Global Welding Materials Market (2020 to 2025) - New and Advanced Applications Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Welding Materials Market by Type (Electrodes & Filler Materials, Fluxes & Wires, Gases), Technology (Arc, Resistance, Oxy-Fuel Welding), End-use Industry (Transportation, Building & Construction, Heavy Industries), & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The welding materials market is projected to grow from USD 13.6 billion in 2020 to USD 17.3 billion by 2025, at a CAGR of 4.8% during the forecast period.

The increasing spending on the building & construction market, development of manufacturing sectors, and growing repair & maintenance activities are likely to drive the welding materials market. APAC is the fastest-growing market for welding materials due to growing demand in Japan, China, and India. Increasing residential building constructions, as well as remodelling/reconstruction of existing infrastructures, are expected to drive the welding materials market in the region.

In terms of value, arc welding segment is projected to lead the global welding materials market through 2025.

The arc welding segment is projected to lead the welding materials market, in terms of value, during the forecast period. Arc welding has the advantage of high heat concentration during the welding process wherein an electric arc is produced in between the electrode & base materials that melt the metals. The major advantage of arc welding is the concentration of heat applied to a large surface that enables better welding by providing a depth of penetration, which ultimately reduces the welding time. Arc welding is the most preferred welding technology due to its low cost and can be applied to a wide range of metal surfaces.

The fluxes & wires segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period.

The fluxes & wires segment is projected to be the fastest-growing segment by end-use industry throughout the forecast period. Flux is a chemical agent, which is used to clean a surface or can be used as a purifying agent. The flux material is used to dissolve the oxides by releasing gases that are trapped on the surface. Fluxes also help remove the impurities from the base metal surface that can further provide a good blending between the base metal and the filler material surface.

In terms of value, the Asia Pacific welding materials market is projected to grow at the highest CAGR during the forecast period.

APAC is the largest producer and consumer of welding materials across the globe, with almost all major manufacturers and end-use companies present in the region. APAC has witnessed tremendous growth in the past few years, driven by the growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region. Cheap labor costs, coupled with favorable import-export policies, have made APAC an ideal market for automotive OEMs as well as electronics manufacturers, which, in turn, are expected to drive the regional welding materials demand.

The increasing number of new housing units and huge investments in the infrastructural sector are also fueling the demand for welding materials in this region. According to the World Bank, APAC is the fastest-growing region in terms of both population and economic growth. The region has experienced significant growth in the last decade and accounted for approximately 34% of the global GDP in 2019. According to the Population Reference Bureau, China, India, and other emerging APAC countries had a combined population exceeding 4 billion in 2019, which is projected to become an increasingly important driver for global consumption over the next two decades.

Market Dynamics

Drivers

• Increasing Demand from End-Use Industries
• Long-Term Growth in Emerging Markets and Global Energy Infrastructural Investments

Restraints

• Environmental Impacts of Welding Materials

Opportunities

• Growth Prospect in Developing Countries
• New and Advanced Applications

Challenges

• Shortage of Skilled Labor and High Labor Cost

Companies Mentioned

• Acro Automation Systems Inc. (Us)
• Ador Welding Limited
• Advanced Technologies and Materials Co. Ltd.
• Air Liquide S.A.
• Air Products & Chemicals Inc.
• Amada Weld Tech
• Banner Welding Inc
• Carl Cloos Schweisstechnik Gmbh
• Colfax Corporation
• Daihen Corporation
• Denyo Co. Ltd
• ESAB
• Fronius International Gmbh
• Hyundai Welding Co. Ltd.
• Illinois Tool Works Inc.
• Kobe Steel (Kobelco)
• Laiwu Jincai Welding Materials Co. Ltd
• Lincoln Electric Holdings
• Linde plc
• Panasonic Corporation
• Precision Castparts Corp.
• Sonics & Materials, Inc.
• Tianjin Bridge Welding Materials Group Co. Ltd.
• Voestalpine Bohler Welding Gmbh
• Zulfi Welding Electrodes Factory Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/lyn530