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Global Welding Consumables Market to Reach US$ 19.2 Billion by 2024

According to the latest report by IMARC Group titled, “Welding Consumables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 13.9 Billion 2018. Looking forward, the global welding consumables market is expected to reach a value of US$ 19.2 Billion by 2024, exhibiting a CAGR of around 6 % during 2019-2024.

Welding consumables are flux and filler metals used during the welding process. The filler metals are used for creating a strong joint between two metallic surfaces; on the other hand, flux metals help in preventing the hot metals from being oxidized during this procedure. Welding consumables can be produced by using raw materials such as nickel, aluminum, copper and ilmenite. These materials are cost-effective, help in reducing the transfer of air contaminants from the molten metal and prevent the formation of pores in the weld pool. Welding consumables are used in various sectors like construction, shipbuilding, automobile manufacturing, aerospace, and energy.

At present, welding consumables are widely used in the automobile industry to produce high-quality and lightweight vehicle parts. Besides, developing countries like China, India, South Africa, and Brazil are experiencing growth in the construction industry which is providing support to the welding consumables market. Other than this, various factors, such as rising foreign direct investments, technological advancements, and rapid urbanization and industrialization, are also driving the global welding consumables market.

Market Segmentation:

Breakup by Product Type:

  • Stick Electrodes
  • Solid Wires
  • Flux Cored Wires
  • Saw Wires and Fluxes
  • Others

Breakup by Welding Technique:

  • Arc Welding
  • Oxy-Fuel Welding
  • Resistance Welding
  • Laser-Beam Welding
  • Others

Breakup by End-Use Industries:

  • Construction
  • Automobile
  • Energy
  • Shipbuilding
  • Aerospace
  • Industrial Equipment
  • Others

Regional Insights:

  • Asia Pacific
  • North America
  • Middle East and Africa
  • Europe
  • Latin America

Competitive Landscape

The report has also examined the competitive landscape of global welding consumables market. Some of the major players in the market are Voestalpine AG, Colfax Corporation, The Lincoln Electric Company, Air Liquide, Hyundai Welding Co., Ltd., Obara Corporation, Panasonic Corporation, Illinois Tool Works Inc., Denyo Co., Ltd., Fronius International GmbH, Tianjin Bridge Welding Materials Co., Ltd., Kemppi Oy, Arcon Welding Equipment, etc.

Key highlights of the report:

  • Market Performance
  • Market Outlook
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Competitive Structure
  • Profiles of Key Players