Lucintel's latest market report analyzed that welding wire provides attractive opportunities in the automotive, construction, aerospace, defense, and shipbuilding end use industries. The welding wire market is expected to reach $9.2 billion by 2028 with a CAGR of 4.8%. In this market, stainless steel is the largest segment by material, whereas construction is largest by end use industry.
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Based on material, the welding wire market is segmented into alloys, stainless steel, aluminum, and others. The stainless steel segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its increasing demand in the construction and automotive industries.
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The Welding Wire Market is marked by the presence of several big and small players. Some of the prominent players offering welding wire include Lincoln Electric, Kobe Steel, ESAB, Ador Welding, and Kiswel.
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