WELDING INDUSTRY MARKET: CURRENT SITUATION AND FORECASTS
Industry trends review by Weldex
In 2020–2021, the world economy has been subjected to sharp market fluctuations. The welding industry and manufacturers of metallurgical products were affected the most due to decreased demand for metal. This was largely caused by the pandemic situation and suspension of production and construction projects; first in China and then in other countries.
As the Chinese economy started to recover in May 2020, the trend began to positively change. In Q3, there was an acceleration in price growth, which continued until the beginning of 2021.
The reason for this unstable dynamic is a drop in demand for metallurgical products in many producing countries. During the first wave of the pandemic, enterprises, blast furnaces, and converters were closed.
China with its massive government stimulus program was the first country to see a rebound in economic activity. As a result, there was a sharp increase in domestic demand for metal products and an increase in prices for steel products around the world.
Structure of steel production by regions in 2020, %. | Source: Bloomberg
Research of the Russian and world markets of welding equipment, according to MarketsandMarkets, shows a positive compound annual growth rate, including the pandemic year and forecast until 2030. This means that the demand for welding products is steadily growing and the market needs to look for ways to meet this demand, despite the unstable situation in raw materials market:
World and Russian market of welding equipment, forecast (2019–2030) | Source: MarketsandMarkets
Sources: Bloomberg, MarketsandMarkets, delprof.ru
As part of Weldex 2021, a blitz analytics session was held where experts from leading analytical companies (MarketsandMarkets and MetalResearch) and industry market leaders (ESAB, Vector Group, and others) discussed the state of the modern international and Russian market of welding technologies, materials, and equipment, including industry development forecasts.
We are already developing an interesting Business Programme for Weldex 2022, where leading experts will share analytical and market news and highlight current topics and industry trends.
Annually, Weldex brings together both loyal participants who have been demonstrating their achievements and developments at the exhibition for more than 10 years in a row, as well as companies that took part for the first time. In 2021, 15 companies made their Weldex debut and positively assessed the effectiveness of their participation.
Schedule your company’s participation in Weldex 2022 now and stay up to date with news from the world of welding!
In 2022, the 21st International Exhibition of Welding Materials, Equipment and Technologies Weldex will be held from 11 to 14 October at Crocus Expo IEC.
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