Asia-Pacific is anticipated to grow at the highest rate, owing to the large number of ongoing and proposed energy projects in China and India, says Allied Market Research
The global welding consumables market, valued at $12.4 billion in 2016, is projected to reach $18.3 billion by 2023, growing at a CAGR of 5.7% from 2017 to 2023, according to an Allied Market Research (AMR) report. The solid wires segment was dominant in 2016, accounting for around half of the market share.
Welding consumables are flux and filler materials that liquefy during welding to produce strong joints. The selection of welding consumables is dependent on the type of end use. Growth in construction and automotive industries, rise in the number of applications across various end-user industries, increase in usage of welding consumables for repair & maintenance purpose, and surge in global energy infrastructure investments drive the market growth.
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