The welding industry covers welding consumables, welding equipment and welding services. Welding consumables market account for a major share of the welding industry in terms of revenue compared to welding services and welding equipment. In spite of being a mature market, the welding consumables market is observing a continuous technological advancement and upgradation of welding techniques in various welding applications. The welding consumables market has been experiencing a change from electrodes towards solid and flux cored wired due to higher production efficiency in welding consumables products. Innovation and technological advancements in global welding consumables market in order to develop techniques for wider application area is anticipated to create further opportunity in global welding consumables market over the coming years. Rising welding consumables requirement owing to growing welded steel demand in commercial and residential building construction is expected to positively impact the global welding consumables market in the coming future.
Global Welding Consumables Market: Drivers & Restraints
Global increase in demand from growing end use industries such as automobile, transportation and infrastructure particularly in emerging economies of Asia Pacific is expected to remain a key driving factor for global welding consumables market during the forecast period. Rising welding consumables requirement owing to growing welded steel demand in automotive and construction is anticipated to drive the market during the forecast period. Apart from these new infrastructural projects in Asia Pacific and Latin America is expected to drive the demand for global consumables market over the forecast period. Increasing number of vehicles on road coupled with growth and expansion activities among end use industries is anticipated to drive the demand for global welding consumables market. Skilled labour shortage in manufacturing industries coupled with high labour cost is expected to act as a barrier in global welding consumables market over the forecast period.
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Global Welding Consumables Market: Segmentation
On the basis of product type, the global welding consumables market is segmented into,
- Stick Electrodes
- Solid Wires
- Flux –cored Wires
- SAW wires and Fluxes
On the basis of application, the global welding consumables market is segmented into
- Automotive & Transportation
- Building & construction
- Marine Applications
- Defence & Aerospace
Global Welding Consumables Market: Region-wise Outlook
In terms of geography, the global welding consumables market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan.The global welding consumables market is expected to register healthy CAGR during the forecast period. Asia Pacific is expected to dominate global welding consumables market over the forecast period owing to presence of large end use industries in this region. With growth of manufacturing plants in regions like Europe and Asia Pacific, mainly in emerging economies such as China, Japan and India, global welding consumables market is expected to showcase steady growth in future. Middle East and Africa is expected to witness significant growth owing to growing automotive industry demand and raw materials availability required in automotive and transportation industry.
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Global Welding Consumables Market: Key Players
Some of the market participants in the global welding consumables market are ESAB, Lincoln Electric, Illinois Tool Work, Vorarc Welding CC, Promax Welding, Obara Corporation, DAIHEN Corporation, Kiswel Inc, Royal Arc Electrodes Limited, Kobe Steel Limited, Arcsel LLC, Corodur Fulldraht GmbH
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