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Specialty Welding Consumables Market: Overview

Welding is a manufacturing or assembling process used to join materials such as metals and thermoplastics. Metals and thermoplastics are joined together by fusion of the intersecting materials. Welding is an evolving technology. Commonly implemented welding technologies include shielded metal arc welding (SMAW), gas tungsten arc welding (GTAW), gas metal arc welding (GMAW), flux-cored arc welding (FCAW), and submerged arc welding (SAW). Materials used in the welding process are collectively termed welding consumables. Usage of consumables depends on the welding technology implemented. However, commonly used welding consumables are stick electrodes, solid wires, flux-cored wires, and SAW wires and fluxes. Stick electrodes and filler materials such as solid wires are used during the welding process, while flux and welding gases are employed to prevent the oxidation of base materials. Welding consumables are used in various applications in end-user industries. Different types of welding technologies are implemented according to the needs of end-users. The usage of products depends upon the nature of the application.   

Specialty welding consumables are welding consumables made of expensive nickel, copper, and tungsten as opposed to cheaper alternatives made of mild steel. Specialty welding consumables help improve productivity and offer superior weld quality. This ultimately reduces repair and maintenance costs. Specialty welding consumables are used to support many welding applications, especially in diverse industrial applications, wherein weld quality is critical.

Specialty Welding Consumables Market: Key Segments

In terms of product, the specialty welding consumables market can be classified into stick electrode, solid wires, flux-cored wires, saw wires & fluxes, and others. Stick electrodes was the major segment of the specialty welding consumables market in 2017. It accounted for more than 50% share in 2017. This can be ascribed to the low cost and high usage of the manual welding process. However, the welding industry has been experiencing a shift from electrodes toward solid wires and flux-cored wires owing to their higher production efficiency. Wires and fluxes are gaining popularity over electrodes. Demand for specialty welding consumables in the welding industry is driven by factors such as less wastage, suitability for automatic welding systems, higher productivity, and wide usage among different welding technologies. Flux-cored wires and SAW wires and fluxes are anticipated to be among the rapidly growing product segments during the forecast period. 

Based on application, the specialty welding consumables market can be divided into automobile & transportation, building & construction, marine, power, oil & gas, and others (repair & maintenance). Growth in end-user industries is likely to augment the demand for welding technologies. Expansion in the automobile & transportation sector is anticipated to be a major factor driving the specialty welding consumables market. Production of cars is set to outpace sales during the forecast period, as global carmakers are strengthening domestic output. The specialty welding consumables market is expected to benefit from this, as automotive is one of the key end-user industries of the market. Various materials such as steel, glass, rubber, copper, aluminum, and plastics are used in different parts of a vehicle. Metals employed in the manufacture of automobiles are joined through different methods. These include temporary methods such as bolts, screws, and rivets, and permanent methods such as welding. Automotive & transportation was the prominent end-user segment of the specialty welding consumables market in 2017.

Specialty Welding Consumables Market: Regional Outlook

Based on region, Asia Pacific held significant share of the specialty welding consumables market in terms of value in 2017. This can be ascribed to the large population and growth in construction, automobile, steel, and oil & gas industries in the region. Asia Pacific is expected to dominate the global specialty welding consumables market throughout the forecast period. Europe and North America are mature regions of the specialty welding consumables market. The specialty welding consumables market in these regions is anticipated to expand at a sluggish pace during the forecast period.

Specialty Welding Consumables Market: Key Players

Leading companies in the global specialty welding consumables market include Lincoln Electric Holdings, ESAB Group Holdings, Illinois Tool Works, Air Liquide Welding, Atlantic China, Bohler, Hyundai Welding, Kiswel, and Tianjin Bridge Welding Materials.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Specialty Welding Consumables Market

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