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Global Welding Consumables Market Size, Share, Forecast: By Product: Stick Electrodes, Solid Wires, Flux Cored Wires, SAW Wires and Fluxes, Others; By Welding Technique: Arc Welding, Resistance Welding, Oxyfuel Welding, Ultrasonic Welding, Others; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Welding Consumables Market Outlook
The global welding consumables market stood at USD 17.26 billion in 2023. The market is further projected to grow in the forecast period of 2024-2032 at a CAGR of 5.8% to reach USD 28.68 billion by 2032.
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Based on the product, the stick electrodes are the leading category of welding consumables across the globe. These electrodes are primarily designed for low and mild alloy steel welding. On the basis of the welding techniques, the arc welding accounted for the majority of the total market share in 2020. Based on the end-use industries, the construction sector exhibits a clear dominance in the market. Region-wise, the Asia Pacific is estimated to be the largest welding consumables market across the globe. Other major markets include North America, Europe, and Latin America.
Market Segmentation
Welding consumables are the flux and filler metals that are utilised in the process of welding. In this process, filler metals are melted to form a strong joint between two metals, whereas the flux helps in prevents the oxidation of hot metals. Raw materials used in the formation of welding consumables include copper, nickel, ilmenite, rutile, and aluminium. In addition, they ensure cost-effective welding, prevent the formation of porosity in the weld pool, and aid in safeguarding the molten weld from contaminants present in the air. Consequently, they are widely employed in the automobile, construction, shipbuilding, energy, and aerospace industries.
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The major products in the global welding consumables market are:
- Stick Electrodes
- Solid Wires
- Flux Cored Wires
- SAW Wires and Fluxes
- Others
The market can be broadly segregated, on the basis of its welding technique segment, into:
- Arc
- Oxyfuel
- Resistance
- Ultrasonic
- Others
Based on the end-use industries, the global welding consumables market is divided into:
- Construction
- Automobile
- Energy
- Shipbuilding
- Aerospace
- Industrial Equipment
- Others
The EMR report looks into the regional markets in the global welding consumables market like North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.
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Market Analysis
Welding consumables are extensively used in the manufacturing of high-quality and lightweight vehicle parts. This can be accredited to the increasing sales of automobiles, continuous improvements in designs, and advancements in the safety features of vehicles. Also, the rise in development and housing projects has further provided a thrust to the construction industry in developing economies such as China, India, and South Africa, thereby bolstering the growth of the welding consumables market. Rapid urbanisation, increasing foreign direct investments (FDI), and industrialisation are further spurring the demand for the product across the globe. Besides, innovations and advancements in welding technology to develop techniques for more extensive applications are anticipated to create numerous opportunities for market players over the forecast period.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global welding consumables market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Voestalpine Böhler Welding GmbH
- Colfax Corporation
- Air Liquide
- The Lincoln Electric Company
- Hyundai Welding Co., Ltd.
- Obara Corp
- Panasonic Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Welding Technique |
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| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Welding Consumables Market Analysis
8.1 Key Industry Highlights
8.2 Global Welding Consumables Historical Market (2018-2023)
8.3 Global Welding Consumables Market Forecast (2024-2032)
8.4 Global Welding Consumables Market by Product
8.4.1 Stick Electrodes
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Solid Wires
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Flux Cored Wires
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 SAW Wires and Fluxes
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Welding Consumables Market by Welding Technique
8.5.1 Arc Welding
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Resistance Welding
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Oxyfuel Welding
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Ultrasonic Welding
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Welding Consumables Market by End Use
8.6.1 Construction
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Automobile
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Energy
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Shipbuilding
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Aerospace
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Industrial Equipment
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Welding Consumables Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Welding Consumables Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Welding Consumables Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Welding Consumables Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Welding Consumables Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Welding Consumables Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Voestalpine Böhler Welding GmbH
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Colfax Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Air Liquide
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 The Lincoln Electric Company
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Hyundai Welding Co., Ltd.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Obara Corp
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Panasonic Corporation
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Welding Consumables Market: Key Industry Highlights, 2018 and 2032
2. Global Welding Consumables Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Welding Consumables Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Welding Consumables Historical Market: Breakup by Welding Technique (USD Billion), 2018-2023
5. Global Welding Consumables Market Forecast: Breakup by Welding Technique (USD Billion), 2024-2032
6. Global Welding Consumables Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Welding Consumables Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Welding Consumables Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Welding Consumables Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Welding Consumables Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Welding Consumables Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Welding Consumables Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Welding Consumables Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Welding Consumables Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Welding Consumables Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Welding Consumables Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Welding Consumables Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Welding Consumables Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Welding Consumables Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Welding Consumables Market Structure
Key Questions Answered in the Report
The global welding consumables market reached a value of USD 17.26 billion in 2023.
The market is expected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to observe a healthy growth in the forecast period of 2024-2032 to reach a value of about USD 28.68 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, expanding construction industry, and the growing urbanisation.
Innovations and advancements in welding technology and increasing automobiles sales are expected to be key trends guiding the growth of the market.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
Stick electrodes, solid wires, flux cored wires, and SAW wires and fluxes, among others are the various products in the market.
Arc welding, resistance welding, oxyfuel welding, and ultrasonic welding, among others, are the leading welding techniques in the market.
The various end uses in the market are construction, automobile, energy, shipbuilding, aerospace, and industrial equipment, among others.
The leading players in the global welding consumables market are Voestalpine Böhler Welding GmbH, Colfax Corporation, Air Liquide, The Lincoln Electric Company, Hyundai Welding Co., Ltd., Obara Corp, and Panasonic Corporation, among others.
Analyst Review
The global welding consumables market attained a value of USD 17.26 billion in 2023 driven by the growth in the construction and automobile industries. Aided by the rising innovations and advancements, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.8%. The industry is projected to reach USD 28.68 billion by 2032.
EMR's meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its product type, the global welding consumables market is dominated by stick electrodes. By welding technique, arc welding leads the industry. On the basis of end uses, the construction sector accounts for the largest share in the global industry. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include Voestalpine Böhler Welding GmbH, Colfax Corporation, Air Liquide, The Lincoln Electric Company, Hyundai Welding Co., Ltd., Obara Corp, and Panasonic Corporation, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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