The report, now available on ASDReports, "Welding Gas/Shielding Gas Market by End-Use Industry (Metal Manufacturing & fabrication, Construction), Storage, Distribution & Transportation (Cylinder & packaged gas, Merchant liquid), Type (Oxygen), Application (Shielded metal arc welding) & Region - Global Forecast to 2020", The welding gas/shielding gas market is projected to grow from USD 7.17 Billion in 2015 to reach USD 9.46 Billion by 2020, at an estimated CAGR of 5.70%.
The welding gas/shielding gas market is growing due to the increasing applications of welding gas/shielding gas in the construction sector, growing aerospace industry, and rising demand for energy. Growing demand from the automotive industry also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.
Metal manufacturing & fabrication to gain maximum traction during the forecast period
The metal manufacturing & fabrication held the majority market share in the global welding gas/shielding gas market. The primary function of welding gas/shielding gas in the metal fabrication industry is to create an inert gas shield during welding, to protect molten and heated metal from the damaging effects of the surrounding air. Welding gas/shielding gas such as argon is frequently blended with oxygen, carbon dioxide, hydrogen, and helium to enhance the arc characteristics or facilitate metal transfer in gas metal arc welding. With growing infrastructural activities, the demand for steel has increased, which in turn drives the welding gas/shielding gas market.
Asia-Pacific to play a key role in the welding gas/shielding gas market
On the basis of key regions, the welding gas/shielding gas market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region held the largest share among all the regions in 2014. This is mainly due to emerging economies in China and India, coupled with growing applications of welding gas/shielding gas in the construction, energy, metal manufacturing & fabrication, and automotive industries.
The scope of the report covers detailed information regarding the major factors influencing the growth of the welding gas/shielding gas industry such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the welding gas/shielding gas.
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Source: ASDReports - Market Research
Date: Jan 29, 2016