Welding Consumables Market - U.S. Industry Analysis, Growth, Trends, Forecast and Trends 2023
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Market Research has published a new report titled “Welding Consumables
Market - U.S. Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2015 - 2023.” According to the report, the u.s.welding
consumables market was valued at US$2.42 bn in 2014 and is anticipated
to reach US$3.51 bn by 2023, expanding at a CAGR of 4.2% between 2015
and 2023.
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Welding
consumables are materials comprising metals, alloys, and minerals that
are used for fabrication of metal parts. Welding consumables can be
molded into wires for use in welding applications. Aluminum, copper,
rutile, ilmenite, and nickel are some of the key raw materials employed
in the production of welding consumables. Building & construction,
automobile & transportation, marine, power, and oil & gas are
the major end-users of welding consumables in the U.S. Rise in steel
consumption coupled with the revival of the building & construction
industry in the country is anticipated to boost the demand for welding
consumables during the forecast period. Implementation of sustainable
technologies for construction of green buildings in the U.S. is
considered as the primary accelerator for recovery of the industry as
well as increased usage of steel. This factor is estimated to account
for higher consumption of welding consumables.
Flux-cored
wire was the most widely used welding consumable in 2014. The segment
held more than 30% share in the U.S. in 2014. Flux-cored wires are
widely used in the automobile & transportation and building &
construction industries. Solid wires are mostly employed for metal inert
gas welding (MIG) applications in various end-user industries.
Power
sector accounted for more than 15% volume share of the U.S. welding
consumables market in 2014. Rise in power generation activities,
especially from renewable sources such as solar, wind, geothermal,
biomass, landfill gas, municipal solid waste, and hydropower, is
considered as the growth driver of the market. Furthermore, future
expansion targets of power generation projects in key parts of the
country such as California, Arizona, Maryland, and New York are
estimated to provide a broader scope for welding consumables during the
forecast period. However, volatility in prices of raw materials,
especially stainless steel, rutile, aluminum, copper, nickel, and other
metal alloys and minerals, is anticipated to hamper market growth in the
U.S. between 2015 and 2023. On the other hand, technological
advancements in controlling emissions of gaseous fumes from welding
materials are likely to offer significant opportunities for the market
in the near future.
Some
of the leading players in the market include The Lincoln Electric
Company, Air Liquide S.A., The Linde Group, voestalpine Böhler Welding
GmbH, ESAB, Illinois Tool Works Inc., Hyundai Welding Co., Ltd., Kobe
Steel, Ltd., Welding Alloys Group, Kiswel Inc., and Hilarius Haarlem
Holland B.V. (HILCO).
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