Russian Federation: Coated Arc-Welding Electrode Market 2023

Coated Arc-Welding Electrode Market Size in the Russian Federation

The Russian coated arc-welding electrode market was finally on the rise to reach $X in 2021, after seven years of decline. Overall, consumption showed a deep downturn. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Coated Arc-Welding Electrode Production in the Russian Federation

In value terms, coated arc-welding electrode production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt descent. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Coated Arc-Welding Electrode Exports

Exports from the Russian Federation

In 2021, coated arc-welding electrode exports from Russia reached X tons, growing by 2.1% against the previous year. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 29%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, coated arc-welding electrode exports surged to $X in 2021. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +105.1% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Kazakhstan (X tons) was the main destination for coated arc-welding electrode exports from Russia, accounting for a 44% share of total exports. Moreover, coated arc-welding electrode exports to Kazakhstan exceeded the volume sent to the second major destination, Uzbekistan (X tons), threefold. The third position in this ranking was taken by Belarus (X tons), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+5.9% per year) and Belarus (-10.7% per year).

In value terms, the largest markets for coated arc-welding electrode exported from Russia were Kazakhstan ($X), India ($X) and Uzbekistan ($X), together accounting for 69% of total exports.

India, with a CAGR of +29.1%, saw the highest growth rate of the value of exports, among the main countries of destination 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 coated arc-welding electrode export price amounted to $X per ton, surging by 70% against the previous year. In general, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Tajikistan ($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 Turkmenistan (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports into the Russian Federation

After two years of growth, supplies from abroad of coated base metal electrodes for electric arc-welding decreased by -12.7% to X tons in 2021. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 47%. Imports peaked at X tons in 2020, and then dropped in the following year.

In value terms, coated arc-welding electrode imports expanded sharply to $X in 2021. Overall, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.8% against 2015 indices. The pace of growth was the most pronounced in 2017 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Belarus (X tons) constituted the largest supplier of coated arc-welding electrode to Russia, accounting for a 55% share of total imports. Moreover, coated arc-welding electrode imports from Belarus exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belarus amounted to +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-0.4% per year) and China (-12.4% per year).

In value terms, Belarus ($X) constituted the largest supplier of coated base metal electrodes for electric arc-welding to Russia, comprising 42% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by the Czech Republic, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belarus amounted to +26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.5% per year) and the Czech Republic (-4.8% per year).

Import Prices by Country

In 2021, the average coated arc-welding electrode import price amounted to $X per ton, increasing by 25% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Czech Republic ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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