Tungsten Carbide Powder Market 2018, Global Segments, Industry Growth, Top Key Players, Size and Recent Trends by Forecast to 2023

“Tungsten Carbide Powder Market”
Tungsten Carbide Powder Market Information: By Grade (Rotary Drilling & Mining, Metal Forming & Wear), Application (Cutting Tools, Wear Parts), End-Use Industries (Mining & Construction, Military & Defense, Industrial Engineering) – Forecast Till 2023

Market Overview

Tungsten carbide powder is produced by carburization in a hydrogen atmosphere with tungsten powder and carbon mixture. It offers high thermal conductivity, intense strength, and extreme stiffness, which make it an excellent material of choice for all types of metal forming and cutting tools.

The global tungsten carbide powder market is primarily driven by the increasing demand for industrial machinery in the industrial sector across the globe from various end-use industries such as automotive, aerospace, chemical, and consumer electronics. According to a report about Strategic Technologies for the Army of Twenty-First Century (STAR 21), tungsten carbide can be an alternative to depleted uranium as both of them work against light armor, which may increase the product demand in military & defense sector. Furthermore, the increasing adoption of tungsten carbide for manufacturing 3D printer’s nozzles required in extrusion process can be a potential opportunity for the market growth over the assessment period. According to the International Tungsten Industry Association (ITIA), tungsten shot and ammunition are less hazardous alternatives to poisonous lead for hunting and in military training. According to Stockholm International Peace Research Institute (SIPRI), the total U.S. military expenditure was USD 611 billion in 2016 with a share of around 36% of total world military expenditure, which was followed by China. The increase in military & defense expenditure is likely to propel the market growth over the assessment period. Some of the key development trends noticed in the market include merger, acquisition, and expansion among others. For instance, in November 2014, CERATIZIT Italia, a subsidiary of CERATIZIT announced to acquire the Italian drawing tool manufacturer VAN-Dies by the end of the year. This acquisition led to CERATIZIT becoming a full range provider of tungsten carbide tools in the Italian market and strengthened business in Europe. Furthermore, in December 2016, Umicore announced a share purchase agreement to acquire Eurotunsgtene, a specialized in developing, manufacturing, and marketing metal powders used in diamond tools and hard metal applications. However, the product has been identified toxic by the New Jersey Department of Health and Senior Services. Also, the exposure limits of 5 mg/m3 over an average of 8 hours and 10 hours has been set by National Institute for Occupational Safety and Health (NIOSH) and American Conference of Governmental Industrial Hygienists (ACGIH) respectively. Both the regulatory bodies have set the limit of 10 mg/m3 as a Short Term Exposure Limit (STEL). The limitations on use of the product may challenge the market growth during the forecast period.

Receive Sample Copy@ https://www.marketresearchfuture.com/sample_request/5983

Segmentation

The global tungsten carbide powder market is segmented on the basis of the grade, application, end-use industry, and region.

On the basis of the grades, the global tungsten carbide powder market is segmented into rotary drilling & mining, metal forming & wear, submicron, corrosion resistant, general purposes, and others.

On the basis of the application, the market is segmented into cutting tools, wear parts, roll & die, diamond tools, mining tools, and abrasive products.

By the end-use industry, the market is segmented into mining & construction, military & defense, industrial engineering, transportation, oil & gas, aerospace, and others.

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.

5 Market Dynamics Of Global Tungsten Carbide Powder Market

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Trends/Technology

6. Global Tungsten Carbide Powder Market By Grade

6.1 Introduction

6.2 Rotary Drilling & Mining

6.2.1 Market Estimates & Forecast, 2018-2023

6.2.2 Market Estimates & Forecast By Region, 2018-2023

6.3 Metal Forming & Wear

6.3.1 Market Estimates & Forecast, 2018-2023

6.3.2 Market Estimates & Forecast By Region, 2018-2023

6.4 Submicron

6.4.1 Market Estimates & Forecast, 2018-2023

6.4.2 Market Estimates & Forecast By Region, 2018-2023

6.5 Corrosion Resistant

6.5.1 Market Estimates & Forecast, 2018-2023

6.5.2 Market Estimates & Forecast By Region, 2018-2023

6.6 General Purposes

6.6.1 Market Estimates & Forecast, 2018-2023

6.6.2 Market Estimates & Forecast By Region, 2018-2023

6.7 Others

6.7.1 Market Estimates & Forecast, 2018-2023

6.7.2 Market Estimates & Forecast By Region, 2018-2023

Access Report @ https://www.marketresearchfuture.com/reports/tungsten-carbide-powder-market-5983

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.

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
  • H.C. Starck GmbH
  • Reade International Corp.
  • Merck KGaA

Ask Question to Our Expertise@ https://www.marketresearchfuture.com/enquiry/5983

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

 

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 

Contact:

Market Research Future

Office No. 524/528, Amanora Chambers

Magarpatta Road, Hadapsar

Pune – 411028

Maharashtra, India

+1 646 845 9312

Email: sales@marketresearchfuture.com

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/big-data-as-a-service-market-1209