Report forecasts growth in global aluminum welding wires market

Dublin-based Research and Markets has released the report “Global Aluminum Welding Wires Market 2017-2021,” which forecasts the market to grow at a CAGR of 6.25 percent from 2017 to 2021.

Commenting on the report, an analyst from the research team said, "One trend in market is inclusion of Ti and Sr in ER4043 aluminum alloy welding wire. The inclusion of Ti and Sr in ER4043 aluminum welding wire pertaining to its microstructure has proven to change the eutectic silicon morphology and has led to the development of ER4043 aluminum rods properties. The proportional addition of Sr refines the process, thereby resulting in enhanced properties for the aluminum welding wires."

According to the report, one driver in market is increasing demand for lightweight vehicles. The global demand for aluminum has been on the rise with the growing demand for lightweight vehicles that use materials such as aluminum as a welding material to bring down the overall weight of a vehicle. The implementation of stringent global standards, such as the national pollution-control standards set by the U.S. Department of Transportation or the U.S. EPA, also has fueled demand for aluminum welding wires. Aluminum is identified as a versatile material and is the second most chosen material after steel. It is used for applications such as building and construction, electrical, machinery, automotive, and transportation.

The report states that price competition from Chinese suppliers is a challenge. China, the largest producer and consumer of aluminum, tries to balance its internal market by discouraging the export of primary aluminum by imposing high duties. The government also is providing tax rebates for the export of semifabricated and value-added products. As a result, the other regions of the world are facing high competition from semifinished products from China. In addition, the increase in prices is absorbed by importers of primary aluminum and transferred to downstream products such as aluminum wire rods (raw material), powders, pastes, and flakes, thereby hindering market growth.

For more information, visit www.researchandmarkets.com/publication/mdrfnz2/4231721.