Hardfacing Welding Market Size, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts, 2023 To 2030

Hardfacing welding is a process of depositing thick coatings of rigid and wear resistant layer on material surface. It is used to deposit very heavy & dense layers of wear resistant with high bond strength. The process has several advantages such as high precision and high configuration due to which it is preferred in application industries.

Moreover, the hardfacing process helps in preventing corrosion, thermal shock and abrasion. Some of the major forms of welding include gas tungsten arc, shield metal arc, tabular electrode, gas shielded metal arc, self-shielded arc process/open arc process, and submerged arc welding. Some of the common metals associated with the process includes steel, stainless steel, carbon steel, tungsten carbide, and cobalt based alloys.

In the hardfacing process, a tougher or harder metal is used to cover the base materials, via welding or thermal spraying. This is majorly used to reduce the wear and tear for the base materials. The market demand is expected to grow due to the increased application scope along with developments associated with the scope of tools used in the process.

On the basis of application, the hardfacing welding in mainly categorized into building & construction, automotive, railways & shipbuilding, heavy engineering, oil & gas and others. The heavy engineering market segment is forecasted to account for a significant market share and the demand is further forecasted to grow increasingly. This is attributed to the growing automation and increasing amount of industrial activities.

Hardfacing process helps in reducing maintenance, operation cost, lowers the repair cost and helps in extending the life of the equipment. The major regions included in the regional analysis include North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. The Asia Pacific region is forecasted to grow at the most lucrative rate due to rapidly growing industrialization along with growing infrastructural development in developing countries in China, South Korea, India and Bangladesh.

Some of the major players in the hardfacing welding market include Polymet, Nexa Weld, ADOR WELDING LIMITED, Sharp Welding Electrodes, Euweld Doo, GEC Groups and Abracor SA. The vendors operating in the market are highly focused on research & development activities in order to strengthen their position amongst the competition.