India: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in India

The Indian cored arc-welding wire market rose notably to $X in 2021, with an increase of 8.9% against the previous year. The market value increased at an average annual rate of +4.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Cored Arc-Welding Wire Production in India

In value terms, cored arc-welding wire production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 20% against the previous year. Cored arc-welding wire production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports from India

In 2021, overseas shipments of cored arc-welding wire decreased by -10.9% to X tons, falling for the third year in a row after two years of growth. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 57% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, cored arc-welding wire exports reached $X in 2021. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of 58%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for cored arc-welding wire exports from India, accounting for a 36% share of total exports. Moreover, cored arc-welding wire exports to the United Arab Emirates exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. The third position in this ranking was taken by Nepal (X tons), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+10.0% per year) and Nepal (+43.4% per year).

In value terms, the United Arab Emirates ($X), Australia ($X) and Malaysia ($X) were the largest markets for cored arc-welding wire exported from India worldwide, together accounting for 51% of total exports. These countries were followed by Germany, Nepal, Kenya, Indonesia, Sri Lanka, Bangladesh, Kuwait, Uganda, Qatar and Russia, which together accounted for a further 36%.

In terms of the main countries of destination, Kenya, with a CAGR of +211.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cored arc-welding wire export price amounted to $X per ton, surging by 18% against the previous year. In general, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cored arc-welding wire export price increased by +97.2% against 2013 indices. The growth pace was the most rapid in 2019 an increase of 27% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cored Arc-Welding Wire Imports

Imports into India

Cored arc-welding wire imports into India soared to X tons in 2021, jumping by 58% compared with the year before. Over the period under review, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cored arc-welding wire imports soared to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Vietnam (X tons) and South Korea (X tons) were the main suppliers of cored arc-welding wire imports to India, with a combined 82% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +26.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire suppliers to India were China ($X), Vietnam ($X) and South Korea ($X), with a combined 60% share of total imports.

South Korea, with a CAGR of +22.0%, recorded the highest rates of growth with regard to 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

In 2021, the average cored arc-welding wire import price amounted to $X per ton, growing by 6.2% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2018 an increase of 8.2%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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