Transparency Market Research has released a new market report titled “Welding Consumables Market– EMEA Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” According to the report, the EMEA welding consumables market was valued at US$ 3.38 Bn in 2013 and is anticipated to reach US$ 4.55 Bn by 2020, expanding at a CAGR of 4.3% between 2014 and 2020. In terms of volume, the welding consumables market stood at 1,236.2 kilo tons in 2013.
In terms of revenue, welding consumables account for the largest share among the three key segments of the welding industry: welding consumables, welding equipment and welding services. Growth in end-use industries such as automobile and oil & gas has been boosting the demand for welding equipments and welding consumables. Europe is likely to experience moderate growth in the welding consumables market in the next few years in EMEA. On the other hand, emerging economies in the Middle East and Africa are projected to grow significantly, due to rising investments in end-use industries in the regions. However, lack of skilled labor in the welding industry, especially in developed regions such as Europe, has been hampering the growth of the industry.
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Demand for welding consumables, especially electrodes, is in high in Africa and the Middle East due to low cost and high usage of manual welding in the regions. However, wires and fluxes are preferred over electrodes in developed countries such as Germany, Spain, UK, Italy and Poland. Factors affecting preference of welding consumables include less wastage, suitability for automatic welding systems, productivity and usage among different welding technologies. Stick electrodes accounted for more than 40% of the welding consumables market in EMEA in 2013. These are anticipated to be the fastest growing product segments in the next few years. The SAW wires and fluxes segment is projected to witness moderate growth by 2020.
Key application sectors of welding include automobile & transportation, building & construction, shipbuilding, oil & gas, and repair & maintenance. Growth of end-use industries is likely to boost demand for welding technologies. Expansion in automobile and oil & gas sectors is anticipated to be the major driving factor for welding consumables in the EMEA region. Building & construction is another key application of welding; it accounted for more than 18% of the welding consumables market in EMEA in 2013. Other applications such as repair & maintenance, pipelines and storage tanks are estimated to experience moderate growth in the next few years.
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Europe accounted for more than 70% of the EMEA welding consumables market in 2013. However, the welding consumables market in Europe is expected to reach saturation limits. Rise in usage of welding technologies in automobile and other end-use industries would lead to moderate growth in the region. The Middle East accounted for a healthy share of the welding consumables market in EMEA in 2013, due to increasing investments in the oil & gas sector in the region.
Market leaders such as ESAB, Lincoln Electric, ITW and Voestalpine AG have strong presence in the EMEA region. ESAB dominated the welding consumables market in EMEA with approximately 15% share in 2013. Additionally, comparatively smaller companies such as Air Liquide, Welding Alloys Ltd., Valk Welding B.V. and Afrox operate in the region.
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The report segments the welding consumables market in EMEA as:
Welding Consumables Market - Product Segment Analysis
- Stick electrodes
- Solid wires
- Flux-cored wires
- SAW wires and fluxes
- Others (Including gases, etc.)
Welding Consumables Market - Application Analysis
- Automobile & transportation
- Building & construction
- Others (Including repair and maintenance, etc.)
Welding Consumables Market - Regional Analysis
- The Middle East
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