New York, NY -- (SBWire) -- 04/08/2021 --The Global Aluminum Welding Wires Market is forecast to reach USD 474.5 Million by 2026, according to a new report by Reports and Data. Various factors has resulted in boosting the aluminum welding wires market. In recent years significant developments in the automotive industry are observable. Such developments in the automotive industry have resulted in an increased use of aluminum welding wires that results in positively impacting the growth of aluminum welding wires market. Continuous improvement in the welding wire market can be noticed. Due to such development in the welding wires market, Sr and Ti have been included in ER4043 aluminum alloy welding wire. The mentioned developments in the welding wire market result in positively impacting the market growth of this industry.
Aluminum welding wires are associated with features like strong corrosion resistance properties and recyclability. The presence of these qualities in aluminum welding wires promotes the growth of the industry. It is also associated with diverse applicability ranging from automotive and transportation to construction projects, transformers and reactors, and refrigerators among others. Such different applicability of aluminum welding wires has a positive impact on the market growth of the industry.
In regards to the region, Asia Pacific dominates the market due to development in the transportation sector along with the rise in the automotive industry in this region. A combination of these two factors makes the aluminum welding wires market relevant to this region that result in its market dominance.
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Further key findings from the report suggest
The aluminum welding wires market held a market share of USD 283.6 Million in the year 2018. It is forecasted to grow at a rate of 6.6% during the forecast period.
In addition to the applicability as mentioned above of aluminum welding wires, it can also be used along with brick, cement, and steel in construction material. Diverse applicability of aluminum welding wires boosts the growth of this market.
In the context of product type, aluminum-magnesium alloy welding wire segment dominates the market. By the year 2026, it is forecasted to generate the highest revenue of USD 232.5 Million with a CAGR of 6.8% during the forecast period. Its high strength as compared to other product types and effectiveness in structural use contributes to its market dominance.
In the processing segment, the Bayer process dominates the market. It is forecasted to hold 57% of the market with a growth rate of 6.8% during the forecast period — the significance of the process in collecting bauxite results in its market dominance.
In regards to the welding process, GTAW/TIG dominates the market that is forecasted to hold 42% of the market by 2026 with a growth rate of 6.9% during the forecast period. Factors like lack of requirement of mechanical wire feeding associated with the welding process that helps in reducing the risk associated with mechanical wire feeding have contributed to its market dominance.
Among the various end-users of aluminum welding wires, automotive & transportation segment leads the market. It is forecasted to generate the highest revenue of USD 156.6 Million by 2026 with a growth rate of 7.0% during the forecast period. Factors like an increase in demand for lightweight vehicles and rigid government regulations on emission level have resulted this segment in dominating the aluminum welding market.
The Asia Pacific region holds the largest market share. It is forecasted to generate the highest revenue of USD 151.8 Million by 2026 with a growth rate of 7.0% during the forecast period. Factors like the rise in population and development in construction projects along with the application of aluminum welding wires in these projects have resulted in the dominance of this region in the market.
Key participants include Hobart, Bridge Welding Materials, Dongyuehengxing, ELGA, BOC (Linde), Huaheng Aluminum Welding Wire, Safra, ESAB, Lincoln Electric, Chuanwang Welding Consumables.
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For the purpose of this report, according to Product type, Processing, Welding process, End-user, and Region:
Product type Outlook (Revenue, USD Million; 2016-2026) (Kilo Tons)
Aluminum-Magnesium Alloy Welding Wire
Pure Aluminum Welding Wire
Al-Si Alloy Welding Wire
Processing Type Outlook (Revenue, USD Million; 2016-2026) (Kilo Tons)
Bayer process
Electrolysis
Welding process Type Outlook (Revenue, USD Million; 2016-2026) (Kilo Tons)
GTAW/TIG
GMAW/MIG
Laser Beam Welding and Electron Beam Welding
Resistance Welding
End-user Outlook (Revenue, USD Million; 2016-2026) (Kilo Tons)
Construction
Automotive & Transportation
Air conditioning
Transformers and reactors
Refrigerator
Others
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Regional Outlook (Revenue in USD Billion; 2017–2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Table Of Content -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Aluminum Welding Wires Market Segmentation & Impact Analysis
4.1. Aluminum Welding Wires Market Segmentation Analysis
4.2. Industrial Outlook
……………
Chapter 10. Competitive Landscape
10.1. Market Revenue Share By Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Market positioning
10.5. Strategy Benchmarking
10.6. Vendor Landscape
Chapter 11. Company Profiles
11.1. Dongyuehengxing
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Technology Insights
11.1.4. Strategic Initiatives
11.2. Hobart
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Technology Insights
11.2.4. Strategic Initiatives
11.3. ELGA
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Technology Insights
11.3.4. Strategic Initiatives
11.4. Bridge Welding Materials
11.4.1. Company Overview
11.4.2. Financial Performance
11.4.3. Technology Insights
11.4.4. Strategic Initiatives
11.5. BOC (Linde)
11.5.1. Company Overview
11.5.2. Financial Performance
11.5.3. Technology Insights
11.5.4. Strategic Initiatives
Continued……….
The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Aluminum Welding Wires market and its competitive landscape.
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Aluminum Welding Wires Market Size, Industry Growth and Demand Analysis with Top Industry Players - Hobart, Bridge Welding Materials, Dongyuehengxing and More
The report studies the historical data and offers crucial forecast estimations to assist the readers, investors, stakeholders, and businesses to formulate strategic investment plans