Welding Materials Market Research Report - Forecast to 2030

Welding Materials Market, by Type (Electrode & Fillers, Fluxes & Wires, Gases), Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding), End-Use Industry (Automotive & Transportation, Building & Construction, Marine, Oil & Gas), and Region till 2030

ID: MRFR/CnM/1194-HCR | February 2021 | Region: Global | 116 pages

Welding Materials Market

Welding Materials Market is projected to be worth USD 17.82 Billion by 2030, registering a CAGR of 4.9% during the forecast period (2021 - 2030).

Segmentation

By Type Electrode & Fillers Fluxes & Wires Gases
By Technology Arc Welding Resistance Welding Oxy-Fuel Welding
By End Use Industry Automotive & Transportation Building & Construction Marine Oil & Gas

Key Players

  • Ador Welding Ltd.
  • Air Liquide
  • Air Products and Chemicals Inc.
  • Colfax Corporation
  • Illinois Tool Works Inc.
  • The Linde Group
  • Praxair Technology Inc.
  • The Lincoln Electric Company
  • Gedik Welding

Drivers

  • Increasing demand for high strength lightweight and stiff structures in the aerospace automotive and marine industries
  • Increasion adoption of welding techniques such as laser welding and ultrasonic welding
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Welding Materials Market Overview

Welding is one of the important fabrication processes in which different parts of metal or thermoplastic are joined together. The welding process causes the high-temperature fusion of metal parts without melding the base metal. Welding is different from brazing and soldering, which involve low-temperature metal joining. Generally, this process includes the filler material, which is added at the point of joining in order to pool the metal parts. The addition of welding material in the form of joint pool or weld pool provides immense strength to the structure. Usually, the point of joint is stronger than the base materials or metals. The welding process requires a shield that protects the filler materials or melted metal parts from oxidation and contamination. The welding process involves various energy sources such as gas flame, electric arc, laser beam, friction, or ultrasound. The process and material of welding determine the cost, from inexpensive arc and oxy-fuel welding to the highly expensive laser and electron beam welding. The most common types of welding materials are electrodes, fillers, fluxes, wires, and gases, among others.


The advantage of welding materials is the strength and durability they offer to the structure. The welded parts exhibit excellent strength, high design flexibility, and longevity, which makes welding materials applicable in almost all major industries, including transportation, automotive, building & construction, marine, power, and oil & gas. The demand for high strength, lightweight, and stiff structures in the aerospace, automotive, and marine industries is increasing with the development of new designs and changing environmental standards regarding emissions. Global automotive production reached 97.31 million units in 2017, an increase of 2.4% as compared to 2016. This trend is expected to continue during the forecast period due to the steady rise in demand for both commercial vehicles and passenger cars. Construction activities across the world are increasing with a significant rise in investments in infrastructure development in almost all the major developing regions such as Asia-Pacific, North Africa, Latin America, and the Middle East. The major coastal military powers, namely, the U.S., Russia, China, and India, are investing major shares of their GDP in the defense and marine sectors and rapidly adopting modern technologies in the development of highly engineered structures. This is expected to fuel the demand for welding materials used in the manufacturing of these structures. However, the capital-intensive nature of the metal industry, need for skilled labor, and high risk of accidents is likely to diminish the growth of this market in the coming years.


Global Welding Materials Market Share, by End-Use Industry, 2017 (%)


 Welding Materials Market Share


Regional Analysis


The global welding materials market has been segmented into five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Asia-Pacific is expected to be the largest market in terms of market size. This region accounted for over 40% of the global market in 2017. The primary factor driving the growth of this regional market is the increasing demand for welding materials in major end-use industries such as automotive, construction, and marine. The governments of developing countries in this region, such as India, China, and South Korea, are focusing on infrastructure development and integrating their regional transportation systems. This is likely to boost the demand for welding materials in Asia-Pacific.


The North American market was the second-largest, in terms of market size, in 2017, with the U.S. as the largest contributor to the growth of the market. This growth can be attributed to increasing reconstruction activities and the rising demand for welding materials in the marine industry. Europe is another significant region in the global welding materials market. The major markets in this region are the U.K., France, Germany, Italy, and Spain. The aerospace and automotive industries in Europe are the major consumers of welding materials, which is favoring the growth of the regional market. Latin America and the Middle East & Arica held a small share of the pie in 2017, yet, in the years to follow, these markets are likely to witness considerable growth due to rapid industrialization in the regions.


Segmentation


The global welding materials market has been segmented on the basis of type, technology, end-use industry, and region.


On the basis of type, the market has been divided into electrode & filler material, fluxes & wires, gases, and others.


Based on technology, the market has been classified as arc welding, resistance welding, oxy-fuel welding, and others.


By end-use industry, the global welding materials market has been segmented into automotive and transportation, building and construction, marine, oil & gas, power, and others.


The market has been studied with respect to five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Key Players


Key players in the global welding materials market are Ador Welding Ltd. (India), Air Liquide (France), Air Products and Chemicals, Inc.(U.S.), Colfax Corporation (U.S.), Illinois Tool Works Inc. (U.S.), The Linde Group (Germany), Praxair Technology, Inc. (U.S.), The Lincoln Electric Company (U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Gedik Welding (India).

Recent Development

September 2021-Fabrisonic, a reputed solid-state metal 3D printing developer, introduces SonicLayer XÌ… Seam Welder, claiming it to be twice as robust as the existing models in the market.
Seam welders are primarily deployed for joining metal sheets or foils together for use-cases such as solar panels, continuous tubes and seams, connectors, and battery anodes and cathodes. The 10,000W SonicLayer XÌ… offers quicker travel speeds, higher downforce, thicker materials, providing higher number of material choices compared to other models.
Surge in ultrasonic welding to at least 10,000 watts power bolsters the scope of this metal seam welder. This covers higher speed, more material width/thickness, and a new range of metal alloys such as Inconel, refractory, and stainless metals.


Intended Audience



  • Welding materials manufacturers

  • Traders and distributors of welding materials

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   2022–2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Technology, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Ador Welding Ltd. (India), Air Liquide (France), Air Products and Chemicals, Inc.(U.S.), Colfax Corporation (U.S.), Illinois Tool Works Inc. (U.S.), The Linde Group (Germany), Praxair Technology, Inc. (U.S.), The Lincoln Electric Company (U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Gedik Welding (India).
  Key Market Opportunities   Rapidly adopting modern technologies in the development of highly engineered structures.
  Key Market Drivers   The demand for high strength, lightweight, and stiff structures in the aerospace, automotive, and marine industries is increasing with the development of new designs


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Frequently Asked Questions (FAQ) :

High demand for lightweight and high strength structures is the major driver of the global welding materials market.

Investments in defense and construction sectors are the secondary drivers of the global welding materials market.

The APAC region can dominate the global welding materials market due to massive product demand in end-use industries of marine, construction, and automotive.

High risk of accidents and lack of skilled laborforce are major roadblocks which can impede the global welding materials market.

Tianjin Bridge Welding Materials Group Co., Ltd., The Lincoln Electric Company, Illinois Tool Works Inc., Ador Welding Ltd., Air Liquide, Praxair Technology, Inc., Gedik Welding, Colfax Corporation, Air Products and Chemicals, Inc., and The Linde Group are the key players of the global welding materials market.