Welding Consumables Market Size, Share, Growth Report 2032

Welding Consumables Market: Industry Perspective

The global welding consumables market size was worth around USD 17.46 billion in 2023 and is predicted to grow to around USD 28.27 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.50% between 2024 and 2032.

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The report covers forecasts and analyses for the welding consumables market on a global and regional level. The study provides historic data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Welding Consumables Market: Overview

Welding is an assembling and manufacturing process that joins materials such as thermoplastics and metals. Thermoplastics and metals are joined by fusion of intersecting materials. Welding is evolving widely in today’s era, commonly used welding technologies are submerged arc welding, flux-cored arc welding, gas metal arc welding, gas tungsten arc welding, and shielded metal arc welding. Welding consumables are used during the process and its usage depends on the technology. Commonly used consumables are SAW fluxes and wires, flux cored wires, solid wires, and stick electrodes. Solid wires and stick electrodes are consumed during the welding process. Whereas gases and flux are deployed to prevent base material oxidation. Consumables have applications in various end-user industries. However, different welding technologies are used as per the need of end-users.

The study includes drivers and restraints for the welding consumables market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the welding consumables market on a global level.

This report offers a comprehensive analysis of global welding consumables market along with, market trends, drivers, and restraints of the welding consumables market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, and the secondary and primary research teams of industry experts.

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Welding Consumables Market: Growth Drivers

Rapid industrialization and urbanization in developing economies worldwide have given rise to multiple numbers of small and large-scale industries, boosting the growth of the market. The construction sector is booming at a robust growth, primarily in developing countries such as India and China. Advanced welding automation technology in fabrication has fueled welding consumables market. The industry offers multiple opportunities in terms of profitability and growth for nascent organizations, resulting in expansion and gain a strong foothold in global welding consumables market. Further, lack of skilled workers in emerging regions is projected to boost the industry worldwide.

Flourishing construction and the automobile industry is preliminary driving welding consumables demand. Moreover, increasing applications in diverse end-use industries implementing various welding techniques, usage in maintenance & repair operations, rising investment in energy infrastructure will boost the product penetration. Additionally, foreign direct investments in wind and thermal sectors along with government investments in power generation industry will propel market growth. However, customer price sensitivity, stagnant growth of shipbuilding and aerospace industries, environmental impact, and slow adoption rate of advanced welding technologies may hinder market growth in the forecast period.

Welding Consumables Market: Segmentation

The study provides a decisive view of the welding consumables market by segmenting the market based on type, technique, end-use industry, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023.

Based on the type, the welding consumables market is segmented as SAW wires, fluxes, flux cored wires, solid wires, and stick electrodes. Stick electrodes account for highest revenue share owing to its wide-scale usage on dirty or rusty surfaces.

Based on technique, the welding consumables market is segmented as arc welding, resistance welding, Oxyfuel welding, and ultrasonic welding. Arc welding holds maximum share in the market owing to its benefits such as corrosion resistance, metal deposition uniformity, and high heat concentration.

Based on the end-use industry, the welding consumables market is segmented as is oil & gas, power generation, marine, construction, automobile, and aerospace & defense. The construction industry is projected to gain traction in the market during the forecast year. Welding consumables are widely used in infrastructure components fabrication such as commercial complexes, residential buildings, tunnels, railways, and bridges.

Welding Consumables Market: Report Scope

Welding Consumables Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. Each region has been further segmented into countries such as the U.S., Canada, Mexico, UK, France, Germany, Italy, Poland, Russia, China, India, Japan, India, Korea, Indonesia, Malaysia, Thailand, Brazil, Argentina, Saudi Arabia, UAE, South Africa, Kuwait, and Oman.

The Asia Pacific will account for maximum share of global welding consumables market till 2032 with China being a major consumer of welding materials in the region. Growing investments by automobile manufacturers in the region coupled with increasing demand for welding materials in the construction industry will maintain dominance of the region in the market. Germany is recognized globally for its leading automobile manufacturers such as Audi, BMW, Volkswagen, and other luxury cars. These high-grade vehicle bodies are fabricated by advanced arc welding technologies, thus increasing the demand for welding consumables in Europe.

Welding Consumables Market: Competitive Analysis

The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global welding consumables market such as:

• Arcon Welding Equipment
• Kemppi Oy
• Tianjin Bridge Welding Materials Co. Ltd.
• Fronius International GmbH
• Denyo Co. Ltd
• Illinois Tool Works Inc
• Panasonic Corporation
• Obara Corporation
• Hyundai Welding Co. Ltd
• Air Liquide
• The Lincoln Electric Company
• Colfax Corporation
• Voestalpine AG
• Nikko Steel
• PT. Yontomo Sukses Abadi
• PT. Cahaya Las Mandiri
• P.T. Intan Pertiwi Industri
• Alfa Metalindo Indonesia
• The Linde Group Inc
• Kobe Steel Ltd.

The global welding consumables market market is segmented as follows:

By Type 

• SAW wires
• Fluxes
• Flux cored wires
• Solid wires
• Stick electrodes

By Technique 

• Arc welding
• Resistance welding
• Oxyfuel welding
• Ultrasonic welding

By End-Use Industry 

• Oil & Gas
• Power generation
• Marine
• Construction
• Automobile
• Aerospace & Defense

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa