Identified and profiled in MRFR analysis; some of the key players of global welding materials market report include- Air Liquide (France), Ador Welding Ltd. (India), Air Products and Chemicals, Inc. (U.S.), Illinois Tool Works Inc. (U.S.), Colfax Corporation (U.S.), The Linde Group (Germany), The Lincoln Electric Company (U.S.), Praxair Technology, Inc. (U.S.), Gedik Welding (India), and Tianjin Bridge Welding Materials Group Co., Ltd. (China).
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Welding process refers to the joining of metals. It is a very cost-effective process, which finds its application in sectors such as transportation, construction, oil & gas, and power. The growth of the welding industry is highly dependent on the consumption of steel in various end-use industries.
The welding technologies comprise welding materials and welding services. These materials account for a significant share in the welding industry which is expected to grow rapidly both in terms of value and volume. Resultantly, the welding materials market is expected to garner huge accruals on the global platform.
Acknowledging the accruals, the market is garnering currently, Market Research Future (MRFR) in its recently published study report, asserts that the global welding materials market will grow exponentially by 2022, registering a phenomenal CAGR over the forecast period (2017-2023).
Factors supporting the market growth include the increasing demand for these materials from the automobile & aerospace manufacturing, alongside the transportation and building & construction sectors. Driven by the demand from the end-user industries, the market is highly application based.
Global Welding Materials Market Segments
The welding materials market is segmented into four key dynamics for the convenience of understanding;
By Types : Electrode & Fillers, Fluxes & Wires, and Gases among others.
By Technologies : Arc Welding, Resistance Welding, and Oxy-Fuel Welding among others.
By End-Use Industries : Automotive & Transportation, Building & Construction, Marine, and Oil & Gas among others.
By Regions :North America, Europe, APAC and the Rest-of-the-World.
The subsegment – Electrode, accounts for the largest share in the global welding materials market by types due to its huge demand across various applications. This trend is likely to continue by 2023.
Welding Materials Market Regional Analysis
The Asia Pacific region accounts for the leading market for welding materials, globally, followed by North America and Europe respectively. The largest share of the market in the APAC is attributed to the huge demand for welding materials in the countries such as China, Japan and India due to their burgeoning automotive and construction industries.
The largest consumers of these materials in the region are transportation & automobile industry and the construction industry. There is been a lot of investment in infrastructure due to fast urbanization and industrialization. All the steel-consuming industries by far require the welding technology which augments the demand in the APAC welding materials market, supporting the market to become the largest market.
The welding materials market in the North American region accounts for the second-largest. The U.S., backed by the increasing reconstruction activities and the rising demand for welding materials in the marine industry, accounts for the key contributor to the market growth in the region.
The European region is another significant market for welding materials which is growing substantially. Markets in countries such as the U.K., Germany Italy, France, and Spain growing pervasively with their aerospace and automotive industries are favoring the growth of the regional market, consuming a substantial amount of welding materials.
- Welding materials manufacturers
- Traders and distributors of welding materials
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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