U.S.: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in the U.S.

In 2021, after four years of growth, there was decline in the U.S. cored arc-welding wire market, when its value decreased by -1.8% to $X. The market value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Cored arc-welding wire consumption peaked at $X in 2020, and then shrank in the following year.

Cored Arc-Welding Wire Production in the U.S.

In value terms, cored arc-welding wire production fell slightly to $X in 2021. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped modestly in the following year.

Cored Arc-Welding Wire Exports

Exports from the U.S.

In 2021, overseas shipments of cored arc-welding wire were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a deep contraction. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cored arc-welding wire exports surged to $X in 2021. Over the period under review, exports, however, recorded a noticeable setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of cored arc-welding wire exports from the United States, together comprising 74% of total exports. Australia, Hong Kong SAR, Chile, South Korea, Brazil, Peru and Singapore lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +9.7%), while the other leaders experienced a decline.

In value terms, the largest markets for cored arc-welding wire exported from the United States were Canada ($X), Mexico ($X) and China ($X), together comprising 73% of total exports. These countries were followed by Hong Kong SAR, Australia, Chile, South Korea, Brazil, Peru and Singapore, which together accounted for a further 14%.

Hong Kong SAR, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cored arc-welding wire export price stood at $X per ton in 2021, growing by 4.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2020 when the average export price increased by 6.2% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Mexico ($X per ton), while the average price for exports to Australia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports into the U.S.

In 2021, overseas purchases of cored arc-welding wire were finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a slight setback. The most prominent rate of growth was recorded in 2018 with an increase of 21%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, cored arc-welding wire imports amounted to $X in 2021. Overall, imports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when imports increased by 26% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Canada (X tons) and Japan (X tons) were the main suppliers of cored arc-welding wire imports to the United States, together comprising 65% of total imports. These countries were followed by Italy, China, Vietnam and Taiwan (Chinese), which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +48.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), South Korea ($X) and Japan ($X) constituted the largest cored arc-welding wire suppliers to the United States, with a combined 59% share of total imports. Italy, China, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 24%.

Vietnam, with a CAGR of +54.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cored arc-welding wire import price stood at $X per ton in 2021, shrinking by -1.8% against the previous year. Overall, the import price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 23% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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