Welding Consumables Market to Witness Comprehensive Growth by 2023
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.
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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. 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.
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).
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Read Report Overview @
https://www.transparencymarketresearch.com/us-welding-consumables-market.html
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. 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.
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.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9509
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).
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com