NEWS

Welding Materials Market Growth

The global welding materials market is projected to reach $21.66 billion by 2032, growing at a CAGR of 4.22% from 2024 to 2032. The market growth is driven by increasing demand from construction, automotive, oil & gas, and heavy machinery sectors, fueled by urbanization, automation, and advancements in high-strength alloy welding technologies. The market is also benefiting from growing infrastructure development, renewable energy projects, and smart factories. The electrodes & filler materials segment dominated the market in 2023, accounting for over 52% of the market share, while arc welding technology accounted for over 38% of the market share. Heavy industries held a leading market share of over 42% in 2023, driven by continuous demand from power generation, shipbuilding, and energy sectors. Key players in the market include Colfax Corporation, Air Liquide S.A., Lincoln Electric Holdings, and Kobe Steel, among others. The US market is expected to grow from $2.43 billion in 2023 to $3.64 billion by 2032, registering a CAGR of 4.59%.