U.S. Welding Consumables Market Size, Share, Growth Analysis, By product(Stick Electrodes, Solid Wires), By Technology(Arc Welding, Resistance Welding) - Industry Forecast 2024-2031

U.S. Welding Consumables Market size was valued at USD 2.5 billion in 2022 and is poised to grow from USD 2.6 billion in 2023 to USD 3.59 billion by 2031, at a CAGR of 4.1% during the forecast period (2024-2031).

The flux and filler metals used in the welding process are known as welding consumables. While flux keeps heated metals from oxidizing during the melting process, filler metals are used to create a strong junction between two metals. The primary raw materials utilized in the production of welding consumables are typically aluminum, nickel, copper, rutile, and ilmenite. These consumables guarantee economical welding, shield the molten weld from airborne impurities, and stop the formation of porosity in the weld pool. They are therefore extensively utilized in the shipbuilding, aircraft, automotive, and energy sectors.

The success of vital businesses including construction, railroads, and defense is largely dependent on welding. Consumables for welding are used to fix and prolong the life of manufactured goods. In the welding business, consumables like fluxes, flux-cored wires, SAW wires, solid wires, and stick electrodes are utilized to guarantee a strong bond between two metals. Additionally, it shields the molten weld from airborne impurities. Advanced welding technologies, such as hybrid, MIG & TIG, resistance spot, laser beam welding, and others, are being employed by manufacturers and are gaining popularity in the US market. Furthermore, demand for these consumables throughout the welding sector is predicted to increase during the forecast period due to increased steel consumption as well as the revival of the American oil, gas, energy, automotive, and heavy engineering sectors. Government initiatives in the industrial sector have made it possible for producers to enhance their welding and fabrication procedures. On the other hand, growing investments in the steel sector are giving manufacturers new chances.

Top-down and bottom-up approaches were used to estimate and validate the size of the U.S. Welding Consumables Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

U.S. Welding Consumables Market Segmental Analysis

The U.S. welding consumables market is segmented based on the Product, technology and region. Based on product, the U.S. Welding Consumables Market is segmented into Stick Electrodes, Solid Wires, Flux-cored Wires and Saw Wires & Fluxes. Based on technology, the U.S. Welding Consumables Market is segmented into Arc Welding, Resistance Welding, Oxy-fuel Welding and Laser Beam Welding. Based on Region U.S. Welding Consumables Market is categorized into North America, Europe, Asia-Pacific, Latin America and MEA.

Drivers of the U.S. Welding Consumables Market

The market will expand due to a rise in demand for welding consumables across all industry verticals. The aerospace, railroad, construction, shipbuilding, and defense industries are seeing a sharp increase in the usage of SAW and fluxes, stick electrodes, solid wires, and other materials. This is because, even when welding heavy materials and alloys, these items are usually coated with copper to avoid oxidation and corrosion. As a result of growing urbanization, infrastructure, trains, and construction are all growing quickly. For instance, according to AGC, the top construction association in the US, the US construction sector builds projects worth close to USD 1.3 trillion annually. In addition, the federal government has made billion-dollar investments in the railway sector in California and the United States as a result of procurement rules for initiatives including high-speed intercity passenger rail and the Next-Generation Corridor. It is anticipated that the need for consumables would rise across a range of industry verticals as these main industries expand.

Restraints in the U.S. Welding Consumables Market

A significant barrier to the expansion of the welding consumables market is the acute lack of qualified welders in a variety of industries. The American Welding Society projects that by 2024, there will be 400,000 fewer welders than there are currently. In addition, a lack of qualified welders is lowering the caliber of the final product. For instance, because to flaws in the pump welds, Ford was compelled to recall 12,000 cars in June 2018. In a different instance, cracks in the missile tubes led the United Kingdom to delay the launch of its nuclear missiles in August 2018. The lack of qualified welders will therefore probably hinder the need for welding supplies in the upcoming years.

Market Trends of the U.S. Welding Consumables Market

In order to reduce fuel consumption, emissions, and noise pollution, automotive suppliers nationwide are lowering the weight of their vehicles by substituting fabric materials for metal parts. This is helping to promote in-line production processes. In addition, the market players are using advanced welding technologies as friction, oxyfuel, MIG & TIG, laser beam, resistance spot, and welding consumables made especially for these technologies. For instance, the Lincoln Electric Company offers stainless steel metal-cored wires and aluminum MIG wires to automakers that are especially made for exhaust systems used in automobiles, such as truck panels, body panels, and catalytic converters. Therefore, the welding procedures described above are helping to propel the market forward.