Welding Consumables Market to Grow Progressively; Usage of Such Consumables in Various Sectors to Drive Way for Market Progress

The global welding consumables market size is estimated to display strong growth by reaching USD 17.66 billion by 2030. Fortune Business Insights™ in its report titled “Welding Consumables Market Size, Share & COVID-19 Impact Analysis, By Type (Stick Electrodes, Solid Wires, Flux-cored Wires, and SAW Wires & Fluxes), By Welding Technique (Arc Welding, Resistance Welding, Oxy-fuel Welding, Solid State Welding, and Others (Electron Beam Welding)), By Application (Automotive, Building & Construction, Heavy Engineering, Railway & Shipbuilding, Oil & Gas, and Others (Aerospace)), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 12.61 billion and is expected to reach USD 12.98 billion in 2023. The market is expected to witness a strong CAGR of 4.5% during 2023-2030. Welding consumables help in ensuring cost-effective welding, which helps in protecting the molten weld from impurities in the air and prevent porosity from forming in the weld pool. As a result, they are commonly used in the construction, automotive, energy, shipbuilding, and aerospace sectors.

Lincoln Electric Increased its Product Diversity by Offering Hyperfill Solutions

In May 2022, Lincoln Electric increased diversity in its existing product portfolio by offering Hyperfill solutions into its Flux-Cored wire applications. The company is engaged in developing, manufacturing, and supplying of welding equipment and consumables in diverse geographies, which has increased diversity in its existing product portfolio.

Fabrication Industry Experienced Shutdown of Production Units, Construction Project Delays, and Shortage of Trained Welders

Lockdowns, travel bans, and company closures affected economies and businesses in leading to manufacturing industries to experience supply chain disruptions, technology event cancellations, and workplace closures. According to the American Iron & Steel Institute Data, there was reduction in production by the U.S. steel mills, which led to reduction in the output as well. Furthermore, the fabrication industry also experienced a downturn leading to the shutdown of total production units, construction project delays in the construction projects or cancellations, and a shortage of trained welders on the worksite.

Utilization of Smart Materials in the Welding Industry to Increase the Product Demand

Utilization of smart materials in the welding industry is anticipated to drive the welding consumables market growth. Additionally, smart material has an embedded computer chip to track weld life and provide a multi-functional design. For instance, NiTi shape memory welding consumables and joining facilitate flexibility in terms of the intelligent design of multifunctional systems. Additionally, incorporating such materials consumes less energy and reduces pre- and post-heating processes.  

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New Product Portfolio and Diversification in the Existing Product Portfolio to Expand Market Share

The manufacturers have been strengthening their positions the Asia Pacific region, thereby striving companies to strengthen supply chains to increase the direct customer reach and increase penetration in the regional market. New product portfolio and diversification in the existing product portfolio are expected to aid market growth. In July 2022, Lincoln Electric recently launched its newly developed Power MIG 215 MPi Multi-Process Welder, which is designed to have economical advantage and also does have a robust design.

Key Industry Development

• February 2023: Miller Electric Mfg. LLC released its technologically advanced wire feeder and welding power sources for enhancing the productivity of the system and for cost optimization. The newly developed system will serve the requirements of shipbuilding, structural fabrication, and steel erection industries.

List of Key Companies Profiled in the Report:

• Lincoln Electric (U.S.)


• KOBE STEEL, LTD (Japan)


• ESAB (U.S.)


• CS HOLDINGS CO., LTD. (Korea)


• Hyundai Welding Co., Ltd (U.S.)


• Panasonic Corporation (U.S.)


• Fronius International GmbH (Austria)


• RME MIDDLE EAST (UAE)


• voestalpine BÖHLER Edelstahl GmbH (Austria)

Further Report Findings

• The market in North America stood at USD 4.65 billion in 2022 and captures the maximum global welding consumables market share. The dominance is attributed to the presence of market players in the developing and developed countries such as China, India, and South Korea.

• Asia Pacific is expected to have prominent growth as it has various manufacturing facilities making it one of the leading manufacturing hubs in the market. Technological advancements and huge investments in the research and development operations by the companies are also expected to propel market growth.

Table of Segmentation