Welding Materials Market 2020 by Excellent Opportunities and Statistics by Top 5
Posted by Rishab Gupta on January 6th, 2020
September 19, 2018 – ESAB Welding & Cutting Products (India), a world leader in the production of welding and cutting equipment and consumables announced the acquisition of the Sandvik welding consumables business. Beginning November 1, this year, ESAB is planning to take these products to bring to the market under the name Exaton™, an ESAB brand. ESAB assures its customers that the excellent performance, metallurgy, and weldability of our consumables will remain the same.
Welding process refers to the joining of metals. It is a very cost-effective process, which finds its application in sectors such as transportation, construction, oil & gas, and power. The growth of the welding industry is highly dependent on the consumption of steel in various end-use industries.
The welding technologies comprise welding materials and welding services. These materials account for a significant share in the welding industry which is expected to grow rapidly both in terms of value and volume. Resultantly, the welding materials market is expected to garner huge accruals on the global platform.
Acknowledging the accruals, the market is garnering currently, Market Research Future (MRFR) in its recently published study report, asserts that the global welding materials market will grow exponentially by 2022, registering a phenomenal CAGR over the forecast period (2017-2023).
Factors supporting the market growth include the increasing demand for these materials from the automobile & aerospace manufacturing, alongside the transportation and building & construction sectors. Driven by the demand from the end-user industries, the market is highly application based.
The largest and fastest-growing region is seen as APAC with increasing consumption of such materials across all the industries. Competitive in nature the global market for welding materials is witnessing a trend of introducing materials that are energy-efficient and are gentle on the environment.
Global Welding Materials Market Segments
The welding materials market is segmented into four key dynamics for the convenience of understanding;
By Types : Electrode & Fillers, Fluxes & Wires, and Gases among others.
By Technologies : Arc Welding, Resistance Welding, and Oxy-Fuel Welding among others.
By End-Use Industries : Automotive & Transportation, Building & Construction, Marine, and Oil & Gas among others.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
The subsegment – Electrode, accounts for the largest share in the global welding materials market by types due to its huge demand across various applications. This trend is likely to continue by 2023.
Access Full Report @ https://www.marketresearchfuture.com/reports/welding-materials-market-1726
Welding Materials Market Regional Analysis
The Asia Pacific region accounts for the leading market for welding materials, globally, followed by North America and Europe respectively. The largest share of the market in the APAC is attributed to the huge demand for welding materials in the countries such as China, Japan and India due to their burgeoning automotive and construction industries.
The largest consumers of these materials in the region are transportation & automobile industry and the construction industry. There is been a lot of investment in infrastructure due to fast urbanization and industrialization. All the steel-consuming industries by far require the welding technology which augments the demand in the APAC welding materials market, supporting the market to become the largest market.
The welding materials market in the North American region accounts for the second-largest. The U.S., backed by the increasing reconstruction activities and the rising demand for welding materials in the marine industry, accounts for the key contributor to the market growth in the region.
The European region is another significant market for welding materials which is growing substantially. Markets in countries such as the U.K., Germany Italy, France, and Spain growing pervasively with their aerospace and automotive industries are favoring the growth of the regional market, consuming a substantial amount of welding materials.
Global Welding Materials Market Competitive Analysis
With the presence of several large and small market players; the global market of welding materials appears to be highly fragmented. A few large companies manufacture and supply machinery, filler materials, and accessories for the various welding processes. A number of smaller companies around the globe specializing in items such as welding torches, welders’ helmets, hammers, marking equipment, welding screens, special fluxes, etc.
To maintain their market positions; manufacturers need to meet the changing demands of their customers, competing with other manufacturers, and complying with government regulations. They continually focus on developing a new generation of improved, high-value-added products.
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About the AuthorRishab Gupta
Joined: November 25th, 2019
Articles Posted: 303
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