Welding Materials Market, Trends, Share, Size and Manufacturers Forecast 2027 | Mitsubishi Chemical Advanced Materials, Evonik Industries
Market Overview:
Welding is one of
the important fabrications and sculpturing processes which is carried out to
join metals and thermoplastic materials. Electrodes, fillers, wires, fluxes,
gases and others are some common types of welding materials. As per the report
published by Market Research Future (MRFR), the global welding materials market
is anticipated to expand at the notable rate during the forecast period of
2018-2023.
Market Drivers and
Restraints:
The process of
welding offers strength and durability to the metal or thermoplastic structure.
Hence, it is extensively used in the construction and automotive industry. The
rapid increase in construction activities in order to carry out infrastructural
developments in various region of the world is projecting to propel the growth
of the global welding materials market. Increasing demand for automotive is
inducing high need for welding materials in the automotive industry, which in
turn is fueling the expansion of the global welding materials market.
Increasing demand
for lightweight, durable and stiff structures in the marine and aerospace
industry is positively influencing the growth of the global welding materials
market. However, high risk of on-site accidents and need for skilled labors are
likely to hamper the growth of the global welding materials market during the
forecast period.
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Market Segmentation:
The global welding
materials market has been segmented on the basis of type, technology and
end-use industry. Based on type, the welding material market is segmented into
electrode and filler material, fluxes and wires, gases, and others. The
electrode and filler material segment is anticipated to capture a major share
in the global welding materials market.
Based on technology,
the welding materials market is segmented into arc welding, resistance welding,
oxy-fuel welding and others. Among these, the arc welding segment is
anticipated to account for the largest share in the global welding material
market by the end of the forecast period.
Based on end-use
industry, the welding materials market is segmented into automotive and
transport, building and construction, marine, oil and gas, power and others.
Regional Analysis:
The global welding materials market is
geographically segmented into five major regions such as North America, Europe,
Asia Pacific, Latin America and the Middle East and Africa. The welding
materials market in the Asia Pacific region accounts for the major share in the
global welding materials market owing to the high demand for welding materials
in various end-use industries such as automotive, construction and marine
industry. Rapid infrastructural development and government initiative to
improve the transportation system are fueling the growth of welding materials
market in this region.
The increasing construction activities and rising
demand for welding materials in the marine industry are leading to the
significant growth of welding materials market in the North America region.
Rapid expansion of aerospace and automotive industries is impacting positively
on the growth of the welding materials market in the Europe region. Rapid
industrialization is likely to propel the growth of the welding materials
market in the Latin America and the Middle East and Africa regions during the
forecast period.
Industry Updates:
In January 2018, Fronius And Voestalpine Böhler
Welding has inaugurated its new Application Technology Center in Dubai.
Key Players:
The prominent players profiled by MRFR in the report
on the global welding materials market are Ador Welding Ltd. (India), Air
Liquide (France), Air Products and Chemicals, Inc. (the U.S.), Colfax
Corporation (the U.S.), Illinois Tool Works Inc. (the U.S.), The Linde Group
(Germany), Praxair Technology, Inc. (the U.S.), The Lincoln Electric Company
(the U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Gedik
Welding (India).
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