– Digital process control technologies and adoption of metal core wires in automated and robotic setups to bring higher efficiencies in welding processes are propelling investments in U.S. welding consumables market
– Manufacturers harnessing deep learning tools for developing hard-facing welding consumables that comply with high abrasion-resistant standards
ALBANY, N.Y., Oct. 13, 2021 /PRNewswire/ — A wide spectrum of welding consumables have grown in demand in welding applications for maintenance works in the power generation industry, expanding the revenue potential of players in the U.S. welding consumables market. High-quality electrodes and wires are increasingly being demanded by end users for fabrication of structural components in the heavy industry. The demand is steadily rising in the assembling and manufacturing of boilers, offshore rigs, process piping, and pressure vessels.
Advancements in filler material chemistries and mechanized welding are key developments in the market. The growing awareness about the benefits of high-performance tandem welding is enriching the prospects of the U.S. welding consumables market. The growing number of robotic welding applications has fueled sales in the regional market. The valuation in the U.S. welding consumables market is projected to advance at a CAGR of 5% during the forecast period of 2021-2031 (in terms of value), and reach US$ 3.6 Bn by 2031.
Increase in adoption of automation in process control and use of high-performance welding wires for robotic welding are enabling users avoid reworks and increase uptime. The COVID-19 outbreaks had caused a significant slump in manufacturing industries, thus hampering the prospects of the U.S. welding consumables market. With relaxed norms in recent months and economic activities gaining pace, the players in the market are leaning on tapping into lucrative opportunities arising from the demand for welding operations in construction, agriculture, and power sectors.
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Key Findings of U.S. Welding Consumables Market Study
- High Performance Tandem Welding to Gather Traction: Rise in adoption of mechanized or robotic welding in the automotive and shipbuilding industries have propelled the sales of consumables for tandem welding. The high precision achieved with the process is one of the emerging value propositions for companies in the U.S. welding consumables market. A number of cored wires are used in tandem welding. High performance is expected to gather steam for fabrication of heavy structures.
- Automation with Robotics, Software to Boost Productivity of Welding Operations: Consumers in the market have increasingly benefitted from the advent of solid wires that can be used in robotic welding applications. The development of hard-facing welding consumables has gained impetus among manufacturers who are increasingly leveraging machine learning tools and other AI tools to improve the performance of solid wires. The economic and environmental advantages that come with hard-facing welding consumables are spurring their popularity among end-use industries in the U.S. welding consumables market. The demand for bio-based raw materials for consumables such as welding wires has made the welding process sustainable, thereby opening new avenues for manufacturers in the regional market.
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U.S. Welding Consumables Market: Drivers
- Strides made in the power generation industry have spurred the demand for welding, thus extending the revenue potential of players in the U.S. welding consumables market. In particular, growing welding processes by infrastructure developers for renewable power generation, notably for welding components in wind energy, have unlocked potential revenue streams.
- Rise in demand for fabricated steel in the construction sector is a key driver for the U.S. welding consumables market. A great deal of this emerges from the widespread consumption of steel in commercial and residential projects.
- Recovery in demand in automotive and transportation sectors is another factor expanding the prospects, notes the study on the welding consumables market in the U.S.
U.S. Welding Consumables Market: Competitive Dynamics
Some of the key players in the U.S. welding consumables market are Mitco Weld Products Pvt. Ltd., Welding Alloys Group, The Lincoln Electric Company, Illinois Tool Works Inc., Air Liquide, KOBE STEEL, LTD., and ESAB.
U.S. Welding Consumables Market: Segmentation
U.S. Welding Consumables Market, by Product
- Stick Electrodes
- Solid Wires
- Flux-cored Wires
- SAW Wires & Fluxes
- Others (including Rod Electrodes)
U.S. Welding Consumables Market, by End Use
- Automobile & Transportation
- Building & Construction
- Oil & Gas
- Others (including Aerospace & Agriculture)
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