Welding Consumables Market by Type - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4368949
  • Report
  • Region: Global
  • 280 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Colfax Corporation
  • Hyundai Welding Co. Ltd.
  • Illinois Tool Works Inc.
  • Kemppi Oy.
  • Obara Corporation
  • Panasonic Corporation
  • MORE
The global welding consumables market was valued at $12,405 million in 2016, and is expected to reach at $18,286 million in 2023, growing at a CAGR of 5.7% from 2017 to 2023. Welding is a fabrication process performed to join materials, such as alloys and metals, efficiently by means of coalescence. It is an effective and economical process for creating strong joints among two or more parts of metal. The flux & filler metals used in welding industry are known as welding consumables. These consumables melt during the course of welding to produce a firm joint. Flux is commonly utilized to create a shield of gas around weld pool to prevent oxidation of hot metals. It acts as a deoxidizer, which prevents formation of pores in weld pool. These consumables are applicable in numerous end-user industries, such as automotive & transportation, construction, energy, and others. Growth of welding industry is highly dependent upon global steel consumption across various end-user industries.

The global welding consumables market is driven by rise in number of applications across numerous end-user industries, growth in automotive & construction industry, and increase in global energy infrastructure investment. In addition, surge in use of welding consumables for maintenance & repair of existing products supplements the market growth. Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to increase in construction activities, especially in the developing economies such as India and China. In addition, foreign direct investments (FDI) in wind and thermal industries play a significant role in growth and development of welding consumables market in this region. Slow adoption of innovative welding technologies in the developing countries, customer price sensitivity, and sluggish growth of shipbuilding and aerospace & defense sector limits the market growth. However, growth in need for welding automation technology, especially in the developed economies, is anticipated to provide lucrative opportunities for the market expansion.

The global welding consumables market is segmented on the basis of type, end-user industry, welding technique, and geography. Based on type, it is divided into stick electrodes, solid wires, flux cored wires, and SAW wires & fluxes. On the basis of end-user industry, it is classified into aerospace & defense, automotive & transportation, construction, energy, heavy machinery, shipbuilding, and process & others. On the basis of welding technique, the market is bifurcated into arc welding, resistance welding, oxy-fuel welding, laser-beam welding, and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

In April 2017, The Lincoln Electric Company signed an agreement to acquire Air Liquide Welding France SA to expand its existing specialty welding consumables portfolio and widen its geographical reach in Europe.

The major players operating in this market include the following

Colfax Corporation
Fronius International GmbH
Hyundai Welding Co., Ltd.
Illinois Tool Works Inc.
Kemppi Oy.
Obara Corporation
Panasonic Corporation
The Lincoln Electric Company
Tianjin Bridge Welding Materials Group Co., Ltd.
Voestalpine Böhler Welding GmbH

KEY BENEFITS FOR STAKEHOLDERS

This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global welding consumables market to identify the prevailing market opportunities.
Major countries in each region are mapped according to individual market revenue.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.

Key players and their key developments in the recent years are listed.

KEY MARKET SEGMENTS

By Type

Stick Electrodes
Solid Wires
Flux Cored Wires
SAW Wires & Fluxes

By End-user Industry

Aerospace & Defense
Automotive & Transportation
Construction
Energy
Heavy Machinery
Shipbuilding
Process & Others

By Welding Technique

Arc Welding
Resistance Welding
Oxy-fuel Welding
Laser-beam Welding
Others (Ultrasonic Welding and Thermochemical Welding)

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Argentina
Turkey
Rest of LAMEA

KEY PLAYERS

Ador Welding Ltd.
Arcon Welding Equipment, LLC.
AV Weldtech Pvt Ltd.
Anand Arc Ltd.
D & H Welding Electrodes (India) Ltd.
Denyo Co., Ltd.
EWAC Alloys Ltd.
GEE Limited
INOX Air Products Private Limited
Ketan Corporation
Praxair Incorporated
Precision Weldarc Limited
Shanghai Baoxuan Metal Products Co., Ltd.
The Linde Group
Welmet Technologies Private Limited
Yenitek Corporate Group
(Companies mentioned above are not profiled in the report, but can be profiled upon client request)
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Colfax Corporation
  • Hyundai Welding Co. Ltd.
  • Illinois Tool Works Inc.
  • Kemppi Oy.
  • Obara Corporation
  • Panasonic Corporation
  • MORE
CHAPTER 1. INTRODUCTION

1.1. Report description
1.2. Key benefits
1.3. Key market segment
1.4. Research methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tool & model

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market snapshot
2.2. CXO perspectives

CHAPTER 3. MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porters five forces analysis
3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Growth in automotive and construction sector
3.4.1.2. Increase in global energy infrastructure investment
3.4.1.3. Usage of welding consumables in maintenance and repair

3.4.2. Restraints

3.4.2.1. Impact of welding consumables on environment
3.4.2.2. Slow growth of shipbuilding and aerospace & defence industries
3.4.2.3. Customer price sensitivity

3.4.3. Opportunities

3.4.3.1. Growth prospects in emerging economies
3.4.3.2. Rising requirement for welding automation technology in developed economies

3.5. Market share analysis, 2016 (%)

CHAPTER 4. GLOBAL WELDING CONSUMABLES MARKET, BY TYPE

4.1. Introduction

4.1.1. Market size and forecast

4.2. Stick electrodes

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast

4.3. Solid wires

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast

4.4. Flux cored wires

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast

4.5. SAW wires & fluxes

4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast

CHAPTER 5. GLOBAL WELDING CONSUMABLES MARKET, BY END-USER INDUSTRY

5.1. Introduction

5.1.1. Market size and forecast

5.2. Aerospace & defence

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast

5.3. Automotive & transportation

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast

5.4. Construction

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

5.5. Energy

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast

5.6. Heavy machinery

5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast

5.7. Shipbuilding

5.7.1. Key market trends, growth factors, and opportunities
5.7.2. Market size and forecast

5.8. Process & others

5.8.1. Key market trends, growth factors, and opportunities
5.8.2. Market size and forecast

CHAPTER 6. GLOBAL WELDING CONSUMABLES MARKET, BY WELDING TECHNIQUE

6.1. Introduction

6.1.1. Market size and forecast

6.2. ARC welding

6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast

6.3. Resistance welding

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast

6.4. Oxy-fuel welding

6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast

6.5. Laser-beam welding

6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast

6.6. Others

6.6.1. Key market trends, growth factors, and opportunities
6.6.2. Market size and forecast

CHAPTER 7. GLOBAL WELDING CONSUMABLES MARKET, BY GEOGRAPHY

7.1. Introduction

7.1.1. Market size and forecast

7.2. North America

7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
7.2.3. U.S.

7.2.3.1. Market size and forecast, By Type

7.2.4. Canada

7.2.4.1. Market size and forecast, By Type

7.2.5. Mexico

7.2.5.1. Market size and forecast, By Type

7.3. Europe

7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
7.3.3. UK

7.3.3.1. Market size and forecast, By Type

7.3.4. Germany

7.3.4.1. Market size and forecast, By Type

7.3.5. France

7.3.5.1. Market size and forecast, By Type

7.3.6. Spain

7.3.6.1. Market size and forecast, By Type

7.3.7. Italy

7.3.7.1. Market size and forecast, By Type

7.3.8. Rest of Europe

7.3.8.1. Market size and forecast, By Type

7.4. Asia-Pacific

7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
7.4.3. China

7.4.3.1. Market size and forecast, By Type

7.4.4. Japan

7.4.4.1. Market size and forecast, By Type

7.4.5. India

7.4.5.1. Market size and forecast, By Type

7.4.6. Australia

7.4.6.1. Market size and forecast, By Type

7.4.7. South Korea

7.4.7.1. Market size and forecast, By Type

7.4.8. Rest of Asia-Pacific

7.4.8.1. Market size and forecast, By Type

7.5. LAMEA

7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
7.5.3. Brazil

7.5.3.1. Market size and forecast, By Type

7.5.4. South Africa

7.5.4.1. Market size and forecast, By Type

7.5.5. Saudi Arabia

7.5.5.1. Market size and forecast, By Type

7.5.6. Turkey

7.5.6.1. Market size and forecast, By Type

7.5.7. Rest of LAMEA

7.5.7.1. Market size and forecast, By Type

CHAPTER 8. COMPANY PROFILES

8.1. Colfax corporation

8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments

8.2. FRONIUS INTERNATIONAL GMBH

8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.2.5. Key strategic moves and developments

8.3. HYUNDAI WELDING CO., LTD.

8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.3.4. Business performance
8.3.5. Key strategic moves and developments

8.4. ILLINOIS TOOL WORKS INC.

8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Business performance
8.4.5. Key strategic moves and developments

8.5. KEMPPI OY.

8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments

8.6. OBARA CORPORATION

8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments

8.7. PANASONIC CORPORATION

8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments

8.8. THE LINCOLN ELECTRIC COMPANY

8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments

8.9. TIANJIN BRIDGE WELDING MATERIALS GROUP CO., LTD.

8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance
8.9.5. Key strategic moves and developments

8.10. VOESTALPINE BHLER WELDING GMBH

8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
8.10.5. Key strategic moves and developments
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Colfax Corporation
  • Hyundai Welding Co. Ltd.
  • Illinois Tool Works Inc.
  • Kemppi Oy.
  • Obara Corporation
  • Panasonic Corporation
  • MORE
According to a new report titled, Welding Consumables Market by Type, End-user Industry, and Welding Technique: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global welding consumables market was valued at $12,405 million in 2016, and is projected to reach $18,286 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. The solid wires segment was dominant, accounting for around half of the market share in 2016.

Welding consumables are flux and filler materials that liquefy during welding to produce strong joints. The selection of welding consumables is dependent on the type of end use. Growth in construction and automotive industries, rise in the number of applications across various end-user industries, increase in usage of welding consumables for repair & maintenance purpose, and surge in global energy infrastructure investments drive the market growth. More than 90% of welding consumables and welding equipment products are sold through dedicated partners, system integrators, and distributors. System integrators are involved in sales of robotics, which have initialized welding units used in automated manufacturing. Regulatory authorities present in welding consumables market include European Union (EU), Occupational Safety and Health Administration (OSHA), American Welding Society (AWS), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), and American National Standards Institute (ANSI).

In 2016, the solid wires segment accounted for more than one-third of the market share, in terms of revenue, owing to their ability to weld numerous types of materials having varied thicknesses, and ease of use. In addition, these wires prevent oxidation, enhance the life of welding contact tip, and aid in electrical conductivity. The factors that are considered during selection of welding consumable for specific application are thickness of the material, wire feed settings, proper shielding gas, and voltage settings.

The energy segment is projected to grow at a significant CAGR during the forecast period due to growth in the number of investments in renewable power sources, stimulating the need for new projects. Asia-Pacific is anticipated to grow at the highest rate, owing to the large number of ongoing & proposed energy projects in China & India. The SAW fire & fluxes segment is anticipated to have largest demand in the wind sector, while increase in the number of thermal projects is expected to boost the growth of stick electrodes and solid wires. Delay in nuclear power projects, especially in North America and Europe, restrains the global market in the energy industry.

The arc welding segment accounted for the maximum share, in terms of both volume and revenue, in 2016 due to its low-cost welding solution, which requires minimal equipment, high heat concentration, enhanced corrosion resistance, and uniformity in metal deposition. Furthermore, the high heat concentration utilized increases penetration depth and speedup welding operation. Shielded metal arc welding (SMAW), gas metal arc welding (GMAW), flux cored arc welding (FCAW), and gas tungsten arc gas welding (GTAW) are the most popular procedures utilized in the welding industry.

Key Findings of the Welding Consumables Market:

Asia-Pacific is expected to lead the market during the forecast period, followed by Europe.
The flux cored wires segment is expected to show the highest growth rate by type in Europe, registering a CAGR of 6.9% from 2017 to 2023.
The energy segment is expected to show the highest growth, registering a CAGR of 6.5%.
South Africa accounted for 7.8% share, in terms of volume, in the LAMEA welding consumables market in 2016.
UK accounted for 9.95% share, in terms of revenue, in the European welding consumables market, in 2016.
India is expected to grow at the highest CAGR of 7.7% in the Asia-Pacific region.
Asia-Pacific and Europe collectively accounted for more than half of the share of the global market revenue in 2016. In the same year, Asia-Pacific dominated the market, owing to the growth in automotive sector and increase in construction activities. Moreover, initiatives taken by government authorities to support growth of manufacturing sector are expected to boost the demand for welding consumables in the region.

The significant market players profiled in the report include Colfax Corporation (U.S.), Fronius International GmbH (Austria), Hyundai Welding Co., Ltd. (Singapore), Illinois Tool Works Inc. (U.S.), Kemppi Oy. (Finland), Obara Corporation (Japan), Panasonic Corporation (Japan), The Lincoln Electric Company (U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Voestalpine Bhler Welding GmbH (Germany).
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  • Colfax Corporation
  • Fronius International GmbH
  • Hyundai Welding Co. Ltd.
  • Illinois Tool Works Inc.
  • Kemppi Oy.
  • Obara Corporation
  • Panasonic Corporation
  • The Lincoln Electric Company
  • Tianjin Bridge Welding Materials Group Co. Ltd.
  • Voestalpine Bhler Welding GmbH.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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