Welding materials market is projected to reach USD 15.80 billion by 2021
The welding materials market is projected to reach USD 15.80 billion by 2021, at a CAGR of 5.2% from 2016 to 2021. Increasing consumption of welding materials in the automotive and building & construction industries is one of the most significant factors driving the growth of the welding materials market.
Arc welding segment to register high growth in the welding materials market
Arc welding is the most prominent welding process, owing to its exceptional performance. Arc welding offers several advantages such as high heat concentration, uniformity in metal deposition, good corrosion resistance, and high impact resistance. This process is mainly used in varied end-use industries such as automotive, heavy machineries, and building & construction.
The welding materials market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period
The Asia-Pacific welding materials market is anticipated to grow at the highest CAGR between 2016 and 2021. Growth in this market is driven by the increasing demand for welding materials from China and India. China is the major consumer of welding materials in the Asia-Pacific region, with increase in demand for welding materials from the building & construction and automotive industries. Among all countries in this region, the welding materials market in India is expected to grow at the highest CAGR during the forecast period.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 - 57 %, Tier 2 - 29%, and Tier 3 - 14%
- By Designation: C Level - 55%, Director Level - 36%, and Others - 9%
- By Region: North America - 57%, Europe - 14%, Asia-Pacific - 22%, and Middle East & Africa - 7%
Major companies profiled in this report are Air Products and Chemicals, Inc. (U.S.), The Linde Group (Germany), Praxair Incorporated (U.S.), Colfax Corporation (U.S.), Air Liquide S.A. (France), Ador Welding Limited (India), Illinois Tool Works Inc. (U.S.), Lincoln Electric Holdings, Inc. (U.S.), and Tianjin Bridge Welding Materials Group Co., Ltd. (China).