Market Analysis
The welding materials market is likely to grow at a healthy CAGR between 2020-2027, as per the recent Market Research Future (MRFR) report. Welding materials, simply put, are non-metallic materials which are used to join thermoplastics and metals. The different raw materials used in welding processes include flat metal, welding wire, hardware, sectional metal, formed expanded metal, castings, fittings, and plate metal. The benefits of these materials are the durability and strength that they provide to the structure. The parts that are welded possess longevity, high design flexibility, and excellent strength that makes these materials applicable in almost every major industry, including oil and gas, power, marine, building and construction, automotive, and transportation.
Numerous factors are adding to the global welding materials market growth. These factors, according to the recent MRFR report, include constant technical advances in the automobile industry, rising infrastructure development, growing urbanization, and increasing use in different end use industries including automobiles, marine, building and construction, and transportation.
On the contrary, high cost, risk of accident, and the need for skilled labor may limit the global welding materials market growth over the forecast period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global welding materials market size based on end use industry, technology, and type.
By type, the global welding materials market is segmented into gases, fluxes and wires, electrode and filler material, and others. Of these, electrode and filler will have a major share in the market during the forecast period for the rise in automobile production and increasing use in resistance and arc welding.
By technology, the global welding materials market is segmented into oxy-fuel welding, resistance welding, arc welding, and others. Of these, arc welding will lead the market during the forecast period. Owing to its alluring features such as excellent corrosion resistance, high impact resistance, high heat concentration, and uniformity in the metal deposition it has wide applications.
By end use industry, the global welding materials market is segmented into power, oil and gas, marine, building and construction, automotive and transport, and others. Of these, automotive and transport will have a major share in the market over the forecast period for increasing use of welding materials for maintenance and repair activities.
Regional Analysis
By region, the global welding materials market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. Of these, the APAC region will dominate the market over the forecast period for increasing use of welding materials in the marine, construction, and automotive industry. Government initiatives to augment the transportation system and rapid infrastructural development are also adding market growth.
The global welding materials market in North America is predicted to have a notable growth over the forecast period for its growing demand in the marine industry and increasing construction activities.
The global welding materials market in Europe is predicted to have healthy growth over the forecast period for the growing automotive and aerospace industries.
The global welding materials market in the MEA and Latin America is predicted to have stable growth over the forecast period for rapid industrialization.
Key Players
Notable players profiled in the global welding materials industry report include Gedik Welding (India), Tianjin Bridge Welding Materials Group Co., Ltd. (China), The Lincoln Electric Company (the U.S.), Praxair Technology, Inc. (the U.S.), The Linde Group (Germany), Illinois Tool Works Inc. (the U.S.), Colfax Corporation (the U.S.), Air Products and Chemicals, Inc. (the U.S.), Air Liquide (France), and Ador Welding Ltd. (India). Industry players have adopted strategies such as mergers, product launches, and acquisitions to strengthen their position in the market.
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