In 2023, imports of electro-weld rod cores and coatings to India stood at an actual value of approximately 30.5 million USD. In the upcoming years, forecasted values show a steady annual increase. The year-on-year percentage increase from 2024 to 2025 is approximately 3.38%, from 2025 to 2026 is about 3.21%, and from 2026 to 2027 is around 3.05%. The compound annual growth rate (CAGR) for the period from 2024 to 2028 is estimated at roughly 2.99%, indicating a modest upward trend in imports.
Future trends to watch for:
- Potential impact of global trade policies on import tariffs.
- Technological advancements in the welding industry driving demand.
- Economic growth in India, influencing industrial activities.
- Shifts in raw material availability and international supply chain dynamics.
