There is a mixed picture for gas and welding distributors in the third quarter of the year, though conditions remain robust by most measures. Pricing edged higher for hardgoods and gases, but demand momentum is weakening on several fronts.
The findings come from the results of the Baird/gasworld Q3 2022 Welding and Industrial Gas Survey, which collated the views of 24 executives at industrial, scientific, and welding gas/hardgoods distributors and manufacturers with combined annualized revenues of around $2bn.
The figures and sentiment that are on show for Q3 mean that expectations for the year have tempered slightly – but it is only a very marginal weakening, and gas sales are still expected to be up by around 5% in the final quarter of the year compared with the Q4 2021 snapshot.
The picture is in part a reflection of the industrial gases supply chain continuing to pose a challenge. The availability of the industrial gases used in welding, CO2 and rare gases, is being squeezed by a raft of factors and market conditions, and there is no sign of a marked improvement on this front in Q3 compared with Q2.
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