The aluminum welding wires market in Europe was valued at 34 metric tons in 2016 and is expected to surpass 47 metric tons by 2021, says Technavio.
Technavio has announced its latest market research report on the aluminum welding wires market in Europe, under its metals and minerals portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Air Liquide Welding, ESAB, Drahtwerk ELISENTAL W. Erdmann, Novametal, and The Lincoln Electric Company.
According to Ajay Adikari, a lead analyst for metals and minerals research at Technavio, “The increase in the demand of welding wires for repair and maintenance is the major driver driving growth in the market. There is an increase in the demand for aluminum welding wires for repair and maintenance applications in various segments, especially in the automotive and infrastructure segments.”
Various initiatives undertaken by the organizations are boosting the market for repair and maintenance. For instance, the automobile industry in Europe grew by approximately 6% by 2015. Such growth clearly indicates the healthy growth of the car and commercial vehicle manufacturing industry in Europe. The increase in vehicle fleet is consequently increasing the need for maintenance and repairs, thereby driving the demand for aluminum welding wires for repair and maintenance.
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Weight reduction norms and green concepts spurring use of aluminum
Aluminum is identified as a versatile material and is the second most chosen material after steel. It is used for applications in different end-user industries, such as building and construction, electrical, machinery, automotive, transportation, and other machinery. The use of advanced technologies to reduce emission levels, increase fuel efficiency, and improve driving dynamics of the vehicle is increasing in the automotive industry. Therefore, the trending use of aluminum will consequently increase the use of aluminum welding wires in the automotive industry.
Strategic tie-ups and acquisitions
As a long-term focus on Europe, sales of weld wires can be allowed by strategic partnerships with auto components suppliers and OEMs. Companies can also plan inorganic growth and penetration into key countries in Europe by tie-ups with small players who have gained brand name and technical expertise to market aluminum welding wires. Moreover, collaborating with automation solution providers to enhance the reach of welding wire products can also benefit the vendors.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Aluminum Welding Wires Market in Europe 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
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- Aluminum Wire Rods Market in Europe 2017-2021
- Global Lightning Rod Market 2017-2021
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