Global Welding Powder Market Size will Reach $7552.48 Million in 2023

Global Welding Powder Market Overview

According to Global Market Monitor, the global welding powder market size will reach $7552.48 million in 2023 with a CAGR of 4.75% from 2023 to 2028.

Welding powder generally refers to exothermic welding powder, which is a flux used in exothermic welding. Exothermic welding is a method that uses exothermic flux chemical reaction as a heat source to generate high temperatures and achieve the purpose of welding through the investment mold.

Welding Powder Industry has a Wide Application and Stable Downstream Demand.

Welding has the advantage of high-cost performance. In today's society, it has been widely used in various industrial and civil fields. The application area and operation volume of welding far exceed other metal connection methods, making welding the most common metal connection method. Welding has penetrated all areas of manufacturing, which directly affects product quality, reliability, cost, production efficiency, and market response speed, and is required in approximately 60% to 70% of steel worldwide. Welding has been widely used in military, aerospace, heavy equipment manufacturing, engineering construction, light industry, civil and other fields. Stable downstream demand ensures the demand for welding powder.

China Dominated the Market.

China dominated the market with a market share of 27.57% in 2022 due to a large number of equipment manufacturers and the growing number of consumables producers. The country’s manufacturing sector largely influences the market and supportive government policies in the country have helped the market grow. China has also made a significant investment in research & development in recent years, which has accelerated market growth. Due to the abundant and cheap labor supply, Southeast Asia has attracted more and more investment from large manufacturing industries. Many manufacturing companies have set up factories in the region, among which China and India have developed rapidly. The development of manufacturing has driven the region's demand for construction materials such as Welding Powder.

By Type	Ferrous Based
	Silver Based
	Copper Based
	Aluminum Based
	Nickel Based
	Others
	The ferrous-based segment held the largest market share in 2022.
By Application	Shipping Industry
	Mechanical Industry
	Electronics Industry
	Oil Industry
	Coal Industry
	Others
	The mechanical industry segment occupied the biggest share.
By Region	North America
	Europe
	Asia-Pacific
	Latin America
	Middle East & Africa
	China dominated the Welding Powder market in 2022, with a market share of 27.57%.