DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Tungsten Carbide Powder Market by Grade (Rotary Drilling & Mining, Metal Forming & Wear), Application (Machine Tools & Components, Cutting Tools), End-Use Industry (Mining & Construction, Industrial Engineering), and Region - Global Forecast to 2026" report to their offering.
The global tungsten carbide powder market is projected to grow from 14.78 Billion in 2016 to USD 24.90 Billion by 2026, at a CAGR of 5.4% during the forecast period.
Growing demand for tungsten carbide powder from various end-use industries, such as mining & construction, industrial engineering, and transportation industries is driving the growth of the global tungsten carbide powder market.
The rotary drilling & mining grade segment accounted for the largest share of the global tungsten carbide powder market in 2016. Superior impact resistance, stiffness, and high-performance ability in severe working conditions make rotary drilling & mining one of the most preferred grades for tungsten carbide powder.
The machine tools & components application segment accounted for the largest share of the global tungsten carbide powder market in 2016. Increasing adoption of tungsten carbide powder for developing various components such as nozzles, inserts, rods, sheets, buttons, bits, tips, strips, and balls, among others, for various end-use industries are anticipated to drive the demand for tungsten carbide powder in the near future.
The mining & construction end-use industry accounted for the largest share of the global tungsten carbide powder market in 2016. Growth of this segment can be attributed to the increasing oil & gas exploration activities and rising government spending towards the development of infrastructures.
Market Dynamics
Drivers
- Growing Demand for Industrial Machinery
- Outstanding Properties of Tungsten Carbide Powder
Restraints
- Oversupply of Tungsten By China
Opportunities
- Emerging Alternative to Depleted Uranium
- Adoption of Tungsten Carbide in 3D Printing Technology
Challenges
-
Slowdown in Chinese Manufacturing Sector
Companies Mentioned
- Buffalo Tungsten Inc.
- Ceratizit S.A.
- China Tungsten Online (Xiamen) Manu. & Sales Corp.
- Dmegc
- Eurotungstene
- Extramet
- Federal Carbide Company
- Global Tungsten & Powders (Gtp)
- Guangdong Xianglu Tungsten Co., Ltd.
- H.C. Starck
- Japan New Metal Co., Ltd.
- Jiangxi Yaosheng Tungsten Co., Ltd.
- Kennametal Inc.
- Lineage Alloys, Inc.
- Nanchang Cemented Carbide Co., Ltd.
- Reade International Corporation
- Sandvik Ab
- Zigong Huagang Cemented Carbide New Materials Co., Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/t9hkqs/tungsten_carbide
