Global Welding Materials Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|焊接材料的全球市場(2021年∼2028年) Global Welding Materials Market - 2021-2028|
|出版日期: 2021年07月30日||內容資訊: 英文 180 Pages||
Welding Materials Market Overview
The global welding materials market size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Welding is a process of manufacturing or assembling employed to join metals and thermoplastics types of materials. Generally implemented welding technologies include shielded metal arc welding, gas tungsten arc welding, flux-cored arc welding and submerged arc welding.
A majority of industrial products are manufactured using the welding process. Therefore, the demand for welding equipment to carry out the welding process is rising globally. Though, the use of new materials in various industries has led to innovative welding technologies. Thus, manufacturers are focusing on developing new welding equipment and machine to fulfill the rising demand.
Welding Materials Market Dynamics
Increasing demand from end-use industries is expected to drive the welding materials market
Welding is widely used in the transportation sector to manufacture vehicle body parts. In 2019, the transportation industry constituted 34.42% of the total welding materials market. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the global production of passenger cars amounted to 67.14 million. Technological and innovations in the automotive industry to cater to the growing demand from customers are expected to create a surge in demand for welding materials.
Moreover, welding materials also find applications in the building & construction industry, growing at a steady rate, especially in emerging economies such as India, China, and Brazil. New infrastructural development projects are likely to drive the welding materials market. In addition, the growing demand for welded steel to construct residential and commercial buildings is anticipated to drive the market. As per the Global Construction Perspectives and Oxford Economics, the global construction output is expected to grow by 85% and reach US$ MILLION15.5 trillion by 2030, with three countries - India, China, and the US leading the way and accounting for over 50% of the global growth.
Environmental concerns over the use of welding materials is expected to hinder its market
During the welding process, shielding gases such as carbon dioxide and argon are mainly used as welding materials, resulted in the generation of a large amount of greenhouse gases. Hence, the emission of greenhouse gases has a significant impact on the environment. Moreover, the cryogenic process used to liquefy carbon dioxide and argon demand a large amount of electricity.
According to the International Energy Agency, in 2018, 47% of the global CO2 emissions were caused by industrial processes. Hence, to control this rising emission, several governing bodies and associations are imposing strict rules and regulations to cut gas emissions. For instance, the United States Environmental Protection Agency (EPA) is developing standards to reduce carbon dioxide emissions and other greenhouse gases into the atmosphere through its Clean Air Act.
Welding Materials Market Segment Analysis
Based on technology, welding materials is segmented into arc welding, oxy-fuel welding, resistance welding and others.
The arc welding segment is projected to lead the global welding materials market
Arc welding is a type of welding technology using an electric arc to produce heat to join metals. A power supply creates an electric arc between an electrode and the base material using either alternating (AC) or direct (DC) or currents.
It has the advantage of high heat concentration during the welding process. Its significant advantage is the concentration of heat applied to a large surface that enables better welding by providing a depth of penetration, results in less welding time. Moreover, due to its low cost, it is the most preferred welding technology and can be applied to an extensive metal surface.
Welding Materials Market Geographical Analysis
The Asia Pacific is projected to dominate the welding materials market
The increasing number of new housing units and considerable investments in the infrastructural sector fuel the demand for welding materials in Asia-Pacific. According to the World Bank, Asia-Pacific is the fastest-growing region in terms of population and economic growth. The region has experienced substantial growth in the last decade and accounted for approximately 34% of the global GDP in 2019.
According to the Population Reference Bureau (PRB), China, India, and other emerging countries in the region had a combined population exceeding 4 billion in 2019, becoming an increasingly important driver for global consumption.
Welding Materials Market Competitive Landscape
The welding materials market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include ESAB, Colfax Corporation, Air Liquide S.A., Air Products & Chemicals, Illinois Tool Works, Linde PLC, Lincoln Electric Holdings, Tianjin Bridge Welding Materials Group, and Kobe Steel, HYUNDAI WELDING CO., LTD. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the welding materials market globally.
Overview: ESAB is a welding and cutting equipment manufacturer and consumables, headquartered in Gothenburg, Sweden. The company sales and support are established in 80 countries, and there are 26 manufacturing plants across four continents.
Product Portfolio: The company serves arc welding equipment, filler metals, gas equipment, welding automation & robotics in its welding product line.
The global welding materials market report would provide an access to an approx. 61 market data table, 52 figures and 234 pages.
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