DUBLIN--(BUSINESS WIRE)--The "Tungsten Carbide Powder Market by Grain Size, by Grade, by Application, by End-Use Industry, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
The global tungsten carbide powder market is projected to reach $2,176.8 million by 2023, the market growth is driven by the increasing demand of tungsten carbide-based machine tools, cutting tools, abrasive products in automotive, construction, mining, transportation, and oil and gas industries.
Based on grain size, the tungsten carbide powder market is categorized into < 1 m, 1-10 m, and >10 m. Globally, the powder with grain size 1-10 m constituted the largest share in the market, accounting for more than 55% share in terms of volume in 2017. The market for this category is driven by the fact that the powder of this size is ideal for making variety of cutting tools, machine tools, and abrasive products.
On the basis of grade, the tungsten carbide powder market is classified into rotary drilling and mining, metal forming and wear, submicron, corrosion resistant, general purpose, and others (C15, C15A, C16, C17, C18, and C19). Globally, rotary drilling and mining grades accounted for the largest share in the market, accounting for more than 35% share in terms of value in 2017, driven by their large-scale demand in oil and gas, construction, and mining projects.
Based on application, the tungsten carbide powder market is categorized into machine tools and components, cutting tools, dies and punches, abrasive products, and others. Among these, cutting tools category was the largest application area in the market, in 2017, in terms of both value and volume, owing to the fact that tungsten carbide is widely used in manufacturing of cutting tools used in automotive and construction industries for metal cutting and stone working purpose.
On the basis of end-use industry, the tungsten carbide powder market is categorized into mining and construction (drill bits, inserts, and burr blanks), industrial engineering (chemical and fertilizers, fluid power manufacturing, and power generation and transmission), transportation (railways and automotive), oil and gas (exploration and drilling), aerospace and defense (aircraft and ammunition), and others (jewelry, medical, and sports). Globally, mining and construction is one of the major end-use industries in the market. The high demand for drilling tools, cutting tools, and machine component primarily manufactured using tungsten carbide powder is the major factor behind its significant share.
APAC accounted for the largest revenue share in terms of value in the global tungsten carbide powder market, accounting for more than 55% share in 2017. The high demand for the product is driven by growing consumption of the powder in manufacturing different tools and components to support the industrial sector of countries such as China, Japan, South Korea, and India.
Major opportunity identified in the tungsten carbide powder market is the product adoption in 3D printing technology. Recent innovations and the commercial adoption of 3D printing technology have allowed for the processing of tungsten carbide. This offers new growth opportunities for the market. In February 2018, Dyze Design, a 3D printing accessory developer, launched a set of tungsten carbide nozzles for integration in numerous fused deposition modeling (FDM) machines. The successful integration of tungsten carbide in supply chain is offering lucrative opportunities to the market players for growth.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Grain Size
126.96.36.199 <1 m
188.8.131.52 1-10 m
184.108.40.206 >10 m
4.1.2 By Grade
220.127.116.11 Rotary drilling and mining grades
18.104.22.168 Metal forming and wear grades
22.214.171.124 Submicron grades
126.96.36.199 Corrosion resistant grades
188.8.131.52 General purpose grades
184.108.40.206 Other grades
4.1.3 By Application
220.127.116.11 Machine tools and components
18.104.22.168 Cutting tools
22.214.171.124 Dies and punches
126.96.36.199 Abrasive products
4.1.4 By End-Use Industry
188.8.131.52 Mining and construction
184.108.40.206.1 Drill bits
220.127.116.11.3 Burr blanks
18.104.22.168 Industrial engineering
22.214.171.124.1 Chemicals and fertilizers
126.96.36.199.2 Fluid power manufacturing
188.8.131.52.3 Power generation and transmission
184.108.40.206 Oil and gas
220.127.116.11 Aerospace and defense
4.2 Value Chain Analysis
4.3 Market Dynamics
18.104.22.168 Recycling of granular and powdered tungsten carbide scrap to produce reusable tungsten carbide
22.214.171.124 Adoption of tungsten carbide owing to its superior properties
126.96.36.199 Growth in the metalworking industry and significant demand for industrial machinery
188.8.131.52 Recovery in the oil and gas industry and growth in the E&P sector
184.108.40.206 Impact analysis of drivers on market forecast
220.127.116.11 Concentrated production of raw material and introduction of regulations for the recycling of tungsten carbide
18.104.22.168 Impact analysis of restraints on market forecast
22.214.171.124 Product adoption in 3D printing technology
4.4 Regulation Analysis
4.4.1 North America
Chapter 5. Raw Material, Supply Chain, and Pricing Analysis
5.1 Raw Material Pricing Analysis
5.1.1 Tungsten Oxide
5.2 Raw Materials Sourcing - Geographical Hotspots
5.3 Domestic Price Analysis, By Region
5.3.1 North America
Chapter 6. Production Analysis
6.1 Production of Tungsten Carbide Powder, by Major Countries
6.2 Production Capacity, Actual Production, and Plant Location of Tungsten Carbide Powder of Major Manufacturers
Chapter 7. Technology Analysis
7.1 Carburization of Tungsten Powder
7.1.2 Process Description
Chapter 8. Global Market Size and Forecast
8.1 By Grain Size
8.2 By Grade
8.3 By Application
8.4 By End-Use Industry
8.4.1 Mining and Construction, by Type
8.4.2 Industrial Engineering, by Type
8.4.3 Transportation, by Type
8.4.4 Oil and Gas, by Type
8.4.5 Aerospace and Defense, by Type
8.4.6 Other Industries, by Type
8.5 By Region
- Sandvik AB
- GuangDong XiangLu Tungsten Co. Ltd.
- 3 Kennametal Inc.
- Xiamen Tungsten Co. Ltd.
- China Minmetals Corporation
- Nanchang Cemented Carbide Limited Liability Company
- Jiangxi Yaosheng Tungsten Co. Ltd.
- CERATIZIT S.A.
- Japan New Metals Co. Ltd.
- OC Oerlikon
- Corporation AG
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