The global welding material market is expected to grow at CAGR of 8.7% from 2018-2023. The driving force of this market is increased need of joining two or more metals for construction of vehicle, building, railway and aircraft. Due to increased demand huge amount is invested in R&D to develop innovative process and welding materials.
What is Welding material?
Welding is a process that joins materials usually metals, glass and thermoplastics by causing fusion. Over a long period a wide range of welding processes are developed such as Gas metal arc welding (GMAW), Submerged arc welding (SAW), Resistance welding, etc. Each welding processes differs from other and selection of particular process for producing strong joint depends on size and shape of product, type of metal, cost and availability of machines and consumables. Welding materials are equipment or consumables used during welding such as gases, electrode, wire, etc.
What are the major applications for Welding material?
Welding processes are widely used for building bridges, railway tracks, railway coaches, building structure and fabrication of pressure vessel. There are various types of welding process such as Gas arc metal welding, Resistance welding, Thermite welding, etc. Resistance welding is generally used in automobile industry while thermite welding is used for joining railway tracks. Plasma arc welding is used in tubing and instrument manufacturing. Gas tungsten arc welding is used in aerospace building and construction of pipelines. Every single appliance around us or in industries has passed through welding process during its manufacturing.
Market Research and Market Trends of Welding material:
- Automated welding process is the biggest trend in welding market. Due to shortage of skilled labor and increased welding requirement, robot welders are gaining popularity in resistance spot welding and arc welding. Some companies such as KUKA, Yaskawa have developed robot welder to automate the process and improve the overall efficiency in high production industries.
- Illinois is a US based equipment and specialty product based company which offers welding equipment from various brands such as Miller, Elga, Hobart, Tregaskiss, Bernard, AEC Technology and PWT. Miller is the largest manufacturer of arc welding products whereas PWT offers automatic welding for pipeline construction. Illinois’s Elga provides coated electrode and cored wires for welding process. Recently Elga has launched a newer version of P51 basic coated low hydrogen electrode. With its excellent positional welding feature this product has become the first choice among pipeline welder. Illinois may witness huge growth in their revenue compared to year 2017 which was $1.5 billion.
Who are the Major Players in Welding material market?
The companies referred to in the market research report includes Illinois Tools Work Inc., Praxair, Colfax Corporation and 10 other companies.
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