Welding Powder Market Size is expected to Reach USD 2.65 billion by 2029, Trends, Growth, The Asia Pacific will command the market while expanding at a CAGR of 5.8%: Exactitude Consultancy

2022-09-24 03:27:16 By : Ms. Pressure Gauge

Innovations and technological advancements in the automotive industry to cater to the growing demand from customers is expected to create higher demand for welding powder during the forecast period

Luton, Bedfordshire, United Kingdom, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Welding Powder Market.

The Global Welding Powder Market size was worth USD 1.6 billion in 2021. It is expected to reach USD 2.65 billion by 2029, growing at a CAGR of 5.8% during the forecast period (2022–2029).

Powder welding is a process involving the heating of a workpiece with the help of a welding torch. At the same time, a dosage of metal powder is induced into the thermal flame. The metal powder then melts and gives a dense coating, which further creates a strong bond with the metal surface or workpiece by the means of diffusion and surface alloying. In a powder welding assembly, the hopper is attached to the flame torch where the metal powder is fed.

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Increasing use of Welding powder in the mechanical and electronic industry help to market growth

The mechanical industry accounted for the largest share in terms of application and is expected to grow at a CAGR of 30% over the forecast period. The growth can be attributed to increasing demand for metal cutting applications from various industries such as construction, automotive, and marine among others. In addition, favorable government policies regarding infrastructure development are anticipated to boost industry growth over the coming years.

The Asia welding powder market is projected to grow at the highest CAGR during the forecast period.

APAC is the largest producer and consumer of welding equipment, accessories, and consumables across the globe, with almost all major manufacturers and end-use companies present in the region. It has witnessed tremendous growth in the last few years, driven by its growing population, favorable investment policies, growing economies, and government initiatives directed at promoting electronics and automobile industries in the region.

February 09, 2022- Harris Expands Presence in HVAC/R with Addition of FTP and Shoals Tubular Product Lines

Harris Products Group has strengthened its presence in the HVAC/R manufacturing market with the acquisition of two manufacturers: Fabricated Tube Products (FTP) and Shoals Tubular, Inc. The two companies manufacture copper and aluminum headers, distributor assemblies and other complex brazed assemblies in the United States and Mexico for the HVAC/R sector.

The growing popularity of additive manufacturing or 3D printing technology is anticipated to create new opportunities for the welding powder market players in near future.

The global 3D printing industry is expected to exceed $21B in worldwide revenue in 2020. Much of this growth comes from an explosion in using 3D printing manufacturing. On-demand additive manufacturing of 3D printed spare parts, which also effectively eliminates the need for physical inventory storage, frequently complex distribution, and often high logistics-related costs, will be a big part of the future.

USD 1.6 billion in 2021 USD 2.65 billion by 2029

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Material Type, End-Use Industry and Region

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Harris, GENSA Group, NiGK Corporation, H.C. Starck, AMG Superalloys UK, Shanghai Zhongzhou Special Alloy Materials, Tongling Xinxin Welding Materials, Pometon Powder, Xinchang Shibang New Material Co., Grecian Magnesite.

The rising demand for the miniaturization of electronic devices is another factor that is expected to propel market growth over the forecast period.

The maximum opportunities for powder welding manufacturers, owing to industrial expansion along with the growing construction and automotive industry.

Rapid urbanization coupled with growing disposable income in the Asia Pacific is helping the powder welding market to grow.

  Key Players to Fortify their Positions by Offering New Product Solutions

The growing competition among key players, increasing horizontal and vertical expansion is further expected to the growth of the Welding Powder Market. Key players in Global Welding Powder Market include Harris, GENSA Group, NiGK Corporation, H.C. Starck, AMG Superalloys UK, Shanghai Zhongzhou Special Alloy Materials, Tongling Xinxin Welding Materials, Pomet Rapid urbanization coupled with growing disposable income in Asia Pacific is helping the powder welding market to grow. Latin America, Middle East & Africa, and Eastern Europe are emerging as manufacturing hubs for the powder welding market.on Powder, Xinchang Shibang New Material Co., Shaheen, A-WORKS, A.N. Wallis, Grecian Magnesite

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Key Market Segments: Welding Powder Market

Welding Powder Market by Type, 2022-2029, (In USD Million)

Welding Powder Market by Application, 2022-2029, (In USD Million)

Welding Powder Market by Regions, 2022-2029, (In USD Million)

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Key Takeaways from Market Study

By product type, Aluminium and Silver are projected to hold a market volume share of around 60% by 2029.

The Mechanical segment is anticipated to hold the largest market share of more than 30%.

By end use, the industrial sector is projected to create an absolute $ opportunity of USD 2.65 billion by 2029.

By region, Asia pacific and North America are expected to account for more than half of the global market share.

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