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The aluminum welding wires market share is expected to increase by 55.07 thousand MT from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.83%.
This aluminum welding wires market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aluminum welding wires market segmentations by end-user (automotive and transportation, construction, and others) and geography (APAC, Europe, North America, South America, and MEA). The aluminum welding wires market report also offers information on several market vendors, including Air Liquide SA, Colfax Corp., CTP Srl, DRAHTWERK ELISENTAL W. Erdmann GmbH & Co., Hilarius Haarlem Holland BV, Novametal SA, Safra Spa, SURAL, The Lincoln Electric Co., and voestalpine AG among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing demand for lightweight vehicles is notably driving the aluminum welding wires market growth, although factors such as fluctuating LME prices influence premium and production plans may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aluminum welding wires industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Aluminum Welding Wires Market Driver
The increasing demand for lightweight vehicles is notably driving the aluminum welding wires market growth. The global demand for aluminum has been on the rise, with the growing demand for lightweight vehicles that use materials such as aluminum as a welding material to bring down the overall weight of a vehicle. The implementation of stringent global standards, such as the national pollution-control standards set by the US Department of Transportation or the US Environmental Protection Agency, has also fueled demand for aluminum welding wires. Aluminum is identified as a versatile material and is the second most chosen material after steel. It is used for applications in different end-use industries, such as building and construction, electrical, machinery, automotive, transportation, and other machinery. Aluminum is used in many forms in the automotive industry, ranging from sheets for the vehicle body to welding owing to its unique features such as lightweight, corrosion resistance, and recyclability. The use of advanced technologies to reduce emission levels, increase fuel efficiency, and improve the driving dynamics of the vehicle is increasing in the automotive industry.
Key Aluminum Welding Wires Market Trend
An increase in demand for welding wires for repair and maintenance is the key trend driving the aluminum welding wires market growth. There has been a considerable increase in the demand for aluminum welding wires for repair and maintenance applications in various sectors, especially the automotive and infrastructure segments. Various initiatives taken by organizations are helping to boost market growth for repair and maintenance applications. For instance, the Long Life Bridges project, funded by the EU, assists public authorities in deciding on the maintenance or repair of bridges by employing new models to accurately calculate the value of bridges. The increase in vehicle numbers also leads to a higher requirement for maintenance and repair services, driving the demand for aluminum welding wires. The global automotive industry is on the rise owing to increased digital demands and diverging markets. The industry is fueled by demands from countries such as Japan and South Korea.
Key Aluminum Welding Wires Market Challenge
The major challenge impeding the aluminum welding wires market growth is the fluctuating LME prices influence premium and production plans. After the pandemic, the price of aluminum declined due to a demand-supply gap in 2020. The price rose drastically due to revised supply-demand level in 2021. By April 2021, LME (London Metal Exchange) aluminum price was $2,344.01 per ton. At present, the trend is again moving toward the recession period when the prices were low. Therefore, the fluctuations in LME prices play a significant role in the production volumes and profit margins of vendors. The premiums are also affected by price change as they are directly related to the LME prices. The buyers of aluminum, which include end-use segments such as automotive, construction, and shipbuilding, are required to pay high premium charges for the aluminum they purchase from the manufacturer. The premium is a surcharge that aluminum consumers must pay in addition to the main prices to receive the delivery of the metal from the warehouses. Such fluctuation can hinder the growth of the aluminum welding wires in the future.
This aluminum welding wires market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global aluminum welding wires market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aluminum welding wires market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the aluminum welding wires market encompasses successful business strategies deployed by the key vendors. The aluminum welding wires market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The aluminum welding wires market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the aluminum welding wires market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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50% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for aluminum welding wires market in APAC.
The investments in process automation in countries such as China to keep up with the competition will facilitate the aluminum welding wires market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In early 2020, the COVID-19 pandemic in APAC led to the closure of many construction projects, where aluminum welding wires are used. In addition, the closed international trading amid the pandemic resulted in decreased demand for aluminum welding wires from importers, hence reducing the growth rate of the market in focus in APAC. However, the construction of new hospitals and advancing infrastructure for oxygen delivery in hospitals in countries like China helped vendors sustain growth in 2020. Furthermore, the reopening of international trade in Q4 of 2020 is expected to boost the demand for aluminum welding wires in APAC during the forecast period.
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The aluminum welding wires market share growth by the automotive and transportation segment will be significant during the forecast period. Vehicle manufacturers are focusing on scaling their operations to meet the rising demand for vehicles. For instance, in October 2018, Suzuki Motors announced its plans to build a second manufacturing plant in Gujarat, India, by 2021. The facility would have three assembly lines with a manufacturing capacity of 250,000 vehicles per year. Therefore, the increasing demand for vehicles and subsequent efforts of manufacturers in enhancing their businesses will fuel the demand for aluminum welding wires products.
This report provides an accurate prediction of the contribution of all the segments to the growth of the aluminum welding wires market size and actionable market insights on post COVID-19 impact on each segment.
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Aluminum Welding Wires Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.83% |
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Market growth 2020-2024 |
55.07 thousand MT |
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Market structure |
Concentrated |
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YoY growth (%) |
5.37 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 50% |
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Key consumer countries |
China, US, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Air Liquide SA, Colfax Corp., CTP Srl, DRAHTWERK ELISENTAL W. Erdmann GmbH & Co., Hilarius Haarlem Holland BV, Novametal SA, Safra Spa, SURAL, The Lincoln Electric Co., and voestalpine AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
***1. Executive Summary
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 01: Parent market
*Exhibit 02: Market characteristics
**2.2 Value chain analysis
*Exhibit 03: Value chain analysis: Diversified metals and mining market
*2.2.1 Inputs
*2.2.2 Operations
*2.2.2.1 Prospecting and land leasing
*2.2.2.2 Geophysical surveying and mapping
*2.2.3 Mine development and extraction
*2.2.4 Outbound logistics
*2.2.5 Marketing and sales
*2.2.6 End-user industries
*2.2.7 Support activities
*2.2.8 Innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 04: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 05: Market segments
**3.3 Market size 2020
**3.4 Market outlook: Forecast for 2020 - 2025
*Exhibit 06: Global - Market size and forecast 2020 - 2025 (thousand MT)
*Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 08: Five forces analysis 2020 & 2025
**4.2 Bargaining power of buyers
*Exhibit 08: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 09: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 10: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 11: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 12: Threat of rivalry
**4.7 Market condition
*Exhibit 13: Market condition - Five forces 2020
***5. Market Segmentation by End-user
**5.1 Market segments
*Exhibit 14: End user - Market share 2020-2025 (%)
**5.2 Comparison by End user
*Exhibit 15: Comparison by End user
**5.3 Automotive and transportation - Market size and forecast 2020-2025
*Exhibit 16: Automotive and transportation - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 17: Automotive and transportation - Year-over-year growth 2020-2025 (%)
**5.4 Construction - Market size and forecast 2020-2025
*Exhibit 18: Construction - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 19: Construction - Year-over-year growth 2020-2025 (%)
**5.5 Others - Market size and forecast 2020-2025
*Exhibit 20: Others - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 21: Others - Year-over-year growth 2020-2025 (%)
**5.6 Market opportunity by End user
*Exhibit 22: Market opportunity by End user
***6. Customer landscape
**6.1 Overview
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 23: Customer landscape
*** 7. Geographic Landscape
**7.1 Geographic segmentation
*Exhibit 24: Market share by geography 2020-2025 (%)
**7.2 Geographic comparison
*Exhibit 25: Geographic comparison
**7.3 APAC - Market size and forecast 2020-2025
*Exhibit 26: APAC - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 27: APAC - Year-over-year growth 2020-2025 (%)
**7.4 Europe - Market size and forecast 2020-2025
*Exhibit 28: Europe - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 29: Europe - Year-over-year growth 2020-2025 (%)
**7.5 North America - Market size and forecast 2020-2025
*Exhibit 30: North America - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 31: North America - Year-over-year growth 2020-2025 (%)
**7.6 South America - Market size and forecast 2020-2025
*Exhibit 32: South America - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 33: South America - Year-over-year growth 2020-2025 (%)
**7.7 MEA - Market size and forecast 2020-2025
*Exhibit 34: MEA - Market size and forecast 2020-2025 (thousand MT)
*Exhibit 35: MEA - Year-over-year growth 2020-2025 (%)
**7.8 Key leading countries
*Exhibit 36: Key leading countries
**7.9 Market opportunity by geography
*Exhibit 37: Market opportunity by geography (thousand MT)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Increasing demand for lightweight vehicles
*8.1.2 Increase in demand for welding wires for repair and maintenance
*8.1.3 Rising demand for power infrastructure
**8.2 Market challenges
*8.2.1 Fluctuating LME prices influence premium and production plans
*8.2.2 MIG weld defects
*8.2.3 GMAW processing issues
*8.2.4 Modern production technologies minimizing welding requirements
*Exhibit 38: Metal properties and their applications
**8.3 Market trends
*8.3.1 Innovations in welding technologies
*8.3.2 Increase in use of alloy 4943 as a filler
*8.3.3 Use of welding robots and automation of welding processes
*8.3.4 Strategic tie-ups and acquisitions
***9. Vendor Landscape
**9.1 Vendor landscape
*Exhibit 39: Vendor landscape
**9.2 Landscape disruption
*Exhibit 40: Landscape disruption
*Exhibit 41: Industry risks
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 42: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 43: Matrix on vendor position and classification
**10.3 L Air Liquide SA
*Exhibit 44: L Air Liquide SA - Overview
*Exhibit 45: L Air Liquide SA - Business segments
*Exhibit 46: L Air Liquide SA – Key news
*Exhibit 47: L Air Liquide SA - Key offerings
*Exhibit 48: L Air Liquide SA - Segment focus
**10.4 Colfax Corp.
*Exhibit 49: Colfax Corp. - Overview
*Exhibit 50: Colfax Corp. - Business segments
*Exhibit 51: Colfax Corp. - Key offerings
*Exhibit 52: Colfax Corp. - Segment focus
**10.5 CTP Srl
*Exhibit 53: CTP Srl - Overview
*Exhibit 54: CTP Srl - Product and service
*Exhibit 55: CTP Srl - Key offerings
**10.6 DRAHTWERK ELISENTAL W. Erdmann GmbH & Co.
*Exhibit 56: DRAHTWERK ELISENTAL W. Erdmann GmbH & Co. - Overview
*Exhibit 57: DRAHTWERK ELISENTAL W. Erdmann GmbH & Co. - Product and service
*Exhibit 58: DRAHTWERK ELISENTAL W. Erdmann GmbH & Co. - Key offerings
**10.7 Hilarius Haarlem Holland BV
*Exhibit 59: Hilarius Haarlem Holland BV - Overview
*Exhibit 60: Hilarius Haarlem Holland BV - Product and service
*Exhibit 61: Hilarius Haarlem Holland BV - Key offerings
**10.8 Novametal SA
*Exhibit 62: Novametal SA - Overview
*Exhibit 63: Novametal SA - Product and service
*Exhibit 64: Novametal SA - Key offerings
**10.9 Safra Spa
*Exhibit 65: Safra Spa - Overview
*Exhibit 66: Safra Spa - Product and service
*Exhibit 67: Safra Spa - Key offerings
*Exhibit 68: Safra Spa - Segment focus
**10.10 SURAL CA
*Exhibit 69: SURAL CA - Overview
*Exhibit 70: SURAL CA - Product and service
*Exhibit 71: SURAL CA - Key offerings
**10.11 The Lincoln Electric Co.
*Exhibit 72: The Lincoln Electric Co. - Overview
*Exhibit 73: The Lincoln Electric Co. - Business segments
*Exhibit 74: The Lincoln Electric Co. - Key offerings
*Exhibit 75: The Lincoln Electric Co. - Segment focus
**10.12 voestalpine AG
*Exhibit 76: voestalpine AG - Overview
*Exhibit 77: voestalpine AG - Business segments
*Exhibit 78: voestalpine AG - Key offerings
*Exhibit 79: voestalpine AG - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 ????Objectives
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 80: Currency conversion rates for US$
**11.3 Research methodology
*Exhibit 81: Research Methodology
*Exhibit 82: Validation techniques employed for market sizing
*Exhibit 83: Information sources
**11.4 List of abbreviations
*Exhibit 84: List of abbreviations
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