Welding Materials Market

Welding Materials Market by Type (Electrodes & Filler Materials, Fluxes & Wires, Gases), Technology (Arc, Resistance, Oxy-Fuel Welding), End-use Industry (Transportation, Building & Construction, Heavy Industries), & Region - Global Forecast to 2025

Report Code: CH 4247 Mar, 2021, by marketsandmarkets.com

[148 Pages Report] The welding materials market is projected to grow from USD 13.6 billion in 2020 to USD 17.3 billion by 2025, at a CAGR of 4.8% during the forecast period. The welding materials market has grown considerably in recent times due to the development of the transportation industry and growth in the building and construction activities in emerging economies such as China and India. This is expected to remain a key driving factor for the market over the next five years. However, environmental impact of welding materials shortage of skilled labor and high labor cost restrain the growth of the market.

Welding Materials Market

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COVID-19 impact on global welding materials market

The welding materials industry was majorly impacted by COVID-19. In the initial stages of the pandemic, factories in several countries were forced to shut down as the governments implemented strict lockdowns to stop the spread of the virus. After the lockdown was lifted and restrictions were eased, welding material manufacturers were allowed to resume factory operations but at a limited capacity and under several rules and regulations.

The demand for welding materials also reduced as the majority of the demand is linked to the end-use industries, which are also facing difficulties operating during the pandemic. Many construction projects and activities, including government infrastructure projects, which were initially running, came to a complete halt due to the imposition of lockdowns. The construction industry, like many others, is labor-intensive. Mass unemployment in the construction industry led to widespread panic, leading laborers to return to their homelands to sit out the pandemic. Even after the easing of restrictions in several countries, construction companies are working with reduced finances, labor, and working hours, which are further going to delay project deliveries. The impact of the slowdown of the construction industry was felt by the welding materials industry as well. Apart from the shutdown of production facilities, the cancellation of several projects in the commercial and industrial construction sectors reduced the demand for welding materials in 2020.

The adverse effect of COVID-19 on the automotive industry also had a negative impact on the welding materials market. Major impacts on the industry were due to a disruption in Chinese parts exports, the closure of assembly plants in the US, and large-scale manufacturing interruptions across Europe. This is placing intense pressure on an industry already coping with a downshift in global demand.

Another industry that was majorly disrupted by the pandemic was the oil & gas industry. While the historic deal pulled off by OPEC+ to slash global oil production by 10% might put an end to the prolonged price war, it would not be enough to offset the havoc created by the pandemic. Concerns persist with an oversupplied crude oil market having stagnant demand from chemical and refined product industries. In a statement issued on February 28 alongside its FY 2019, the German chemical company BASF said that the viral infection could result in a second year of falling profit for the company and reduce global chemical production to about 1.2%. That would be the worst growth for the sector since the Great Recession in 2008 and a significant dip compared to 2019 when it grew 1.8%. The gas industry in the current context combines a supply shock with an unprecedented demand drop and a global humanitarian crisis. Natural gas has experienced its largest demand shock on record, with the pandemic hitting an already weakened market.

Welding materials Market Dynamics

Driver: Increasing demand from end-use industries

Welding is widely used in the transportation industry to manufacture various vehicle body parts and possesses the same strength as the materials being joined. In 2019, the transportation end-use industry constituted 34.42% of the total welding materials market. According to OICA (Organisation Internationale des Constructeurs d'Automobiles), the global production of passenger cars amounted to 67.14 million. Although the production of vehicles saw a decline of approximately 5% in 2019 from 2018, there is still a large scope for growth of the welding materials market in this industry. Innovations and technological advancements in the automotive industry to cater to the growing demand from customers is expected to create a high demand for welding materials during the forecast period.

Welding materials also find applications in the building & construction industry, which is growing at a steady rate, especially in the emerging economies of India, China, and Brazil. In these countries, new infrastructural development projects are likely to drive the welding materials market.

The growing demand for welded steel for the construction of residential and commercial buildings is expected to drive the market during the forecast period. According to the Global Construction Perspectives and Oxford Economics, the global construction output is expected to grow by 85% and reach USD 15.5 trillion by 2030, with three countries – India, China, and the US leading the way and accounting for over 50% of the global growth. This growth in construction output will positively impact the market for welding materials.

Restraint: Environmental impact of welding materials

Welding gases accounted for 18.34% of the overall welding materials market in 2019. The physical properties of welding gases have a major effect on the welding speed, penetration, mechanical properties, weld appearance, fume generation, and arc stability. Shielding gases such as argon and carbon dioxide are important components in the fabrication processes of the automotive, aerospace, transportation, and construction industries. A large amount of greenhouse gases are generated during the welding process, wherein shielding gases such as carbon dioxide and argon are mainly used as welding materials. Shielding gases are used in many end-use industries such as automotive, building & construction, and power & energy in the welding process. Hence, the emission of greenhouse gases from the welding process has a significant impact on the environment. The excess CO2 emission into the atmosphere is tremendously impacting the atmospheric balance, causing global warming. The cryogenic process used to liquefy carbon dioxide and argon demands a large amount of electricity and accounts for most emissions. Argon gas production requires double the energy expenditure due to the need to cool it to a very low temperature; it, therefore, causes more emissions than liquefying carbon dioxide.

According to the International Energy Agency, in 2018, 47% of the global CO2 emissions were caused by industrial processes. Hence, to control this rising emission, several governing bodies and associations are imposing strict rules and regulations to cut gas emissions. For example, the United States Environmental Protection Agency (EPA), through its Clean Air Act, is developing standards to reduce the emission of CO2 and other greenhouse gases into the atmosphere.

Opportunity: New and advanced applications

Welding techniques such as laser welding and ultrasonic welding are witnessing increasing adoption, which, in turn, is propelling the welding materials market. These welding techniques have high efficiency and several advantages that make them suitable for numerous applications. These techniques are becoming increasingly popular in end-use industries where precision and accuracy of the joints have high importance, such as electric appliances, robotic appliances, and moving automotive parts. The demand for welding materials will be further propelled as welding is the only joining technique that can be used in space and underwater. Welding plays an important role in the repair of ships, pipelines, and offshore oil platforms. Underwater welding is also becoming an emerging technique in marine applications. Additionally, it is used by end-use industries in repair & maintenance operations. To reduce the weight of car bodies for lower environmental load substance and workability improvement, steel materials are required to have super high tensile strength and be able to deal with complex structures of parts with high performance. In the field of thick plates and steel pipes, the trend of mega-structural construction and high-efficiency transportation creates the demand for thick and high tensile strength steel products. To fully utilize such advanced steel products, the advancement of welding technologies is necessary. Various welding technologies have been developed and applied with the progress of steel materials. The transportation and automobile industries are among the biggest consumers of welding materials.

Challenges: Shortage of skilled labor and high labor cost

The welding industry is highly dependent on labor. According to industry experts, there is a shortage of skilled welders in countries across the world, and it is only getting worse as each year passes. This, coupled with the high labor cost in North America and Europe, is expected to act as a major challenge for the growth of the welding materials market. A number of infra-project contractors are using welding and cutting operators from China, India, Russia, and East European countries, as they face a shortage of skilled welding workforce. All projects related to infrastructure, roads, railways, bridges, power, and shipping are highly reliant on the right metal joining technology, which can only be successfully executed by trained and certified workforce. The Indian Institute of Welding (IIW) has estimated a short supply of 1.2 million welding professionals, including welders, cutters, fitters, equipment operators, and engineers and inspectors. IIW has petitioned the Union Ministry for skill development about shortfall on account of growth-led increased job openings and replacing the retiring workforce. The current shortage of 1.2 million welding professionals in India may increase to 1.35 million in the next three years.

The arc welding segment is projected to lead the global welding materials market through 2025

Arc welding has the advantage of high heat concentration during the welding process wherein an electric arc is produced in between the electrode & base materials that melt the metals. The major advantage of arc welding is the concentration of heat applied to a large surface that enables better welding by providing a depth of penetration, which ultimately reduces the welding time. Arc welding is the most preferred welding technology due to its low cost and can be applied to a wide range of metal surfaces.

The fluxes & wires segment is projected to grow at the highest CAGR in the welding materials market during the forecast period

The fluxes & wires segment is projected to grow at the highest CAGR in the welding materials market from 2020 to 2025. Flux is a chemical agent, which is used to clean a surface or can be used as a purifying agent. The flux material is used to dissolve the oxides by releasing gases that are trapped on the surface. Fluxes also help remove the impurities from the base metal surface that can further provide a good blending between the base metal and the filler material surface.

The Asia Pacific is projected to hold the largest share in the welding materials market during the forecast period

The increasing number of new housing units and huge investments in the infrastructural sector are also fueling the demand for welding materials in this region. According to the World Bank, APAC is the fastest-growing region in terms of both population and economic growth. The region has experienced significant growth in the last decade and accounted for approximately 34% of the global GDP in 2019. According to the Population Reference Bureau, China, India, and other emerging APAC countries had a combined population exceeding 4 billion in 2019, which is projected to become an increasingly important driver for global consumption over the next two decades.

Welding Materials Market  by Region

Key Market Players

The welding materials market is dominated by a few globally established players, such as Colfax Corporation (US), Air Liquide S.A. (Framce), Air Products & Chemicals (US), Illinois Tool Works (US), Linde PLC (UK), Lincoln Electric Holdings (US), Tianjin Bridge Welding Materials Group (China), and Kobe Steel (Japan), among others.

Scope of the report

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD)

Segments covered

Type, Technology, End-Use Industry, and Region

Geographies covered

North America, Asia Pacific, Europe, Middle East & Africa, and South America

Companies covered

Colfax Corporation (US), Air Liquide S.A. (Framce), Air Products & Chemicals (US), Illinois Tool Works (US), Linde PLC (UK), Lincoln Electric Holdings (US), Tianjin Bridge Welding Materials Group (China), and Kobe Steel (Japan).
Total 25 market players are covered in the report.

This research report categorizes the welding materials market based on type, technology, end-use industry and region.

Based on Type:

  • Electrodes & Filler Materials
  • Fluxes & Wires
  • Gases

Based on the Technology:

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

Based on the End-Use Industry:

  • Transportation
  • Building & Construction
  • Heavy Industries
  • Others

Based on the Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Recent Developments

  • In November 2020, The ESAB Group Inc. and leading robot and robot system company, YASKAWA, announced a global cooperation agreement to jointly develop and market a line of pre-engineered robotic welding systems called XCellerator. The XCellerator systems will be engineered and built by Yaskawa and marketed by ESAB through its global sales channels.
  • In November 2020, ESAB Welding & Cutting Products has introduced Shield-Bright NiCrMo-3, a 625-type electrode for manual and automatic flux cored wide-weave welding of 9% nickel steel in the vertical-up (3G) position and using 75% argon/25% CO2 shielding gas.
  • In June 2020, Lincoln Electric introduced the all-new Excalibur 7018 XMR low-hydrogen stick electrode as part of the Excalibur SMAW (stick) electrode series. Excalibur 7018 XMR offers exceptional low moisture content even after 24 hours of exposure – remaining below the moisture content limit for 15 hours more than required under the American Welding Society’s AWS A5.1.
  • In July 2019, Lincoln Electric Holdings announced the completion of the purchase of the controlling stake of Kaynak Teknigi Sanayi ve Ticaret A.S. (Turkey) to advance Lincoln Electric’s regional growth strategy in Europe, the Middle East, and Africa.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 17)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 SCOPE OF THE STUDY
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 20)
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
    2.2 MARKET SIZE ESTIMATION
           2.2.1 APPROACH
    2.3 DATA TRIANGULATION
    2.4 ASSUMPTIONS
    2.5 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 26)

4 PREMIUM INSIGHTS (Page No. - 29)
    4.1 APAC TO WITNESS THE HIGHEST GROWTH RATE DUE TO INCREASING CONSTRUCTION ACTIVITIES
    4.2 WELDING MATERIALS MARKET, BY REGION AND END-USE INDUSTRY, 2019
    4.3 GLOBAL WELDING MATERIALS MARKET, BY COUNTRY

5 MARKET OVERVIEW (Page No. - 31)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand from end-use industries
                    5.2.1.2 Long-term growth in emerging markets and global energy infrastructural investments
           5.2.2 RESTRAINTS
                    5.2.2.1 Environmental impacts of welding materials
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growth prospect in developing countries
                    5.2.3.2 New and advanced applications
           5.2.4 CHALLENGES
                    5.2.4.1 Shortage of skilled labor and high labor cost

6 INDUSTRY TRENDS (Page No. - 35)
    6.1 INTRODUCTION
    6.2 VALUE CHAIN
           6.2.1 PROMINENT COMPANIES
           6.2.2 SMALL & MEDIUM ENTERPRISES
    6.3 PORTER’S FIVE FORCES ANALYSIS
           6.3.1 THREAT OF NEW ENTRANTS
           6.3.2 THREAT OF SUBSTITUTES
           6.3.3 BARGAINING POWER OF SUPPLIERS
           6.3.4 BARGAINING POWER OF BUYERS
           6.3.5 INTENSITY OF COMPETITIVE RIVALRY
    6.4 IMPACT OF COVID-19 ON WELDING MATERIALS MARKET
    6.5 INSIGHTS ON ARC WELDING AND SPOT WELDING
           6.5.1 ARC WELDING
           6.5.2 SPOT WELDING
           6.5.3 TRENDS
                    6.5.3.1 Consumable trends
                    6.5.3.2 Automation
                    6.5.3.3 New processes
                    6.5.3.4 Advanced materials
                    6.5.3.5 Micro Welding

7 WELDING MATERIALS MARKET, BY TECHNOLOGY (Page No. - 47)
    7.1 INTRODUCTION
    7.2 ARC WELDING
           7.2.1 MOST PREFFERED TECHNOLOGY FOR WELDING PROCESS
    7.3 RESISTANCE WELDING
           7.3.1 GENERALLY USED FOR WELDING THINNER GAUGE METALS
    7.4 OXY-FUEL WELDING
           7.4.1 CAN BE USED TO WELD IN PLACES THAT DO NOT HAVE ACCESS TO ELECTRICITY
    7.5 OTHERS

8 WELDING MATERIALS MARKET, BY TYPE (Page No. - 51)
    8.1 INTRODUCTION
    8.2 ELECTRODES & FILLER MATERIALS
           8.2.1 ECONOMICAL AND CAN BE USED ON A WIDE RANGE OF METALS
    8.3 FLUXES & WIRES
           8.3.1 FLUXES SHIELD THE WELD FROM THE ATMOSPHERE AND PREVENT OXIDATION
    8.4 GASES
           8.4.1 MAINLY USED TO PROTECT MOLTEN METALS FROM CONTAMINATION AND OXIDATION

9 WELDING MATERIALS MARKET, BY END-USE INDUSTRY (Page No. - 56)
    9.1 INTRODUCTION
    9.2 TRANSPORTATION
           9.2.1 KEY END-USE INDUSTRY OF WELDING MATERIALS
    9.3 BUILDING & CONSTRUCTION
           9.3.1 INCREASING CONSTRUCTION ACTIVITIES IN EMERGING ECONOMIES TO BOOST THE MARKET
    9.4 HEAVY INDUSTRIES
           9.4.1 WELDING IS ESSENTIAL FOR REPAIRING SHIPS, PIPELINES, AND OFFSHORE OIL PLATFORMS
    9.5 OTHERS

10 WELDING MATERIALS MARKET, BY REGION (Page No. - 60)
     10.1 INTRODUCTION
     10.2 APAC
             10.2.1 CHINA
                        10.2.1.1 Largest producer and consumer of welding materials
             10.2.2 JAPAN
                        10.2.2.1 Market growth supported by innovations in the transportation industry
             10.2.3 INDIA
                        10.2.3.1 To be the fastest-growing market in APAC by 2025
             10.2.4 INDONESIA
                        10.2.4.1 Growing population to boost construction demand and the welding materials market
             10.2.5 REST OF APAC
     10.3 NORTH AMERICA
             10.3.1 US
                        10.3.1.1 US to lead the welding materials market in North America by 2025
             10.3.2 CANADA
                        10.3.2.1 High usage of welding materials due to vast automobile industry
             10.3.3 MEXICO
                        10.3.3.1 To be the fastest-growing market in North America
     10.4 EUROPE
             10.4.1 GERMANY
                        10.4.1.1 To dominate the welding materials market in Europe by 2025
             10.4.2 UK
                        10.4.2.1 Growth in the automotive industry to offer lucrative opportunities for the market
             10.4.3 FRANCE
                        10.4.3.1 Increasing foreign investments in various end-use industries to drive the welding materials market
             10.4.4 RUSSIA
                        10.4.4.1 Market growth supported by the rise in public and private construction projects
             10.4.5 ITALY
                        10.4.5.1 Market growth favored by the vast automotive industry
             10.4.6 NETHERLANDS
                        10.4.6.1 Growth in the manufacturing sector significantly contributes to the increase in demand for welding materials
             10.4.7 REST OF EUROPE
     10.5 MIDDLE EAST & AFRICA
             10.5.1 SAUDI ARABIA
                        10.5.1.1 Market growth supported by increasing government investments toward public infrastructure-related projects
             10.5.2 SOUTH AFRICA
                        10.5.2.1 Growing automotive trade to boost the market in South Africa
             10.5.3 REST OF MIDDLE EAST & AFRICA
     10.6 SOUTH AMERICA
             10.6.1 BRAZIL
                        10.6.1.1 Brazil to dominate the welding materials market in South America
             10.6.2 ARGENTINA
                        10.6.2.1 Government focus on encouraging automotive industry is an important driving force
             10.6.3 REST OF SOUTH AMERICA

11 COMPETITIVE LANDSCAPE (Page No. - 90)
     11.1 OVERVIEW
     11.2 COMPETITIVE SCENARIO
             11.2.1 MERGER & ACQUISITION
             11.2.2 EXPANSION & INVESTMENT
             11.2.3 JOINT VENTURE & AGREEMENT
             11.2.4 NEW PRODUCT DEVELOPMENT
     11.3 COMPETITIVE EVALUATION MATRIX
             11.3.1 OVERVIEW
             11.3.2 STAR
             11.3.3 EMERGING LEADERS
             11.3.4 PERVASIVE
             11.3.5 EMERGING COMPANIES
     11.4 STRENGTH OF PRODUCT PORTFOLIO
     11.5 BUSINESS STRATEGY EXCELLENCE

12 COMPANY PROFILES (Page No. - 101)
     12.1 AIR LIQUIDE S.A.
             12.1.1 BUSINESS OVERVIEW
             12.1.2 FINANCIAL ASSESSMENT
             12.1.3 OPERATIONAL ASSESSMENT
             12.1.4 PRODUCTS OFFERED
             12.1.5 RECENT DEVELOPMENTS
             12.1.6 SWOT ANALYSIS
             12.1.7 CURRENT FOCUS AND STRATEGIES
             12.1.8 WINNING IMPERATIVES
             12.1.9 RIGHT TO WIN
     12.2 AIR PRODUCTS & CHEMICALS INC.
             12.2.1 BUSINESS OVERVIEW
             12.2.2 FINANCIAL ASSESSMENT
             12.2.3 PRODUCTS OFFERED
             12.2.4 RECENT DEVELOPMENTS
             12.2.5 SWOT ANALYSIS
             12.2.6 CURRENT FOCUS AND STRATEGIES
             12.2.7 WINNING IMPERATIVES
             12.2.8 RIGHT TO WIN
     12.3 COLFAX CORPORATION
             12.3.1 BUSINESS OVERVIEW
             12.3.2 FINANCIAL ASSESSMENT
             12.3.3 PRODUCTS OFFERED
             12.3.4 RECENT DEVELOPMENTS
             12.3.5 SWOT ANALYSIS
             12.3.6 WINNING IMPERATIVES
             12.3.7 RIGHT TO WIN
     12.4 ILLINOIS TOOL WORKS INC.
             12.4.1 BUSINESS OVERVIEW
             12.4.2 FINANCIAL ASSESSMENT
             12.4.3 PRODUCTS OFFERED
             12.4.4 SWOT ANALYSIS
             12.4.5 CURRENT FOCUS AND STRATEGIES
             12.4.6 WINNING IMPERATIVES
             12.4.7 RIGHT TO WIN
     12.5 LINDE PLC
             12.5.1 BUSINESS OVERVIEW
             12.5.2 FINANCIAL ASSESSMENT
             12.5.3 PRODUCTS OFFERED
             12.5.4 RECENT DEVELOPMENTS
             12.5.5 SWOT ANALYSIS
             12.5.6 RIGHT TO WIN
     12.6 LINCOLN ELECTRIC HOLDINGS
             12.6.1 BUSINESS OVERVIEW
             12.6.2 FINANCIAL ASSESSMENT
             12.6.3 PRODUCTS OFFERED
             12.6.4 RECENT DEVELOPMENTS
             12.6.5 RIGHT TO WIN
     12.7 ADOR WELDING LIMITED
             12.7.1 BUSINESS OVERVIEW
             12.7.2 PRODUCTS OFFERED
             12.7.3 RIGHT TO WIN
     12.8 TIANJIN BRIDGE WELDING MATERIALS GROUP CO. LTD. 
             12.8.1 BUSINESS OVERVIEW
             12.8.2 PRODUCTS OFFERED
             12.8.3 RIGHT TO WIN
     12.9 KOBE STEEL (KOBELCO)
             12.9.1 BUSINESS OVERVIEW
             12.9.2 PRODUCTS OFFERED
             12.9.3 RIGHT TO WIN
     12.10 OTHER PLAYERS
             12.10.1 PRECISION CASTPARTS CORP.
             12.10.2 ROLLED ALLOYS
             12.10.3 LAIWU JINCAI WELDING MATERIALS CO. LTD
             12.10.4 ADVANCED TECHNOLOGIES AND MATERIALS CO. LTD.
             12.10.5 HYUNDAI WELDING CO. LTD.
             12.10.6 ZULFI WELDING ELECTRODES FACTORY CO. LTD.
     12.11 WELDING MACHINE MANUFACTURERS
             12.11.1 DENYO CO. LTD
             12.11.2 ACRO AUTOMATION SYSTEMS INC. (US)
             12.11.3 PANASONIC CORPORATION
             12.11.4 ESAB
             12.11.5 VOESTALPINE BOHLER WELDING GMBH
             12.11.6 CARL CLOOS SCHWEISSTECHNIK GMBH
             12.11.7 DAIHEN CORPORATION
             12.11.8 BANNER WELDING INC 
             12.11.9 SONICS & MATERIALS, INC.
             12.11.10 AMADA WELD TECH
             12.11.11 FRONIUS INTERNATIONAL GMBH

13 APPENDIX (Page No. - 142)
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATIONS
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS


LIST OF TABLES (73 Tables)

TABLE 1 WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY, 2018–2025 (USD MILLION)
TABLE 2 WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 3 WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
TABLE 4 WELDING MATERIALS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 5 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
TABLE 6 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 7 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 8 APAC: WELDING MATERIALS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 9 APAC: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY, 2018–2025 (USD MILLION)
TABLE 10 APAC: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 11 APAC: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 12 CHINA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 13 CHINA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 14 JAPAN: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 15 JAPAN: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 16 INDIA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 17 INDIA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 18 INDONESIA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 19 INDONESIA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 20 REST OF APAC: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 21 REST OF APAC: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 22 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
TABLE 23 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
TABLE 24 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 25 NORTH AMERICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 26 US: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 27 US: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 28 CANADA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 29 CANADA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 30 MEXICO: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 31 MEXICO: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 32 EUROPE: WELDING MATERIALS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 33 EUROPE: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
TABLE 34 EUROPE: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 35 EUROPE: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 36 GERMANY: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 37 GERMANY: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 38 UK: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 39 UK: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 40 FRANCE: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 41 FRANCE: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 42 RUSSIA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 43 RUSSIA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 44 ITALY: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 45 ITALY: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 46 NETHERLANDS: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 47 NETHERLANDS: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 48 REST OF EUROPE: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 49 REST OF EUROPE: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 50 MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
TABLE 51 MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
TABLE 52 MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 53 MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
TABLE 54 SAUDI ARABIA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 55 SAUDI ARABIA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 56 SOUTH AFRICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 57 SOUTH AFRICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 58 REST OF MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 59 REST OF MIDDLE EAST & AFRICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
TABLE 60 SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY COUNTRY,  2018–2025 (USD MILLION)
TABLE 61 SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TECHNOLOGY,  2018–2025 (USD MILLION)
TABLE 62 SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 63 SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 64 BRAZIL: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 65 BRAZIL: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 66 ARGENTINA: WELDING MATERIALS MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 67 ARGENTINA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY,  2018–2025 (USD MILLION)
TABLE 68 REST OF SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY TYPE,  2018–2025 (USD MILLION)
TABLE 69 REST OF SOUTH AMERICA: WELDING MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2018–2025 (USD MILLION)
TABLE 70 MERGER & ACQUISITION
TABLE 71 EXPANSION & INVESTMENT
TABLE 72 JOINT VENTURE & PARTNERSHIP
TABLE 73 NEW PRODUCT DEVELOPMENT
 

LIST OF FIGURES (41 Figures)

FIGURE 1 WELDING MATERIALS MARKET SEGMENTATION
FIGURE 2 APPROACH (TOP-DOWN)
FIGURE 3 APPROACH (BOTTOM-UP)
FIGURE 4 WELDING MATERIALS MARKET: DATA TRIANGULATION
FIGURE 5 KEY MARKET INSIGHTS
FIGURE 6 LIST OF STAKEHOLDERS INVOLVED AND BREAKDOWN OF PRIMARY INTERVIEWS
FIGURE 7 ELECTRODES & FILLER MATERIALS TO BE THE LARGEST MATERIAL TYPE
FIGURE 8 ARC WELDING TO BE THE FASTEST-GROWING TECHNOLOGY
FIGURE 9 TRANSPORTATION END-USE INDUSTRY TO LEAD THE WELDING MATERIALS MARKET
FIGURE 10 APAC TO GROW AT THE HIGHEST RATE IN THE WELDING MATERIALS MARKET FROM 2020 TO 2025
FIGURE 11 INCREASING DEMAND FROM TRANSPORTATION INDUSTRY TO DRIVE THE WELDING MATERIALS MARKET
FIGURE 12 APAC AND ELECTRODES & FILLER MATERIALS SEGMENT ACCOUNTED FOR LARGEST SHARES
FIGURE 13 WELDING MATERIALS MARKET IN INDIA TO REGISTER THE HIGHEST CAGR FROM 2020 TO 2025
FIGURE 14 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE WELDING MATERIALS MARKET
FIGURE 15 GLOBAL AUTOMOBILE PRODUCTION DATA, 2016-2019
FIGURE 16 GLOBAL ENERGY DEMAND
FIGURE 17 WELDING MATERIALS MARKET: VALUE CHAIN
FIGURE 18 WELDING MATERIALS MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 19 PROCESS-WISE AND PERIOD-WISE IN TERMS OF WELD METAL REQUIRED IN INDIA
FIGURE 20 ARC WELDING TECHNOLOGY SEGMENT TO LEAD THE MARKET THROUGHOUT THE FORECAST PERIOD
FIGURE 21 FLUXES & WIRES TO BE THE FASTEST-GROWING SEGMENT THROUGHOUT THE FORECAST PERIOD
FIGURE 22 TRANSPORTATION INDUSTRY TO LEAD THE MARKET THROUGHOUT THE FORECAST PERIOD
FIGURE 23 REGIONAL SNAPSHOT: INDIA TO BE THE FASTEST-GROWING COUNTRY-LEVEL MARKET FROM 2020 TO 2025
FIGURE 24 APAC: WELDING MATERIALS MARKET SNAPSHOT
FIGURE 25 MERGER & ACQUISITION IS THE MOST FOLLOWED STRATEGY BY THE COMPANIES
FIGURE 26 WELDING MATERIALS MARKET: COMPETITIVE EVALUATION MATRIX, 2020
FIGURE 27 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN WELDING MATERIALS MARKET
FIGURE 28 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN WELDING MATERIALS MARKET
FIGURE 29 AIR LIQUIDE S.A.: COMPANY SNAPSHOT
FIGURE 30 AIR LIQUIDE S.A.: SWOT ANALYSIS
FIGURE 31 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT
FIGURE 32 AIR PRODUCTS AND CHEMICALS INC.: SWOT ANALYSIS
FIGURE 33 COLFAX CORPORATION: COMPANY SNAPSHOT
FIGURE 34 COLFAX CORPORATION: SWOT ANALYSIS
FIGURE 35 ILLINOIS TOOL WORKS INC.: COMPANY SNAPSHOT
FIGURE 36 ILLINOIS TOOL WORKS INC.: SWOT ANALYSIS
FIGURE 37 LINDE PLC: COMPANY SNAPSHOT
FIGURE 38 LINDE PLC: SWOT ANALYSIS
FIGURE 39 LINCOLN ELECTRIC HOLDINGS: COMPANY SNAPSHOT
FIGURE 40 ADOR WELDING LIMITED: COMPANY SNAPSHOT
FIGURE 41 KOBE STEEL: COMPANY SNAPSHOT

The study involved four major activities for estimating the current global size of the welding materials market. The exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizes with the industry experts across the value chain of welding materials through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the welding materials market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Factiva, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, to identify and collect information for this study on the welding materials market. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Primary Research

Various primary sources from both the supply and demand sides of the welding materials market were interviewed to obtain qualitative and quantitative information. The primary sources from the supply-side included industry experts, such as Chief Executive Officers (CEOs), vice presidents, marketing directors, sales professionals, and related key executives from various leading companies and organizations operating in the welding materials industry. The breakdown of the profiles of primary respondents is as follows:

Welding Materials Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the global size of the welding materials market. These approaches were also used extensively to estimate the size of various dependent segments of the market. The research methodology used to estimate the market size included the following details:

  • The key players were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments of the welding materials market. The data was triangulated by studying various factors and trends from both the demand- and supply-side.

Research Objectives

  • To define, describe, and forecast the welding materials market in terms of value
  •  To elaborate drivers, restraints, opportunities, and challenges in the market
  • To analyze and forecast the market size on the basis of type, technology, and end-use industry
  • To forecast the market size, along with segments and submarkets, in key regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, along with their key countries
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the total market
  • To analyze growth opportunities in the market for stakeholders and provide details on the competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies2
  • To analyze competitive developments in the market, such as merger & acquisition, expansion & investment, joint venture & partnership, and new product development

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the welding materials report:

Product Analysis

  •  Product matrix, which offers a detailed comparison of the product portfolio of companies

Regional Analysis

  •  Further analysis of the welding materials market for additional countries

Company Information

  •  Detailed analysis and profiling of additional market players (up to five)
COVID-19

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Benchmarking the rapid strategy shifts of the Top 100 companies in the Welding Materials Market

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