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SHERIDAN, WYOMING, UNITED STATES, October 6, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Welding Consumables Market Analysis: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global welding consumables market size reached a value of US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.3 Billion by 2027, exhibiting a CAGR of 5.58% during 2022-2027. Welding is a method of joining thermoplastics and metals through a coalescence process using flux and filler materials, known as welding consumables. They combine various metals and alloys and function as a deoxidizer to prevent pore formation. Filler metals are generally melted to form a strong joint between two metals, while flux prevents hot metal oxidation during the process. Some of the raw materials utilized in the production of welding consumables include ilmenite, rutile, low alloy, copper, aluminum, and nickel steel. Consequently, they aid in safeguarding the molten weld from contaminants present in the air and prevent the formation of porosity in the weld pool.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Competitive Landscape with Key Players:
Voestalpine AG, Colfax Corporation, The Lincoln Electric Company, Air Liquide, Hyundai Welding Co., Ltd., Obara Corporation, Panasonic Corporation, Illinois Tool Works Inc., Denyo Co., Ltd., Fronius International GmbH, Tianjin Bridge Welding Materials Co., Ltd., Kemppi Oy, Arcon Welding Equipment, etc.
Significant growth in the automotive industry majorly drives the market. This is attributed to the increasing utilization of welding consumables in producing lightweight and high-quality vehicle parts. Moreover, the evolving automobile designs and improvements in the safety features of vehicles require welding consumables is providing a boost to the market growth. Along with this, the rising products deployed for the fabrication of submerged arc welding (SAW) wires, stick electrodes and flux-cored and the increasing utilization of intelligent robots and machines across the energy, transportation, and construction industries, are significantly supporting the market across the globe. Other factors driving the market further include rapid industrialization and continual technological advancements.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/welding-consumables-market
• Stick Electrodes • Solid Wires • Flux Cored Wires • Saw Wires and Fluxes • Others
• Arc Welding • Oxy-Fuel Welding • Resistance Welding • Laser-Beam Welding • Others
• Construction • Automobile • Energy • Shipbuilding • Aerospace • Industrial Equipment • Others
• North America (United States, Canada) • Europe (Germany, France, United Kingdom, Italy, Spain, Others) • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) • Latin America (Brazil, Mexico, Others) • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance 2016-2021 • Market Outlook 2022-2027 • Porter’s Five Forces Analysis • Market Drivers and Success Factors • SWOT Analysis • Value Chain • Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson IMARC Services Private Limited +1 6317911145 email us here
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