The global welding consumables market was valued at $16.1 billion in 2022, and is projected to reach $27.5 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
Welding consumables are materials used up during the welding process to join two or more pieces of metal together. These materials are essential for creating a strong and reliable weld.
The aerospace and defense industry requires precise and high-quality welding for the fabrication of aircraft, missiles, and military vehicles. The demand for lightweight materials and advanced welding techniques in this sector contributes to the market growth.
Moreover, as urbanization and infrastructure development continue to rise globally, there is a growing demand for welding in the construction of buildings, bridges, roads, and other infrastructure projects. Electrodes are commonly used in various welding processes to join structural components, reinforcing the demand for electrodes. Furthermore, many industries, including automotive, aerospace, shipbuilding, and manufacturing, rely heavily on welding processes to fabricate and assemble components. The expansion of these industries leads to increase in need for electrodes for various welding application; thus, fueling the market growth.
However, in some applications, welding consumables are replaced with alternative joining methods such as adhesive bonding, fastening, and 3D printing. These alternatives offer advantages in terms of weight reduction, design flexibility, and reduced heat-affected zones, which can limit the demand for welding consumables. Thus, restraining the market growth.
On the contrary, advances in welding technology, such as the development of new welding processes, robotic welding systems, and consumable materials with improved performance, drive the market growth, as industries seek more efficient and cost-effective solutions. This is expected offer lucrative opportunities for the welding consumables market during the forecast period.
The welding consumables market is segmented on the basis of type, welding technique, and region. On the basis of type, the market is categorized into electrodes, flux, shielding gas, filler metals, and others. On the basis of welding technique, it is divided into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Welding consumables are materials used up during the welding process to join two or more pieces of metal together. These materials are essential for creating a strong and reliable weld.
The aerospace and defense industry requires precise and high-quality welding for the fabrication of aircraft, missiles, and military vehicles. The demand for lightweight materials and advanced welding techniques in this sector contributes to the market growth.
Moreover, as urbanization and infrastructure development continue to rise globally, there is a growing demand for welding in the construction of buildings, bridges, roads, and other infrastructure projects. Electrodes are commonly used in various welding processes to join structural components, reinforcing the demand for electrodes. Furthermore, many industries, including automotive, aerospace, shipbuilding, and manufacturing, rely heavily on welding processes to fabricate and assemble components. The expansion of these industries leads to increase in need for electrodes for various welding application; thus, fueling the market growth.
However, in some applications, welding consumables are replaced with alternative joining methods such as adhesive bonding, fastening, and 3D printing. These alternatives offer advantages in terms of weight reduction, design flexibility, and reduced heat-affected zones, which can limit the demand for welding consumables. Thus, restraining the market growth.
On the contrary, advances in welding technology, such as the development of new welding processes, robotic welding systems, and consumable materials with improved performance, drive the market growth, as industries seek more efficient and cost-effective solutions. This is expected offer lucrative opportunities for the welding consumables market during the forecast period.
The welding consumables market is segmented on the basis of type, welding technique, and region. On the basis of type, the market is categorized into electrodes, flux, shielding gas, filler metals, and others. On the basis of welding technique, it is divided into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the welding consumables market analysis from 2022 to 2032 to identify the prevailing welding consumables market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the welding consumables market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global welding consumables market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Electrodes
- Flux
- Shielding Gas
- Filler Metals
- Others
By Welding Technique
- Arc Welding
- Resistance Welding
- Oxy-fuel Welding
- Laser-beam Welding
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Kobe Steel, Ltd.
- The Lincoln Electric Company
- VDM Metals
- ESAB
- Royal Arc
- D&H Scheron
- ESS AAR INDUSTRIES
- Weldcom Electrodes Pvt. Ltd.
- Senor Metals Pvt. Ltd.
- Sharp Electrodes (P) LTD.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WELDING CONSUMABLES MARKET, BY TYPE
CHAPTER 5: WELDING CONSUMABLES MARKET, BY WELDING TECHNIQUE
CHAPTER 6: WELDING CONSUMABLES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the welding consumables market was valued at $16.1 billion in 2022, and is estimated to reach $27.5 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032."Welding materials" is a broad term that refers to the various components, substances, and materials used in the welding process to join two or more pieces of metal together. These materials are essential for creating a strong and reliable weld.
Filler materials such as welding electrodes, welding wires, and flux-cored wires, are added to the joint during welding to help fuse the base metals together. They are selected based on the welding process, the type of base metals being joined, and the specific requirements of the weld.
Shielding gases are used to protect the weld zone from atmospheric contamination in some welding processes. Common shielding gases include argon, helium, carbon dioxide, and gas mixtures. These gases are typically used in processes such as gas metal arc welding (GMAW or MIG welding) and gas tungsten arc welding (GTAW or TIG welding).
Growing population base has led to rapid urbanization in both, developed and developing economies such as the U.S., China, India, and others. This has increased government spending on the building & construction sector to develop various upcoming infrastructure projects. For instance, according to a report published by National Investment Promotion and Facilitation Agency, the infrastructure activities accounted for 13% share of the total foreign direct investment (FDI) inflows in 2021. Furthermore, rapid development of water supply, sanitation, urban transport, schools, and healthcare aid in the growth of the building & construction sector where welding consumables are widely used for connecting steel beams, trusses, columns, and footers, to support the walls, roofs, and others.
The demand for welding consumables is closely tied to infrastructure development projects, such as the construction of buildings, bridges, highways, and pipelines. As countries invest in infrastructure development, there is a growing need for welding to join and fabricate structural components.
Moreover, factors such as rise in demand for air travel, introduction of modern aircrafts, and others have led the aerospace sector to witness a significant growth. Moreover, countries such as the U.S., China, India, and others are constantly engaged in manufacturing advanced fighter jets with modern armor facilities, which in turn has augmented the growth of the aerospace and defense sector.
The aerospace and defense industry requires precise and high-quality welding for the fabrication of aircraft, missiles, and military vehicles. The demand for lightweight materials and advanced welding techniques in this sector contributes to the market growth.
Furthermore, welding is an integral part of the automotive and transportation industry for manufacturing vehicles, trailers, and components. As this industry evolves with new technologies and materials, the demand for welding consumables, including specialized ones for aluminum and high-strength steel continues to grow. Thus driving the demand for welding consumables.
Additionally, the oil and gas industry relies heavily on welding for the construction and maintenance of pipelines, refineries, and offshore structures. The growth in the energy sector, including the expansion of shale oil and gas production, contributes to the demand for welding consumables. Thus, driving the growth of the market.
However, the welding consumables market is sensitive to economic fluctuations. During economic downturns, construction and manufacturing activities often slow down, leading to reduced demand for welding consumables. Thus, economic instability constrains the market growth.
On the contrary, advances in welding technology, such as the development of new welding processes, robotic welding systems, and consumable materials with improved performance, drive the market growth, as industries seek more efficient and cost-effective solutions. This is expected offer lucrative opportunities for the welding consumables market during the forecast period.
The welding consumables market is segmented on the basis of type, welding technique, and region. On the basis of type, the market is categorized into electrodes, flux, shielding gas, filler metals, and others. On the basis of welding technique, it is divided into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global welding consumables market profiles leading players that include Kobe Steel, Ltd., the Lincoln Electric Company, VDM Metals, ESAB, Royal Arc, DAndH Scheron, ESS AAR INDUSTRIES, Weldcom Electrodes Pvt. Ltd., Senor Metals Pvt. Ltd., Sharp Electrodes (P) LTD.
The global welding consumables market report provides in-depth competitive analysis as well as profiles of these major players.
Key Findings Of The Study
By type, the electrodes segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 5.4% from 2023 to 2032.By welding technique, the arc welding segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.0% from 2023 to 2032.
Asia-Pacific garnered the highest share of morethan 40% in 2022, in terms of revenue.
Companies Mentioned
- Kobe Steel, Ltd.
- The Lincoln Electric Company
- VDM Metals
- ESAB
- Royal Arc
- D&H Scheron
- ESS AAR INDUSTRIES
- Weldcom Electrodes Pvt. Ltd.
- Senor Metals Pvt. Ltd.
- Sharp Electrodes (P) LTD.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 330 |
| Published | October 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 16.1 billion |
| Forecasted Market Value ( USD | $ 27.5 billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
