10 Profitable Industries to Start a Business
MIG Welding Wire Manufacturing Business. Production of Metal Inert Gas (MIG) Welding Wire. Welding Consumables Manufacturing Industry
Metal Inert Gas (MIG) Welding (also known as Gas Metal Arc Welding [GMAW]) is an arc welding technique in which a consumable electrode is used to weld two or more work pieces. Welding wires are primarily used in arc welding and oxy-fuel welding technologies.
MIG Welding Wire is widely used in petrochemical industry. This welding wire is broadly demanded in the market for its wide usage & quality. This MIG Welding Wires is fitted with genuine parts to ensure higher durability and efficiency. These are designed to be used for various industrial applications. Known for their easy usage technique, these MIG Wires are appreciated for their superior quality.
Mild steel solid wires are usually plated with copper to prevent oxidation, aid in electrical conductivity and help increase the life of the welding contact tip.
Following are the application areas of MIG Welding Wires:
- Automobile Body
- LPG Gas Cylinders
- Boilers
- Pressure Vessels, Heat Exchangers (Stainless Steel, Duplex Stainless Steel, carbon steel)
- Cryogenic (low temperature) as well as High temperature applications
- Automotive parts
- Transport Industries
- Poles & Steel Towers
- Steel furniture
- Scaffoldings
- Gratings & all other welding in steel fabrication
- Copper base alloys and Nickel base alloys
- Shipbuilding industry
- Steel and pressure vessel construction
- Pipeline work
- Automobile industry
- Construction industry
- Mechanical Engineering industry
- Fire Works Industry
- Automobile Silencers
- Petrol/Diesel/Gas Tanks, Scooter
- Cycle spare parts & accessories
The global welding wires market is expected to experience steady growth during the forecast period owing to demand from the automotive and construction sector. The global welding wires market is expected to be impacted significantly due to the positive outlook of the construction industry.
Global welding wires market by the automotive segment: The automotive sector has been a major determinant behind various technological upgrades in welding equipment and the overall process. The presence of stringent requirements for quality, reliability, and precision has led to the incorporation of robotics and automation technologies in welding processes in the automotive sector, resulting in the growth of the global welding wires market by the automotive segment.
Global Welding Wire Market, By Application
The worldwide market for Welding Wires & Welding Electrode is expected to grow at a CAGR of roughly 2.5% over the next five years, will reach 21700 million US$ in 2024, from 18700 million US$ in 2019. Welding Wires & Welding Electrode downstream application is very wide. Welding Wires & Welding Electrode has acquired increasing significance in fields of Automotive. The Welding Wires & Welding Electrode market is mainly driven by growing demand for Automotive and Construction.
One driver in the market is positive outlook of the global construction sector. The global welding wires market is expected to be impacted significantly due to a positive outlook of the overall construction industry. Welding consumables, such as wires and stick electrodes, are used extensively in the construction industry, especially for the welding of structural steel.
Some of key manufacturers included are Colfax, Hyundai Welding, Illinois Tool Works (ITW), Lincoln Electric, Sandvik, National Standard, Hobart Brothers, Jiangsu ZhongJiang Welding Wire, Saarstahl, Sumitomo Electric, Luvata, Haynes International, LaserStar, Harris Products, BOC, Ador Fontech, Magmaweld, The Indian Steel & Wire Products (ISWPL), WeldWire, Voestalpine, IABCO, Gedik Welding, Ceweld Nederland, KEI, Kobe, Daido, D&H Secheron & Ador Welding
The Indian Welding Consumables Market:
In India, welding contributes significantly to the GDP in several ways, such as welding intensive industries, auxiliary products, complementary goods, employment, and user industries.
The Indian welding consumables market will be worth INR 45.37 bn by 2020. On the basis of type of welding consumables, the demand for wires and fluxes is expected to be high on account of their high performance. They also have several benefits including suitability for outdoor work, use in automatic welding systems, low wastage, and high productivity. The flux cored wires segment is predicted to be the fastest growing segment in the years to come. By application, the automotive and transportation sector has been leading. However, it is the power sector which will expand at the fastest pace. Moderate growth is also forecasted for marine and wear plate applications.
As welding consumables have their applications across industries such as oil and gas, marine, power generation, construction and building, transportation, and automobile, their demand is witnessing a steady increase with the growth of these industries. In fact it can be said that the welding consumables market is highly dependent on consumption of steel by several industries.
In India, the welding industry is composed of numerous large, medium and small manufacturers of welding consumables. The international players in the welding consumables market in India are: ESAB India Limited, Lincoln Electric Company Pvt. Ltd and Voestalpine AG.
Welding Consumables Market Overview:
The Global Welding Consumables Market was valued at $12,405 million in 2016, and is expected to reach at $18,286 million by 2023, registering a CAGR of 5.7% from 2017 to 2023. Welding is a reliable, precise, high-tech, and cost-effective method for joining materials, such as metals and alloys, efficiently in various manufacturing industries. These consumables are flux & filler materials used in welding industry and are generally used in arc welding processes.
Rapid growth in automobile industry, technological advancements in marine and power generation sectors, rising demand for efficient welding consumables owing to increasing infrastructure in industrial processes are some of the key factors expected to pave the market growth for the welding consumables market in near future.
Wide-scale applications of welding consumables in various industries such as automotive, construction and building infrastructure, oil and gas industries are swelling the demand for welding consumables across the globe. Further, introduction of various advanced welding techniques and rise in adoption of these techniques by various end-use industries to offer the products with high-strength and load-bearing capacity. Emergence of industrial automation and automobile industries, huge investment in automotive sector and rising concern towards quality product, thus increase the demand for welding consumables in this sector. Global Welding Consumable Market is classified, by equipment into welding electrode and filler metal equipment and oxy-fuel gas equipment.
See more