The global welding materials market is growing on account of the thriving growth of application segments such as transportation, building and construction, marine, and automobiles. The growing urbanization in developing nations will drive the growth of this market. The increasing infrastructure development in Asia Pacific will also fuel the growth of the welding materials market. The technological advancements in the automobile industry will also aid the growth of this market. The automotive industry makes use of welding materials in various processes, including the manufacturing of the high quality, light-weight, and fuel efficient components.
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One of the latest trends in the global welding materials market is the use of new materials, which results in reduced weight of the overall finished products. This will drive the welding materials market. The manufacturing of new welding equipment and materials will push the growth of this market. On the other hand, the use of welding products can pose safety and health issues among operators and this will restrict the growth of the market as regulatory bodies impose restriction on their use. The American National Standards (ANSI) has stated that welding can be a potential threat for operators as it may cause injury and illness.
The market is characterized by the supremacy of large players. As this market is capital intensive, new entrants and local vendors face a tough challenge surviving in the market. Large players offer quality, functionality, and good services and give competition to local players.
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Welding materials market may be mature owing to their use ever since industrial revolution, however, the market is still experiencing technological advancements, which is ensuring a continued growth of this industry. Welding processes are used extensively across various end-use industries such as automobiles, manufacturing, marine, offshore, and building and construction. This is leading to a growth in the global welding materials market. The process of welding makes use of coalescence to join metals or thermoplastics. The welding materials market primarily comprises welding equipment, accessories, and welding consumables. Some of the materials used for welding process, include solid wires, stick electrodes, SAW wires and fluxes, flux-cored wired, and gases.
This post was originally published on Space Market Research