The import of coated electrodes of base metal for electric arc-welding to India is projected to grow steadily from $17.931 million in 2024 to $18.708 million by 2028. This represents a consistent year-on-year increase, indicating a stable demand in the industry. For context, in 2023, the import value stood slightly below the 2024 figure, reflecting a gradual positive growth trajectory.
Year-on-year growth rates are as follows:
- 2024-2025: 1.12%
- 2025-2026: 1.09%
- 2026-2027: 1.05%
- 2027-2028: 1.01%
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.08%, indicative of manageable and predictable expansion in this sector.
Future trends to watch for include developments in domestic manufacturing capabilities, advancements in welding technologies, and shifts in trade policies which could affect import levels. Additionally, the increasing focus on infrastructure development in India could further drive the demand for welding materials.
