Global Welding Materials Market, by Type (Electrode & Fillers, Fluxes & Wires, Gases), Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding), End-Use Industry (Automotive & Transportation, Building & Construction, Marine, Oil & Gas), and Region till 2023
—
Welding is one of the important fabrication processes in which different parts of metal or thermoplastic are joined together. The welding process causes the high-temperature fusion of metal parts without melding the base metal. Welding is different from brazing and soldering, which involve low-temperature metal joining.
Generally, this process includes the filler material, which is added at the point of joining in order to pool the metal parts. The addition of Welding Material Market in the form of joint pool or weld pool provides immense strength to the structure. Usually, the point of joint is stronger than the base materials or metals. The welding process requires a shield that protects the filler materials or melted metal parts from oxidation and contamination. The welding process involves various energy sources such as gas flame, electric arc, laser beam, friction, or ultrasound. The process and material of welding determine the cost, from inexpensive arc and oxy-fuel welding to the highly expensive laser and electron beam welding. The most common types of Welding Materials are electrodes, fillers, fluxes, wires, and gases, among others.
The advantage of Welding Materials is the strength and durability they offer to the structure. The welded parts exhibit excellent strength, high design flexibility, and longevity, which makes welding materials applicable in almost all major industries, including transportation, automotive, building & construction, marine, power, and oil & gas. The demand for high strength, lightweight, and stiff structures in the aerospace, automotive, and marine industries is increasing with the development of new designs and changing environmental standards regarding emissions. Global automotive production reached 97.31 million units in 2017, an increase of 2.4% as compared to 2016. This trend is expected to continue during the forecast period due to the steady rise in demand for both commercial vehicles and passenger cars. Construction activities across the world are increasing with a significant rise in investments in infrastructure development in almost all the major developing regions such as Asia-Pacific, North Africa, Latin America, and the Middle East. The major coastal military powers, namely, the U.S., Russia, China, and India, are investing major shares of their GDP in the defense and marine sectors and rapidly adopting modern technologies in the development of highly engineered structures. This is expected to fuel the demand for welding materials used in the manufacturing of these structures. However, the capital-intensive nature of the metal industry, need for skilled labor, and high risk of accidents is likely to diminish the growth of this market in the coming years.
Try Sample Report @ https://www.marketresearchfuture.com/sample_request/1726
Regional Analysis
The Global Welding Materials Market has been segmented into five key regions— North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Asia-Pacific is expected to be the largest market in terms of market size. This region accounted for over 40% of the global market in 2017. The primary factor driving the growth of this regional market is the increasing demand for welding materials in major end-use industries such as automotive, construction, and marine. The governments of developing countries in this region, such as India, China, and South Korea, are focusing on infrastructure development and integrating their regional transportation systems. This is likely to boost the demand for Welding Materials in Asia-Pacific.
The North American market was the second-largest, in terms of market size, in 2017, with the U.S. as the largest contributor to the growth of the market. This growth can be attributed to increasing reconstruction activities and the rising demand for Welding Materials in the marine industry. Europe is another significant region in the Global Welding Materials Market. The major markets in this region are the U.K., France, Germany, Italy, and Spain. The aerospace and automotive industries in Europe are the major consumers of Welding Materials, which is favoring the growth of the regional market. Latin America and the Middle East & Arica held a small share of the pie in 2017, yet, in the years to follow, these markets are likely to witness considerable growth due to rapid industrialization in the regions.
Segmentation
The Global Welding Materials Market has been segmented on the basis of Type, Technology, End-Use Industry and Region.
On the Basis of Type, the market has been divided into electrode & filler material, fluxes & wires, gases, and others.
Based on Technology, the market has been classified as arc welding, resistance welding, oxy-fuel welding, and others.
By End-Use Industry, the Global Welding Materials Market has been segmented into automotive and transportation, building and construction, marine, oil & gas, power, and others.
The market has been studied with respect to five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Browse Report Details @ https://www.marketresearchfuture.com/reports/welding-materials-market-1726
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact Info:
Name: Abhishek Savant
Email: sales@marketresearchfuture.com
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune
Phone: +1 646 845 9312
For more information, please visit https://www.marketresearchfuture.com/reports/welding-materials-market-1726
Source: MarketersMedia
Release ID: 379827
