Welding Materials Market by Type (Electrodes & Filler Materials, Fluxes & Wires, and Gases), Welding Type (Arc Welding, Resistance Welding, Oxy-Fuel Welding, and Others), by End Use (Transportation, Buildings & Construction, Heavy Industries, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026765 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 14.6 billion mark in 2022 and is expected to hit US$ 22.1 million by 2030, recording a CAGR of 5.3% during the forecast period.

The welding materials market is significantly increasing owing to rising demand from various end-use industries.   

The rising use of welding materials in the building and construction industry, growing demand for advanced welding materials from the automotive industry, and increased demand from emerging economies from different end-use industries are some of the major factors driving the market growth. The fluxes & wires segment is anticipated to grow at the fastest growth rate during the forecast period. The growth is attributed to the ability of flux materials to remove the impurities from the base metal, which offers good blending between the base metal and filler material. Further, electrodes & filler materials, and gas segments are also expected to gain traction during the forecasted year.

Within the report, the market is segmented into type, welding type, end-use, and geography. By type, the market is further segmented into electrodes & filler materials, fluxes & wires, and gases. Based on welding type, the market is segmented into arc welding, resistance welding, oxy-fuel welding, and others. By end use, the market is categorized into transportation, buildings & construction, heavy industries, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Development of new and advanced welding technology has propelled the market growth.

Welding is a fabrication process in which two or more parts are fused utilizing heat pressure. Various welding materials such as electrodes & filler materials, fluxes & wires, and gases are used during the welding process. Rising adoption of newer welding techniques such as laser welding and stir welding in automotive and heavy industries has surged the demand for welding materials. In addition, rising adoption of welding robots for precision and efficiency in welding surges the demand for welding materials. Such developments in welding technology have contributed to the market's growth during the forecast period.

Rising adoption in various end use industries is one of the major factors accelerating the market growth.

Welding materials are used in various end-use industries such as automotive, building and construction, heavy industries, and others. Demand for welding in the building and construction industry has surged owing to rising infrastructure projects in developing economies like India, China, and Brazil, rising demand for welded steel in the building and construction industry, and increasing innovation activities in developed economies. In addition, the increased adoption of robotic welding and rising innovations and technological advancement in the automotive industry to cater to the growing consumer demand have further attributed to the demand for welding materials.

Recent strategic developments in the welding materials market

The welding materials market has undergone several significant developments, and a few of these have been mentioned below:

  • In April 2021, ESAB announced introduced the product Shield-Bright NiCrMo-3, a 625-type electrode for manual and automatic flux-cored wide-weave welding.

The welding materials market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. L'AIR LIQUIDE S.A., Air Products and Chemicals, Inc., Illinois Tool Works Inc, Linde plc, and The Lincoln Electric Company are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Welding materials related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of welding materials industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Electrodes & Filler Materials
    • Fluxes & Wires
    • Gases
  • Welding Type:
    • Arc Welding
    • Resistance Welding
    • Oxy-Fuel Welding
    • Others
  • End Use:
    • Transportation
    • Buildings & Construction
    • Heavy Industries
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • L'AIR LIQUIDE S.A.
    • Air Products and Chemicals, Inc.
    • Illinois Tool Works Inc
    • Linde plc
    • The Lincoln Electric Company

The List of Companies
- L\'AIR LIQUIDE S.A.
- Air Products and Chemicals, Inc.
- Illinois Tool Works Inc
- Linde plc
- The Lincoln Electric Company

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