U.S.Welding Consumables Market: Introduction
TransparencyMarket Research delivers key insights on the U.S. weldingconsumables market. In terms of volume, the U.S. weldingconsumables market is projected to expand at a CAGR of ~4% duringthe forecast period, owing to numerous factors, regarding which TMR offersthorough insights and forecasts in its report on the U.S. welding consumablesmarket.
The weldingconsumables market in the U.S. is expanding at an exponential rate. Weldingconsumables are widely used for the purpose of fabrication. The fabricationindustry is centered on manufacturing components that are vital for theassembly of large machines and structures. Comprising metal, plastics, and woodfabrication, fabrication products are used in a wide range of applications inbuilding & construction, automotive & transportation, power generation,and mining industries. Welding consumables are also employed in criticalmaintenance applications. Welding consumables offer superior physicalcharacteristics vis-à-vis other methods of joining such as riveting.
U.S. Welding Consumables Market:Dynamics
Welding isa sculptural process, wherein thermoplastics or metals are joined together withthe help of coalescence. Filler metals are used during the course of welding.Flux is commonly employed to produce a shield of gas around the weld. Thisprevents oxidation of metals. Electrodes, filler metals, and fluxes arecollectively known as welding consumables. Rapid expansion of end-useindustries such as construction, manufacturing, automotive &transportation, oil & gas, and power generation is anticipated to drive thewelding consumables market. The expansion of the welding consumables market inthe U.S. is projected to be further driven by Foreign Direct Investment (FDI)in construction as well as other industries. Evolving automobile designscoupled with the addition of new safety features in them is offering lucrativeopportunities to manufacturers to employ new welding techniques, therebyfueling the welding consumables market. There exists high potential for weldingconsumables in wind and solar energy industries. The wind energy industryoffers immense growth opportunities for manufacturers of welding consumables.The demand for wind power is constantly increasing across the globe due toenvironmental concerns, stringent regulations regarding carbon emissions, andfootprint reduction initiatives.
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The highconsumption of steel has been the major factor driving the U.S. economy, sincethe past few years. After trade restrictions were imposed in the U.S., steelimports declined to their lowest level since 2011. This helpedincrease domestic steel production, thus benefitting the steel mills in theU.S. Construction and automotive industries are the leading consumers of steelin the U.S. The per capita consumption of steel has increased gradually in thecountry over the years. Thus, growth in steel consumption is estimated tocreate significant demand for welding consumables during the forecast period.Welding consumables such as flux-cored wires, stick electrodes, and SAW fluxand wires are key materials required for fabrication of steel components. Oneton of steel approximately requires 5 kg of welding materials; hence, rise inusage of steel is projected to positively impact the demand for weldingconsumables in the U.S.
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Manufacturingprocesses and technologies have been constantly evolving in aircraft andaerospace industries. Lighter metals are being used in the construction ofaircraft. New processes and methods of welding of these metals are also beingdeveloped. The aerospace industry in the U.S. is considered the largest in theworld. It is expected to manufacture large units of aircraft in the nearfuture, leading to higher utilization of welding materials. This is estimatedto propel the U.S. welding consumables market during the forecast period.
SpaceExploration Technologies Corp., the U.S.-based aerospace manufacturing andspace transportation services company had launched more than 700 satellitesinto the orbit up to October 2021. It plans torelease a total of 12,000 satellitesby 2026.The specialized welding process involved in the manufacture of these satelliteis expected to propel the U.S. welding consumables market.
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U.S.Welding Consumables Market: Key Players
Key playersoperating in the U.S. welding consumables market are ESAB, KOBE STEEL, Ltd.,Air Liquide, Illinois Tool Works Inc., The Lincoln Electric Company,voestalpine Böhler Welding GmbH, Welding Alloys Group, and Mitco Weld ProductsPvt. Ltd.
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