Welding gas/shielding gas market to be worth $9.46 billion by 2020

"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,” a report published by India-based MarketsandMarkets, projects the welding gas/shielding gas market to grow from $7.17 billion in 2015 to $9.46 billion by 2020 at an estimated CAGR of 5.7 percent.

Growth in this market is attributed to increasing use of welding gas and shielding gas in the construction and aerospace industries, as well as the rising demand for energy. Growing demand from the automotive industry—especially in the emerging Asia-Pacific and Latin American regions—also will contribute to market growth.

The metal manufacturing and fabrication sector held the largest share of the welding and shielding gas market. Regionally, Asia-Pacific held the largest share in 2014, mainly because of growing applications of welding and shielding gas in the construction, energy, metal manufacturing and fabrication, and automotive industries.

For more information, visit www.marketsandmarkets.com/market-reports/welding-shielding-gas-market-200200857.html.