Press release
Welding Gas Market Opportunities, Future Trends, Growth Factors and Industry Expansion Strategies 2024 By Top Leaders | Orion Engineered Carbons, Epoxy Oilserv Nigeria Limited, Messer Group, Air Liquide, Praxair, Inc, Gulf Cryo, Air Products
welding gas market
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On end-user basis, the market is categorized as building & construction, automobile & transportation, metal fabrication & manufacturing, oil & gas, and others including heavy equipment, mining, etc. Building & construction activities will account for a substantial market share during the forecast period owing to rising construction activities in developing countries of Asia Pacific and Latin America. The product market will also be augmented by robust manufacturing industry development in countries such as India, China, Japan, Korea, etc.
Asia pacific will emerge as a fast-growing region pertaining to increasing industrial development along with rising automotive and construction industries. Rapid urbanization coupled with increasing disposable income will increase demand for automobiles which will further augment the product industry.
Welding Gas Market Size will witness a steady growth from 2017 to 2024 pertaining to high demand for metal fabricated products in various end-use sectors such as automobile & transportation, building & construction, oil & gas, metal fabrication & manufacturing, and others.
Welding gas are inert or semi inert in nature and provide protection to welded area from oxygen and water vapor. The product is primarily used in various processes including metal arc welding (MIG), tungsten arc welding (TIG), flux cored, laser and other applications such as oxy-fuel tech, manual metal arc welding, etc. The nature of gas determines the mechanical properties of the weld, depth of weld penetrating the metal welded and the characteristics of the welding arc. The product is used in pure form such as oxygen, carbon dioxide, argon, helium, hydrogen, nitrogen, etc. They are also used in binary form, the mixture of two, such as argon-carbon dioxide, argon-oxygen, argon-helium, laser gases and in ternary form, mixture of three such as argon-helium-carbon dioxide, etc.
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Building and construction industry is deemed to be a profitable quotient for welding gas market. Growing population in developing economies has led to an increase in demand for residential buildings. Rising construction activities in residential as well in commercial sector pertaining to rapid urbanization and growth of urban population is likely to drive the product market during the forecast time period. Favorable government initiatives, for instance, Indian government’s proposed programs such as Pradhan Mantri Gramin Awaas Yojana, Jawaharlal Nehru National Urban Renewal Mission (JnNURM), etc. for urban as well as rural infrastructure development will propel the demand of metal fabricated products which will further augment the growth of the product market.
The use of product in metal fabrication & manufacturing sectors will spur the demand of welding gases in upcoming years. The product protects heated and molten metal from damaging effects of air by creating an inert shield during welding. The demand of metal products in various industries such as automobile & transportation, building & construction, oil & gas, etc. will contribute to the development of product market in coming years. In 2016, automobile & transportation sector projected revenue over USD 2.5 billion and is likely to increase at a healthy rate by the end of 2024, which will spur product demand in coming years.
The primary hindrance in the growth path of welding gas market is the explosive mixture of product, especially mixture of air or oxygen with flammable gases, which is restricted, except at the burner or torch, by OSHA in regulation 1910.253(a)(1). This makes the handling of the product a complex process and will increase handling costs for end-users. The use of product is not recommended for high carbon steel which will also hinder the welding gas market.
Based on the product type, the industry is diversified as pure, binary, ternary, and others. Pure type includes argon, carbon dioxide, nitrogen, helium, hydrogen, oxygen, and others such as acetylene, propane, propylene etc. Binary type includes mixture of two such as argon- carbon dioxide, argon-oxygen, argon-hydrogen, laser gases, etc. Ternary type includes mixtures of three types such as argon-helium-carbon dioxide, argon-carbon dioxide-hydrogen, etc. The others product segment consists of quaternary mixtures. Argon is usually blended with other product types such as helium, hydrogen, carbon dioxide, etc. to facilitate metal transfer in welding process. Binary type will emerge as a fast-growing segment owing to smooth weld surface finish and good mechanical properties.
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