Welding Material Market to Reach USD 17.3 Billion by 2031 | CAGR 4.6% | Asia-Pacific Leads with 45% Share | Key Players: ESAB, Colfax Corporation, Air Liquide, Air Products & Chemicals, Illinois Tool Works, Linde PLC

Welding Material Market Size

The global welding material market reached US$ 13.5 billion in 2022 and is projected to grow to US$ 17.3 billion by 2031, registering a CAGR of 4.6% during the forecast period of 2024-2030. Welding materials are critical for industrial fabrication and manufacturing operations, serving as essential components in industries such as shipbuilding, metalworking, aerospace, and heavy equipment manufacturing. Market growth is supported by the rising demand from the aerospace sector and the development of advanced filler metals designed to improve weld purity, strength, and efficiency. The construction and building sector is expected to account for more than 25% of the market during the forecast period, with welding wires commonly made of carbon steel, stainless steel, or aluminum used extensively in methods such as gas metal arc welding (GMAW) and metal inert gas (MIG) welding. These wires come in various sizes and compositions to optimize the welding process and meet structural construction requirements, further driving market adoption.

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Recent Developments

✅ May 2025: ESAB acquired Germany‐based EWM GmbH, expanding its heavy industrial welding solutions portfolio and strengthening its global market presence.

✅ June 2025: Air Liquide announced plans to build and operate a large-scale air separation unit in Japan to supply industrial gases like oxygen, nitrogen, and argon, supporting increased welding material demand from manufacturing and construction sectors.

✅ February 2025: Lincoln Electric acquired Vanair Manufacturing, broadening its mobile power and welding solutions business and enhancing offerings for maintenance and repair service applications.

✅ December 2025: ESAB introduced the Tracfinder Wheel and Tracfinder Rail battery-operated welding tractors, along with its rebranded ROBBI Mobile cobot welding system, promoting automated welding and consumables tailored for robotic processes.

✅ September 2025: Ador showcased its enhanced Rhino E and new solar-powered Rhino S welding systems at the Schweissen & Schneiden 2025 trade show, highlighting demand for off-grid fabrication solutions and durable flux-cored and low-hydrogen rods.

Mergers & Acquisitions

✅ May 2025: ESAB acquired Germany-based EWM GmbH, expanding its heavy industrial welding solutions portfolio and strengthening its global presence in high-performance welding materials and automation systems.

✅ February 2025: Lincoln Electric completed the acquisition of Vanair Manufacturing, broadening its mobile power and welding solutions business and enhancing offerings for maintenance, repair, and service applications.

✅ July 2024: Air Liquide acquired a majority stake in a European industrial gases supplier, securing a stable supply of argon, oxygen, and nitrogen essential for welding processes, while expanding its footprint in the construction and manufacturing sectors.

✅ March 2024: ESAB merged with a robotic welding solutions provider to integrate advanced cobot welding systems with its consumables and electrodes, supporting automated fabrication in industrial applications.

✅ December 2023: A leading Asian welding materials manufacturer acquired a flux-cored wire producer to strengthen its product portfolio and meet rising demand in structural construction, shipbuilding, and automotive industries.

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Key Players:

• ESAB - A leading global provider of welding and cutting solutions, offering consumables, automation systems, and robotic welding technologies.

• Colfax Corporation - Supplies welding equipment and consumables, focusing on industrial fabrication and heavy manufacturing applications.

• Air Liquide S.A. - Provides industrial gases such as oxygen, nitrogen, and argon essential for welding processes, supporting manufacturing and construction sectors.

• Air Products & Chemicals - Offers industrial gas solutions and welding-related gases, serving aerospace, automotive, and infrastructure projects globally.

• Illinois Tool Works (ITW) - Manufactures welding equipment, consumables, and integrated fabrication solutions for diverse industrial applications.

• Linde PLC - Supplies high-purity gases for welding and cutting applications, alongside engineering solutions for industrial gas utilization.

• Lincoln Electric Holdings - Provides welding consumables, equipment, and automation systems, including solutions for maintenance, repair, and service applications.

• Tianjin Bridge Welding Materials Group - Specializes in electrodes, welding wires, and flux-cored wires for structural, shipbuilding, and industrial projects.

• Kobe Steel - Produces welding consumables, including wires and rods, with applications in construction, automotive, and heavy machinery manufacturing.

• HYUNDAI WELDING CO., LTD. - Supplies welding materials and equipment, focusing on industrial fabrication, automotive, and shipbuilding sectors.

Market Segmentation:

By type, electrodes and filler materials dominate with around 40% share, driven by their extensive use in structural fabrication, construction, and heavy machinery applications. Fluxes and wires account for approximately 35%, reflecting demand in MIG, TIG, and flux-cored welding processes across industrial and infrastructure projects. Gases, including argon, oxygen, and nitrogen, capture 25%, supporting various welding techniques and ensuring high-quality, defect-free welds.

By technology, arc welding leads with 50% share, due to its widespread application in construction, shipbuilding, automotive, and industrial fabrication. Oxy-fuel welding accounts for 20%, used in maintenance, repair, and smaller-scale fabrication. Resistance welding holds 15%, primarily in automotive and manufacturing sectors, while other technologies make up 15%, including laser, plasma, and electron beam welding techniques.

By end-user, the construction and building sector dominates with 35%, driven by rising urbanization, infrastructure projects, and commercial construction. Transportation applications represent 30%, including automotive, shipbuilding, and aerospace fabrication. Heavy industries, such as manufacturing plants, power generation, and machinery production, account for 35%, reflecting the ongoing demand for high-quality welding materials and solutions.

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Regional Insights:

Asia-Pacific leads with approximately 45% share, fueled by rapid industrialization, urbanization, and high demand from construction, automotive, and shipbuilding sectors in countries like China, India, Japan, and South Korea.

North America holds around 25%, supported by advanced manufacturing industries, aerospace, and construction projects in the U.S. and Canada.

Europe accounts for about 20%, driven by automotive, heavy machinery, and industrial fabrication, with Germany, France, and the UK leading regional adoption.

Market Dynamics:

The welding material market is primarily driven by the rising demand for lightweight automotive structures. Automakers are increasingly combining metals and plastics to create vehicle frames that are significantly lighter, stronger, safer, and more environmentally friendly. Computer-aided designs allow vehicle and light truck frames to be up to 40% lighter, improving fuel efficiency and reducing emissions. Welding plays a crucial role in assembling these hybrid structures, particularly in battery packs and multilayer components, offering advantages over adhesives and mechanical fasteners by enabling easier disassembly, lower production costs, simplified maintenance, and improved recyclability. This trend is fueling the demand for advanced welding materials that meet stringent strength and durability requirements.

However, the market faces restraints due to the environmental impact of welding processes. Shielding gases such as carbon dioxide and argon, commonly used in welding, contribute significantly to greenhouse gas emissions. Additionally, the energy-intensive processes required to produce and liquefy these gases further increase environmental footprints. According to the International Energy Agency, global CO2 emissions from industrial processes and energy combustion rose by 0.9% in 2022, reaching a record 36.8 Gt, highlighting the sustainability challenges associated with traditional welding practices. These environmental concerns are prompting manufacturers to explore low-emission gases, energy-efficient welding techniques, and alternative materials, which, while essential, may increase costs and slow adoption.

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