Welding Consumables Market - Global Industry Analysis and Forecast | 2020
The growth in the construction activities is a key factor boosting the demand for welding consumables. Industrialization and urbanization in the developing nations of the Middle East and Africa region is anticipated to drive the market for welding consumables in the years to come. A high growth can be seen in the automobile industry across the European and the Middle Eastern region and since this is one of the key application areas of welding consumables, the market for the same will witness a remarkable growth. The development of advanced welding technologies and the adoption of the same, extensively in European countries, will push the growth of the market for welding consumables. However, slow adoption of advanced welding technologies in the under developed nations of Africa shall pose a challenge for the growth of the market.
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Shortage of Skilled Labor to Drive Demand for Welding Automation Technology
The growing need for welding automation technology can be felt, especially in fabrication. This will be a key factor fueling the growth of the welding consumables market across EMEA. The demand for welding automation technology is also high from manufacturing industries, on account of the shortage of skilled labor. High price of labor is another important factor pushing the demand for welding automation technology, especially in the developed nations of Europe.
Fabrication and Maintenance Applications Create Demand for Welding Consumables
Welding consumables products are now in demand from applications such as maintenance and fabrications. These products are also witnessing high demand from applications that involve repairing solutions and joining. The wide use of welding consumables across ship building industries in the EMEA region will also help push the market to grow. In addition to this, they are being used in energy and transportation sectors. The construction industry in the Middle East is witnessing a tremendous growth in the recent past and this is responsible for the growth in the demand for welding consumables in the region. Many construction projects are in the pipeline in Saudi Arabia and other GCC states. This in turn is expected to fuel the demand for welding consumables in the coming years as well. Moreover, upcoming and new projects oil and gas industry as well as the metals and mining sector will propel the demand for welding consumables.
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High Prevalence of Manual Welding Service to Drive Demand for Electrodes in MEA
Among the various types of welding consumables such as stick electrodes, solid wires, SAW wires and fluxes, and flux-cored wires, the demand for stick electrodes will see a high demand in the Middle East and Africa. On account of the high prevalence of manual welding services in this part of the world, the demand for electrodes is high. In addition to this, the cost of electrodes is low and thus, in more demand. It is estimated that the demand for wires and fluxes will be high in the developed nation of Europe.
European Welding Consumables Market Approaching Saturation Level
While in the past Europe may have held a high share in the welding consumables market, it is not so now. The European market for welding consumables is approaching stagnation and shall see little rise in the sale of these products. The highly developed automobile industry will however, bring much revenue to Europe’s welding consumables market. The Middle East is anticipated to acquire a larger share of the pie in the years to come, fueled by the high investments in oil and gas sector.
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Welding Consumables Market:
Welding is typically a sculptural process of joining various metals and thermoplastics together by means of coalescence. It is an economical and effective process for creating strong joints between two or more parts. Filler metals melt during the course of welding and give a strong joint. Flux is commonly used to produce a shield of gas around the weld pool for preventing the oxidation of hot metals. Flux typically acts