Market Overview:
Tungsten carbide powder is a chemical compound
that comprises atoms of tungsten and carbide and is produced by reacting
tungsten powder with high purity carbon at temperatures between 1300–1600C in
hydrogen atmosphere. It is the most conventional process to produce tungsten
carbide powder and known as carburization. Owing to its unique properties such
as hardness, high modulus of elasticity, and strong electrical and thermal
conductivity, tungsten carbide powder has found applications in several end-use
industries such as building & construction, oil & gas, automotive,
mining, and aerospace & defense.
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The market for tungsten carbide powder is driven
by the increase in demand for hard-wearing machinery tools for cutting, drilling,
and mining purposes. Furthermore, the growing building & construction and
automotive industries are is expected to have a significant impact on
increasing demand for tungsten carbide powder materials, thereby propelling the
growth of global tungsten carbide powder market. The rapid industrialization in
Asia-Pacific is also expected to boost the growth of the market during the
forecast period.
Industry
Segmentation:
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.
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
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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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