Market Overview:
Welding is a procedure of joining different thermoplastics and metals together by way of coalescence. It is a cost-effective and efficient procedure for producing strong joints between two or more parts. Filler metals and flux combined are referred to as welding consumables. Acceptance of modern technologies at sluggish rate, specifically in the emerging economies can hamper the growth & expansion of worldwide welding consumables market.
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The global welding consumables market is experiencing a constant technical modernization and innovation in welding methods in different welding uses and applications. Advancement and technological changes in the global welding consumables market is predicted to generate greater business avenues for the market in future. Growing need of welding consumables due to rising demand for welded steel in business applications and residential construction is predicted to favorably affect the worldwide welding consumables market in future.
Growing welding consumables need due to rising demand for welded steel in automobile and construction industry is predicted to stimulate the global welding consumables market during the estimated period.
Further, growing amount of vehicles on road combined with the growth and development events among the end use sectors is predicted to stimulate the demand for worldwide welding consumables market.
However, shortage of skilled labor in production sector accompanied by high labor charges are the factors predicted to hamper the growth and expansion of the worldwide welding consumables market during the estimated period.
The main trends that are favorably affecting the market growth are the upcoming techniques that are being developed and particularly those techniques that are devised to weld thick metal components.
The worldwide welding consumables market is predicted to record a healthy growth during the estimated period, specifically in emerging economies like India and China.
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Welding Consumables Market by End User Applications:
The global welding consumables market by end user applications into divided into various applications like wear plate, automobile & transportation, marine, oil & gas, building & construction and power sector.
The worldwide welding consumables market is predicted to experience high growth & expansion during the estimated period due to the favorable overview in different end use sectors like construction sector, automobile & transportation sector and marine sector.
The technique of welding is related with almost each step of automobile production. Welding is utilized in production of various automobile components like transmission parts, fuel injectors and engines.
The construction section all across the globe is predicted to be one of the key aspects stimulating the development and expansion of the worldwide welding consumables market. The growth in construction events globally are anticipated to result in heavy demands for welding consumables in the construction sector. This in turn will fuel the growth and expansion of the worldwide welding consumables market during the estimated span.
The power section is predicted to be the rapidly growing section during the estimated period.
Other end user applications like marine applications and wear plates are anticipated to grow fairly in coming years.
The welding consumables industry is highly reliant on the steel use worldwide in different end use sectors.
Welding Consumables Market by Products:
The worldwide welding consumables market by products is divided into flux cored wires, fluxes, stick electrodes, SAW wires and solid wires.
During year 2014, stick electrode section experienced domination in the worldwide welding consumables market. It contributed a major portion of the key market share during that year. It was followed by the solid wires section. People prefer stick electrodes and solid wires owing to their low prices and widespread use in end user applications. These stick electrode is mainly used in manual welding and is highly cost effective.
Today many of the industry players are enhancing the portfolio of their products by adding various welding consumable items like fluxes and wires to their portfolio of products to satisfy the demand of different end use sectors. Further, the demand for fluxes and wires are predicted to increase substantially during the estimated period owing to their effective performances. Factors like less wastage, high output, suitability for automated welding systems & outdoor work and extensive use among various welding techniques are expected to result in growing choice for flux cored wires and solid wires. In addition to this, flux cored wires have the benefits like high rate of deposition, strong & clean welds and outdoor work suitability.
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Flux cored wires section is predicted to be the rapidly growing product section in terms of revenue during the forecasted period.
Electrodes are the main consumables utilized in different welding procedures.
The SAW wires section and fluxes section are expected to experience fair expansion.
Welding Consumables Market by Technology:
The global welding consumables market by technology is divided into ultrasonic welding, arc welding, laser beam welding, resistance welding and oxyfuel welding.
The main trends that are favorably affecting the growth & expansion of the global welding consumables market are the upcoming techniques that are being generated and particularly those techniques that are devised to weld thick components of metals.
Further, the industry participants in the worldwide welding consumables market are bending towards automation at various phases in the welding procedure. It is expected that the creation of automation software and robots would be viable trends that could favorably affect the growth & expansion of the worldwide welding consumables market during the estimated span.
Welding Consumables Market by Region:
The worldwide welding consumables market by region is divided into five geographical regions, namely, subcontinent of North America, continent of Europe, Asia Pacific zone, region of Latin America and region of Middle East & Africa.
Today, the subcontinent of North America and continent of Europe are completely developed markets for welding consumables providers. But, the Middle East & Africa and Asia Pacific zone are predicted to become profitable markets for key market players functioning in the worldwide welding consumables market.
The welding consumables market of Asia Pacific zone is predicted to grow rapidly during the estimated period due to the presence of numerous end use industries in this zone. With growth of production plants in emerging economies of Asia Pacific zone like India, China and Japan, the market in this zone is predicted to display steady development in coming years. Further, growing demand from rising end use sectors like automobiles, infrastructure and transportation specifically in evolving economies of Asia Pacific zone is predicted to remain a main driving force for the growth of the welding consumables market in this zone.
The region of Middle East & Africa is predicted to experience a substantial growth due to increasing demand for automobile industry and accessibility of raw materials in automobile & transportation sector in this region.
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