Welding Consumables Market to Reach US$ 21.3 Billion by 2028

According to the latest report by IMARC Group, titled "Welding Consumables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global welding consumables market size reached US$ 16.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.

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Welding Consumables Industry Overview:

Welding consumables are materials used during the welding process to join two pieces of metal. These materials are essential for ensuring a strong and reliable weld, as they help to fuse the metal and provide additional strength and stability. The most common types of welding consumables include electrodes, filler metals, flux, and shielding gases. Electrodes are employed in shielded metal arc welding and are typically made of a metal core coated with a flux material. Filler metals are used in gas tungsten and gas metal arc welding (GMAW) and come as wires or rods that are melted to join the metal pieces. Flux is utilized in submerged arc welding (SAW) and helps to protect the weld from contaminants and other impurities. Shielding gases are used in GMAW and GTAW and help to protect the weld from atmospheric gases that can weaken it. Welding consumables vary in composition, size, and shape and find extensive applications.

Welding Consumables Market Growth:

The global market is majorly driven by significant growth in the construction industry. In line with this, the increasing industrial manufacturing activities are positively influencing the market. Furthermore, the rising product use in the automotive industry for the production of vehicles, including body and engine parts, is catalyzing the market. Apart from this, the rapid advancements in welding technology are raising the demand for more specialized and high-performance welding consumables.

Moreover, governments and private companies are investing in infrastructure projects such as highways, railways, and airports, driving demand for welding consumables. Besides, the growing product utilization in the energy sector in producing oil and gas pipelines, power plants, and renewable energy infrastructure is favoring the market. Additionally, the escalating demand for lightweight materials is strengthening the market. Some other factors driving the market growth include rapid product adoption in the shipbuilding industry, increasing consumer goods production, aging infrastructure worldwide, rising mining activities, adoption of automated welding systems, and growing need for high-quality welds and safe welding practices.

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Key Market Segmentation:

Top Welding Consumables Manufacturers:

• Voestalpine AG
• Colfax Corporation
• The Lincoln Electric Company
• Air Liquide, Hyundai Welding Co., Ltd.
• Obara Corporation
• Panasonic Corporation
• Illinois Tool Works Inc.
• Denyo Co., Ltd.
• Fronius International GmbH
• Tianjin Bridge Welding Materials Co., Ltd.
• Kemppi Oy, Arcon Welding Equipment

Breakup by Product Type:

• Stick Electrodes
• Solid Wires
• Flux Cored Wires
• Saw Wires and Fluxes
• Others

Breakup by Welding Technique:

• Arc Welding
• Oxy-Fuel Welding
• Resistance Welding
• Laser-Beam Welding
• Others

Breakup by End-Use Industries:

• Construction
• Automobile
• Energy
• Shipbuilding
• Aerospace
• Industrial Equipment
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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