The global welding consumables market is witnessing remarkable growth prospects driven by the increasing adoption of welding in critical end-use sectors like manufacturing, marine, automotive, and oil and gas. Welding consumables, known for their precise and secure metal joining capabilities, are gaining popularity across diverse industries. Additionally, the market is experiencing a surge in demand due to the flourishing electric vehicle (EV) and automotive sectors, coupled with the rising need for welding robots to enhance efficiency and precision.
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According to the International Federation of Robotics, the industrial robotics sector is poised for substantial expansion, with the number of operating robots under industrial robotics expected to surpass 3.8 million units by 2021, representing an 80% increase from the current figures. The growing demand for welding automation technologies in the manufacturing sector is a key driving factor for this growth.
Notwithstanding the positive outlook, the welding consumables market faces certain challenges, including the slow adoption of contemporary welding technology in developing nations, environmental concerns surrounding welding consumables, and sluggish growth in the shipbuilding and aerospace sectors. Additionally, the unpredictability of raw material prices is impacting market expansion.
The COVID-19 pandemic has significantly affected the welding consumables market, disrupting manufacturing industries, labor markets, and the global economy. Lockdowns, travel restrictions, and business closures have disrupted supply chains, technology events, and workplace operations, leading to a market collapse induced by the pandemic.
Despite these challenges, the welding consumables market is set to embrace robust growth with the increasing demand for smart materials. These eco-friendly and energy-efficient materials enable the mixing of dissimilar metals without compromising their strength, corrosion resistance, or performance attributes. Smart materials equipped with built-in computer chips enable enhanced weld life tracking and multifunctional design, leading to reduced energy consumption and pre- and post-heating processes.
The automotive industry’s continuous demand for welding consumables remains a significant driver for market expansion, as the sector produces lightweight and high-quality car parts. Furthermore, government initiatives aimed at infrastructure development and projects in the residential and commercial sectors create lucrative opportunities for the welding consumables market.
Asia Pacific is expected to dominate the welding consumables market, particularly in China, India, and South Korea, with established and emerging welding consumables businesses driving regional growth. The presence of leading domestic companies in the manufacturing, construction, and technology sectors, investing abroad, further supports market expansion.
Despite challenges posed by the COVID-19 pandemic and other factors, the welding consumables market is poised for robust growth, driven by advancements in smart materials and robotic welding solutions.
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