Farmington, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The Global Welding Consumables Market Size Was Valued At USD 12.2 Billion In 2021. The Market Is Projected To Grow From USD 12.6 Billion In 2022 To USD 16.7 Billion By 2029, Exhibiting A CAGR Of 4.1% During The Forecast Period. The COVID-19 pandemic has been shocking and has never happened before. When compared to levels before the pandemic, demand for welding supplies is lower than expected in all areas. Our research shows that the global market for welding supplies grew by 1.9% from 2019 to 2020.
"Welding consumables" are things like flux and filler metals that are used when welding. Filler metals are melted to make a strong bond between two metals, and flux keeps the metals from rusting while they are being heated. Some of the basic minerals that are used to make these things are copper, nickel, ilmenite, rutile, and aluminium.
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Recent Developments:
- In September 2019: Lincoln Electric introduces new GTAW (TIG) cut lengths in silicon preparation with stainless steel alloys for a clean, high quality welding process. Improving the manufacturing process of new products reduces the complexity of the welding process and improves product quality.
- In July 2019: ESAB launched the new, enhanced Cut Master Black series of plasma cutting consumables. This feature extends the life of the welding wire and electrodes supplied with the Cut Master 60i portable air plasma cutting system by up to 60%.
- In July 2021: ESAB announced the introduction of Exaton 19.9. Nb HF. SAW (submerged arc welding) wire made from 300 series austenitic steel with niobium and high ferrite content to further improve the mechanical properties of the weld metal at high temperatures.
Segment Analysis:
Type Insights
In many industries, metal inert gas welding is often done with solid wires (MIG). Now, the welding industry is looking for easy, cheap ways to keep workpieces safe from the outside world. An important thing about a single line is that it stops oxidation. Copper is plated on the mild steel solid wire, which makes it better at carrying electricity and makes the weld last longer.
Welding Technique Insights
The arc welding segment will grow a lot over the next few years. A process that joins metals together by using the concentrated heat of an electric arc is behind the growth. There are two kinds of these processes: those that use electrodes that need to be replaced and those that don't.
Resistance welding also grew a lot because it uses force and an electric current to heat and melt the area around the electrode and/or workpiece.
Application Insights
Heavy engineering is expected to grow at a moderate rate over the next few years because of the development of new technologies and the building of high-tech factories like smart factories, Industry 4.0, and the widespread use of robotic welding in many different industries.
The construction industry is growing quickly because of what the government is doing to improve infrastructure, how it is changing residential and commercial projects that are already in the works, and how much more foreign direct investment there is in both developed and developing countries.
Regional Outlook:
Asia-Pacific has the biggest share of the market and is expected to grow the fastest over the next few years. This is because China, India, and South Korea are home to both well-known and new companies that make welding supplies. The regional market is also driven by a lot of money coming in and a lot of smart technologies being used, like robotic welding.
The India Brand Equity Foundation (IBEF) says that major Indian companies in the technology, manufacturing, and construction industries are investing outside of India. In the long run, this will help the market grow. For example, Larson & Turbo (L&T) keeps putting money into making power equipment, and Bharat Heavy Electrical Limited (BHEL) wants to sell its products in Syria and Vietnam.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 4.1% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 12.6 Billion |
| By Type | Stick Electrodes, Solid Wires, Flux-cored Wires, SAW Wires & Fluxes, Others |
| By Application | Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas, Others |
| By Welding Technique | Arc Welding, Resistance Welding, Oxy-fuel Welding, Solid State Welding, Others |
| By Companies | Lincoln Electric (U.S.), KOBE STEEL, LTD (Japan), ESAB (U.S.), CS HOLDINGS CO., LTD. (Korea), Hyundai Welding Co., Ltd (U.S.), Panasonic Corporation (U.S.), Fronius International GmbH (Austria), RME MIDDLE EAST (UAE), voestalpine BÖHLER Edelstahl GmbH (Austria), Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (China) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Trends:
More and more people are buying smart materials that are good for the environment and use less energy. Scientists are finding ways to combine two different metals without changing their strength, resistance to corrosion, or other properties as they learn more about how materials work at the atomic level. The smart material also has a computer chip built into it to track how long welds last and make the design more flexible.
Market Driving Factors:
In the last few years, welding has become one of the easiest and most flexible ways to build things out of metal. It is also a common way for many industries to make things out of metal.
For example, welding is an important step in building buildings, bridges, pipelines, and a wide range of other engineering objects.
Key Segments Covered:
Top Market Players:
Lincoln Electric (U.S.), KOBE STEEL, LTD (Japan), ESAB (U.S.), CS HOLDINGS CO., LTD. (Korea), Hyundai Welding Co., Ltd (U.S.), Panasonic Corporation (U.S.), Fronius International GmbH (Austria), RME MIDDLE EAST (UAE), voestalpine BÖHLER Edelstahl GmbH (Austria), Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd. (China), and others.
By Product Type
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires & Fluxes
- Others
By Welding Technique
- Arc Welding
- Resistance Welding
- Oxy-fuel Welding
- Solid State Welding
- Others
By Application
- Automotive
- Building & Construction
- Heavy Engineering
- Railway & Shipbuilding
- Oil & Gas
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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