Indonesia is a must-do market for welding business now!
Market Area With Growth Prospects :
- Indonesia is geographically well positioned to act as a regional base in Southeast Asia. A member of the G-20, Indonesia has a population of 240 million, representing the largest market in Southeast Asia and the fastest growing economy after China and India.
- The Indonesian government will invest IDR 4,021 trillion or approximately USD 400 million for the construction of roads, seaports, airports, railroads and power plants to support the development of Indonesia Economic Corridors under the Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI).
- Considering Indonesia is focused on infrastructure development, domestic steel demand in Southeast Asia’s largest economy is estimated to rise to 21.4 million tons by 2025 This means there exists a very interesting steel market in Indonesia that can be tapped by domestic players.
- The government aims to see domestic steel production capacity rise to 12 million tons by 2019, followed by 17 million tons by 2024, and to 25 million tons by 2035. However, this target – set in the National Industry Development Masterplan (in Indonesian: Rencana Induk Pembangunan Nasional, or RIPIN) – will require private investor involvement.
- Automotive & transportation is estimated to be one of the fastest-growing segments of the welding consumables market in Indonesia from 2015 to 2023. Oil & gas, building & construction, and power sectors are the other major end-users of welding consumables in Indonesia.