Conditions continue to improve with hardgoods and gas revenues showing a clear sequential uptick, according to the Baird/gasworld second quarter (Q2) 2021 Welding and Industrial Gas Survey.
Hardgoods sales increased sharply by 21.5%, an improvement from +4.2% in Q1, while sales of gases were also up 21.5% compared to +4.3% in Q1. Implied hardgoods volume increased 12.4% (+1.2% last quarter). Respondents reported largely a better-than-expected quarter with improving business activity through the quarter.
Hardgoods pricing improved sequentially, up 9.1% year/year compared to +3.0% in Q1, and gases pricing rose 4.3 year/year, up from 2.1% last quarter. An overwhelming majority expects to be able to fully pass through rising input costs. Many respondents called out challenges throughout the supply chain.
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