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India Welding Consumables Market to Reach US$ 1,494.20 Million by 2027, Supported by Rapid Industrialization

Published on Jun 08, 2022

According to the latest report by IMARC Group, titled “India Welding Consumables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India welding consumables market reached a value of US$ 1,022.10 Million in 2021. Welding consumables represent a set of reliable flux and filler metal equipment used in the welding process. Amongst these, filler metals are melted to create strong joints, whereas flux is employed to produce a shield of gas around the weld as a deoxidizer to inhibit the oxidation of hot metals. Welding consumables are manufactured from various raw materials, such as low alloy steel, ilmenite, rutile, copper, nickel, and aluminum. This blend of matter aids in preventing contamination of molten weld, mitigating the formation of porosity, and providing a strong bond between base metals cost-effectively.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

India Welding Consumables Market Trends:

With rapid industrialization and the significant expansion in the commercial sector, there has been an increasing demand for improved infrastructural facilities and customized tools to perform welding activities. This, in turn, is primarily driving the market growth in India. In line with this, the rising need for lightweight and high-quality vehicle parts with enhanced safety features, reduced environmental impact, and evolved designs have supplemented the widespread adoption of welding consumables across the automotive and aerospace sectors, which is acting as another growth-inducing factor. Additionally, the extensive deployment of welding consumables in the energy sector and power plants to compose on-site storage for liquified gasses is contributing to the market growth. Furthermore, the introduction of smart welding robots integrated with the Internet of Things (IoT) for making operational processes leaner and speeding up the existing processes to provide multi-functional product designs and reduce waste are propelling the market growth. Other factors, such as the ongoing construction activities across the country, usage of dissimilar metal welding through fiber laser, and strategic collaborations amongst key players to enhance the welding consumables efficacy, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,494.20 Million by 2027, growing at a CAGR of 6.40% during 2022-2027.

Market Summary:

  • Based on the product, the market has been segmented into stick electrodes, solid wires, flux cored wires, SAW wires and fluxes, and others. Amongst these, stick electrodes dominate the market.
  • On the basis of the welding technique, the market has been classified into arc, resistance, oxyfuel, ultrasonic welding, and others. Presently, arc welding holds the largest market share.
  • Based on the end use industries, the market has been segregated into construction, automobile, energy, shipbuilding, aerospace, industrial equipment, and others. The construction industry presently dominates the market, holding the majority of the market share.
  • Based on region, West and Central India lead the market, followed by North, South, and East India. 
  • The competitive landscape of the industry has also been examined, along with the profiles of the key players.

 

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