Increase in automotive industries, rise in demand for lightweight vehicles, and diverse applicability of Aluminum welding are significant factors promoting Aluminum welding Market.
The Global Aluminum welding Market is forecast to reach USD 544.5 Million by 2028, according to a new report by Reports and Data.
Various factors has resulted in boosting the Aluminum welding market. In recent years significant developments in the automotive industry are observable. Such developments in the automotive industry have resulted in an increased use of Aluminum welding that results in positively impacting the growth of Aluminum welding market. Continuous improvement in the welding wire market can be noticed. Due to such development in the welding wires market, Sr and Ti have been included in ER4043 aluminum alloy welding wire. The mentioned developments in the welding wire market result in positively impacting the market growth of this industry.
Aluminum welding are associated with features like strong corrosion resistance properties and recyclability. The presence of these qualities in Aluminum welding promotes the growth of the industry. It is also associated with diverse applicability ranging from automotive and transportation to construction projects, transformers and reactors, and refrigerators among others. Such different applicability of Aluminum welding has a positive impact on the market growth of the industry.
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Top Lading Players: Hobart, Bridge Welding Materials, Dongyuehengxing, ELGA, BOC (Linde), Huaheng Aluminum Welding Wire, Safra, ESAB, Lincoln Electric, Chuanwang Welding Consumables.
Some Key Highlights from the Report:
- The Aluminum welding market held a market share of USD 328.7 Million in the year 2020. It is forecasted to grow at a rate of 6.6% during the forecast period.
- In addition to the applicability as mentioned above of Aluminum welding, it can also be used along with brick, cement, and steel in construction material. Diverse applicability of Aluminum welding boosts the growth of this market.
- In the context of product type, aluminum-magnesium alloy welding wire segment dominates the market. By the year 2028, it is forecasted to generate the highest revenue of USD 232.5 Million with a CAGR of 6.8% during the forecast period. Its high strength as compared to other product types and effectiveness in structural use contributes to its market dominance.
- In the processing segment, the Bayer process dominates the market. It is forecasted to hold 57% of the market with a growth rate of 6.8% during the forecast period — the significance of the process in collecting bauxite results in its market dominance.
- In regards to the welding process, GTAW/TIG dominates the market that is forecasted to hold 42% of the market by 2028 with a growth rate of 6.9% during the forecast period. Factors like lack of requirement of mechanical wire feeding associated with the welding process that helps in reducing the risk associated with mechanical wire feeding have contributed to its market dominance.
- Among the various end-users of Aluminum welding, automotive transportation segment leads the market. It is forecasted to generate the highest revenue of USD 156.6 Million by 2028 with a growth rate of 7.0% during the forecast period. Factors like an increase in demand for lightweight vehicles and rigid government regulations on emission level have resulted this segment in dominating the aluminum welding market.
- The Asia Pacific region holds the largest market share. It is forecasted to generate the highest revenue of USD 151.8 Million by 2028 with a growth rate of 7.0% during the forecast period. Factors like the rise in population and development in construction projects along with the application of Aluminum welding in these projects have resulted in the dominance of this region in the market.
Segments covered in the report:
Product type Outlook (Revenue, USD Million; 2020-2028) (Kilo Tons)
- Aluminum-Magnesium Alloy Welding Wire
- Pure Aluminum Welding Wire
- Al-Si Alloy Welding Wire
Processing Type Outlook (Revenue, USD Million; 2020-2028) (Kilo Tons)
- Bayer process
- Electrolysis
Welding process Type Outlook (Revenue, USD Million; 2020-2028) (Kilo Tons)
- GTAW/TIG
- GMAW/MIG
- Laser Beam Welding and Electron Beam Welding
- Resistance Welding
End-user Outlook (Revenue, USD Million; 2020-2028) (Kilo Tons)
- Construction
- Automotive Transportation
- Air conditioning
- Transformers and reactors
- Refrigerator
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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