Projection pf future demand for welding materials is a major challenge for Welding Materials Market
The report "Welding Materials Market by Type (Electrode & Filler Materials, Fluxes & Wires, Gases), End-Use Industry (Transportation, Building & Construction, Heavy Industries), Technology (ARC, Resistance, OXY-Fuel Welding), and Region - Global Forecast to 2021", The welding materials market is projected to reach USD 15.80 Billion by 2021, at a CAGR of 5.2% from 2016 to 2021. This growth is mainly attributed to the increasing demand for welding materials from the transportation, plant & machinery manufacturing, and building & construction industries worldwide.
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Research Methodology
This study aims to estimate the welding materials market size for 2016 and projects its demand till 2021. It also provides a detailed qualitative and quantitative analysis of the welding materials market. Various secondary sources that include directories, industry journals, various associations (such as American Welding Society, The European Welding Associations, and Canadian Welding Associations), and databases have been used to identify and collect information useful for this extensive commercial study of the welding materials market.
Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess future prospects of the welding materials market.
Based on technology, the welding materials market has been segmented into arc welding, resistance welding, oxy-fuel welding, and others. Arc welding offers several advantages such as high heat concentration, uniformity in metal deposition, good corrosion resistance, and high impact resistance. Owing to these advantages, arc welding is considered as the most prominent welding process among other welding technologies. This process is mainly utilized in varied end-use industries, such as automotive, heavy industries, and building & construction.
The welding materials market in the Asia-Pacific region is anticipated to grow at the highest CAGR between 2016 and 2021. China and India have witnessed economic growth, owing to increased construction activities and investments made in the expansion or upgrade of manufacturing facilities. Moreover, initiatives undertaken by various governments worldwide to support growth in the manufacturing sector will propel the demand for welding materials in the Asia-Pacific region.
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Key companies operating in the welding materials market include Air Products and Chemicals, Inc. (U.S.), The Linde Group (Germany), Praxair Incorporated (U.S.), Colfax Corporation (U.S.), Air Liquide S.A. (France), Ador Welding Limited (India), Illinois Tool Works Inc. (U.S.), Lincoln Electric Holdings, Inc. (U.S.), and Tianjin Bridge Welding Materials Group Co., Ltd. (China). These players have a wide market reach with established distribution network, and are investing more on research & development activities. They also have strong technical and market development capabilities, which enable them to upgrade their existing products for new applications.
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