The U.S. welding consumables market size was valued at USD 2.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 2.3% from 2021 to 2028. The demand for welding consumables in the U.S. is expected to be driven by automation in the automotive sector, coupled with the extensive manufacturing abilities of the industrial sector in the economy. The market for U.S. welding consumables witnessed a notable decline on account of the lockdown imposed to curb the spread of COVID 19. The market also exhibited a decline due to the stoppage of industrial manufacturing on account of the lockdown imposed in the country. The demand for welding consumables for services involving essential MRO, coupled with the resumption of the manufacturing sector in the latter half of 2020, drove the demand for welding consumables.
The industry in the country was impacted due to the fluctuations in the prices of the raw materials used for the production of welding consumables. In addition, suspension in cargo transportation in the initial part of the lockdown in early-2020 resulted in a limited supply of the product across the country, which led to a reduction in the industry growth.
Welding consumables in the U.S. are supplied through wholesalers, retailers, direct agreements between manufacturers and distributors, and third-party supply agreements. Several manufacturers are adopting forward integration, which enables them to sell their products directly. For instance, The Lincoln Electric Company and Illinois Tool Works, Inc. are among the major manufacturers and suppliers in the market whose operations are forward integrated.
The industry has witnessed a trend towards the adoption of low-heat input welding techniques, such as single arc, and better-performing consumables, which has increased the automation levels for OEMs in the automotive industry. The presence of a notable automotive manufacturing base in the country is also expected to benefit the industry growth over the forecast period.
The U.S. emerged as one of the pioneers in innovation related to the advanced manufacturing technologies for several manufacturing industries such as the internet of things (IoT) and smart factories leading to smart products and advanced materials, which are likely to emerge as the key instruments of growth. The growing innovation in the country is expected to promote industrial manufacturing, which, in turn, is expected to fuel growth.
Arc welding emerged as the largest technology segment in 2020 and accounted for a revenue share of 38.5% in the U.S. market. High penetration of the technology on account of its ease of usage across the building and construction and automotive industries is the key reason driving this technology segment.
Resistance welding mainly finds application in the automotive industry for various processes, such as spot, projection, and seam welding. These three processes are employed on account of their beneficial characteristics, including stability, low environmental impact, and cost-efficiency. Rising demand from the automobile and transportation sectors is expected to drive the segment over the forecast period.
Heightening demand for luxury cars in the country has raised the standards for precision welding, with the manufacturers aiming to utilize resistance welding technology to smoothen the joints. Growing consumer concerns regarding smooth finishes are further likely to offer growth opportunities for resistance welding.
Oxy-fuel technology is widely utilized for repair works in addition to welding thin metal sheets, small pipes, and tubes. The major advantage of oxy-fuel welding technology is that the welder can control the heat input and temperature irrespective of how much filler metal is added. This technology is extensively employed in straightening, bending, surfacing, brazing, braze welding, and other related operations, which is expected to fuel the growth of this technology segment.
In 2020, stick electrodes held the largest revenue share of 35.7% in the U.S. market. Extensive use of the product as filler materials for joining two different metals is expected to drive the segment. Superior benefits of the product including corrosion resistance and high tensile strength and ductility are expected to emerge as the key factors driving the product.
Increasing infrastructural projects are expected to increase the demand for stick electrodes in the country. For instance, the Southwest Florida International Airport has invested USD 250 million for terminal expansion, which would cater to various checkpoints and check-in areas that require blocks and metals to be welded and fixed at a certain point. This is expected to raise the demand for welding services, thereby adding growth to the industry in the U.S.
The flexibility and ruggedness of solid wires are the key properties that increase their utility in application areas, such as house electrical wiring and breadboards, which require flexible wires. Moreover, ascending demand for in-house electrical wiring and breadboard applications has boosted the consumption of solid wires.
Saw wires and fluxes are widely utilized in application areas, such as exploration platforms, pressure vessels, fabrication of offshore drilling platforms, and post-weld heat treatment. These are extensively employed in offshore construction, pressure vessels construction, and others. The global saw wires and fluxes market is expected to witness moderate growth over the forecast period owing to the presence of stringent environmental regulations related to the application industries.
Key industry players are engaged in the manufacturing and distribution of a variety of welding consumables, including stick electrodes, solid wires, flux-cored wires, and saw wires fluxes. Technical innovations and improvements in the production process have resulted in the manufacturing of welding consumables with superior durability with extended lifespan.
Prominent manufacturers have been adopting various strategies including investments, agreements, partnerships, acquisitions, joint ventures, and collaborations, to expand their market presence and cater to the changing requirements of the application industries. The industry is also expected to witness the introduction of new products marketed as high-performance alternatives in a bid to increase the company revenues. Some prominent players in the U.S. welding consumables market include:
The Lincoln Electric Company
Air Liquide Welding, Ltd.
Market size value in 2021
USD 2.02 billion
Revenue forecast in 2028
USD 2.39 billion
CAGR of 2.3% from 2021 to 2028
Base year for estimation
2017 - 2019
2021 - 2028
Revenue in million/billion and CAGR from 2021 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key companies profiled
Voestalpine; The Lincoln Electric Company; Obara Corporation; Kiswel, Inc.; Colfax Corporation; Air Liquide Welding, Ltd.
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This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the U.S. welding consumables market report on the basis of technology and product:
Technology Outlook (Revenue, USD Million, 2017 - 2028)
Laser Beam Welding
Product Outlook (Revenue, USD Million, 2017 - 2028)
Saw Wires & Fluxes
b. The U.S. welding consumables market size was estimated at USD 2.0 billion in 2020 and is expected to reach USD 2.02 billion in 2021.
b. The U.S. welding consumables market is expected to grow at a compound annual growth rate of 2.3% from 2021 to 2028 to reach USD 2.39 billion by 2028.
b. Arc welding dominated the U.S. welding consumables market with a revenue share of over 38% in 2020. This is attributable to the high demand for arc welding-based consumables from the automotive industry.
b. Some of the key players operating in the U.S. welding consumables market include Voestalpine, The Lincoln Electric Company, Obara Corporation, Kiswel, Inc., Colfax Corporation, and Air Liquide Welding, Ltd.
b. Key factors that are driving the U.S. welding consumables market growth include increasing industrial manufacturing and the rapid rise of the building & construction sector post-COVID19.
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