What is the global market size of Aluminum Welding Wires Market?

Aluminum Welding Wires Market size was valued at USD 348.09 million in 2021 and is poised to grow from USD 371.10 million in 2022 to USD 619.26 million by 2030, at a CAGR of 6.61% during the forecast period (2023-2030).

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 2024-2031

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.

Global Aluminum Welding Wires Market Report Snapshots

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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. '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'

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.

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.

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.

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Global Aluminum Welding Wires Market Insights

Global Aluminum Welding Wires Market Report Snapshots

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