Industry Trending News:
April 28, 2017– Lincoln Electric and Air Liquide reached an acquisition agreement. According to the terms of agreement, the deal was finalized at USD 125 million. As per Lincoln this development the move will enhance its global specialty consumables portfolio and extend its channel reach for equipment systems and Harris Product Group solutions in Europe.
September 5, 2017- Sandvik led the Schweissen & Schneiden (welding & cutting) fair in Germany, with its innovative range of technologies in the field of welding materials and cutting tools. The company has exhibited new, more robust and cost-efficient materials as well as new techniques that save welding costs and improve quality. Their latest stainless steel and nickel alloy has been demonstrated to achieve greater consistency among heat and batches, which enables trouble free welding and high quality welding joints. This is poised to fetch substantial revenue for company due to anticipated higher demand for such innovative products in coming years.
December, 26 2017- The U.K. based Welding Alloys has recently launched a repairable welded ceramic composite alloy providing called MillCarb. This new material is an engineered wear protection solution for grinding components. The new product blends the wear resistant properties of advanced and complex ceramics with graded grain sizes and the shock absorbing properties of a metallic matrix, creating a ceramic metal matrix composite. According to the company these features are incorporated into a weldable solution which capable of multiplying the life of components by offering a repairable alternative.
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Welding Materials Market- Competitive Landscape
The Global Welding Materials is a significantly mature market, which is driven by the increasing demand from building & construction industry and rapidly growing infrastructural development activities across the globe. Additionally, the technological advancements in the field of welding materials undertaken by the tier 1 market players is likely have positive repercussions on the Global Welding Materials Market. The market accommodating considerable numbers of tier 1 companies, yet the market share is dominated by Air Products and Chemicals Inc., Sandvik AB, and Lincoln Electric Holdings, Inc. These leading manufacturers have substantial contribution towards the growth of this market during the forecast period. The primary business tactics undertaken by almost all of these market leaders are the capacity expansion by new facility, product launch and acquisitions of significant competitors. The market is anticipated to witness high competition on the backdrop of increasing global demand and continuous technological up-gradation of these players to gain significant share of the market and sustain the huge competition during 2017 to 2023.
Welding Materials Market–Market Overview
As per the analysis of MRFR, the global market for the Welding Materials is mainly driven by the surging demand from the rapidly growing applications such as industrial manufacturing, building & construction, and transportation. The Welding Materials are extensively used in almost all the processes and applications which consumes iron and steel across various industries. Among other types of welding materials, electrode holds the largest share in this market, as of 2016. This attributed to its huge demand from transportation sector and relative affordability as compared to other types. Furthermore, the transportation, besides other end uses of the welding materials, is leading the welding market owing to high demand for the product from the automobile industry. According to the estimation of MRFR, the Global Welding Materials Market is projected to surpass market of USD 16 Billion by the end of 2023, by expanding at a healthy CAGR of approximately 5% during the assessment period.
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