Global Solid Wires Market 2017-2021

Overview of the global solid wires market

Research analysis on the global solid wires market identifies that the growing demand of welding wires from the wind energy industry will be one of the major factors that will have a positive impact on the growth of the market. The cans require internal and external longitudinal welding, while the tacking, forming, and welding of internal and external circumferential joints are mandatory for the formation of the tower. Owing to the growth in the installed capacity of wind energy, there will be an increase in the demand for installing wind towers. This will lead to the growth in demand for welding consumables, such as stick electrodes and solid wires. Technavio's market research analysts predict that this market will generate a revenue of more than USD 6.1 billion by 2021.

The emergence of laser wielding equipment will be one of the latest trends that will gain traction in the solid wires market during the next four years. This equipment can be used to weld a wide range of materials, especially materials with high melting points and high heat conduction properties. Laser welding equipment offer high flexibility, precision levels, and productivity that aids in mass production. This will in turn, increase the demand for the same from the medical device, photovoltaics, and entertainment electronics sectors.

Competitive landscape and key vendors