Albany, NY -- (SBWire) -- 11/06/2018 --The growth in the construction activities is a key factor boosting the demand for welding consumables. Industrialization and urbanization in the developing nations of the Middle East and Africa region is anticipated to drive the market for welding consumables in the years to come. A high growth can be seen in the automobile industry across the European and the Middle Eastern region and since this is one of the key application areas of welding consumables, the market for the same will witness a remarkable growth. The development of advanced welding technologies and the adoption of the same, extensively in European countries, will push the growth of the market for welding consumables. However, slow adoption of advanced welding technologies in the under developed nations of Africa shall pose a challenge for the growth of the market.

A report by Transparency Market Research (TMR), estimates the EMEA welding consumables market will display a positive, albeit modest, growth during the forecast period between 2014 and 2020. Expanding at a CAGR of 4.3% over the forecast period, the market's valuation of US$3.3 bn in 2013 will become US$4.55 bn by 2020. Vis-à-vis volume, the market displayed a demand worth 1,236.2 kilo tons in 2013.

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Among the key types of welding consumables, the demand for stick electrodes surpasses amongst other segments in the Middle East and Africa. On the other hand, the segments of wires and fluxes display more demand over other segments in developed countries in Europe.

Key application segments of EMEA welding consumables market include automobile and transportation, building and construction, marine, and others. The construction segment is witnessing tremendous growth leading to the upsurge in demand for welding consumables in the region. Geography-wise, the market is segregated into Africa, Europe, and the Middle East.

High Labor Cost in Europe Hampers Growth

On the flip side, the growth of welding consumables market is likely to be hampered due to lack of skilled labor and high cost of skilled labor in developed regions of Europe and the Middle East.

Advances in welding technology and adoption of the same, especially in European countries is likely to bode well for the welding consumables market. Contrarily, sluggish demand for advanced welding technologies in under developed regions of Africa is likely to challenge growth of the EMEA welding consumables market.

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The Europe Middle East and Africa (EMEA) welding consumables market is marked by the prominence of a few large companies such as Voestalpine AG, ESAB, Lincoln Electric, and ITW. ESAB, however, emerged as the clear leader holding almost 15% of the market share in 2013. Some other leading vendors in the EMEA welding consumables market include Welding Alloys Ltd., Valk Welding B.V., Afrox, and Air Liquide. Players in the market have adopted the organic and inorganic growth route to bolster their position.