The aluminum welding wires market share in Europe is set to grow by 4.93 thousand MT, accelerating at a CAGR of 2.12% during the forecast period. Increasing demand for lightweight vehicles will offer immense growth opportunities to market growth. In addition, innovation in welding technologies is the major aluminum welding wires market trend that will positively influence the market growth. However, factors such as fluctuating LME prices influencing premiums and production plans may hamper the market growth.
Technavio's research report analyses the growth trajectory of the market with a purview of the prevalent market scenarios, trends, and drivers. It also provides competitive bench-marking of the key market players and their product portfolios. Unlock Free Sample Analysis Report
The market is fragmented due to the presence of several players. Colfax Corp., CTP Srl, DRAHTWERK ELISENTAL W. Erdmann GmbH & Co., EWM AG, Gedik Kaynak AS, Hilarius Haarlem Holland BV, Hi-Tech Wire Industries, LAIR LIQUIDE SA, Novametal SA, and The Lincoln Electric Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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