According to a market report by Lucintel, the future of the global tungsten electrode market looks promising with opportunities in the TIG welding, plasma welding, cutting, and thermal spray markets. The global tungsten electrode market is expected to reach an estimated $3.2 billion by 2030 from $1.6 billion in 2024,at a CAGR of 11.6% from 2024 to 2030. The major drivers for this market are increasing demand for tungsten electrodes in the welding industry and growing adoption of TIG (tungsten inert gas) welding processes.
A more than 150-page report to understand trends, opportunity and forecast in tungsten electrode market to 2030 by type (pure tungsten, thoriated tungsten, lanthanum tungsten, cerium tungsten, yttrium tungsten, and others), application (TIG welding, plasma welding, cutting, thermal spray, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that lanthanum is expected to witness highest growth over the forecast period due to its good weldability, arc stability, and high-temperature tolerance.
Within this market, TIG welding is expected to witness highest growth due to its ability to handle a wide range of materials.
In terms of regions, APAC is expected to witness highest growth over the forecast period due to rapid industrialization and growing focus on high-quality electrodes.
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Diamond Ground Products, E3, Weldstone, Winner Tungsten Product, Huntingdon Fusion Techniques, Wolfram Industries, Metal Cutting, BGRIMM, ATTL Advanced Materials, SUNRAIN Tungsten are the major suppliers in the tungsten electrode market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]To get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
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Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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