Welding is reliable, cost-effective and high-tech method for joining materials in manufacturing industries. Electrodes are heart for manufacturing to join metals and alloys efficiently to add value to their products. Welding today is applied with advanced technologies as lasers and plasma arcs & Submerged arcs. The future of welding holds even greater promise as methods are devised for joining dissimilar and non-metallic materials, and for creating products of innovative shapes and designs.
Welding is most critical operation of any manufacturing process and right electrodes to use for quantity and quality of welding has direct impact on quality of final product. Prior labor intensive but now semi auto & fully automated systems have been developed to counter human errors.
Welding consumables market is expected to grow at a CAGR 10-11% over next five years. Continuous electrodes would witness higher growth compared to Manual Electrodes. Stick electrodes are losing its market share to wires and fluxes to growing usage across the end-use industries and their advantages such as high deposition rate, strong welds, and suitability for outdoor work.
With expected growth in Automobile, Shipbuilding & Repairs, Railways, Infrastructure Developments like Bridges Tunnels construction etc. we anticipate the growth of Welding consumable also to grow.
Robotic Welding for TUBE to FIN Welding, Automated welding system for manufacturing of bifurcate components. GMAW process established for welding of hand holed pipe to dished end (header), GMAW / FCAW technology for welding of piping joints for boiler & turbine at site. TIG welding for high wall thickness tubes.
However, increasing price of steel is expected to impact the prices of welding consumables and thereby the revenue. This could be passed to the consumers easily.
Road Ahead
OEM business growth would directly trigger growth in this segment. Overall Government spending on Infra would be added advantage. Overall Growth of 9-11% in this segment achievable.
BENEFICIARIES : ESAB INDIA, ADOR WELD, DE NORA INDIA, PANASONIC CARBON.
