Thriving Building & Construction Sector Worldwide to Spur the Growth of the Welding Gas Market
A recent research study published by MarkNtel Advisors cites that the Global Welding Gas Market is projected to grow at a CAGR of around 5.2% during 2022-27, mainly on account of rising industrialization & urbanization, the flourishing building & construction sector, the emerging metal manufacturing & fabrication industry, and massive government investments in residential & commercial infrastructural development projects globally.
The welding industry is constantly growing, with several types of welding gases like argon, carbon dioxide, oxygen, hydrogen, helium, & acetylene, among others, being used increasingly across different end-user industries, such as aerospace & defense, manufacturing, transportation, automotive, shipping, etc.
Moreover, the booming automotive industry across Asia-Pacific & Latin American countries, coupled with increased government spending on the manufacturing, construction, and aerospace & defense sectors, are further creating a high demand for welding gas and, in turn, propelling the overall market growth.
Key Highlights from the Welding Gas Market Research Report:
- Among various product types, argon gas holds a notable share in the welding gas market globally. It ascribes to its ever-increasing utilization in metal manufacturing & fabrication applications. Since argon gas creates an inert barrier between welds and atmospheric oxygen, nitrogen, or carbon dioxide, among other contaminants in the environment, and provides good stabilization on electric arcs in metal fabrication processes, it is witnessing high demand.
- Gas Metal Arc Welding (GMAW/MIG) is the most promising application of welding gases, i.e., projected to witness the highest demand growth in the global market over the coming years. It owes to its low cost & extensive applicability to a wide range of metal surfaces, coupled with massive government investments in infrastructure expansion & renovation projects worldwide.
- On the geographical front, Asia-Pacific would maintain its dominance in the Welding Gas Market through 2027. It owes to burgeoning automobile production & sales, substantial government investments in infrastructural developments & industrial expansions, as well as rising urbanization across the region.
- In addition, the increased welding processes in the flourishing construction, energy, & automotive sectors and the rise in construction activities associated with commercial & residential buildings are also stimulating the Asia-Pacific Welding Gas Market growth.
The key companies in the Global Welding Gas Market include Air Liquide SA, Air Products and Chemicals, Inc., American Welding and Gas, Arc3 Gases, Gulf Cryo, Iceblick Ltd., Linde PLC, Nippon Sanso Holdings Corporation, Southern Industrial Gas Sdn. Bhd., and The Messer Group GmbH, among others.
Key Questions Answered in the Research Report:
- What are the current & future trends in the Global Welding Gas Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various countries, followed by their comparative factorial indexing?
- What are the key growth drivers & challenges for the Global Welding Gas Market?
- What are the customer orientation, purchase behavior, and expectations from welding gas manufacturers across various regions?
- By Product Type (Carbon Dioxide, Argon, Hydrogen, Oxygen, Others (Helium, Acetylene, etc.))
- By Application (Gas Metal Arc Welding (GMAW/MIG), Gas Tungsten Arc Welding (GTAW/TIG), Shielded Metal Arc Welding (SMAW), Flux Cored Arc Welding (FCAW))
- By End-User (Metal Manufacturing & Fabrication, Building & Construction, Energy, Automotive, Aerospace & Defense, Others (Oil & Gas, Transportation, etc.))
- By Region (North America, South America, Asia-Pacific, Europe, Middle East & Africa)
- By Country (The US, Canada, Mexico, Brazil, Argentina, Germany, Italy, the UK, France, Spain, Russia, Japan, China, India, South Korea, Australia, Saudi Arabia, the UAE, South Africa)