The welding materials market plays a pivotal role in various industries. It supplies essential components for joining metals efficiently. Applications span from construction, automotive, and aerospace to manufacturing sectors. Diverse welding techniques such as MIG, TIG, and arc welding utilize materials tailored to specific requirements, such as strength, corrosion resistance, and conductivity. Key features of welding materials include weldability, ductility, and durability. Advanced materials such as flux-cored wires and innovative techniques such as laser welding contribute to improved productivity, safety, and quality in welding processes across industries.
According to Data Bridge Market Research, the Global Welding Materials Market, which was USD 15.04 billion in 2022, is expected to reach USD 22.73 billion by 2030 and is expected to undergo a CAGR of 5.30% during the forecast period of 2023-2030.
“Rising demand from end-use industries boosts the market’s growth”
The extensive utilization of welding materials in critical end-user sectors such as transportation and automotive significantly propels market expansion. The automotive industry, in particular, serves as a substantial catalyst for the welding material market. These materials play a vital role in producing and joining various automotive parts, including body frames, exhaust systems, and engine components. The increasing preference for lightweight and high-strength materials such as advanced steel and aluminum in vehicles further amplifies the demand for welding materials. This aligns with the automotive sector's continuous progress, addressing consumers' growing requirements for welding materials.
What restraints the growth of the global welding materials market?
“Shortage of skilled welders restraints the market’s growth”
The global welding materials market has faced constraints due to a shortage of skilled welders in manufacturing facilities. Additionally, the period between 2023 and 2030 is expected to present challenges related to rising health issues and safety concerns within the industry. These factors collectively hinder market growth, emphasizing the need for addressing workforce skills and safety measures to sustain and thrive in the welding materials market.
Segmentation: Global Welding Materials Market
The global welding materials market is segmented on the basis of type, technology, and end-use.
- On the basis of type, the global welding materials market is segmented into electrode and fillers, fluxes and wires, and gases.
- On the basis of technology, the global welding materials market is segmented into arc welding, resistance welding, and oxy-fuel welding.
- On the basis of end-use, the global welding materials market is segmented into automotive and transportation, building and construction, marine, oil and gas.
Regional Insights: Asia-Pacific dominates the Global Welding Materials Market
Asia-Pacific dominates the welding materials market, driven by the growing presence of India and China. These nations are spearheading heightened construction endeavors in both residential and commercial sectors. Simultaneously, the expanding transportation sector further contributes to the region's supremacy in this market.
North America is projected to experience substantial growth attributed to the surging demand for welding materials within the transportation industry. This heightened demand is driven by various factors, including infrastructure development, automotive manufacturing, and the need for efficient transportation solutions, positioning North America as a key growth region in the welding materials market.
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Recent Developments
- In 2020, Voestalpine Bohler Welding made a strategic move by acquiring Selco s.r.l. This acquisition was intended to improve customer service and drive profitable business growth for the company.
- In 2019, Lincoln Electric formed an agreement with Kaynak Teknigi Sanayi ve Ticaret A.S. to enhance its existing product lineup and bolster the company's regional expansion strategy. This strategic partnership aimed to improve product offerings and accelerate Lincoln Electric's growth in the region.
The Prominent Key Players Operating in the Global Welding Materials Market Include:
- Ador Welding Ltd (India)
- Air Liquide (Paris)
- Air Products and Chemicals, Inc (U.S.)
- Colfax Corporation (Maryland)
- Illinois Tool Works Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global welding materials market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Welding Materials Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
