World - Base Metal Cored Wire For Electric Arc-Welding - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCored Arc-Welding Wire Market
The global market for cored arc-welding wire is projected to experience growth in both consumption and value from 2022 to 2030, with a forecasted CAGR of +0.7% and +3.0%, respectively. In 2022, global consumption contracted slightly but is expected to increase over the coming years. The top consuming countries include China, the United States, and India, while the top producers are China, the United States, and India. Import and export trends show stability, with growth expected in the near future.
Market Forecast
Driven by rising demand for cored arc-welding wire worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 958K tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $3.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Cored Base Metal Wire For Electric Arc-Welding
In 2022, global consumption of cored arc-welding wire contracted slightly to 908K tons, declining by -2.1% against the previous year's figure. Overall, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by 4.7% against the previous year. As a result, consumption attained the peak volume of 1.1M tons. From 2018 to 2022, the growth of the global consumption remained at a lower figure.
The global cored arc-welding wire market revenue shrank modestly to $3.1B in 2022, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the market value increased by 8.5%. Over the period under review, the global market hit record highs at $3.2B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (213K tons), the United States (162K tons) and India (83K tons), together accounting for 51% of global consumption. Japan, Brazil, Russia, Mexico, Indonesia, Turkey, Canada, Poland and Iran lagged somewhat behind, together accounting for a further 25%.
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +14.3%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($775M) led the market, alone. The second position in the ranking was held by China ($387M). It was followed by Russia.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +2.9%. The remaining consuming countries recorded the following average annual rates of market growth: China (-2.5% per year) and Russia (-0.3% per year).
The countries with the highest levels of cored arc-welding wire per capita consumption in 2022 were the United States (485 kg per 1000 persons), Canada (419 kg per 1000 persons) and Poland (401 kg per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +12.9%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Cored Base Metal Wire For Electric Arc-Welding
In 2022, approx. 910K tons of cored arc-welding wire were produced worldwide; declining by -1.9% compared with the previous year. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 7.8% against the previous year. As a result, production attained the peak volume of 1.1M tons. From 2018 to 2022, global production growth remained at a lower figure.
In value terms, cored arc-welding wire production fell to $2.9B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 9.1%. Over the period under review, global production reached the peak level at $3.1B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (310K tons), the United States (174K tons) and India (71K tons), together comprising 61% of global production. South Korea, Vietnam, Japan, Russia, Brazil, Poland, Italy and Iran lagged somewhat behind, together comprising a further 26%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Vietnam (with a CAGR of +5.7%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Cored Base Metal Wire For Electric Arc-Welding
In 2022, approx. 360K tons of cored arc-welding wire were imported worldwide; remaining constant against the previous year. The total import volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, cored arc-welding wire imports rose rapidly to $1.2B in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.
Imports By Country
The purchases of the twelve major importers of cored arc-welding wire, namely Japan, Mexico, Indonesia, the United States, Canada, China, Vietnam, India, Thailand, Italy, the United Arab Emirates and South Korea, represented more than half of total import. Brazil (8.8K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +13.9%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the largest cored arc-welding wire importing markets worldwide were Mexico ($103M), Canada ($93M) and the United States ($83M), together accounting for 23% of global imports. China, Japan, Indonesia, Thailand, India, Italy, Vietnam, Brazil, the United Arab Emirates and South Korea lagged somewhat behind, together comprising a further 33%.
Indonesia, with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average cored arc-welding wire import price stood at $3,369 per ton in 2022, increasing by 12% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Global import price peaked at $3,596 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($5,227 per ton), while Japan ($1,717 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.6%), while the other global leaders experienced mixed trends in the import price figures.
Exports
World Exports of Cored Base Metal Wire For Electric Arc-Welding
Global cored arc-welding wire exports totaled 362K tons in 2022, remaining relatively unchanged against the year before. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 16%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, cored arc-welding wire exports expanded markedly to $1.2B in 2022. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.
Exports By Country
China represented the major exporting country with an export of around 111K tons, which resulted at 31% of total exports. South Korea (55K tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (12%), the United States (8.7%) and Japan (4.7%). Poland (16K tons), Italy (14K tons), the Netherlands (9.4K tons), Germany (9.1K tons), Malaysia (8.2K tons) and the Czech Republic (8K tons) followed a long way behind the leaders.
Exports from China increased at an average annual rate of +7.2% from 2012 to 2022. At the same time, Vietnam (+10.9%), Italy (+4.7%) and Germany (+3.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.9% from 2012-2022. Poland and South Korea experienced a relatively flat trend pattern. By contrast, Malaysia (-3.1%), Japan (-3.2%), the Netherlands (-3.2%), the United States (-5.8%) and the Czech Republic (-7.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Vietnam increased by +14 and +7.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($220M), the United States ($199M) and South Korea ($145M) appeared to be the countries with the highest levels of exports in 2022, together accounting for 48% of global exports. Vietnam, Japan, Germany, Italy, Poland, the Netherlands, the Czech Republic and Malaysia lagged somewhat behind, together accounting for a further 34%.
In terms of the main exporting countries, Vietnam, with a CAGR of +7.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average cored arc-welding wire export price amounted to $3,256 per ton, picking up by 13% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The global export price peaked at $3,307 per ton in 2012; afterwards, it flattened through to 2022.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($7,009 per ton), while Vietnam ($1,848 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global cored arc-welding wire market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931530 - Base metal cored wire for electric arc-welding (excluding wire and rods of cored solder, the solder consisting of an alloy containing 2 % or more by weight, of any one precious metal)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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