Tungsten Carbide Powder Market Size, Revenue Analysis, Opportunities, Trends, Product Launch To 2022–2030
The Tungsten Carbide Powder Market Analysis is segmented by grade, application, end-use industries, and region.
Various grades
of tungsten carbide powder are available in the market such as rotary drilling
& mining, metal forming & wear, submicron, corrosion resistant, general
purposes, and others. Among these, the rotary drilling & mining grades are
the leading segments in the market owing to high impact resistance, stiffness,
and ability to perform in severe conditions.
The application
segment includes cutting tools, wear parts, roll & die, diamond tools,
mining tools, and abrasive products. The carbide cutting tools are often used
for machining through materials such as carbon, stainless steel, and in
situations where other tools would wear away. They offer a better finish and
allow faster machining at a much higher temperature than standard high-speed
steel tools.
The mining &
construction end user segment is leading the market growth owing to the high
product demand in top-hammer rock drill bits, downhole hammers, roller-cutters,
longwall plough chisels, longwall shearer picks, raise boring reamers, and
tunnel boring machines. This growth is attributed to its superior properties
such as resistance to abrasion & impact, toughness, and hardness.
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Regional
Analysis
The Tungsten
Carbide Powder Market Analysis is segmented into five regions namely Asia
Pacific, North America, Europe, Latin America, and the Middle East &
Africa.
Asia Pacific
dominated the Tungsten Carbide Powder Market Analysis in 2016 on account of the
high demand from the major end-use industries such as construction, transportation,
and aerospace in countries such as Japan, India, China, and others.
North America
was the second largest region in the Tungsten Carbide Powder Market Analysis in
2016 owing to the high demand from the military & defense, automotive, and
aerospace industries.
The high product
demand from the manufacturing of various automotive parts in Western European
countries is likely to influence the market growth.
The Latin
American region is expected to grow significantly due to the growing automotive
industry in the region.
The increasing
exploration of oil & gas reserves and infrastructural hub present in the
GCC countries is likely to drive the market in the region.
Competitive
Analysis
Some of the
manufacturers operating in the Tungsten Carbide Powder Market Analysis are
Sandvik AB (Sweden), Kennametal (U.S.), CERATIZIT S.A. (Luxembourg), Federal
Carbide Company (U.S.), GuangDong XiangLu Tungsten Co.,Ltd (China), Nanchang
Cemented Carbide Co., Ltd. (China),
JAPAN NEW METALS CO., LTD. (Japan), Umicore (Belgium), ChinaTungsten (China),
H.C. Starck GmbH (U.S.), Reade
International Corp., (U.S), and Merck KGaA (Germany).
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