The ‘Global Welding Wires Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global welding wires market, assessing the market based on its segments like types, materials, industries, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Welding Wires Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.7%
A welding wire refers to a thin metallic rod that is incinerated or burned to create a heated arc or bend. It is used for attaching metal pieces together or welding by providing the soft wire through pounding or obstructing the use of heat. Various types and categories of welding wires are available commercially. Distinct welding activities and base metal components require a matching welding wire for their suitable application.
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The increasing number of refineries and rising sourcing activities in the oil and gas sector and the growing requirement for water treatment and supply systems are positively influencing the welding wires market demand.
Private construction contractors and various governments are increasingly investing in construction activities amid rapid urbanisation, which is driving the demand for welding wires.
Owing to the rising automotive production and construction activities, the requirement for welding wires for producing high numbers of reliable and precise components as well as high-strength welds that are resistant to cracking and corrosion is increasing.
Oxy fuel welding and arc welding processes require extensive applications of welding wire. Moreover, various welding wires are used for different kinds of welding, hence propelling the welding wires market demand.
Welding Wires Industry Definition and Major Segments
Welding wires, also referred to as consumables, are slender or thin rods made of metal that are fired or burned with the use of electricity to create a heated arc. It is used for attaching and welding different metal parts together. Since welding wires are termed as consumable commodities, they are witnessing high demand across the globe.
Welding wires melt during the welding processes to join two metals and act as a plaster or protective material for protecting the molten weld from various environmental restraints. Since welding wires are gas-protected electrodes, they have excellent mechanical properties, affordability, and arc behaviour.
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Based on types, the global welding wires market can be segmented into:
• Composite Metal-Cored Wires
• Gas-Shielded Flux-Cored Arc Welding Wire
• Solid Gas Metal Arc Welding Wire
On the basis of materials, the market is classified into:
• Stainless Steel
By industries, the market is divided into:
• Building and Construction
• Oil and Gas
The major regional markets of welding wires include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Welding Wires Market Trends
Welding wires are convenient to use and have great strength to attach two metals, which is increasing their popularity in various end-use sectors. Extensive ranges of welding wires are available in the market for different types of welding processes, which is further adding to the welding wires market demand.
Rapid industrialisation and the rising the number of small-scale and mid-scale metal works are bolstering the demand for welding wires. The robust growth of the manufacturing, construction, and defence sectors in developing countries is also expected to fuel the welding wires market growth during the forecast period.
The rising demand for lightweight and superior-performance vehicles with newest safety and competence guidelines is expanding the utilisation of welding as a production and fabrication process, hence propelling the growth of the welding wires market.
The growing usage of welding wires in shipbuilding, engineering, and construction of building structures is expected to aid the market growth. Moreover, market players are investing in research activities to launch new products and drive product quality improvement by lessening complications of welding procedures.
Key Market Players
The major players in the global welding wires market are:
• Lincoln Electric Holdings, Inc.
• Changzhou Sanzhong Welding Materials Co., Ltd
• Gedik Welding Inc.
• Berkenhoff GmbH
• ESAB Corporation
• Zika Industries Ltd
• Chosun Welding Co., Ltd.
• Rywal-RHC Group
• BS Stainless Limited
• Novametal SA
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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