Global Welding Consumables Market Analysis and Forecast 2019-2028
$2,800.00 – $5,440.00
Automotive industry to drive the market growth
The global welding consumables market is expected to witness a strong growth rate of more than 5% during the projected period. Welding consumables include molten fillers providing a strong bond between the base metals. These consumables used in welding ensure cost-effective and long-lasting welding. Moreover, it also assists in the preservation of the base metal from contamination and water damage.
All these attributes have helped in the growth of welding consumables in construction, automobile, aerospace, energy, industries, and for repair & maintenance purposes. Although the automotive industry is majorly responsible for the growth of this market, other industries also play a significant role in the progress of the welding consumables market.
The increasing need for safety, integration of robotic facilities, and growing trend of customization in cars in the automotive industry are expected to drive the growth of the automotive industry, further contributing to the growth of the welding consumables market.
The emergence of advanced technologies like smart materials skyrocketed the demand for welding consumables
Smart materials are inserted with computer chips primarily to monitor the welding lifecycle and performance. The introduction of smart materials is anticipated to fuel the growth of welding materials in the forecast period. Moreover, the ease of use and less energy consumption from smart materials are expected to further fuel the demand for welding materials in the market.
Welding consumables are used in a variety of end-use industries, including oil and gas production, automotive and transportation, maritime, power generating, and building and construction, making it directly dependent on global steel consumption.
In addition, advanced technologies like Gas Tungsten Arc Welding (GTAW/TG) and Metal Inert Gas (MIG) welding are being developed and efforts are being made in the R&D process, especially for the purpose of welding thick metal pieces, constituting the main trends that are having a beneficial impact on the market’s growth.
Asia Pacific constitutes a huge market share in the global welding consumables market
Asia Pacific holds the largest market share in the global welding consumables market. This growth is backed by increasing activities in the construction industry and growth in the automotive and transportation sector. Moreover, the increasing penetration of semi-automatic and automatic welding production systems will drive the growth of the market.
Countries like India, are backed by rapid industrialization and urbanization, increasing the demand for better infrastructural amenities, overall contributing to the growth of the global welding consumables market. Whereas, countries like the US are utilizing oxy-fuel, ultrasonic, resistance, and stir welding techniques across various industries, further supplementing the growth of the market.
In Latin America, Brazil is expected to boost the demand for welding equipment and consumables owing to the stable economic growth supported by the growth of the construction industry in the region. Africa and GCC states including Saudi Arabia and UAE are expected to involve in construction projects in the upcoming years, catalysing the growth of the global welding consumables market.
Furthermore, the welding consumables market in other regions like North America and Europe are anticipated to witness lucrative opportunities owing to the speedy adoption of new and advanced technologies in the regions.
Additionally, the global welding consumables market’s competitors are leaning toward automation at various points in the welding process, and it is anticipated that the development of robots and automation software will be viable trends that favourably impact the market’s expansion over the forecast period.
Market Structure and Competitive Landscape
The global welding consumables market is fragmented in nature with various players operating in the market, some of the prominent players that contribute significantly to the global welding consumables market include The Lincoln Electric Inc, Colfax Corporation, Voestalpine AG, Kobe Steel Limited, Linde Plc, Illinois Tool Works Inc, Air Liquide S.A., Taiyo Nippon Sanso Corporation, Hyundai Welding Co Ltd, MESSER Group GmbH, Tianjin Golden Bridge Welding Materials Group International Trading Co., Yawata Electrode Co Ltd, D & H India, DAIHEN Corporation, Arcon Welding Equipment, Panasonic Welding Corporation, Miyachi Corp, ROFIN-SINAR Technologies, and Miller Electric Manufacturing LLC among others.
These players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, product launches, partnerships, and collaborations are some of the strategies followed by industry players. Some of the key developments in the global welding consumables market include,
- In June 2021, ESAB announced that it had introduced new series of B3 SCelectrodes and fluxes. This was mainly done as part of the company’s plan to expand its line of filler metals for chrome-molybdenum welding in power generation, petrochemical, refinery, and pressure vessel applications.
- In July 2021, ESAB announced that it had introduced Exaton 19.9.Nb HF, a 300 series austenitic steel SAW (submerged arc welding) wire with niobium and high ferrite content to further enhance weld deposit mechanical properties at elevated temperatures.
- In March 2020, Voestalphine Bohler acquired Selco S.R.L. to develop a presence and emerge as a complete welding solutions provider in Europe.
- In September 2019, Yaskawa Motoman unveiled ArcWorld 50 series with advanced welding functions, including weld inspection and process monitoring.
- In May 2019, Lincoln Electric entered into a collaboration with Kaynak Teknigi Sanayi ve Ticaret to strengthen its current product portfolio and to advance its regional growth strategy.
Key Market Segmentation
RationalStat has segmented the global welding consumables market based on product, technology, end user industry, sales channel, and region.
- By Product
- Stick Electrodes
- Consumable Rings
- Solid Wires
- Flux-Cored Wires
- SAW Wires and Fluxes
- Welding Gases
- By Sales Channel
- Offline
- Online
- By Technology
- Arc Welding
- Shield Metal Arc Welding
- Gas Metal Arc Welding
- Flux Cored Arc Welding
- Gas Tungsten Arc Welding
- Resistant Welding
- Energy Beam Welding
- Oxy-fuel Welding
- Laser Beam Welding
- Others (Ultrasonic welding, Electro Slag Welding, etc.)
- Arc Welding
- By End User Industry
- Automotive & Transportation
- Aftermarket Garages
- Aerospace and Defense
- Heavy Engineering
- Shipbuilding and Ship Repair & Maintenance
- Green Energy
- Steel
- Oil & Gas
- Cement
- Power
- Construction
- Residential
- Commercial
- Industrial
- Infrastructure
- Others (Repair & Maintenance, etc.)
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide clients with the best possible real-time insights. We combine various industry experiences, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for global welding consumables manufacturers and suppliers, government organizations, educational organizations, regulatory agencies, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global welding consumables market is expected to grow at a CAGR of approximately 5% during the forecast period 2022-2028.
The global market for welding consumables is estimated at around US$ 18.5 Billion in 2022.
The emergence of new and advanced technologies and increasing applications of welding consumables in various industries are the major trends in the global welding consumables market.
Asia Pacific holds a prominent share of the global welding consumables market.
Major companies operating in the global welding consumables market include The Lincoln Electric Inc, Colfax Corporation, Voestalpine AG, Colfax Corporation, Kobe Steel Limited, Linde Plc, Illinois Tool Works Inc, Air Liquide S.A., Taiyo Nippon Sanso Corporation, Hyundai Welding Co Ltd, MESSER Group GmbH, Tianjin Golden Bridge Welding Materials Group International Trading Co., Ltd, Yawata Electrode Co Ltd, D & H India, DAIHEN Corporation, Arcon Welding Equipment, Panasonic Welding Corporation, Miyachi Corp, Lincoln Electric Holdings, ROFIN-SINAR Technologies, and Miller Electric Manufacturing LLC among others.
| REGION | Global |
|---|---|
| RELEASE YEAR | 2023 |
| RESEARCH CODE | RST-SAR-133 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.3.1.Procurement of Raw Materials
6.3.2.Suppliers and Traders
6.3.3.Welding Consumables Manufacturers
6.3.4.End User
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws & Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Opportunities
9. Global Welding Consumables Market: Key Investment Analysis
9.1. By Welding Consumables Manufacturers
9.2. By Key Industry Players
9.3. By Technology
9.4. By End User
9.5. By Region
9.6. M&A Activities
Robust assessment of major investments made by various industry players along with key therapeutic application areas, therapy type, and key region
10. EXIM Analysis
10.1. Export in Value (US$) and Volume (‘000 tons)
10.1.1. Major Exporting Countries
10.1.2. Key Export Destinations
10.2. Import in Value (US$) and Volume (‘000 tons)
10.2.1. Major Importing Countries
10.2.2. Key Import Destinations
11. Production Capacity
12. Capacity Addition by Region over the period of 2019-2028
13. Parent Market Overview: Global Welding Market
14. Segmental Analysis
14.1. Global Welding Consumables Market by Product in terms of Value (US$ Million) and Volume (‘000 Units/Tons)
14.1.1. Segment Overview
14.1.1.1. Stick Electrodes
14.1.1.2. Consumable Rings
14.1.1.3. Solid Wires
14.1.1.4. Flux-Cored Wires
14.1.1.5. SAW Wires and Fluxes
14.1.1.6. Welding Gases
14.2. Global Welding Consumables Market by Technology in terms of Value (US$ Million) and Volume (‘000 Units/Tons)
14.2.1. Segment Overview
14.2.1.1.1. Shield Metal Arc Welding
14.2.1.1.2. Gas Metal Arc Welding
14.2.1.1.3. Flux Cored Arc Welding
14.2.1.1.4. Gas Tungsten Arc Welding
14.2.1.2. Resistant Welding
14.2.1.3. Energy Beam Welding
14.2.1.4. Oxy-fuel Welding
14.2.1.5. Laser Beam Welding
14.2.1.6. Others (Ultrasonic welding, Electro Slag Welding, etc.)
14.3. Global Welding Consumables Market by End User Industry in terms of Value (US$ Million) and Volume (‘000 Units/Tons)
14.3.1. Segment Overview
14.3.1.1. Automotive & Transportation
14.3.1.2. Aftermarket Garages
14.3.1.3. Aerospace and Defense
14.3.1.4. Heavy Engineering
14.3.1.5. Shipbuilding and Ship Repair & Maintenance
14.3.1.6. Green Energy
14.3.1.7. Steel
14.3.1.8. Oil & Gas
14.3.1.9. Cement
14.3.1.10. Power
14.3.1.11. Construction
14.3.1.11.1. Residential
14.3.1.11.2. Commercial
14.3.1.11.3. Industrial
14.3.1.12. Infrastructure
14.3.1.13. Others (Repair & Maintenance, etc.)
14.4. Global Welding Consumables Market by Region in terms of Value (US$ Million) and Volume (‘000 Units/Tons)
14.4.1. Segment Overview
14.4.1.1. North America
14.4.1.2. Latin America
14.4.1.3. Western Europe
14.4.1.4. Eastern Europe
14.4.1.5. Asia Pacific
14.4.1.6. Middle East & Africa
15. Regional Analysis
15.1. North America Welding Consumables Market Analysis and Forecast 2019-2028
15.1.1. Regional Market Overview and Key Takeaways
15.1.2. North America Welding Consumables Market by Product
15.1.3. North America Welding Consumables Market by Technology
15.1.4. North America Welding Consumables Market by End User Industry
15.1.5. North America Welding Consumables Market by Country
15.1.5.1. US
15.2. Latin America Welding Consumables Market Analysis and Forecast 2019-2028
15.2.1. Regional Market Overview and Key Takeaways
15.2.2. Latin America Welding Consumables Market by Product
15.2.3. Latin America Welding Consumables Market by Technology
15.2.4. Latin America Welding Consumables Market by End User Industry
15.2.5. Latin America Welding Consumables Market by Country
15.2.5.1. Brazil
15.2.5.2. Mexico
15.2.5.3. Rest of Latin America
15.3. Western Europe Welding Consumables Market Analysis and Forecast 2019-2028
15.3.1. Regional Market Overview and Key Takeaways
15.3.2. Western Europe Welding Consumables Market by Product
15.3.3. Western Europe Welding Consumables Market by Technology
15.3.4. Western Europe Welding Consumables Market by End User Industry
15.3.5. Western Europe Welding Consumables Market by Country
15.3.5.1. Germany
15.3.5.2. UK
15.3.5.3. France
15.3.5.4. Spain
15.3.5.5. Italy
15.3.5.6. Benelux
15.3.5.7. Nordic
15.3.5.8. Rest of Western Europe
15.4. Eastern Europe Welding Consumables Market Analysis and Forecast 2019-2028
15.4.1. Regional Market Overview and Key Takeaways
15.4.2. Eastern Europe Welding Consumables Market by Product
15.4.3. Eastern Europe Welding Consumables Market by Technology
15.4.4. Eastern Europe Welding Consumables Market by End User Industry
15.4.5. Eastern Europe Welding Consumables Market by Country
15.4.5.1. Russia
15.4.5.2. Poland
15.4.5.3. Rest of Eastern Europe
15.5. Asia Pacific Welding Consumables Market Analysis and Forecast 2019-2028
15.5.1. Regional Market Overview and Key Takeaways
15.5.2. Asia Pacific Welding Consumables Market by Product
15.5.3. Asia Pacific Welding Consumables Market by Technology
15.5.4. Asia Pacific Welding Consumables Market by End User Industry
15.5.5. Asia Pacific Welding Consumables Market by Country
15.5.5.1. China
15.5.5.2. Japan
15.5.5.3. India
15.5.5.4. South Korea
15.5.5.5. Australia
15.5.5.6. ASEAN
15.5.5.7. Rest of Asia-Pacific
15.6. Middle East & Africa Welding Consumables Market Analysis and Forecast 2019-2028
15.6.1. Regional Market Overview and Key Takeaways
15.6.2. Middle East & Africa Welding Consumables Market by Product
15.6.3. Middle East & Africa Welding Consumables Market by Technology
15.6.4. Middle East & Africa Welding Consumables Market by End User Industry
15.6.5. Middle East & Africa Welding Consumables Market by Country
15.6.5.1. GCC
15.6.5.2. South Africa
15.6.5.3. Turkey
15.6.5.4. Rest of the Middle East & Africa
16. Competitive Landscape
16.1. Competition Dashboard
16.1.1. Global and Regional Market Share Analysis
16.1.2. Market Structure
16.2. Competitive Benchmarking
16.3. Key Strategy Analysis
16.4. Company Profiles
16.4.1. The Lincoln Electric Inc
16.4.1.1. Company Overview
16.4.1.2. Product/Service Offerings
16.4.1.3. Key Financials
16.4.1.4. Recent Developments
16.4.2. ESAB
16.4.2.1. Company Overview
16.4.2.2. Product/Service Offerings
16.4.2.3. Key Financials
16.4.2.4. Recent Developments
16.4.3. Voestalpine AG
16.4.3.1. Company Overview
16.4.3.2. Product/Service Offerings
16.4.3.3. Key Financials
16.4.3.4. Recent Developments
16.4.4. Linde Plc
16.4.4.1. Company Overview
16.4.4.2. Product/Service Offerings
16.4.4.3. Key Financials
16.4.4.4. Recent Developments
16.4.5. Illinois Tool Works Inc
16.4.5.1. Company Overview
16.4.5.2. Product/Service Offerings
16.4.5.3. Key Financials
16.4.5.4. Recent Developments
16.4.6. Air Liquide S.A.
16.4.6.1. Company Overview
16.4.6.2. Product/Service Offerings
16.4.6.3. Key Financials
16.4.6.4. Recent Developments
16.4.7. Taiyo Nippon Sanso Corporation
16.4.7.1. Company Overview
16.4.7.2. Product/Service Offerings
16.4.7.3. Key Financials
16.4.7.4. Recent Developments
16.4.8. Hyundai Welding Co Ltd
16.4.8.1. Company Overview
16.4.8.2. Product/Service Offerings
16.4.8.3. Key Financials
16.4.8.4. Recent Developments
16.4.9. MESSER Group GmbH
16.4.9.1. Company Overview
16.4.9.2. Product/Service Offerings
16.4.9.3. Key Financials
16.4.9.4. Recent Developments
16.4.10. Tianjin Golden Bridge Welding Materials Group International Trading Co
16.4.10.1. Company Overview
16.4.10.2. Product/Service Offerings
16.4.10.3. Key Financials
16.4.10.4. Recent Developments
16.4.11. Air Liquide Welding
16.4.11.1. Company Overview
16.4.11.2. Product/Service Offerings
16.4.11.3. Key Financials
16.4.11.4. Recent Developments
16.4.12. D&H India
16.4.12.1. Company Overview
16.4.12.2. Product/Service Offerings
16.4.12.3. Key Financials
16.4.12.4. Recent Developments
16.4.13. ITW
16.4.13.1. Company Overview
16.4.13.2. Product/Service Offerings
16.4.13.3. Key Financials
16.4.13.4. Recent Developments
16.4.14. Bohler
16.4.14.1. Company Overview
16.4.14.2. Product/Service Offerings
16.4.14.3. Key Financials
16.4.14.4. Recent Developments
16.4.15. Panasonic Welding Corporation
16.4.15.1. Company Overview
16.4.15.2. Product/Service Offerings
16.4.15.3. Key Financials
16.4.15.4. Recent Developments
16.4.16. Miyachi Corporation
16.4.16.1. Company Overview
16.4.16.2. Product/Service Offerings
16.4.16.3. Key Financials
16.4.16.4. Recent Developments
16.4.17. Tianjin Golden Bridge
16.4.17.1. Company Overview
16.4.17.2. Product/Service Offerings
16.4.17.3. Key Financials
16.4.17.4. Recent Developments
16.4.18. Miller Electric Manufacturing LLC
16.4.18.1. Company Overview
16.4.18.2. Product/Service Offerings
16.4.18.3. Key Financials
16.4.18.4. Recent Developments
17. Disclaimer
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Research Methodology
Complete Table of Contents, List of Charts and Tables
Exclusive Facts & Illustrations
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