- Ability to support higher productivity and enhanced versatility boost uptake levels
LONDON, May 24, 2013 /PRNewswire/ -- Numerous benefits are set to drive the uptake of flux cored wires across a range of end-user sectors. Adoption levels are projected to be particularly strong in sectors such as energy and construction.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Global Flux Cored Wires Market, finds that the market earned revenues of $1,811.2 million in 2012 and estimates this to reach $2,560.7 million in 2017.
"The ability to support higher productivity, enhanced versatility and properties such as corrosion resistance are spurring demand for flux cored wires," noted Frost & Sullivan Industrial Automation & Process Control Program Manager Archana Chauhan. "An increase in investments is expected in the next two years, positively impacting on market prospects."
Improved efficiency is the lynchpin in sustainable production strategies that end users are planning to implement over the next 3-4 years. Flux cored wires are expected to play an important role in helping them achieve this goal.
"Market expansion will be largely driven by infrastructure developments in emerging economies such as India and China and the growth of end-user sectors such as energy and construction," remarked Chauhan. "Renewable energy sectors in EMEA and North America are also central to the long-term growth strategies of flux cored wire manufacturers."
To leverage these opportunities, market participants need to design flux cored wires with higher deposition rates. Increased productivity as well as improved safety and control capabilities are equally important factors in supporting and sustaining growth.
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Global Flux Cored Wires Market is part of the Industrial Automation & Process Control Growth Partnership Service programme. Frost & Sullivan's related research services include: Global Solid Wires Market, Global Submerged Arc Welding Market, Global Welding Equipment and Consumables Market, and World Arc Welding and Filler Metals Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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SOURCE Frost & Sullivan