The global welding consumables market size is expected to grow from $13.42 billion in 2021 to $14.67 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The global welding consumable market size is expected to reach $18.83 billion in 2026 at a CAGR of 6.4%.
What is the Global Welding Consumables Market?
The welding consumables market consists of sales of welding consumables by entities (organization, partnership, sole traders) that are used to join the thermoplastics and metals utilizing coalescence. These are used in different applications to make them a final product in different industries. A welding consumable produces a fume composition that contains 14% chromium as Cr (III) and it is over alloyed with 2–4% Ni to encourage the formation of austenite in the weld metal and to maintain the phase balance.
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What drives the Global Welding Consumables Market?
The growth of the construction industry is contributing to the growth of the welding consumables market. The construction industry mainly involves building and repairing structures. Building construction mainly uses welding in the creation of structural frameworks from metal components. Welding has been used for connecting steel I-beams, trusses, columns, and footers, to support the walls, roof, and floors of a building. For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022. Therefore, the growth of the construction industry is driving the growth of the welding consumables market.
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Global Welding Consumables Market Segments
The global welding consumables market is segmented:
By Type: Stick Electrodes, Solid Wires, Flux Cored Wires, SAW Wires and Fluxes
By Consumables: Stick Electrodes, Gases, Strip Cladding Electrodes, Submerged Arc Wires and Fluxes, Wires, Others
By Welding Type: Arc Welding, Energy Beam Welding, Plasma Arc Welding, Submerged Arc welding, Electro Slag Welding, Resistance Welding, Others
By Application: Heavy Engineering, Automotive and Transportation, Railways, Construction, Shipbuilding, Others
By Geography: The regions covered in the welding consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global welding consumables market.
Welding Consumables Global Market Report 2022provides market size and growth forecasts for the global welding consumables market, global welding consumables market share, welding consumables market segments and geographies, welding consumables market competitive landscape including leading competitors’ revenues, profiles and market shares. The welding consumables market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Welding Consumables Industry Playersinclude Lincoln Electric Holdings Inc., Illinois Tool Works Inc, Air Liquide S.A., Hyundai Welding Co Ltd., WB Alloy Welding Products Limited, Hermann Fliess & Co. Gmbh, Voestalpine Ag, FSH Welding Group, Industrial Welding Corporation, Gedik Welding Inc., Italfil Spa, Precision Weldarc Limited, Welmet Technologies Private Limited, and Yenitek Corporate Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
