Welding is one of the important fabrications and sculpturing processes which is carried out to join metals and thermoplastic materials. Electrodes, fillers, wires, fluxes, gases and others are some common types of welding materials. As per the report published by Market Research Future (MRFR), the global welding materials market is anticipated to expand at the notable rate during the forecast period of 2018-2023.
Market Drivers and Restraints:
The process of welding offers strength and durability to the metal or thermoplastic structure. Hence, it is extensively used in the construction and automotive industry. The rapid increase in construction activities in order to carry out infrastructural developments in various region of the world is projecting to propel the growth of the global welding materials market. Increasing demand for automotive is inducing high need for welding materials in the automotive industry, which in turn is fueling the expansion of the global welding materials market.
Increasing demand for lightweight, durable and stiff structures in the marine and aerospace industry is positively influencing the growth of the global welding materials market. However, high risk of on-site accidents and need for skilled labors are likely to hamper the growth of the global welding materials market during the forecast period.
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The global welding materials market is geographically segmented into five major regions such as North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. The welding materials market in the Asia Pacific region accounts for the major share in the global welding materials market owing to the high demand for welding materials in various end-use industries such as automotive, construction and marine industry. Rapid infrastructural development and government initiative to improve the transportation system are fueling the growth of welding materials market in this region.
The prominent players profiled by MRFR in the report on the global welding materials market are Ador Welding Ltd. (India), Air Liquide (France), Air Products and Chemicals, Inc. (the U.S.), Colfax Corporation (the U.S.), Illinois Tool Works Inc. (the U.S.), The Linde Group (Germany), Praxair Technology, Inc. (the U.S.), The Lincoln Electric Company (the U.S.), Tianjin Bridge Welding Materials Group Co., Ltd. (China), and Gedik Welding (India).
Market Key Insight And COPVID-19 IMPACT ANALYSIS @
The global welding materials market has been segmented on the basis of type, technology and end-use industry. Based on type, the welding material market is segmented into electrode and filler material, fluxes and wires, gases, and others. The electrode and filler material segment is anticipated to capture a major share in the global welding materials market.
Based on technology, the welding materials market is segmented into arc welding, resistance welding, oxy-fuel welding and others. Among these, the arc welding segment is anticipated to account for the largest share in the global welding material market by the end of the forecast period.
Based on end-use industry, the welding materials market is segmented into automotive and transport, building and construction, marine, oil and gas, power and others.
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