The report studies the factors influencing the growth of the industry in the global Tungsten Carbide market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The growth of the market is attributed to the increasing usage of tungsten carbide across various mining operations like drilling, boring and cutting.
Additionally, with the growing emergence for metals, the requirement to raise their reserve base throughout multiple economies has made the major competitors to increase the expenditure regarding mining related and metal activities.
After the economy went sluggish for a considerable period of time, the construction industry is again in the rise. Tungsten carbide is being used rapidly across the construction industry. This is because carbide tools have the potential to withstand extremes of temperatures as compared to the conventional steel tools. It is also used to cut tough materials like stainless and carbon steel.
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In February 2020, Switzerland based medical device manufacturer, Clariant Plastics & Coatings Healthcare Polymer Solutions developed a product named Mevopur. The technology utilizes tungsten carbide as a metallic filler in order for it to resist degradation which occurs when exposed to extreme humidity and temperature.
Key participants include Sandvik AB, Ceratizit S.A., Nanchang Cemented Carbide Co., Ltd., China Tungsten Online, Kennametal Inc., Eurotungstene and Jiangxi Yaosheng Tungsten Co., Ltd. among others.
Cemented carbide is forecasted to bring lucrative business to the market and is likely to capture a market valuation of 48.8% by 2027. Tungsten carbide possesses properties such as low wear resistance, low abrasion resistance, high pressure resistance, and durability. Large numbers of manufacturers prefer tungsten carbide due to the unique combination of these characteristics and their cost effectiveness..
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Tungsten Carbide market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Tungsten Carbide market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
Competitive Terrain:
The Global Tungsten Carbide Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length
For the purpose of this report, Emergen Research has segmented into the global Tungsten Carbide Market on the application, end user and region:
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Cemented Carbide
- Coatings
- Alloys
- Others
- End User Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace and Defense
- Automotive
- Mining and Construction
- Electronics
- Others
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Overview of the Tungsten Carbide Market Report:
Introduction, Product Scope, Market Overview, and Opportunities
Analysis of the Manufacturers with sales, revenue, and price analysis
Comprehensive analysis of the competitive landscape
Extensive profiling of the key competitors along with their business strategies and market size
Regional analysis of the market along with sales, revenue, market share, and global position
Country-wise analysis of the market along with types, applications, and manufacturing
Strategic recommendations to established players as well as new entrants
In-depth analysis of the risks, restraints, and limitations in the Tungsten Carbide industry
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report objectives are:
To evaluate Tungsten Carbide status, future forecast, growth opportunity, key market, and key players.
To present the Global Tungsten Carbide development in the different regions of the world.
To strategically study and segment the key players and comprehensively analyze their development plan and strategies.
To define, describe, and forecast the market by product type, market, and key regions.
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