PUNE, India, September 16, 2016 /PRNewswire/ --
The report "Welding Materials Market by Type (Electrode & Filler Materials, Fluxes & Wires, Gases), End-Use Industry (Transportation, Building & Construction, Heavy Industries), Technology (ARC, Resistance, OXY-Fuel Welding), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to reach USD 15.80 Billion by 2021, at a CAGR of 5.2% from 2016 to 2021.
Browse 69 market data Tables and 56 Figures spread through 139 Pages and in-depth TOC on "Welding Materials Market"
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This growth is mainly attributed to the increasing demand for welding materials from the transportation, plant & machinery manufacturing, and building & construction industries worldwide.
Transportation end-use industry is expected to lead the welding materials market by 2021
The transportation end-use industry segment accounted for a major share of the welding materials market in 2015. Welding materials are used for welding vehicle parts in the automotive industry. Thus, increase in automobile production will drive the demand for welding materials in the transportation industry.
Arc welding technology is projected to account for the largest share of the welding materials market by 2021
The arc welding technology segment captured more than one-third of the welding materials market share in 2015; this segment is anticipated to grow at a high CAGR during the forecast period. In comparison to other welding methods, arc welding offers several advantages such as high heat concentration, uniformity in metal deposition, and corrosion resistance. This makes arc welding one of the most preferred technologies in the welding process.
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Electrode & filler materials type to lead the welding materials market by 2021
The electrode & filler materials segment accounted for the largest share of the welding materials market in 2015. This large share is mainly attributed to the low cost of electrode & filler materials and their applicability in varied end-use industries, such as transportation, building & construction, and metal works.
The Asia-Pacific region is expected to lead the welding materials market during the forecast period
Asia-Pacific accounted for the largest share of the welding materials market in 2015, followed by Europe and North America. China is one of the major consumers of welding materials in the Asia-Pacific region. Increasing investments by leading automobile manufacturers in the Asia-Pacific region, and the rising demand for welding materials from the building & construction sector are factors propelling the growth of the Asia-Pacific welding materials market.
Major market players covered in this report include Air Products and Chemicals, Inc. (U.S.), The Linde Group (Germany), Praxair Incorporated (U.S.), Colfax Corporation (U.S.), Air Liquide S.A. (France), Illinois Tools Works Inc. (U.S.), Lincoln Electric Holdings, Inc. (U.S.), and Tianjin Bridge Welding Materials Group Co., Ltd. (China).
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Welding Gas/Shielding Gas Market by Type (Argon, Carbon dioxide), by Storage, Distribution & Transportation (Cylinder & Packaged Gas, Merchant Liquid/Bulk), by Application (Gas Metal Arc Welding, Tungsten Gas Arc Welding), by End-Use Industry - Global Forecast to 2020
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