Welding materials market is projected to grow at USD 17.3 billion by 2025

CITY, Country, 2021-Oct-27 — /EPR Network/ —

Welding is the process in which two metal parts are bonded together by melting various types of materials at their surfaces. It is an important process in metal fabrication industries. The welding process is widely used in many industries, such as transportation, shipbuilding, building & construction, and manufacturing. It is also used in the repair & maintenance industry to fasten different metal surfaces. Any material used in the process of welding is known as welding material. Welding materials mainly include electrodes, fluxes, wires, and shielding gases. The welding materials market is projected to grow from USD 13.6 billion in 2020 to USD 17.3 billion by 2025, at a CAGR of 4.8% during the forecast period.

The arc welding segment, by technology, is projected to grow at the highest CAGR during the forecast period. Arc welding is one of the most preferred technologies for the welding process. The use of arc welding technology is gaining popularity owing to its high performance as compared to other technologies. Arc welding has the advantage of high heat concentration during the welding process, which eases the welding process compared to that of other welding technologies. In addition, uniformity in the metal deposition, good corrosion resistance, and high impact resistance make it one of the prominent welding technologies.

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The electrodes & filler materials segment, by type, accounted for the largest share in the welding materials market, in terms of value. Welding electrodes are materials that are used to conduct electricity from the electrode holder to the metal surface to be welded. They provide the filler material required during the welding process. They are generally metal components coated with chemical ingredients. The coating, which is provided on the welding electrode, protects the electrode from external damage and stabilization during the welding process. Filler materials are consumables that are used to fill gaps during the welding process. Gaps generally occur when two metal components are welded, and these gaps are to be filled to provide more durability and performance to the welded components.

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In terms of geographic coverage, the welding materials market has been segmented into five regions, namely, North America, the Asia Pacific, Europe, the Middle East and Africa, and South America. The Asia Pacific region accounted for the largest share in 2019 and is also projected to record the highest growth rate during the forecast period. APAC is the largest producer and consumer of welding materials across the globe, with almost all major manufacturers and end-use companies present in the region. APAC has witnessed tremendous growth in the past few years, driven by the growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region. Cheap labor costs, coupled with favorable import-export policies, have made APAC an ideal market for automotive OEMs as well as electronics manufacturers, which, in turn, are expected to drive the regional welding materials demand.

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