Report Summary

The global welding materials market was valued at USD 13.9 billion in 2018 and is anticipated to grow at a CAGR of 6.6% during the forecast period. Welding is a process that uses extreme heat, metals and gases to join metals together. The different welding methods include spot welding, gas metal arc welding, arc welding, and gas welding among others. The welding process uses fluxes, electrodes, and shielding gases to obtain welded joints. Welding fluxes are nonmetallic materials used for various purposes such as shielding the arc and weld puddle from the effects of the atmosphere, preventing spatter in arc welding.

In electroslag welding, the flux forms an electrically conductive melt with specific engineering properties, whereas it cleans the surfaces of the base metal in gas welding. Welding electrodes are made of an electrically conductive material and conduct electric current to the weld. Shielding gases are used to protect the weld from the effects of the surrounding atmosphere, and are also capable of altering the chemical composition of the weld.

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The increasing use of welding materials in infrastructural development, and growth in the global construction sector drive the market growth. Welding materials are used in various industries such as automotive, construction, and manufacturing among others, and growth in these industries worldwide is expected to supplement the market growth. Other factors driving the welding materials industry include growing automation in various industrial processes, increasing investments in energy infrastructure, and improving aesthetics of welds.

The increasing demand from aerospace and transportation sector, and growing development of new filler metals to improve purity is expected to support the market growth during the forecast period. The rising construction activities especially in the developing economies, and increase in industrialization further accelerates the adoption of welding materials. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the welding materials industry.

Segment Analysis

The global welding materials market is segmented on the basis of type, technology, end-user, and region. Based on type, the welding materials industry is segmented into fluxes & wires, electrode & filler materials, gases, accessories, and others. The electrode & filler materials segment accounted for the highest share during 2018 owing to its increasing demand from transportation and construction sectors.

Based on technology, the welding materials industry is segmented into resistance welding, arc welding, ultrasonic welding, oxy-fuel welding, laser beam welding, and others. The end-user segment in the report is categorized into automotive and transportation, power, oil and gas, construction, manufacturing, and others. The automotive and transportation segment accounted for the highest market share in the market during 2018 owing to growing demand for passenger vehicles. The increasing penetration of electric vehicles in Asia-Pacific also supports the market growth in the region.

Welding Materials Market Scope

By Type By Technology By End User By Regions Fluxes & Wires

Electrode & Filler Materials

Gases

Accessories

Others Resistance Welding

Arc Welding

Ultrasonic Welding

Oxy-Fuel Welding

Laser Beam Welding

Others Automotive and Transportation

Power

Oil and Gas

Construction

Manufacturing

Others North America (U.S., Canada)

Europe (Germany, UK, France, Italy, Spain, Belgium, Russia, Netherlands)

Asia-Pacific (China, Japan, India, Australia, Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines)

Latin America (Brazil, Mexico, Argentina)

Middle East and Africa (UAE, Saudi Arabia, South Africa)

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Regional Analysis

The report report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., and Canada. Europe is divided into Germany, UK, France, Italy, Spain, Belgium, Russia, Netherlands, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific.

Asia-Pacific accounted for the largest share in the global market during 2018. The presence of established industries such as manufacturing, and automotive, rapid industrialization, and growth in automation of processes are factors driving the market growth.

Competitive Landscape

The leading players in the report include Air Products And Chemicals, Inc., Praxair Technology, Inc., Tianjin Bridge Welding Materials Group Co., Ltd., The Lincoln Electric Company, Illinois Tool Works Inc., Ador Welding Ltd., Hyundai Welding Co., Ltd., Taiyo Nippon Sanso Corporation, Fronius International GmbH, Miller Electric Mfg. LLC, Iwatani Corporation, and Colfax Corporation among others. The leading players in the welding materials industry are introducing new innovative products in the market to cater to the growing consumer demands. Global players are entering new markets in developing regions to expand their customer base and strengthen presence in the market.