WELDING CONSUMABLES MARKET ANALYSIS

Welding Consumables MarketSize and Trends

The Global Welding Consumables Market is estimated to account for US$ 15.92 Billion in terms of value by the end of 2022 and is expected to grow at a CAGR of 5.8% during the forecast period (2023-2030)

The Global Welding Consumables Market was valued at US$  15.92 Billion in 2022 and is forecast to reach a value of US$ 24.92 Billion by 2030, exhibiting a CAGR of 5.8% between 2023 and 2030.

Global Welding Consumables Market- Trends:

Focus on Environmentally Friendly Solutions

The Global Welding industry is increasingly conscious of environmental concerns, leading to a growing demand for eco-friendly welding consumables. This includes consumables with reduced emissions of fumes and gases, as well as those that minimize waste and promote recycling. Manufacturers are developing new consumables that meet these requirements to cater to environmentally conscious customers.

In April 2022, Dr. S. Arungalai Vendan, Professor, Electronics, and Communication, School of Engineering, Dayananda Sagar University, Bangalore developed the Internet of Things (IoT) integrated machine titled “Magnetically Impelled Arc Butt Welding Equipment” embedded with sensors for sound, vibration, arc light intensity, temperature as well as smoke, along with processors for abstracting data for predicting the quality of the welding.  The low-cost IoT integrated machine was supported by the Department of Science and Technology,

Introduction of Innovative Alloys

The development of new alloys and materials has been influencing the welding consumable market. With advancements in industries such as aerospace, automotive, and energy, there is a need for welding consumables that can effectively join and repair these advanced materials. Consumables designed for welding high-strength steels, aluminum alloys, and exotic metals are in high demand.

Special Metals Corporation is the, developer and producer of nickel alloy and cobalt alloys—with a portfolio of more than 100 alloy compositions, wrought products and welding consumables