Welding Consumables Market
Welding Consumables Market (Product: Stick Electrodes, Solid Wires, Flux-cored Wires, SAW Wires and Fluxes; and End-user: Automobiles & Transportation, Building & Construction, Marine Applications, Power sector, and Oil & Gas) - U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Welding Consumables Market: Overview
- The U.S. welding consumables market is primarily rising on the back of huge demand for steel from the building & construction sector. As per statutes laid down by the American Iron and Steel Institute, steel is a sustainable material for the construction of bridges, highways, and residential buildings.
- The welding consumables market in the U.S. is growing at an exponential rate as a result of growth in many end-use industries such as construction, manufacturing etc. Government initiatives, along with many companies providing the platform for improving the welder’s knowledge regarding welding processes, latest technologies etc. are also anticipated to drive the growth of the welding consumables market.
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What are Key Growth Drivers of U.S. Welding Consumables Market?
- Rapid expansion of end-use industries such as construction, manufacturing, automotive & transportation, oil & gas, and power generation is anticipated to drive the welding consumables market. Increase in construction of buildings with unique designs coupled with new construction techniques is anticipated to boost the welding consumables market.
- Evolving automobile designs coupled with the addition of new safety features in them is offering great opportunity to new welding techniques, thereby fueling the welding consumables market.
- Consumption of steel has been the major driving factor of the U.S. economy. After trade restrictions were imposed in the U.S., there was a meaningful decline observed in steel imports to lowest level since 2011, this helped in increasing the domestic production, thereby benefitting to U.S. steel mills. Construction and automotive industries are the top consumers of steel in the U.S.
- The per capita consumption of steel has increased gradually in the country over the years due to implementation of sustainable green technologies, especially in the key downstream markets of steel. Building & construction, automotive, energy, and equipment & machinery were some of the major downstream markets that were revived owing to the implementation of green technology.
- Thus, growth in steel consumption is estimated to create a significant demand for welding consumables during the forecast period. Welding consumables such as flux-cored wires, stick electrodes, and SAW flux and wires are key materials required for fabrication of steel components. One ton of steel approximately requires 5 kg of welding materials; hence, rise in steel usage is projected to positively impact the demand for welding consumables.
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What are Key Challenges for U.S. Welding Consumables Market?
- Increasing depletion of renewable sources for power generation has led tapping into renewable sources.
- Industrial units that use renewable sources such as hydropower and geothermal for power generation heavily rely on welding consumables through various operational stages. Welding consumables are extensively used for joining materials for the fabrication of structural components and machinery in the power sector.
- However, heavy dependence on imports for raw materials of welding consumables that are subject to availability uncertainties and price fluctuations is hampering the growth of U.S. welding consumables market to some extent.
Lucrative Opportunities for Players in U.S. Welding Consumables Market
- Emergence of sustainable and high performance technological solutions for welding consumables and processes is estimated to provide ample growth opportunities to the welding consumables market in the U.S. during the forecast period
- Currently, there is rising need for cost-effective welding applications in key end-user industries such as automobile & transportation, building & construction, and power sectors, especially in developed economies such as the U.S. Consumption of welding consumables is estimated to be high in assembling and manufacture of boilers, pressure vessels, offshore rigs, and process piping in the industrial construction sector.
- Flux-cored wires are the most effective consumables for welding, as they are characterized by high deposition rates, flexibility, corrosion and temperature resistance, and good surface quality.
- Manufacturers of welding consumables such as EWM Hightec Welding GmbH have developed sustainable welding processes that minimize the negative impact on environment and provide high performance in terms of cost, energy, and utility of resources. The company invented a welding process named forceArc that lowers welding fume emissions; electricity, material, and labor costs; and process time. The technology is exclusively applicable in automobile & transportation, and power generation.
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Host of Applications of Welding Consumables Make Building & Construction Sector Significant
- Welding consumables are employed in critical maintenance applications in the building & construction industry. It offers superior physical characteristics vis-à-vis other methods of joining such as riveting. The welding process also produces stronger joints, making it applicable to critical operations in the building & construction industry.
- Rising consumption of steel coupled with the revival of the building & construction industry in the U.S. is expected to boost the demand for welding consumables in the country by 2027
- Kiswel Inc. manufactures self-shielded and gas-shielded flux-cored wires and hardfacing welding wires for commercial construction such as bridges and highways.
- Welding is used for fabrication and assembling of engine parts, fuel injectors, transmission parts, fuel filters, alternators, solenoids, and air conditioning equipment in the automobile & transportation industry
- Welding provides increased torsional stiffness, improved structural performance in vehicles, design flexibility, and less thermal distortion. This leads to improved high-speed automated processing. Welding also improves assembly accuracy and reduces the weight of the vehicle.
- The Lincoln Electric Company manufactures and supplies welding consumables under its key brand Primealloy for the automobile & transportation industry in the U.S. Key applications of these consumables in the automobile & transportation sector include design & fabrication of exhaust system components and catalytic converters.
Leading Players in U.S. Welding Consumables Market
- Top companies operating in the U.S. welding consumables market are
- The Lincoln Electric Company
- Illinois Tool Works Inc.
- oestalpine Böhler Welding GmbH
- Some other companies in the U.S. welding consumables market are
- Kobe Steel Ltd.
- The Linde Group
- Kiswel Inc
- Welding Alloys Group
- Air Liquide S.A.
- Market players are developing new products to widen their consumer base. This is likely to intensify the competition in the U.S. welding consumables market in the next few years.
U.S. Welding Consumables Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the U.S. welding consumables market to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for growth of the U.S. welding consumables market. The study also identifies growth avenues for stakeholders. The report provides insightful information about how the U.S. welding consumables market is likely to expand during the forecast period of 2019 to 2027.
The report offers intricate dynamics about different aspects of the U.S. welding consumables market that aid companies operating in the market in making strategic decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure the growth of the construction industry with respect to the U.S. welding consumables market during the forecast period. It also includes a key indicator assessment to highlight growth prospects of the U.S. welding consumables market and estimates statistics related to growth of the market in terms of volume (tons) and value (US$ Mn).
This study covers a detailed segmentation of the U.S. welding consumables market, along with key information and a competition landscape. The report mentions company profiles of key players operating in the U.S. welding consumables market, wherein various developments and expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on U.S. Welding Consumables Market
The report provides detailed information about the U.S. welding consumables market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the U.S. welding consumables market that would help them design successful strategies and make target-driven decisions.
- Which product type segment of the U.S. welding consumables market would emerge as a leading revenue generator during the forecast period?
- What would be the Y-o-Y growth rate of the U.S. welding consumables market between 2019 and 2027?
- What are winning imperatives of frontrunners in the U.S. welding consumables market?
- Which end-use industry segment is expected to generate maximum revenue in the U.S. market for welding consumables during the forecast period?
Research Methodology – U.S. Welding Consumables Market
The research methodology adopted by analysts for compiling the report on the U.S. welding consumables market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the U.S. welding consumables market.
For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the U.S. welding consumables market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the U.S. welding consumables market.
U.S. Welding Consumables Market – Segmentation
TMR’s research study segments the U.S. welding consumables market in terms of product type, welding technique, and end-use industry. This report presents extensive market dynamics and growth trends associated with different segments and explains how they are influencing the growth of the U.S. welding consumables market.
SAW Wires and Fluxes
Others (GTAW Consumables, TIG consumables etc.)
Others (Friction stir, electron beam etc.)
Automotive & Transportation
Oil & Gas
Others (Marine, Power Generation, Maintenance & Repair)