Welding Materials Market to Reach USD 21.66 Billion by 2032, Owing to Booming Infrastructure Projects and Demand for High-Performance Fabrication Solutions | Report by SNS Insider
The Welding Materials Market is growing due to increasing demand across the construction, automotive, oil & gas, and heavy machinery sectors, driven by urbanization, automation, and advancements in high-strength alloy welding technologies.
Austin, April 24, 2025 (GLOBE NEWSWIRE) — The Welding Materials Market was estimated at USD 14.93 billion in 2023 and is projected to reach USD 21.66 billion by 2032, growing at a CAGR of 4.22% over the forecast period (2024–2032).
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Welding Materials Market. The fast growth in the market is facilitated by growing dependence on industrial automation, digital welding solutions, and lightweight materials in high-strength applications. The market is roaring from building new infrastructure in developing countries to developing advanced welding alloys for aerospace and automotive environments. Increased focus on renewable energy development, offshore oil rigs, and smart factories also underpins an expansion.
In the U.S., the market is forecast to grow from USD 2.43 billion in 2023 to USD 3.64 billion by 2032, registering a CAGR of 4.59%. The demand from construction, automotive, and manufacturing industries kept this steady increase mentioned above. In addition to this, rising technologies and strong infrastructure development investments are adding fuel to the market growth.
Key Players:
- Colfax Corporation (Welding consumables, equipment, and automation solutions)
- Air Liquide S.A. (Industrial gases for welding and cutting applications)
- Air Products & Chemicals (Shielding gases, welding gas mixtures)
- Illinois Tool Works (MIG/TIG welding wires, electrodes, consumables)
- Linde PLC (Shielding gases, welding accessories, consumables)
- Lincoln Electric Holdings (Welding electrodes, wires, fluxes, power sources)
- Tianjin Bridge Welding Materials Group (Welding electrodes, flux-cored wires)
- Kobe Steel (Covered electrodes, solid wires, flux-cored wires)
- ESAB (Part of Colfax) (Electrodes, wires, welding fluxes, gas equipment)
- Fronius International GmbH (Welding wires, filler materials, welding systems)
- Böhler Welding (voestalpine AG) (Filler metals, TIG/MIG/MAG wires, rods)
- KISWEL Co., Ltd. (Flux-cored wires, MIG/TIG wires, electrodes)
- Ador Welding Ltd. (Welding electrodes, MIG/MAG wires, fluxes)
- WeldWire Company, Inc. (Stainless steel welding wire, TIG/MIG wire)
- Hyundai Welding Co., Ltd. (SMAW electrodes, GMAW wires, SAW wires & flux)
- Zika Industries Ltd. (Welding rods, MIG/TIG wires, brazing alloys)
- Sandvik Materials Technology (Alleima) (Stainless welding wire, strip electrodes)
- The Harris Products Group (Brazing alloys, welding alloys, fluxes)
- ITW Welding (Hobart, Miller brands) (Welding wires, power sources, consumables)
- China Welding Material Company (CWMC) (Welding electrodes, wires, fluxes)
Welding Materials Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 14.93 Billion |
| Market Size by 2032 | USD 21.66 Billion |
| CAGR | CAGR of 4.22% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Electrodes & Filler Materials, Fluxes & Wires, Gases) • By Technology (Arc Welding, Resistance Welding, Oxy-Fuel Welding, Others) • By End-Use Industry (Transportation, Building & Construction, Heavy Industries, Others) |
| Key Drivers | • Rapid urbanization and infrastructure development, especially in emerging economies, are driving strong demand for welding materials in construction and related sectors. |
Core Components of Growth: Filler Materials, Arc Welding, and Heavy Industry Demand
By Type: The electrodes & filler materials segment dominated with a market share of over 52% in 2023. Welding consumables (metals, applied materials) are required to perform welding functions as essential consumables, which are used to form strong connector joints. As a result, it is a property that is required for the use of metals in industries such as automotive, shipbuilding, construction, and aerospace. Additionally, technological advancements in filler materials that are pushing the industry towards high-grade and precision welding are giving this segment a firm grip.
By Technology: The arc welding segment accounted for over 38% of the global market in 2023. There is a good reason this is a popular method: it is very simple, flexible, and inexpensive, suitable for almost any type and thickness of material. That is the reason why industries like arc welding are better because by using this method, uniform and strong joints can be formed in a wide range of environmental conditions. Based on industrial applications, these devices are customized, due to which sub-technologies like SMAW (shielded metal arc welding), GMAW (gas metal arc welding), etc, are preferred in large numbers.
By End-Use Industry: Heavy industries held a leading market share of over 42% in 2023, owing to continuous demand from power generation, shipbuilding, and energy sectors. A lot of these industries are major and currently have complicated operations that require strong welds. Owing to the continuous industrialization and infrastructure development within the emerging economies, heavy industries are expected to continue to be the leading segment in the market over the forecast period.
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Asia-Pacific Leads with Strong Industrial Momentum, North America Surges Ahead as Fastest-Growing Welding Materials Hub
In 2023, Asia-Pacific emerged as the dominant region with over 42% market share. With the undeniable momentum and magnitude of Urbanization, Infrastructure mega-works, and vibrant automotive and Construction Sectors, this gives us the Urban Bet. Countries like China, India, and Japan are pressing ahead with investment in industrial automation, renewables rollout, and military industry production. The primary consumer region of welding materials is still Asia Pacific, where supportive government policies, a low-cost skilled workforce, and availability of raw materials continue to boost the market. Further price increases on fabricated goods and steel are also contributing to the higher mark.
North America is expected to be the fastest-growing market due to the high degree of technology deployment, primarily in automated and robotic welding systems. Aside from the positive attitude exhibited in the region towards welding being integrated with artificial intelligence, government-funded infrastructure programmes are laying the groundwork for a vibrant target area. Furthermore, the rising exploration of shale gas, renewable energy installation, and aerospace manufacturing is increasing the demand for high-performance welding materials. Innovation-inspired mergers and partnerships are also improving local business competitiveness and supply chain resilience.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Welding Materials Market Segmentation, By Type
8. Welding Materials Market Segmentation, By Technology
9. Welding Materials Market Segmentation, By End-Use Industry
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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