USD 348.09 million
Global Aluminum Welding Wires Market Size, Share, Growth Analysis, By Product type(Aluminum-magnesium alloy welding wire, pure Aluminum welding wire), By Processing type (Bayer process, electrolysis), By Welding Process Type(GTAW/TIG, GMAW/MIG), By Application(Automotive & transportation, shipbuilding industry) - Industry Forecast 2023-2030
Report ID:
SQSG15J2011 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
120 |
Figures:
72
Global Aluminum Welding Wires Market Insights
Aluminum Welding Wires Market size was valued at USD 348.09 million in 2019 and is poised to grow from USD 371.10 million in 2023 to USD 619.26 million by 2031, at a CAGR of 6.61% during the forecast period (2024-2031).
The automobile sector is an important contributor to the global aluminium welding wires market. Innovative technologies in this product are also expected to boom the global market. Because of the metal's favourable characteristics, such as high strength, low weight, adaptability in extrusion and casting, aluminium welding wire has grown in popularity. Other factors which enhance the industry includes recyclability and corrosion resistance. Government regulations concerning emission levels have become increasingly stringent in recent years. The implementation of these stringent government regulations governing emission levels also has a positive impact on market growth. The relationship between government regulations and market growth is because the use of aluminium welding wires in vehicles provides the necessary strength while attempting to maintain fuel efficiency. The contribution of aluminium welding wires on fuel efficiency boosts the market even further during the forecasting years.
US Aluminum Welding Wires Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Automotive & transportation
Fastest Growth
Construction industry
Growth Rate
6.61% CAGR
Country Share for Asia Pacific Region- 2021 (%)
Global Aluminum Welding Wires Market Size By Application, 2021-2028 ($ Bn)
Global Aluminum Welding Wires Market Size By Application, 2021-2028 (%)
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Global Aluminum Welding Wires Market Segmental Analysis
Global aluminum welding wires market is segmented based on the product type, processing type, welding process type, application, and region. Based on product type, the market is segmented into aluminum-magnesium alloy welding wire, pure aluminum welding wire, Al-Si alloy welding wire. Based on processing type, the market is segmented into bayer process, electrolysis. Based on welding process type, the market is categorized into GTAW/TIG, GMAW/MIG, laser beam welding and electron beam welding, resistance welding. Based on application, the market is bifurcated as automotive & transportation, shipbuilding industry, railway industry, construction industry, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Aluminum Welding Wires Market Analysis by Processing Type
Based on processing type, the aluminum welding wires market is segmented into bayer process, electrolysis. During the forecast period, the Bayer process is expected to have the largest market share. One of the most common bauxite extraction processes is the Bayer process. Its market share is due to the fact that it forms the edifice for collecting aluminium.
Electrolysis has the second largest market share because it is used to obtain liquid aluminium, which is not an essential part of collecting aluminium, resulting in its lack of market dominance.
Aluminum Welding Wires Market Analysis by Application
Based on application, the market is bifurcated as automotive & transportation, shipbuilding industry, railway industry, construction industry, and others. The automotive and transportation segment is expected to hold the largest market share throughout the forecast period, owing to factors such as a rise in the demand for lightweight vehicles.
The construction segment has the second largest market share because a substantial percentage of the market is due to the continuous rise in construction projects and the use of aluminium welding wires in such projects.
Global Aluminum Welding Wires Market By Application, 2021 (%), 2023 (%)
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Global Aluminum Welding Wires Market Regional Insights
Asia Pacific is the market leader followed by North America owing to factors such as transportation sector development and the emergence of the automotive industry in this region have all made a significant contribution to this market's dominant position. Besides the growth of the automotive industry, there has also been an expansion in the number of productions of lightweight vehicles, which has resulted in this region's dominance in the market during the forecasting years. The dominance of the region is attributed to factors such as population growth, advancement in construction projects, and utilization of aluminium welding wires in such projects.
Global Aluminum Welding Wires Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Aluminum Welding Wires Market Dynamics
Aluminum Welding Wires Market Driver
Numerous Benefits of Aluminum Welding Wire to Drive Market Growth
- The adoption of robots in welding operations, as well as the automation of welding processes, are anticipated to propel the global aluminum welding wires market forward. There are several benefits to automating a factory with welding robots to make the welding process more uniform, faster, and with fewer failures. Furthermore, the application of welding robots is expected to reduce labour costs while also decreasing the number of accidents, resulting in greater productivity. As a result, these factors are expected to create favourable conditions for the global aluminum welding wires market to expand.
Aluminum Welding Wires Market Restraint
Few Challenges to Restrict Market Growth
- Aluminum wires can be easily broken and it may even result in porosities when welded. Welding thin gauge aluminium poses significant difficulties, such as distortion, burn-through, and warping. Another major concern when welding with aluminium wire is its feedability. As aluminium wires are softer, using a gun to fill them with metal fillers is difficult. These disadvantages of using aluminium in welding wires are important factors that are expected to have an adverse effect on the global aluminium welding wires market growth.
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Global Aluminum Welding Wires Market Competitive Landscape
Global aluminum welding wires market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Aluminum Welding Wires Market Top Player's Company Profiles
- ESAB (Colfax Corporation)
- Lincoln Electric
- ITW
- Sumitomo Electric Industries
- GARG INOX
- WA Group
- ANAND ARC
- Tianjin Bridge
- Elisental
- Weld Atlantic
- Changzhou Huatong Welding
- Jinglei Welding
- Shandong Juli Welding
- Huaya Aluminium
- Safra
Aluminum Welding Wires Market Recent Developments
- In October 2022, ESAB launched Warrior Edge 500 CX AND RobustFeed Edge CX, next-generation welding platform for global heavy industrial markets.
- In January 2022, Meltio, a disruptive laser metal deposition technology manufacturer, launched its own range of metal wire materials while maintaining the open materials platform options to accentuate the importance of materials as a key factor of the 3D printing user experience.
Global Aluminum Welding Wires Key Market Trends
- Aside from the use of aluminium welding wires in automotive and transportation, the market has expanded because of an increase in construction projects. Increases in residential and commercial construction projects furthermore contributing to market growth.
Global Aluminum Welding Wires Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global aluminum welding wires market analysis, Asia Pacific will witness significant growth as the product can be utilized in construction materials alongside steel, brick, and cement. The market growth is aided by the wide range of applications for aluminium welding wires. One of the major constraints to the market growth is the brittleness of aluminium welding wires. The welding wires market is undergoing continuous research and development, which is resulting in the advancement of products that are more durable than aluminium welding wires.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 348.09 million |
| Market size value in 2031 | USD 619.26 million |
| Growth Rate | 6.61% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aluminum Welding Wires Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aluminum Welding Wires Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aluminum Welding Wires Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aluminum Welding Wires Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aluminum Welding Wires Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aluminum Welding Wires Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aluminum Welding Wires Market Report Snapshots
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