TUNGSTEN ELECTRODE MARKET ANALYSIS

Tungsten Electrode Market, by Product Type (Pure Tungsten, Thoriated Tungsten, Lanthanum Tungsten, Cerium Tungsten, and Others (Yttrium Tungsten, Zirconiated Tungsten, and others)), by Application (TIG Welding, Plasma Welding, Thermal Spray, and Cutting), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Outlook

Among application, Tungsten Inert Gas (TIG) welding segment held a significant market share in the global tungsten electrode market in 2017. At 3.422° Celsius, tungsten electrode has the highest melting temperature amongst pure metals. As a result, the electrode is not consumed during TIG welding and it utilizes tungsten electrodes to join the metals in which electrode is shipped without ground tip. Tungsten electrode improves and maintains acceptable starting and arc stability while decreasing burn-off in Tungsten Inert Gas (TIG) welding. These factors are expected to drive growth of the segment over the forecast period.
North America held a dominant position in the global tungsten electrode market in 2017 and it is expected to retain its dominance during the forecast period. This is owing to the presence of key players include Diamond Ground Products, Astaras, Inc. in the region. Moreover, key players are focused on development of new tungsten electrodes to expand their share in the market. For instance, Astaras, Inc. provides tungsten electrodes for application of MIG and TIG welding in North America. The company also offers new tungsten electrodes such as E3 tungsten electrode in the region. The E3 Tungsten has 1.5% lanthanum oxide instead of 2.0% of thorium oxide and offers stable tip geometry with less erosion and improves Arc starting. Every E3 electrode is tested for structural defects by using an eddy current test method.