Dublin, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The "Welding Products Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global welding products market.
This report focuses on the welding products market which is experiencing strong growth. The report gives a guide to the welding products market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for welding products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Welding Products market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider welding products market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The welding products market section of the report gives context. It compares the welding products market with other segments of the welding products market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, welding products indicators comparison.
Major players in the welding products market are The Lincoln Electric Company, Colfax Corporation, Illinois Tool Works Inc, Kemppi Oy, Kiswel Inc., Obara Corporation, Senor Metals Pvt. Ltd., Tianjin Bridge Welding Materials Co. Ltd., ESAB, and Ador Welding Ltd.
The global welding products market is expected to grow from $12.10 billion in 2020 to $13.31 billion in 2021 at a compound annual growth rate (CAGR) of 10%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.08 billion in 2025 at a CAGR of 8%.
The welding products market consists of sales of welding products by entities (organizations, sole traders, and partnerships) that manufacture welding products that use a filler material in the welding process for joining metals such as stainless steel, aluminum, nickel, and copper alloys, cobalt, and titanium. Welding products are the materials or consumables that are used to carry out the welding process to create parts and finished products for a wide range of industries.
The main product types in welding products are stick electrodes, solid wires, flux-cored wires, saw wires and fluxes, and others. Stick electrodes are consumable used for repairing work and they are self-shielded and cut down on the amount of equipment needed. The different types of technologies include arc welding, resistance welding, oxy-fuel welding, laser beam welding, others and is implemented in various verticals such as the automobile and transportation sector, building and construction, marine, and others.
Asia Pacific was the largest region in the welding products market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Technological advancement in welding products is a key trend gaining popularity in the welding products market. The key players in the welding products market are developing technologically advanced products with improved impact wear resistance and combined abrasion to meet industrial requirements. For instance, In May 2019, Castolin Eutectic, a Switzerland-based manufacturer of welding brazing and coating solutions launched new formulations for welding wire EnDOtec DO*327 and new electrode 6327 XHD using XHD technology. The welding wire EnDOtec DO*327 and new electrode 6327 XHD has high impact wear resistance and advanced combined abrasion properties that provide improved weldability, performance, and deposition rate.
In May 2019, Lincoln Electric Holdings, Inc., a US-based manufacturer of welding products and equipment acquired 49.6% interest in Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) for an undisclosed amount. Through this acquisition Lincoln Electric Holdings, Inc advances its regional growth strategy. Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak) is a Turkey-based manufacturer of welding consumables, arc welding equipment.
The rapid expansion of the construction sector is expected to propel the growth of the welding products market in the forecast period. The construction sector is a very diverse industry that includes various activities such as infrastructure, buildings, and maintenance. Welding is mostly used in the production of structural frameworks from metal components. Welding is used for joining trusses, footers, steel I-beams and columns that maintain a building's walls, roof, and floors. For instance, according to the Intercontinental Exchange (ICE), a US-based technology company the global construction sector is expected to grow to $8 trillion by 2030. Therefore, the rapid expansion in the construction sector drives the growth of the welding products market.
The countries covered in the welding products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Welding Products Market Characteristics
3. Welding Products Market Trends and Strategies
4. Impact Of COVID-19 On Welding Products
5. Welding Products Market Size and Growth
5.1. Global Welding Products Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of the Market
5.1.2. Restraints On the Market
5.2. Global Welding Products Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of the Market
5.2.2. Restraints On the Market
6. Welding Products Market Segmentation
6.1. Global Welding Products Market, Segmentation by Product , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Flux Cored Wires
Saw Wires and fluxes
6.2. Global Welding Products Market, Segmentation by Technology , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Oxy Fuel Welding
Laser Beam Welding
6.3. Global Welding Products Market, Segmentation by Application , Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Automotive and Transportation
Building and Construction
7. Welding Products Market Regional and Country Analysis
7.1. Global Welding Products Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Welding Products Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jhtrhg
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