Aluminum Welding Wires Market Size, Share [2024 To 2031]

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The global aluminum welding wires market size was USD 497 million in 2022 and market is projected to touch USD 791.15 million by 2031, exhibiting a CAGR of 5.3% during the forecasting period.

A welding wire is a slim metallic rod that is ignited to generate a heated arc for the purpose of fusing metal pieces together (welding) by rendering the wire soft via hammering or compressing under an applied heat source.

Aluminum has a low density and is light in weight. In the subzero range, aluminum retains good ductility. Furthermore, it resists corrosion, has excellent electrical and thermal conductivity, and has high light and heat reflectivity. Owing to its high quality features, aluminum welding wires is remains in demand for numerous purposes. Thus the

The covid-19 pandemic obstructed the aluminium welding wires market directly worldwide. Due to corona virus transmission in the community, various international governments imposed the lockdown to curb the virus spread in common population. Consequently, it affected numerous business industry’s production, sales, growth and so on. Thus, the global aluminum welding wires market confronted the slowdown in the market demand and supply.

" Significant types and application segments expand market size"

The upsurge in demand for welding wires for repair and maintenance is the key trend driving the global aluminum welding wires market growth. There has been a significant rise in the demand for aluminum welding wires for repair and maintenance applications in countless sectors, specifically the automotive and infrastructure segments. Many organizations are taking several steps to boost repair and maintenance market growth. For instance, the Long Life Bridges project, funded by the EU, contributes public authorities in deciding on the maintenance or repair of bridges by employing new models to accurately calculate the value of bridges. In addition, the increase in vehicle numbers also leads to a higher requirement for maintenance and repair services, driving the demand for aluminum welding wires. Also, digitalization and diverging markets are causing the global automotive industry to grow.

On the basis of type, the market is alienated into pure aluminum welding wire, aluminum magnesium alloy welding wire, Al-Si alloy welding wire.The pure aluminum welding wire is the largest segment.

On the basis of application, the market is divided into transportation industry, shipbuilding industry, appliance industry and others.The transportation industry is the largest segment.

"Rising demand of lightweight vehicles lift market growth "

Many significant factors are presented which drive the market growth such as the increasing demand for aluminum welding wires products in automotive and construction industries. As well as the various properties of aluminum welding wires for instance high strength, lightweight, resistant to corrosion and recyclability make them appropriate in various body parts of a car, resulting in a decrease of fuel consumption which is boosting scope for aluminum welding wires application and is acting as a key element favouring the growth of the market over the forecast period of 2021 to 2028.

The main factors liable for the growth of the demand for lightweight vehicles is expected to rise owing to growing concerns on environmental pollution caused by high fuel consumption, rapid urbanization and wide-ranging usage in automotive, transportation and construction industries.

"Use of welding wires in repairing & maintenance enhance market growth "

Another driving factors is the rising population which is driving demand for construction projects for numerous residential and commercial building and has positively impacting aluminum welding market. The speedily increasing urban population together with an increasing manufacturing sector is also serving the market to grow. Cumulative demand for repair and maintenance drives aluminum welding market also the infrastructure industry require repair and maintenance frequently to provide durability and sustainability to the structure thus raising the market growth.

"Fluctuating the LME price confine purchase internationally"

The major challenge obstructing the aluminum welding wires market growth is the fluctuating LME prices influence premium and production plans. The premiums are also affected by price change as they are directly related to the LME prices. In April 2021, According to the London Metal Exchange (LME), the price of aluminum was $2,344.01 per ton. The current trend is again moving toward the recession period when prices were low. Due to this, LME price fluctuations have a significant impact on the production volumes and profit margins of vendors.

"Developing countries mounting the demand in Asia Pacific "

In context of regional insights, Asia Pacific is the wildest growing market in terms of aluminum welding wires market over the forecast period. Asia Pacific holds the largest market share of 31% in 2018 with CAGR of 7%. Meanwhile, China alone holds the 10% of the market share. The demand for aluminum welding wires in the sector of transportation, construction, rapid growing infrastructure & development particularly, in India and China carry out the collective market growth in the Asia Pacific region. Therefore, these aspects are projected to provide flattering conditions for the growth of the global aluminum welding wires market share in forthcoming years.

"Technology advancement of top companies hold the market prevalence "

The report comprises the market’s leading brands and prominent key players’ industry position score and market performance score, market evaluation, competitive tactics, product manufacturing, the top companies’ strategies, comprehensive landscape, advanced development, and innovations formulate the market’s shares and growth across different regions. The market prominent players such as ESAB (Colfax Corporation), Lincoln Electric, ITW, Sumitomo Electric Industries, GARG INOX, Novametal Group, WA Group, ANAND ARC, KaynakTekniğiSanayi ve TicaretA.Ş, Tianjin Bridge along with others are swaying the market development and holds the market shares. It also indicates key players are anticipated to have an exponential growth rate of demand and supply in the global aluminum welding wires market worldwide.

May 2019: Linclon Electiv partnered with the tooling U-SME to create a welding curriculum platform that is more user-friendly and accessible for training solutions with an intention to serve welding instructors and educational institutions.

October 2018: ESAB launched its Quick Weld Productivity Analyzer (QWPA), a calculator for total weld cost analysis in Atlanta. The purpose of this online tool is to assist fabricators in managing the cost impact of a variety of production aspects.

This market is based on the following strictures: region, application, process technology, end-user industries, financial setups, key products, and services offered to customers. In this research report various aspects have been mentioned based on research methodologies which describe price trend analysis of target companies, collection of data, statistics, target competitors, import export and grey area result information, and previous years’ records on the basis of market sales, purchases, and profit of the aluminum welding wires market.

Moreover, the report concentrates on a comprehensive analysis of the “global aluminum welding wires market” and makes forecasts about its expansion in the near future. Market research which offers insights into all its features of all significant factors influencing the markets for instance small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players in detail and provides data on the market value, revenue demand, supply, and others.

Market Size Value In

US$ 497 Million in 2022

Market Size Value By

US$ 791.15 Million by 2031

Growth Rate

CAGR of 5.3% from 2022 to 2031

Forecast Period

2024-2031

Base Year

2023

Historical Data Available

Yes

Regional Scope

Global

Segments Covered

Type and Application

Aluminum Welding Wires Market is expected to touch USD 791.15 million by 2031.

The aluminum welding wires market is expected to exhibit a CAGR of 5.3% by 2031.

The widely usage of aluminum in transportation industry, shipbuilding industry, appliance industry, and constructions sites are the driving factors of the aluminum welding wires market.

ESAB (Colfax Corporation), Lincoln Electric, ITW, Sumitomo Electric Industries, GARG INOX, Novametal Group, WA Group, ANAND ARC and others are the leading companies operating the aluminum welding wires market.