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
Some
of the manufacturers operating in the global Tungsten Carbide Powder Market 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).
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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