Welding Consumables Market By Type (Stick Electrode, Flux-Cored Wires, Solid Wires, SAW Wires, and Fluxes), End-User Industry (Building and Construction, Manufacturing, Marine, Automobile, Oil and Gas), & Region for 2024-2031
Report ID: 40449|No. of Pages: 202
Welding Consumables Market By Type (Stick Electrode, Flux-Cored Wires, Solid Wires, SAW Wires, and Fluxes), End-User Industry (Building and Construction, Manufacturing, Marine, Automobile, Oil and Gas), & Region for 2024-2031
Welding Consumables Market Valuation – 2024-2031
The welding consumables is growing across various key end-use industries including building and construction, manufacturing, marine, automobile, oil and gas, and many others, therefore driving the market size surpass USD 12.73 Billion valued in 2024 to reach a valuation of around USD 16.62 Billion by 2031.
Continuous improvements in welding technologies and processes are driving the need for specialized welding consumables, enabling the market to grow at a CAGR of 3.39% from 2024 to 2031.
Welding Consumables Market: Definition/ Overview
Welding consumables are materials utilized in the welding process to join or fuse two or more pieces of metal or thermoplastics together. These consumables include filler metals, which melt during welding to create a strong bond, and fluxes, which serve to protect the molten weld from oxidation and impurities in the atmosphere. The effective use of these materials is crucial for ensuring the integrity and durability of the weld joint, making them essential in various industries such as construction, automotive, marine, and energy.
Furthermore, welding consumables are categorized into different types based on their application and welding technique, including stick electrodes, flux-cored wires, solid wires, and submerged arc welding (SAW) wires. The selection of appropriate consumables directly impacts the quality of the weld, influencing factors like strength, appearance, and resistance to environmental conditions.
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What Role Does Rapid Industrialization Play in the Growth of the Welding Consumables Market?
Rapid industrialization plays a pivotal role in the growth of the welding consumables market by significantly increasing the demand for infrastructure development and manufacturing activities. As countries industrialize, there is a heightened need for robust construction projects, including buildings, bridges, and transportation networks, which rely heavily on welding for structural integrity. For instance, in India, the National Manufacturing Policy
aims to increase the manufacturing sector’s contribution to the economy from 16% to 25% by 2024, highlighting the government’s focus on industrial growth.
Additionally, the Ministry of Road Transport and Highways reported that India plans to invest approximately USD 1.4 Trillion in infrastructure projects over the next five years, further driving the demand for welding consumables. This surge in industrial activity not only boosts the consumption of steel and other materials directly linked to welding but also stimulates advancements in welding technologies and processes, enhancing overall productivity and efficiency in various sectors.
What Impact do High Raw Material Costs and Price Volatility have on the Welding Consumables Market?
High raw material costs and price volatility significantly impact the welding consumables market by affecting production expenses and pricing strategies. Fluctuations in the prices of essential materials such as metals, alloys, and fluxes can lead to unpredictable manufacturing costs, which in turn challenge manufacturers to maintain stable pricing for their products. For instance, the U.S. Department of Labor reported that metal prices have seen considerable volatility due to geopolitical tensions and supply chain disruptions, which can increase production costs by up to 20% in some cases. This unpredictability can squeeze profit margins, forcing manufacturers to either absorb costs or pass them on to customers, potentially limiting market growth.
Furthermore, the need for effective supply chain management becomes critical as companies strive to mitigate these impacts, often requiring investments in alternative materials or sourcing strategies to ensure competitiveness in a fluctuating market environment.
Category-Wise Acumens
What Role do Continuous Innovations in the Composition of Flux-Cored Wires Play in their Market Dominance?
Continuous innovations in the composition of flux-cored wires play a crucial role in their dominance within the welding consumables market by enhancing performance, versatility, and efficiency. These advancements often involve the development of new alloy formulations and flux materials that improve weld quality and reduce defects, making flux-cored wires particularly suitable for heavy-duty applications in industries like shipbuilding and oil and gas. According to the U.S. Department of Energy, the demand for high-performance welding solutions is on the rise, driven by increased infrastructure investments and a focus on more efficient manufacturing processes.
Additionally, innovations such as self-shielded flux-cored wires eliminate the need for external shielding gas, allowing for effective welding even in challenging outdoor conditions. This adaptability not only meets the needs of diverse applications but also aligns with industry trends toward automation and improved productivity, further solidifying the position of flux-cored wires as a preferred choice among welding professionals.
In What Ways Does Urbanization Contribute to the Growth of the Welding Consumables Market Within the Building and Construction Sector?
Urbanization significantly contributes to the growth of the welding consumables market within the building and construction sector by driving an increase in infrastructure development and housing projects. As urban areas expand, there is a heightened demand for residential, commercial, and public infrastructure, necessitating robust welding solutions for structural integrity. For example, the U.S. Census Bureau reported that construction spending in the United States reached approximately USD 1.6 Trillion in 2022, reflecting a strong commitment to urban development. This surge in construction activities requires various welding consumables, such as electrodes and wires, to join materials like steel and aluminum effectively.
Additionally, urbanization often leads to increased investments in transportation networks, including roads and bridges, which further amplifies the demand for high-quality welding products. As cities continue to grow and evolve, the need for durable and reliable welding consumables becomes increasingly critical to meet the structural demands of modern infrastructure.
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Country/Region-wise Acumens
What Factors Contribute to Asia-Pacific’s Position as the Largest Revenue-Generating Region in the Welding Consumables Market?
Asia-Pacific’s position as the largest revenue-generating region in the welding consumables market is primarily driven by rapid industrialization, urbanization, and extensive infrastructure development. Countries like China and India are experiencing significant growth in construction activities, with the U.S. Census Bureau reporting that infrastructure spending in these regions is projected to reach over USD 1 Trillion by 2025. This surge in construction demands a wide range of welding consumables for joining metal frameworks in buildings, bridges, and other structures.
Additionally, the region’s robust manufacturing sectors, particularly in automotive and electronics, further amplify the need for high-quality welding materials. According to the Asian Development Bank, investments in infrastructure across Asia are expected to exceed
USD 26 Trillion by 2030, highlighting the critical role of welding consumables in supporting these developments. Furthermore, the shift towards advanced technologies and automation in manufacturing processes enhances the demand for specialized welding solutions, solidifying Asia-Pacific’s dominance in this market.
What Role Do Technological Advancements Play in North America’s Leadership in the Welding Consumables Market?
Technological advancements play a vital role in North America’s leadership in the welding consumables market by enhancing the efficiency, precision, and safety of welding processes. Continuous innovation in welding technologies, such as the development of advanced materials and automated systems, has allowed manufacturers to produce high-quality consumables that meet the stringent demands of industries like aerospace and automotive.
According to the U.S. Department of Labor, the manufacturing sector is expected to see a significant increase in productivity, driven by automation and robotics adoption, which is crucial for maintaining competitive advantages.
Furthermore, the integration of smart technologies, including Internet of Things (IoT) capabilities in welding consumables, facilitates real-time monitoring and quality control, ensuring compliance with rigorous industry standards. This technological shift not only improves operational efficiencies but also aligns with the growing emphasis on worker safety and environmental sustainability. As a result, North America continues to attract investments in research and development, further solidifying its position as a leader in the welding consumables market.
Competitive Landscape
The welding consumables market is a fragmented landscape with a mix of prominent players and regional competitors. Established companies like Kobe Steel, Lincoln Electric, and ESAB hold a significant market share. However, regional players are emerging in growing markets like Asia-Pacific, offering cost-effective options. The future might see consolidation as larger companies acquire niche players or expand their product portfolios to cater to diverse welding needs.
Some of the prominent players operating in the welding consumables market include:
- voestalpine AG
- The Lincoln Electric Company
- Kemppi Oy
- Colfax Corporation
- Air Liquide
- Obara Corporation
- Illinois Tool Works,
- Fronius International GmbH
- Hyundai Welding , Ltd.
- Panasonic Corporation
Latest Developments
- In February 2023, Lincoln Electric launched its Hyperfill™ technology, which enhances the deposition rate in flux-cored arc welding (FCAW). This innovative solution allows for increased productivity and efficiency, making it particularly beneficial for heavy fabrication and construction applications.
- In January 2023, Kemppi Oy launched its new X8 MIG Welder, which integrates advanced digital technology for enhanced welding performance. This welder is designed to optimize the use of welding consumables, improving efficiency and reducing waste in industrial applications.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| Growth Rate | CAGR of ~ 3.39% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| HISTORICAL PERIOD | 2021-2023 |
| FORECAST PERIOD | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | Voestalpine AG, The Lincoln Electric Company, Kemppi Oy, Colfax Corporation, Air Liquide, Obara Corporation, Illinois Tool Works, Inc., Fronius International GmbH, Hyundai Welding Co., Ltd., Panasonic Corporation |
| Customization | Report customization along with purchase available upon request |
Welding Consumables Market, By Category
Type:
- Stick Electrode
- Flux-Cored Wires
- Solid Wires
- SAW Wires and Fluxes
End-User Industry:
- Building and Construction
- Manufacturing
- Marine
- Automobile
- Oil and Gas
Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL WELDING CONSUMABLES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL WELDING CONSUMABLES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL WELDING CONSUMABLES MARKET, BY TYPE
5.1 Overview
5.2 Stick Electrode
5.3 Flux-Cored Wires
5.4 Solid Wires
5.5 SAW Wires and Fluxes
5.6 Others
6 GLOBAL WELDING CONSUMABLES MARKET, END-USE INDUSTRY
6.1 Overview
6.2 Building and Construction
6.3 Manufacturing
6.4 Marine
6.5 Automobile
6.6 Oil and Gas
6.7 Others
7 GLOBAL WELDING CONSUMABLES MARKET, BY GEOGRAPHY
7.1 Overview
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 U.K.
7.3.3 France
7.3.4 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 Japan
7.4.3 India
7.4.4 Rest of Asia Pacific
7.5 Rest of the World
7.5.1 Latin America
7.5.2 Middle East and Africa
8 GLOBAL WELDING CONSUMABLES MARKET COMPETITIVE LANDSCAPE
8.1 Overview
8.2 Company Market Ranking
8.3 Key Development Strategies
9 COMPANY PROFILES
9.1 voestalpine AG
9.1.1 Overview
9.1.2 Financial Performance
9.1.3 Product Outlook
9.1.4 Key Developments
9.2 The Lincoln Electric Company
9.2.1 Overview
9.2.2 Financial Performance
9.2.3 Product Outlook
9.2.4 Key Developments
9.3 Kemppi Oy
9.3.1 Overview
9.3.2 Financial Performance
9.3.3 Product Outlook
9.3.4 Key Developments
9.4 Colfax Corporation
9.4.1 Overview
9.4.2 Financial Performance
9.4.3 Product Outlook
9.4.4 Key Developments
9.5 Air Liquide
9.5.1 Overview
9.5.2 Financial Performance
9.5.3 Product Outlook
9.5.4 Key Developments
9.6 Obara Corporation
9.6.1 Overview
9.6.2 Financial Performance
9.6.3 Product Outlook
9.6.4 Key Developments
9.7 Illinois Tool Works Inc
9.7.1 Overview
9.7.2 Financial Performance
9.7.3 Product Outlook
9.7.4 Key Developments
9.8 Fronius International GmbH
9.8.1 Overview
9.8.2 Financial Performance
9.8.3 Product Outlook
9.8.4 Key Developments
9.9 Hyundai Welding Co., Ltd
9.9.1 Overview
9.9.2 Financial Performance
9.9.3 Product Outlook
9.9.4 Key Developments
9.10 Panasonic Corporation
9.10.1 Overview
9.10.2 Financial Performance
9.10.3 Product Outlook
9.10.4 Key Developments
10 KEY DEVELOPMENTS
10.1 Product Launches/Developments
10.2 Mergers and Acquisitions
10.3 Business Expansions
10.4 Partnerships and Collaborations
11 Appendix
11.1 Related Research
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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| Supplier side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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