Welding Materials Market is projected to be worth USD 17.82 Billion by 2030, registering a CAGR of 4.30% during the forecast period (2022 - 2030).
Welding Materials Market Overview Welding Materials Market is projected to be worth USD 19.42 Billion by 2030, registering a CAGR of 5.30% during the forecast period (2022 - 2030).Welding is one of the most essential fabrication procedures for joining metal or thermoplastic pieces together. The welding method fuses metal pieces at high temperatures without melting the base metal. Welding is not the same as brazing or soldering, which are both low-temperature metal joining techniques. This procedure typically includes the use of filler material at the site of connecting to pool the metal components. The inclusion of welding material in the form of a joint pool or a weld pool gives the structure tremendous strength. The point of connection is usually stronger than the base materials or metals. Welding uses a variety of energy sources, including gas flames, electric arcs, laser beams, friction, and ultrasound. The cost of welding is determined by the process and material used, ranging from the low-cost arc and oxy-fuel welding to high-priced laser and electron beam welding. Electrodes, fillers, fluxes, wires, and gases are some of the most common welding materials. The strength and durability of welding materials are advantages for the structure. Welding materials are useful in practically all major industries, including transportation, automotive, building & construction, marine, power, and oil & gas, since they have exceptional strength, design flexibility, and lifespan.
Global Welding Materials Market Share, by End-Use Industry, 2017 (%)
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.
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 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
|Market Size||2030: USD 19.42 Billion|
|CAGR||5.30% ( 2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|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|
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.