tungsten carbide market | Growing Popularity and Emerging Trends in the Industry By 2028


Asia Pacific holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period.

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Overview

The tungsten carbide market is projected to grow at a high CAGR during the forecast period. As per the tungsten carbide market research report, the global market for tungsten carbide is projected to grow swiftly. According to analysts, application in many end user industries as well as advantages coupled with its cost effectiveness will drive the market growth during the forecast period. The tungsten carbide market research report offers a comprehensive analysis of the global tungsten carbide market and its end user industry and grade type segments. The high cost along with fluctuating raw material prices are the elements that could influence the tungsten carbide market advancement throughout the forecast period. The tungsten carbide market research report by expert analysts is developed to assist organizations in the tungsten carbide market.

Market Segmentation

The global Tungsten Carbide Market has been segmented based on end user industry and grade type. On the basis of grade type, the market for tungsten carbide is segmented based on metal forming and wear grades, general purpose grade, others. Additionally, the market on the basis of end user industry, is segmented into defense, mining and construction, oil and gas, automobiles, and others.

Major elements such as stringents rules could obstruct the tungsten carbide market growth. However, according to the tungsten carbide market research report, growing consumption in the applications along with demand from mining, construction, and automobile sectors will propel growth throughout the forecast period. The tungsten carbide market is set to register growth at a high CAGR owing to these key factors. The exploration of end user industry and grade type segments along with regional markets has been given in the global tungsten carbide market research report. The research analysts studying the tungsten carbide market have put out market forecasts in the tungsten carbide market research report in order to support tungsten carbide market-based companies. The tungsten carbide market research report provides an extensive understanding of the tungsten carbide market based on the information and forecasts till 2028.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for tungsten carbide are predominantly covered in the global tungsten carbide market research report. Country-level tungsten carbide markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level tungsten carbide markets are covered in the report. In Asia-Pacific (APAC) region, the country-level tungsten carbide markets covered are Japan, India, China, and others. The tungsten carbide market research report also explores the regional market for tungsten carbide present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The tungsten carbide market research report also covers regional markets from the rest of the world alongside tungsten carbide markets of Africa and the Middle East.

Competitive Landscape

Growing industrialization and urbanization are presumed to drive the tungsten carbide market growth worldwide. The global tungsten carbide tools could be challenged by the weak supply chain in some countries, nevertheless, organizations in the tungsten carbide market will carry the growth rate forward. The tungsten carbide market research report presents company profiles of major companies active in the tungsten carbide market globally. Furthermore, the global tungsten carbide market report offers an all-inclusive analysis of the market collected from the tungsten carbide market’s primary and secondary sources covering both decision makers and thought leaders. The tungsten carbide market research report highlights such key areas assisting businesses operating in the tungsten carbide market to build better growth strategies.

Industry News

Chinese primary tungsten material consumers Xiamen Tungsten and Zhangyuan Tungsten, in response to higher spot prices for the second half of January, have increased their offer prices for tungsten concentrate and ammonium paratungstate (APT). Tungsten Xiamen manufactures and sells tungsten, molybdenum, rare earths and new materials. It runs an integrated supply chain for tungsten, from primary mining and smelting to refining and recycling. In 2019, it produced 23,173 tons of APT, 8,451 tons of tungsten and 4,175 tons of cemented carbide. Xiamen Tungsten also purchases APT to fuel its production of powder.