Welding Powder Market Size is expected to Reach USD 2.65 billion by 2029, Trends, Growth, The Asia Pacific will command the market while expanding at a CAGR of 5.8%: Exactitude Consultancy
Innovations and technological advancements in the automotive industry to cater to the growing demand from customers is expected to create higher demand for welding powder during the forecast period
/EIN News/ -- Luton, Bedfordshire, United Kingdom, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Welding Powder Market.
The Global Welding Powder Market size was worth USD 1.6 billion in 2021. It is expected to reach USD 2.65 billion by 2029, growing at a CAGR of 5.8% during the forecast period (2022–2029).
Powder welding is a process involving the heating of a workpiece with the help of a welding torch. At the same time, a dosage of metal powder is induced into the thermal flame. The metal powder then melts and gives a dense coating, which further creates a strong bond with the metal surface or workpiece by the means of diffusion and surface alloying. In a powder welding assembly, the hopper is attached to the flame torch where the metal powder is fed.
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Increasing use of Welding powder in the mechanical and electronic industry help to market growth
The mechanical industry accounted for the largest share in terms of application and is expected to grow at a CAGR of 30% over the forecast period. The growth can be attributed to increasing demand for metal cutting applications from various industries such as construction, automotive, and marine among others. In addition, favorable government policies regarding infrastructure development are anticipated to boost industry growth over the coming years.
The Asia welding powder market is projected to grow at the highest CAGR during the forecast period.
APAC is the largest producer and consumer of welding equipment, accessories, and consumables across the globe, with almost all major manufacturers and end-use companies present in the region. It has witnessed tremendous growth in the last few years, driven by its growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region.
Recent Development
February 09, 2022- Harris Expands Presence in HVAC/R with Addition of FTP and Shoals Tubular Product Lines
Harris Products Group has strengthened its presence in the HVAC/R manufacturing market with the acquisition of two manufacturers: Fabricated Tube Products (FTP) and Shoals Tubular, Inc. The two companies manufacture copper and aluminum headers, distributor assemblies and other complex brazed assemblies in the United States and Mexico for the HVAC/R sector.
The growing popularity of additive manufacturing or 3D printing technology is anticipated to create new opportunities for the welding powder market players in near future.
The global 3D printing industry is expected to exceed $21B in worldwide revenue in 2020. Much of this growth comes from an explosion in using 3D printing manufacturing. On-demand additive manufacturing of 3D printed spare parts, which also effectively eliminates the need for physical inventory storage, frequently complex distribution, and often high logistics-related costs, will be a big part of the future.
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | USD 1.6 billion in 2021 USD 2.65 billion by 2029 |
| CAGR | 5.8% (2022 - 2029) |
| Base Year | 2021 |
| Forecast Period | 2022 - 2029 |
| Historical Data | 2017 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material Type, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Harris, GENSA Group, NiGK Corporation, H.C. Starck, AMG Superalloys UK, Shanghai Zhongzhou Special Alloy Materials, Tongling Xinxin Welding Materials, Pometon Powder, Xinchang Shibang New Material Co., Grecian Magnesite. |
| Key Market Opportunities | The rising demand for the miniaturization of electronic devices is another factor that is expected to propel market growth over the forecast period. |
| Key Market Drivers |
|
Key Players to Fortify their Positions by Offering New Product Solutions
The growing competition among key players, increasing horizontal and vertical expansion is further expected to the growth of the Welding Powder Market. Key players in Global Welding Powder Market include Harris, GENSA Group, NiGK Corporation, H.C. Starck, AMG Superalloys UK, Shanghai Zhongzhou Special Alloy Materials, Tongling Xinxin Welding Materials, Pomet Rapid urbanization coupled with growing disposable income in Asia Pacific is helping the powder welding market to grow. Latin America, Middle East & Africa, and Eastern Europe are emerging as manufacturing hubs for the powder welding market.on Powder, Xinchang Shibang New Material Co., Shaheen, A-WORKS, A.N. Wallis, Grecian Magnesite
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Key Market Segments: Welding Powder Market
Welding Powder Market by Type, 2022-2029, (In USD Million)
- Ferrous Based
- Silver Based
- Copper Based
- Aluminium Based
- Nickel Based
- Titanium Based
Welding Powder Market by Application, 2022-2029, (In USD Million)
- Shipping Industry
- Mechanical Industry
- Electronics Industry
- Oil Industry
- Coal Industry
- Boiler Industry
Welding Powder Market by Regions, 2022-2029, (In USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Why B2B Companies Worldwide Rely on us to Grow and Sustain Revenues:
- Get a clear understanding of the Welding Powder market, how it operates, and the various stages of the value chain.
- Understand the current market situation and future growth potential of the Welding Powder market throughout the forecast period.
- Strategize marketing, market-entry, market expansion, and other business plans by understanding factors influencing growth in the market and purchase decisions of buyers.
- Understand your competitors’ business structures, strategies, and prospects, and respond accordingly.
- Make more informed business decisions with the help of insightful primary and secondary research sources.
Key Takeaways from Market Study
- By product type, Aluminium and Silver are projected to hold a market volume share of around 60% by 2029.
- The Mechanical segment is anticipated to hold the largest market share of more than 30%.
- By end use, the industrial sector is projected to create an absolute $ opportunity of USD 2.65 billion by 2029.
- By region, Asia pacific and North America are expected to account for more than half of the global market share.
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Irfan Tamboli (Head of Sales) - Exactitudeconsultancy
Phone: + 1704 266 3234
sales@exactitudeconsultancy.com
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