Welding Consumables Market in India: Growing Steel Sector Points to Thriving Growth

Steel consumption is considered a reliable indicator for quantifying welding activity. As per projections from the World Steel Association, demand for steel in India is projected to grow by 6.2% in 2015 and 7.3% in 2016 as compared to the increase in global steel consumption by 0.5% and 1.4% in 2015 and 2016, respectively.

Steel consumption is considered a reliable indicator for quantifying welding activity. With Indian consumption of crude steel gauged at approximately 50 MMT (million metric tonnes) for 2008, the Indian welding market was estimated at US$0.6 billion for the year. In India, welding contributes significantly to the GDP in several ways, such as welding intensive industries, auxiliary products, complementary goods, employment, and user industries. Welding is one of the major manufacturing processes and employs a large variety of material for fabrication of a large range of goods.

Browse Market Research Report of India Welding Consumables Market: 

Indian Welding Industry- An Overview

In India, some of the major industrial sectors that dominate demand for welding processes and consumables are:

  • Heavy Engineering Fabrication – The sector is the prime mover that contributes to the development and utilization of newer welding technologies. The growth of the sector accounts significantly to GDP and gives thrust to associated industries. The fabrication in this industry category is mainly for power, refineries, petrochemicals, and process plant industries.  

  • General Construction and Engineering – This industry category includes a large number of medium and small fabrication units, which presents the general image of the welding industry. Due to the large number, this industry category deserves larger attention.

  • Shipbuilding and Repair Services – Shipbuilding is one of the major contributors to the economy of the country. Worldwide, the overall improvement in the economic situation for inspection of pipeline painting has led to huge demand from the shipbuilding industry and in turn from the welding and welding consumables market.

  • Automation Production – The automobile sector has undergone a sea change in the last couple of years. Big names in automobile manufacturing across the globe have recognized the potential and invested heavily in the automobile sector in India. As per 2008 statistics, automobile production constituted 10% of Indian GDP.

  • Railways/Transportation – Indian Railways is one of the largest rail network in the world. Until independence in 1947, there were not any major welding activities, but in present times all major processes are used for the sector.

In the welding industry, welding consumables account for a significant share as compared to welding services and welding equipment. Estimates from a recent market study report by Transparency Market Research (TMR) project the welding consumables market in India to be valued at US$45.37 billion by 2020. 

Browse Press Release of India Welding Consumables Market: 

Here are some of the factors that determine the trajectory of the welding consumables market in India:
  • The demand for welding consumables is directly related to steel production in the country.
  • Stick electrodes are mainly used as a low-cost alternative for manual welding processes. For such reasons, stick electrodes held more than 45% of the market in 2013.
  • Due to attributes such as lower wastage, higher productivity, being suitable for automatic welding systems and outdoor work, and wide applications for several welding technologies, solid and flux cored wires will have higher preference.
  • The SAW wires and fluxes product segment is expected to account for more than 7% of the market by 2020.

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