The global production of Tungsten Electrode increases to 1650 MT in 2016 from 1350 MT in 2012, at a CAGR of 5.14%. In 2016, the global Tungsten Electrode market is led by The China, capturing about 78.26% of global Tungsten Electrode production volume.
The Tungsten Electrode revenue was 91.91 M USD in 2016 and is expected to reach 102.41 M USD in 2022, growing at a CAGR of 1.82% from 2016 to 2022.
Tungsten Electrode downstream is wide and recently Tungsten Electrode has acquired increasing significance in various fields of TIG Welding, Plasma Welding, Cutting, Thermal Spray and Other Application. The Tungsten Electrode market is mainly driven by growing demand for TIG Welding which account for nearly 41.09% of total downstream consumption of Tungsten Electrode in global in 2016.
Based on types of Tungsten Electrode available in the market, the report mainly separates the market into Pure Tungsten, Thoriated Tungsten, Lanthanum Tungsten, Cerium Tungsten, Yttrium Tungsten and Others. The market for Thoriated Tungsten accounted for the largest market share in 2016.
At present, the major players of Tungsten Electrode are BGRIMM, ATTL Advanced Materials, Winner Tungsten Product, Weldstone, E3, Metal Cutting, Wolfram Industrie, Diamond Ground Products, SUNRAIN Tungsten, Huntingdon Fusion Techniques, etc. The top five of them is holding more than 57% sales market share in 2016.