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The U.S. Welding Consumables Market: Manufacturers to Increase Production to Meet Unmet Needs of End Users, finds TMR

Posted on Dec 16, 2016

The market for welding consumables in the is highly fragmented with a number of players providing similar products at competitive prices, reports Transparency Market Research (TMR) in a new research report. Several leading producers are selling their products in emerging economies at low prices. At present, key players in the U.S. are investing in the development and innovation of new grades of welding consumables to establish a leading position and compete in the market. They are also entering into strategic acquisitions and mergers to gain a competitive advantage over other companies. The prime companies operating in the market are Hilarius Haarlem Holland B.V. (HILCO), Kiswel Inc., Welding Alloys Group, Kobe Steel Ltd., Hyundai Welding Co. Ltd., Illinois Tool Works Inc., ESAB, voestalpine Böhler Welding GmbH, The Linde Group, Air Liquide S.A., and The Lincoln Electric Company.

The U.S. welding consumables market is projected to expand at a 4.2% CAGR from 2015 to 2023. In 2014, the market was worth US$2.42 bn and is anticipated to stand at US$3.51 bn by the end of 2023.

Building and Construction and Power Industries to Generate Maximum Revenue

In the U.S., the building and construction industry accounted for a share of over 20% in the welding consumables market in 2014. The growth of the buildings and construction segment in the welding consumables market in the U.S. can be attributed to the burgeoning infrastructure development in the country and growing construction of commercial complexes, residential buildings, tunnels, railways, and bridges. Welding consumables are employed as fabricating agents in these projects. The power sector held a share of over 15% in the U.S. welding consumables market in 2014.  The primary driver of this segment is the growing power generation activities in the country. The use of renewable sources such as hydropower, municipal solid waste, landfill gas, biomass, geothermal, wind, and solar for producing power is further expected to propel the demand for welding consumables in the country. However, other end-use segments such as aerospace and repair and maintenance are also expected to provide fruitful growth opportunities to manufacturers of welding consumables in the country.

Based on product, the U.S. market for welding consumables was dominated by flux-cored wires in 2014 owing to factors such as strong weld capacity, ability to withstand extreme weather conditions, and high rates of deposition. This segment accounted for over 30% of the U.S. welding consumables market. Moreover, the flux-core wires segment is also projected to exhibit strong growth over the coming years.

Increasing Demand for Welding Consumables from Automobile Industry to Bode Well for Growth

One of the primary consumer of welding consumables is also the oil and gas industry in the U.S. The demand for welding consumables in the region is anticipated to rise substantially over the forthcoming years owing to the rehabilitation of existing oil and gas infrastructure and the construction of new oil and gas pipelines and manufacturing units. As a result of the rising safety orientation of the oil and gas industry, the market is expected to witness extensive growth. In the near future, the deployment of welding consumables is expected to rise due to concerns related to the replacement of old oil and gas pipelines and plant facilities, and to replace it with new and more advanced ones. At present, welding manufacturers offer a wide range of consumables and welding equipment designed specifically for the oil & gas industry. However, the market might face challenges due to the shortage of skilled workers in the industrial sector.

This review is based on a Transparency Market Research report titled, “Welding Consumables Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015–2023.”

The report segments the welding consumables market in the U.S. as follows:

Welding Consumables Market - Product Analysis

  • Stick electrodes
  • Solid wires
  • Flux-cored wires
  • SAW wires and fluxes
  • Others (including rods, etc.)

Welding Consumables Market - End-user Analysis

  • Automobile & transportation
  • Building & construction
  • Marine
  • Power
  • Oil & gas
  • Others (including repair & maintenance, etc.)

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