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Report Overview
The global welding wires market value is expected to grow at a CAGR of 4.7% during 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Welding Wires Market Growth
Welding wires come in several classifications and types. Different welding jobs and base metal materials warrant an appropriate corresponding welding wire for the application. Applications in engineering, shipbuilding and the creation of building structures are likely to boost the global welding wires market demand. Asia, North America, and Europe are likely to be key markets.
The welding wires market dynamics and trends are driven due to demand in the shipbuilding, automotive, and engineering sectors. Welding processes, including Stick, TIG, FCAW, and MIG, use electricity to generate an arc that melts the base metal and filler wire, creating a strong bond.
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Global Welding Wires Market Analysis
MIG welding wire is chiefly composed of base metal. It may include titanium, manganese, and silicon. The wire is generally coated in copper which, apart from helping decrease oxidisation during welding, may prevent rusting also. Applications of MIG welding include uses in aerospace, manufacturing, construction, custom fabrication, shipbuilding, automotive, and several other industries. Such applications are likely to boost the global welding wires industry growth.
The filler metal generally used for flux-cored wire is mild steel. However, other components may be included. Nickel is a commonly used alloy for such type of wire. Apart from filler metal, it includes a combination of fluxes, deoxidizers, metal powders, and other alloys.
Welding Wires Industry Outlook
According to the Office for National Statistics, in 2022, the total value of new work output in Great Britain's construction sector reached USD 169,765.80 million, reflecting a significant 15.8% increase from 2021. The private sector drove this growth with a 16.8% rise, contributing an additional USD 17,996.55 million, bringing its total to USD 124,881.47 million. The public sector also saw a 13.1% increase, adding USD 5,194.45 million to reach USD 44,939.42 million. New housing construction experienced the highest growth rate at 22.9%, with an additional USD 13,439.01 million, totalling USD 72,236.21 million. Within this sector, public housing projects grew by 23.3% to USD 7,912.48 million, while private housing rose by 22.8%, adding USD 11,944.05 million to reach USD 64,317.11 million. Increased infrastructure projects drive the demand for welding wires, essential in construction applications for joining metals, further resulting in driving the growth of the welding wires market revenue.
According to BP, in 2021, North America was the top global oil producer with a total output of 1,074.7 million tonnes, reflecting an annual growth rate of 1.8% from 2020. The United States was a major contributor, producing 711.1 million tonnes, which accounted for 16.8% of the global total. Mexico saw a 1.7% increase from 2020, reaching 96.5 million tonnes, while Canada produced 267.1 million tonnes, marking a 6.3% annual growth. In the CIS region, total oil production rose by 2.4% to 674.3 million tonnes. The Russian Federation led with 536.4 million tonnes, growing at an annual rate of 2.6%. Kazakhstan's production increased to 86.0 million tonnes, Azerbaijan produced 35.1 million tonnes, and Turkmenistan and Uzbekistan maintained stable outputs of 12.0 million tonnes and 2.7 million tonnes, respectively. The increase in oil production necessitates the extensive use of welding wires for pipeline construction, maintenance, and equipment fabrication, thereby boosting the welding wires industry revenue.
Increasing industrialisation and infrastructure development drive strong demand for the welding wires market.
- Continuous innovations in welding technology enhance efficiency and precision.
- Welding wires are used in various sectors, including automotive, construction, and manufacturing, ensuring broad market reach.
Fluctuations in raw material prices can impact profitability.
- Stringent regulations and standards can increase production costs.
- Intense competition among manufacturers may lead to price wars and reduced margins.
Growing industrial sectors in emerging economies present new growth opportunities in the welding wires market.
- The development of sustainable and eco-friendly welding wires can attract environmentally conscious customers.
- Increasing automation in welding processes offers potential for advanced product integration.
Economic downturns can reduce demand for industrial products, including welding wires.
- Rapid technological changes may require continuous adaptation and investment.
- Disruptions in the supply chain can affect production and distribution efficiency.
Key Players in the Global Welding Wires Market and Their Key Initiatives
Lincoln Electric Holdings, Inc.
- Launched an innovative automated welding solution.
- Introduced an advanced welding wire to capture the welding wires market opportunities.
Changzhou Sanzhong Welding Materials Co., Ltd
- Launched new AWS ER5183 aluminum welding wire.
- Launched an advanced quality control system.
Berkenhoff GmbH
- Introduced the berco weld® series for brazing and welding copper and copper alloys.
- Expanded their wire portfolio to include high-quality aluminium alloys.
ESAB Corporation
- Launched its Marathon Pac Ultra packaging solution to meet the growing demand of the welding wires market.
- Introduced InduSuite digital software solutions.
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Global Welding Wires Industry Segmentation
“Global Welding Wires Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Composite Metal-Cored Wires
- Gas-Shielded Flux-Cored Arc Welding Wire
- Solid Gas Metal Arc Welding Wire
Market Breakup by Material
- Alloys
- Stainless Steel
- Aluminium
- Others
Market Breakup by Industry
- Automotive
- Building and Construction
- Oil and Gas
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Welding Wires Market Share
The growth of the welding wires market is fuelled by alloyed wires, which improve strength, durability, and corrosion resistance, and are versatile for industries such as automotive and aerospace.
Stainless steel wires offer excellent rust resistance, high tensile strength, and a polished finish with minimal maintenance, making them ideal for demanding environments and high-quality applications. These attributes drive increased welding wires demand growth.
Leading Companies in the Welding Wires Market
The company’s focus is on welding and cutting technologies, providing an extensive array of products and services. Renowned for their innovation and high standards, they cater to various industries, such as automotive, aerospace, and construction.
- Lincoln Electric Holdings, Inc.
- Changzhou Sanzhong Welding Materials Co., Ltd
- Gedik Welding Inc.
- Berkenhoff GmbH
- ESAB Corporation
- Zika Industries Ltd
- Chosun Welding Co., Ltd.
- Rywal-RHC Group
- BS Stainless Limited
- Novametal SA
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The welding wires market value is expected to grow at a CAGR of 4.7% between 2024 and 2032.
The major market drivers include its application in the end use industries, properties such as rusting prevention and reduced oxidisation, and use of flux core and hard wire.
The key trends of the market are increasing demand from automotive industries, investments towards research and development activities, and use of specialised welding wires for dedicated applications.
Welding wire is a type of rod that is thin and metallic and is melted to generate a heated arc that is later used to fuse metal pieces together.
The market is broken down into composite metal-cored wires, gas-shielded flux-cored arc welding wire, and solid gas metal arc welding wire.
The global welding wires market is segmented based on type, material, industry, and region.
Commonly used welding wire sizes are 0.35 and 0.45 diameters.
TIG wire uses a hand-held filler rod and a non-consumable electrode for a weld to form whereas MIG uses a solid wire which is usually machine fed to the weld area.
Welding wire is generally preferred as it produces stronger joints than those created with soldering wires.
The competitive landscape consists of Lincoln Electric Holdings Inc., Changzhou Sanzhong Welding Materials Co., Ltd., Gedik Welding Inc., Berkenhoff GmbH, ESAB Corporation, Zika Industries Ltd., Chosun Welding Co. Ltd., Rywal-RHC Group, BS Stainless Limited, and Novametal SA, among others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The various materials of welding wires are alloys, stainless steel, aluminium, and others.
The market is broken down into automotive, building and construction, oil and gas and others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| 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:
|
| Breakup by Type |
|
| Breakup by Material |
|
| Breakup by Industry |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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