Transparency 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.
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.
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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.
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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.
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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).
The report segments the welding consumables market
in the U.S. as follows:
Welding Consumables Market - Product Analysis
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (including rods, etc.)
Welding Consumables Market - End-user Analysis
- Automobile & transportation
- Building & construction
- Marine
- Power
- Oil & gas
- Others (including repair & maintenance, etc.)
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