Market
Overview:
The global
tungsten carbide powder market 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.
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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.
Competitive
Analysis
- Sandvik AB
- Kennametal
- CERATIZIT S.A.
- Federal Carbide
Company
- GuangDong XiangLu
Tungsten Co.,Ltd
- Nanchang Cemented
Carbide Co., Ltd.
- JAPAN NEW METALS
CO., LTD.
- Umicore
- ChinaTungsten
- C. Starck GmbH
- Reade International
Corp.
- Merck KGaA
Regional
Analysis
The global
tungsten carbide powder market is segmented into five regions namely Asia
Pacific, North America, Europe, Latin America, and the Middle East &
Africa.
Asia Pacific
dominated the global tungsten carbide powder market 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 global tungsten carbide powder
market 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.
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