Tungsten electrode Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Tungsten electrode Market Growth and Trends
The global Tungsten Electrode market size is poised to reach US 111.7 million by 2026, from US 99.2 million in 2020, at a Compound annual growth rate of 2.0% during its forecast period
The several factors driving the growth of the market includes:
• The rising demand for electrodes that provide a smaller rate of vaporization thus, can be used in the market for the efficiency of direct current systems that has led to its escalated growth globally
• The rising utilization of these electrodes in in industries like electronics and manufacturing that boosts the market’s growth
• The rising industrialization in the PCB market bringing about vast opportunities for the market’s revenue
• Ensured precision and cleanliness on the processes like welding that boosts the market growth
• Rising utilization of alloys
• In the flexibility of processes like incorporation of stainless steel, aluminium, nickel alloys, and gold as well that raises the market’s profitability
• Usage of Tungsten Electrodes on high-scale in the automotive workforce for building and repair that promotes the market’s growth
• Production of quality and quantity welds in the welding industry with the usage of tungsten electrode market
• A higher heat output that maximizes the market’s growth during its forecast period
• Reliable outputs without sparks or danger of smokes and fumes that could bring about several benefits to the market’s growth
• Reduced slagging that protects products manufactured from risks like contamination and corrosion-resistance that drives in more consumers to the market along with key market strategies
• Is affordable so can be utilized by consumers all over the world
Challenges:
Some challenges faced by the market includes:
• Some metals that cannot be supported by the Tungsten Electrode Market thus, bringing about lower efficiency in the utilization of such metals in the market with consumers moving out to alternatives that are more reliable and durable at performing its operational functions while supporting a variety of metals in the market which gradually declines the demand for the tungsten electrodes with it losing its consumer base
• Fluctuating pace of working for different systems by utilizing these tungsten electrodes which might not work in the favor of most consumers who want multi-purpose systems that can work fast thus, lack of this market meeting the purposes of consumers might largely hinder the growth of it.
• The inability to be utilized in applications with larger amperes which would further hamper the market’s economic stability thus, the growth
• The difficulty in multi-functioning which would be very time consuming and would definitely not be worth the price consumers pay to get it working which is not desirable to most of them alongside, all the glitches and technological barriers faced which will eventually, shift the demand in the consumers’ market choice to its arising opportunities while declining its market growth
• Rising expenses of components used in assembling these electrodes that increases the overall cost of utilizing the market this, hampering its market growth because consumers would not be willing to pay a large amount to purchase devices that are not worth the price given.
Tungsten electrode Industry Regional Analysis
Tungsten electrode Market Research Report Scope/Definition
For the purpose of this market research report, the tungsten electrode is defined as a critical component used during arc welding with the Tungsten Inert gas (TIG) or during plasma welding. Tungsten electrode is used because it is capable of handling very high temperatures with less melting or erosion. When choosing a tungsten electrode, certain aspects such as the electrode diameter, grinding quality, and roughness of the electrode, and the tungsten electrode type are essential to take into consideration. Tungsten electrodes can contain small quantities of other metallic oxides such as lanthanum oxide, thorium oxide, or zirconium, which can offer the following benefits such as; facilitating arc starting, increased stability of the arc, improve the current-carrying capacity of the rod, reduce the risk of weld contamination, and, an increase in the electrode life. The different types and sizes of tungsten electrodes can be used in various applications of welding. Welders develop preferences based on their welding style as well as the project undertaking.
Tungsten electrode Market Share and Competition
Key companies operating in this industry are: Diamond Ground Products, E3, Weldstone, Winner Tungsten Product, Huntingdon Fusion Techniques, Wolfram Industry, Metal Cutting, Bgrimm, ATTL Advanced Materials, and Sunrain Tungsten
Tungsten electrode Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Pure Tungsten
• Thoriated Tungsten
• Lanthanum Tungsten
• Cerium Tungsten
• Yttrium Tungsten
• Others
Application Analysis (Revenue, USD Million, 2021 - 2028)
• TIG Welding
• Plasma Welding
• Cutting
• Thermal Spray
• Others
Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Tungsten electrode Industry Companies
• Diamond Ground Products
• E3
• Weldstone
• Winner Tungsten Product
• Huntingdon Fusion Techniques
• Wolfram Industrie
• Metal Cutting
• Bgrimm
• ATTL Advanced Materials
• Sunrain Tungsten
Available Versions of Tungsten electrode Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
