CHINA FLUX CORED WELDING WIRE MARKET REPORT OVERVIEW
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The global China flux cored welding wire market size was USD 1628million in 2020 and the market is projected to touch USD 2275.5million by 2027, exhibiting a CAGR of 4.9% during the forecast period.
One kind of welding wire that creates the weld using a flux core is called flux cored welding wire. Unlike other types of welding wires, the flux core does not require an external shielding gas source since it includes both the electrode and the shielding gas. Because of this, flux cored welding wire is perfect for situations requiring portable or restricted access. A wide range of sectors, including machinery, structural fabrication, shipbuilding, and bridge construction, employ flux-cored welding wire. For many welding applications, it is the recommended option due to its efficacy and adaptability.
COVID-19 Impact: Pandemic Caused Industrial Shutdown and Supply Chain Disruptions Shackled Up Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The worldwide supply chain was disrupted by COVID-19, which had an impact on the availability of components and raw materials for manufacture. This may have caused problems with the manufacturing and delivery of welding supplies, which would have affected the market for flux-cored welding wire. Numerous building projects and industrial operations were either stopped entirely or significantly slowed down during the lockdowns and times of limited activity. Because there was less need for welding in the industrial and construction industries, this directly affected the demand for welding goods.
LATEST TRENDS
"Advancements, Quality Standards and Certifications to Propagate the Market Growth"
Technology is constantly evolving in the welding sector, which includes flux-cored welding wire. This might involve changes to the composition of welding wires, better welding methods, and advancements in production procedures to boost productivity and effectiveness. Respecting international certifications and quality standards is becoming more and more crucial. Producers may prioritize fulfilling or beyond industry norms in order to improve the dependability and caliber of their flux-cored welding wire offerings.
CHINA FLUX CORED WELDING WIRE MARKET SEGMENTATION
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- By Type
Based on type the global market can be categorized into gas shielded, self shielded and others.
Gas-shielded:An inert gas, such carbon dioxide, argon, or helium, is placed over metal-cored welding wire to create gas-shielded welding wire. Gas-coated welding wire's main purposes are to reduce spatter and shield the weld pool from hot areas that might reignite the process. A standard GSWW has an outside layer composed of lesser alloyed steel or aluminum, around a center composed of high strength steel wires.
Self-shielded: A metal shield is used by self-shielded welding wire, a kind of electric arc welding equipment, to shield the weld pool from contamination and oxidation. The product finds usage in a multitude of industries, including shipbuilding, offshore exploration, and the construction and maintenance of oil and gas pipelines. Because it can offer high heat input with little smoke and spatter, it is also used in the manufacture of heavy plates for steel constructions.
- By Application
Based on application the global market can be categorized into machinery, structural fabrication, ship building, bridges and others.
Machinery:Machines and equipment of many kinds are made with flux-cored welding. The manufacturing of parts for industrial, construction, and agricultural machines is included in this. The dependable and effective way that flux-cored wires offer for fixing worn-out or broken sections makes them useful for maintenance and repair work on machines.
Structural Fabrication: Beams, columns, and trusses are among the structural components that are frequently fabricated in the construction sector using flux-cored welding. The connection of structural steel parts is done by flux-cored welding wire in the construction of buildings and infrastructure projects.
Shipbuilding: In shipbuilding, flux-cored welding is widely employed to fabricate the hull and other structural elements of ships. It is appropriate for the demanding circumstances at sea since it produces strong and long-lasting welds. Additionally, flux-cored welding is employed in ship repair and retrofitting operations, enabling the upkeep and alteration of already-built boats.
Bridges: The construction of beams, girders, and supports for bridges uses flux-cored welding wire. Steel component joining is accomplished by the use of flux-cored welding in bridge building. It is also employed in maintenance procedures to strengthen and restore already-existing bridges.
DRIVING FACTORS
"Infrastructure Development and Construction Boom to Step Up the Market Growth"
The flux-cored welding wire market has been driven by China's increasing industrialization and infrastructural development. The development of diverse infrastructure projects, production of machinery, and construction projects frequently call for the employment of flux-cored wires in welding procedures. A significant quantity of welding is required for structural fabrication in the building sector, which includes residential, commercial, and infrastructure projects. Because of its efficiency and adaptability, flux-cored welding wire is the favored choice in many construction applications.
"Automotive Sector Growth Applications in Marine and Shipbuilding Industry to Boom Up the Market Share Profitably"
One of the biggest markets for welding goods is the automobile sector. The need for flux-cored welding wire for the production and maintenance of automobile components is projected to rise as China's automotive industry expands. China is a major player in the world shipbuilding market. Because flux-cored welding wire produces strong, dependable welds, which are essential for manufacturing marine vessels, it is widely employed in shipbuilding.
RESTRAINING FACTOR
"Skill Requirements and Cost Considerations to Drain Out the Market Share"
Beginners may find flux-cored welding more difficult than other welding techniques. A solid grasp of the welding parameters, such as wire feed speed, voltage, and travel speed, is necessary to produce welds of excellent quality. In order to prevent problems such as partial fusion and slag inclusions, proper technique and ability are essential. Because flux materials are more expensive than solid welding wires, flux-cored welding wires may be more expensive. In many cases, productivity improvements could outweigh the greater initial cost; nonetheless, economic concerns are always important, particularly for projects with tight budgets. Hence, such factors are expected to hinder the China flux cored welding wire market growth during the forecast period.
CHINA FLUX CORED WELDING WIRE MARKET REGIONAL INSIGHTS
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"Asia Pacific with Increasing Foreign Investments and Strong Manufacture Base to Dominate the Market Share"
"The market is primarily segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa."
Over the course of the forecast period, the Asia Pacific is expected to grow at one of the fastest rates and dominate the China flux cored welding wire market share. With a market share of more than quarter in 2018, Asia Pacific emerged as the largest regional market. Over the course of the projected period, the area is anticipated to maintain its supremacy. This is explained by the rise in foreign investments in nations like China, India, and Japan. For example, The World Bank Group reports that from 2014 to 2017, FDI inflows into India increased by 6%. Comparably, FDI (foreign direct investment) increased by 14% in China.
Provinces like Zhejiang, Shanghai, and Jiangsu are a portion of the eastern area that has prospered economically. These regions have a robust manufacturing base that includes the shipbuilding, automobile, and machinery sectors. The provinces of Guangdong and Guangxi are renowned for their industrial activity as well. Manufacturing and businesses focused on exports have historically centered in southern China. This region encompasses Beijing, Tianjin, and portions of the province of Hebei, as well as territories surrounding the Bohai Sea. With an emphasis on manufacturing and heavy industries, it is a significant economic zone. The industrial and manufacturing capabilities of China are mostly centered on the cities and provinces around the Yangtze River Delta, namely Shanghai and Jiangsu.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
Important industry players have a big impact on the market and are crucial in determining customer preferences and market dynamics. These major firms provide consumers easy access to a vast array of clothing alternatives through their huge retail networks and online platforms. Product adoption has increased as a result of their strong worldwide presence and well-known brand, which has also enhanced consumer trust and loyalty. These industry titans also consistently fund R&D, bringing cutting-edge designs, materials, and clever features to China flux cored welding wire to meet changing customer demands and preferences. These big businesses' combined efforts have a big impact on the market's future direction and level of competition.
List of Market Players Profiled
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ITW (U.S)
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Lincoln Electric (U.S)
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Kiswel (South Korea)
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Voestalpine (Austria)
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Kobelco (Japan)
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Hyundai (South Korea)
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TASETO (Japan)
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Tianjin Golden Bridge (China)
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Tianjin Bridge (China)
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Beijing Jinwei (China)
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Shandong Solid Solider (China).
INDUSTRIAL DEVELOPMENT
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January 2019: Lincoln declared the purchase of Worthington Industries, Inc., a manufacturer of metal products.
REPORT COVERAGE
The report includes a thorough SWOT analysis and offers predictions for market growth in the future. It explores a broad range of market categories and possible applications that might have an impact on the market's trajectory in the upcoming years, as well as key aspects that contribute to the market's growth. The research provides a comprehensive overview of the market's components and identifies possible growth opportunities by taking into account both historical turning points and present trends.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1628 Million in 2020 |
Market Size Value By |
US$ 2275.5 Million by 2027 |
Growth Rate |
CAGR of 4.9% from 2020 to 2027 |
Forecast Period |
2023-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the China flux cored welding wire market expected to touch by 2027?
The global China flux cored welding wire market is expected to reach USD 2275.5 million by 2027.
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What CAGR is the China flux cored welding wire market expected to exhibit by 2027?
The China flux cored welding wire market is expected to exhibit a CAGR of 4.9% by 2027.
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Which are the driving factors of the China flux cored welding wire market?
Infrastructural development, construction boom, growth in automotive sector and shipbuilding and marine are the driving factors of the market.
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What are the key China flux cored welding wire market segments?
The key market segmentation that you should be aware of, which include, Based on type the market is classified as gas shielded, self shielded and others. Based on application the market is classified as machinery, structural fabrication, ship building, bridges and others.