MRRSE has added a new research report on the "Nickel Alloy Welding Consumables Market- Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024" to its collection.

1. Nickel Alloy Welding Consumables Market 2016, Demand,
Analysis & Forecast 2024
Report Description
Nickel and its alloys are highly regarded as excellent
materials for welding operations owing to properties such as
high temperature strength and resistance to thermal

2. expansion and corrosion. As a result, Nickel-alloy-based
welding fillers have gained widened popularity in the past
few decades. The increasing use of nickel in end-use
applications such as renewable energy, aerospace, LNG, and
shipbuilding has augmented the market and is expected to
present healthy growth opportunities to the global nickel
alloy welding consumables market in the near future.
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welding-consumables-market
Transparency Market Research estimates that the global
market will witness a significant rise in its overall valuation
in the next few years, from US$3.32 bn in 2015 to US$5.87

3. bn by 2024. This translates to a 6.6% CAGR over the period
between 2016 and 2024. In terms of volume, the market is
expected to exhibit a nearly 5% CAGR over the same
period.
Applications across Oil and Gas Industry to Lead to Promising
Returns
Nickel alloy welding consumables can be very expensive
compared to consumables made of other metals such as
stainless steel, and with unskilled workers, the cost of
welding can rise significantly. Thus, the applications of nickel
alloy welding consumables are somewhat limited to critical
applications across industries such as power generation, oil

4. and gas, marine, construction, manufacturing, and
transportation.
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Of these, the oil and gas industry is presently the leading
contributor to the global nickel alloy welding consumables
market’s revenues and is expected to retain its dominant
stance in the next few years as well. Applications of nickel
alloy welding consumables across the oil and gas industry are
expected to account for a share of over 22% of the global
market in 2016. The rising use of nickel alloys in welding
activities across heat exchangers, pipelines, valves, drilling

5. machines, and pressure vessels in the oil and gas industry
will lead to promising growth prospects for the nickel alloy
welding consumables market.
Growth across Industrial Sectors in Asia Pacific to Foster
Nickel Alloy Welding Consumables Market
On the basis of geography, the global market for nickel alloy
welding consumables has been analyzed for five regions: Asia
Pacific, Middle East & Africa, North America, Latin America
and Europe. Of these, markets in developed regions such as
North America and Europe are mature and provide limited
growth opportunities in terms of untapped potential.
However, the positive growth across the manufacturing and

6. power sectors observed in Canada and Germany in the past
few years could provide sizeable growth avenues for the
nickel alloy welding consumables market. Europe and North
America together are expected to constitute nearly 50% of the
global market in terms of volume in 2016.
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Asia Pacific dominated the global market in terms of volume,
and is expected to remain the most attractive region for the
global nickel alloy welding consumables market in the next
few years as well, expected to account for a volume-wise
share of more than 37% in 2016. The region’s attractive

7. growth prospects can be attributed to factors such as high
population rates and significant development across many
end-use industries, which has attracted substantial investment
and trade activities in the industrial sector in the region.
Also, international players in the global nickel alloy welding
consumables market have increased their focus on the region
and are attempting to expand manufacturing, marketing, and
sales channels to exploit the vast set of untapped growth
opportunities.
The global market for nickel alloy welding consumables is
dominated by few international vendors but also features a
large number of domestic players commanding prominent

8. share of the overall market. The top five companies in the
market, including ESAB, Lincoln Electric Holdings, Inc.,
Illinois Tool Works Inc., Chevron Phillips Chemical Company
LLC, and voestalpine Böhler Welding GmbH, collectively held
a nearly 50% share in 2015. Other key vendors in the market
are Sandvik Materials Technology AB, Kobe Steel, Ltd., Ador
Welding Ltd., Colfax Corporation, Tianjin Golden Bridge
Welding Materials Group Co., MEC Holding GmbH, and
Special Metal Corporation, Ltd.
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