Sales volume of welding filler materials ‘AKWELD’ 2023
According to statistics and forecasts by Apollo (APO Research), the global solder market was estimated to be worth USD 12.4 billion in terms of sales in 2024 and is expected to grow at a healthy growth rate of more than 3.0% during the forecast period of 2025-2030.
Since the beginning of 2019, China’s welding consumables market size has shown year-on-year growth, with the market size reaching 38.11 billion yuan in 2022, representing a year-on-year growth of 15.1%. In terms of segmentation structure, at present, the market has formed a pattern with welding rods and gas-shielded solid wires as the main body, supplemented by flux-cored wires, submerged arc welding materials and flux. With the improvement of engineering demand for welding efficiency and the popularity of welding robots, the development of solid wire, flux-cored wire and high-efficiency submerged arc welding consumables suitable for automated welding has accelerated significantly.
In 2023, the market size of China’s welding rods, solid wires, and flux-cored wires will reach 9,372, 16,171, and 6,848 million yuan, respectively, accounting for 24.59% of the total market of welding consumables, and 42.43% of the total market of welding consumables, 17.97%. In terms of supply and demand in the Chinese market, the production and demand of China’s welding consumables industry in 2022 will be 4,760,000 and 4,044,000 tonnes respectively, with a year-on-year growth of 3.5%, 3.4%. The production cost of welding materials mainly includes raw materials, fuel and power, wages, depreciation and manufacturing costs, of which raw material costs account for the largest proportion. Influenced by the upstream steel and non-ferrous metal price fluctuation, the average price of welding material market has increased significantly in recent years, and the average price of China’s welding material market in 2023 will be RMB 9,423.6 per tonne.