Market Overview:
The welding consumables market refers to the welding wires, rods, electrodes, and fluxes used in arc welding processes such as gas tungsten arc welding (GTAW), shielded metal arc welding (SMAW), gas metal arc welding (GMAW) and flux-cored arc welding (FCAW). Welding consumables play a vital role in joining metals through bonding them using welding techniques. They provide shielding gases and an arc to join the materials during the welding process. Welding consumables are available in different types and compositions depending on the base materials such as steel, aluminum and other alloys. The increasing demand for automation in welding processes has contributed to the growth of the welding consumables market.
Market key trends:
One of the key trends fueling the growth of Welding Consumables Market Share is the increasing automation in welding processes. Advancements in robotic welding technologies have automated welding processes to a large extent. Automated welding helps improve productivity, consistency and quality of welds. It also eliminates human errors and improves occupational safety. With automation, complex welds can be performed easily and precisely. Moreover, automated welding allows for continuous, fast and repetitive welding operations. growing industries such as automotive, shipbuilding and construction are increasingly adopting automated welding systems which is driving the demand for welding consumables. The automation of welding processes is expected to continue growing over the forecast period, thereby augmenting the market growth of welding consumables.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the welding consumables market is moderate. Establishing manufacturing facilities for welding consumables require high capital investments.
Bargaining power of buyers: The bargaining power of buyers in the welding consumables market is high. Buyers can negotiate on price as there are numerous established manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of raw materials such as filler wire have some control over pricing, but switching to alternate suppliers involves low costs.
Threat of new substitutes: The threat of substitutes is low. There are limited substitutes available for welding consumables.
Competitive rivalry: The competitive rivalry in the welding consumables market is high due to the presence of numerous international and regional players.
Key Takeaways
The global Welding Consumables market Size And Trends is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand from automotive and transportation sectors. Growing automotive production is driving the consumption of welding materials.
The Asia Pacific region dominates the welding consumables market, and is expected to grow at the fastest rate during the forecast period. Abundant availability of low-cost raw materials and labor in Asia Pacific countries such as China and India is attracting manufacturing facilities. Growing manufacturing industries in the region is propelling the welding consumables demand.
Key players operating in the welding consumables market include Voestalpine AG, Arcon Welding Equipment, Colfax Corporation, Kemppi Oy, The Lincoln Electric Company, Tianjin Bridge Welding Materials Co., Ltd., Air Liquide, Fronius International GmbH, Hyundai Welding Co., Ltd., Denyo Co., Ltd., Obara Corporation, Illinois Tool Works Inc., Panasonic Corporation, and others. Voestalpine AG offers an extensive range of welding consumables and is one of the largest manufacturers of welding wire and rods globally.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it