Global Tungsten Carbide Market – 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.
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Global Tungsten Carbide Market – Prominent Players
The prominent players of this market are Sandvik AB (Sweden), Kennametal Inc. (U.S.), Ceratizit S.A. (Luxembourg), Extramet AG (Switzerland), Federal Carbide Company (U.S.), Guangdong Xianglu Tungsten Co., Ltd. (China), Nanchang Cemented Carbide Co., Ltd. (China), Jiangxi Yaosheng Tungsten Co., Ltd. (China), Japan New Metal Co., Ltd. (Japan), China Tungsten (Xiamen) and Eurotungstene (France), among others.
Various factors are propelling the global tungsten carbide market growth. As per the latest MRFR report, such factors include growing consumption of tungsten carbide in abrasive products, dies and punches, machine and cutting tool components, and others, increasing urbanization and industrialization in developing regions, and increasing use in the automobile & mining and construction sector owing to its alluring features such as excellent corrosion and abrasion resistance, high tensile strength, and durability.
On the contrary, the high cost of tungsten carbide and suspension of construction activities due to the on-going COVID-19 outbreak may impede the tungsten carbide market growth over the forecast period.
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Tungsten Carbide Market – Segments:
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 2030.
Tungsten Carbide Market – Regional Analysis:
Based on the region, the global tungsten carbide market report covers the recent trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), Latin America, & the Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. Urbanization, the rapid growth of industries, favorable government regulation, and the presence of most populated countries like China & India which has boosted the activities related to oil and gas to cater to the burgeoning energy needs are adding to the global tungsten carbide market growth in the region. Japan, India, and China have the maximum share in the region.
The global tungsten carbide market in North America is predicted to have healthy growth over the forecast period. The presence of developed end user industries like the electronics, transportation, and construction coupled with the newly elected government that has created a wave of investment in the renovation and development of commercial and residential infrastructure is adding to the global tungsten carbide market growth in the region.
The global tungsten carbide market in Europe is predicted to have lucrative growth over the forecast period. Growing research & development activities in the automotive sector, increasing infrastructural development, booming oil and gas activities, and developed automobile, construction, and electrical & electronics sector are adding to the global tungsten carbide market growth in the region.
The global tungsten carbide market in Latin America & the MEA is predicted to have sound growth over the forecast period.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Tungsten Carbide Market
5 Industry Overview Of Global Tungsten Carbide Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
7. Global Tungsten Carbide Market By Grade Type
7.2 General Purpose Grade
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast By Region, 2020-2027
7.3 Metal Foaming And Wear Grades
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast By Region, 2020-2027
7.4 Submicron Grades
7.4.1 Market Estimates & Forecast, 2020-2027
7.4.2 Market Estimates & Forecast By Region, 2020-2027
7.5 Rotary Drilling And Mining Grades
7.5.1 Market Estimates & Forecast, 2020-2027
7.5.2 Market Estimates & Forecast By Region, 2020-2027
7.6 Corrosion Resistant Grades
7.6.1 Market Estimates & Forecast, 2020-2027
7.6.2 Market Estimates & Forecast By Region, 2020-2027
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