Press release
Welding Consumables Market to Witness a Pronounce Growth During 2016 to 2022
Welding finds application in various end-use industries such as building & construction, automobile & transportation, marine, power generation, and oil & gas etc. The welding industry growth is highly dependent on the global steel consumption in various end-use industries. Stick electrode, flux-cored wires, solid wires, SAW wires and fluxes, etc. are some of the welding consumables employed during the welding process. However, flux does not form the final part of welding and is wasted during the course of welding.
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The global welding consumables market is projected to register a healthy CAGR during the forecast period, particularly in the growing economies such as China & India.
The global welding consumables market is forecast to witness high growth over the forecast period owing to the positive outlook in various end-use industries such as the automotive & transportation, marine, and construction industries.
Slow adoption of advanced technologies, particularly in the developing countries poses a threat to the growth of the global welding consumables market.
The principal trends that are positively impacting the growth of the market are the upcoming technologies that are being developed, and especially those technologies which are designed to weld thick metal parts.
Also, the players in the global welding consumables market are inclined towards automation at different stages in the welding process, and it is predicted that the development of robots and automation software would be viable trends which would positively influence the growth of the global welding consumables market over the forecast period.
The global construction industry is booming and is anticipated to be one of the primary reasons driving the growth of the global welding consumables market. The rise in the construction activities globally is projected to lead high demands for welding consumables in the construction industry, fueling the growth of the global welding consumables market over the forecast period.
The global welding consumables market is projected to witness a considerable growth in CAGR from 2015 to 2025. Currently, North America and Europe are the matured market for welding consumable providers. However, Asia-Pacific, and MEA are expected to become lucrative regional market for key players operating in the global welding consumables market. FMI forecasts, the market in Asia-Pacific region is expected to grow at fastest CAGR over the forecast period.
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Some of the key players operating in the global welding consumables market are, Bohler Welding, ESAB, Hyundai, Lincoln Electric, Air Liquide, ARCON Welding, Denyo, Fronius International, Illinois Tool Work, ITW, Kemppi, Kobelco, OBARA, Panasonic, Tianjin Bridge Welding Materials Group
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