and electrodes used in resistance welding.
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Asia-Pacific generated the highest revenue during 2018, and is expected to lead the global market throughout the forecast period. The presence of established industries such as manufacturing and automotive, substantial initiatives in research and development, and increasing automation of industrial processes drive the market growth. Rapid industrialization and growth of construction industry further strengthen the welding materials industry in the region. The increasing sale of passenger vehicles, coupled with increasing infrastructure development in countries such as China, and Japan increases the adoption of welding materials in the region.
The well-known companies profiled in the report include Air Products And Chemicals, Inc., Praxair Technology, Inc., Tianjin Bridge Welding Materials Group Co., Ltd., The Lincoln Electric Company, Illinois Tool Works Inc., Ador Welding Ltd., Hyundai Welding Co., Ltd., Taiyo Nippon Sanso Corporation, Fronius International GmbH, Miller Electric Mfg. LLC, Iwatani Corporation, and Colfax Corporation. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach.
Report Ocean Market Research has segmented the global Welding Materials market on the basis of type, technology, end user and region:
Welding Materials Type Outlook (Revenue, USD Billion, 2015 – 2026)
Fluxes & Wires
Electrode & Filler Materials
Gases
Accessories
Others
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Welding Materials Technology Outlook (Revenue, USD Billion, 2015 – 2026)
Resistance Welding
Arc Welding
Ultrasonic Welding
Oxy-Fuel Welding
Laser Beam Welding
Others
Welding Materials End User Outlook (Revenue, USD Billion, 2015 – 2026)
Automotive and Transportation
Power
Oil and Gas
Construction
Manufacturing
Others
Welding Materials Regional Outlook (Revenue, USD Billion, 2015 – 2026)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Belgium
Russia
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
Korea
Singapore
Malaysia
Indonesia
Thailand
Philippines
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
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Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Welding Materials market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Welding Materials market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Welding Materials market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Welding Materials business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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