The qualitative analysis determines the attractiveness of the market and provides critical insights on the potential and niche segments that display favorable conditions for rapid growth
Progressive Markets added a detailed report titled Welding Consumables Market- Size, Trend, Share, Opportunity Analysis & Forecast, 2015-2023. According to the report, the global welding consumables market is expected to grow at a considerable CAGR during the analysis period.
The report is a compilation of crucial data acquired from in-depth analysis of the market. Vital statistics, figures, and tables included in the report add credibility to the information presented.
Welding is a manufacturing process, wherein similar metals or thermoplastics are joined permanently by application of suitable levels of heat and/or pressure. Usually, the filler material is added at the interface to create a pool of molten metal, which solidifies upon cooling and creates a strong joint.
The filler materials used during the process of coalescence include graphite iron and vanadium forged steel. In addition to increased strength, these materials also protect the molten weld from atmospheric contaminants.
Arc welding and oxyfuel welding processes fuel the demand for welding consumables.
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Drivers & Restraints:
Several factors contribute to the growth and development of the welding consumables industry. The rapid urbanization and industrialization in emerging economies across the globe have led to an unprecedented rise in the number of small, medium, and large-scale industries, thus driving the growth of the market.
The construction sector has experienced robust growth, especially in the developing countries such as China and India. Applications such as fabrication demand advanced welding automation technology which propels the welding consumables market's growth.
Lack of skilled labor in the emerging regions of the Asia-Pacific market is expected to boost the growth and expansion of the industry, worldwide. The market offers numerous opportunities, in terms of growth and profitability, for the entry-level organizations to set a strong foothold and expand their reach in the global welding consumables market.
The welding consumables market is analyzed across three major segments- type, application, and geography. The types of welding consumables used to join metals include stick electrodes, flux-cored wires, solid wires, SAW wires and fluxes, and gas.
These consumables find applications in various sectors, ranging from building and construction, marine, and automation and transportation, among others. Based on the geographical segmentation, the report determines the market potential across the globe in the regions of North America, Asia-Pacific, LAMEA, and Europe.
The report provides the welding consumables market share analysis (2014-2025) of each of the aforesaid market segments.
The welding consumables industry report profiles the leading players in the welding consumables market and includes information such as the company overview, financials and business segments, and the recent developments made by these players. The prominent players which account for majority of the welding consumables market share include Illinois Tools Works (U.S.), The Linde Group (Germany), Tianjin Bridge Welding Materials Group Co., Ltd. (China), Colfax Corporation (U.S.), Chemicals, Inc. (U.S.), Air Liquide S.A. (France), Lincoln Electric Holdings, Inc. (U.S.), and Air Products and Praxair Incorporated (U.S.). Information such as the mergers, acquisitions, and partnerships between the market players and the winning strategies adopted by them aid in gauging the level of competition and factors that lead to the growth of the welding consumables market size.
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Key Benefits of the report:
An in-depth quantitative analysis of the current scenario of the global market for the duration 2015-2023, is a part of the welding consumables market survey. Detailed information about the top impacting factors, such as the drivers, restraints, and opportunities, and the current and emerging trends provide a better understanding of the dynamics of the welding consumables market.
Porter's Five Forces Model studies the influence of several factors on the market dynamics and assists the market players in formulating key business strategies. The welding consumables market forecast is based on the events and trends observed in the industry in the recent past.
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