Press release
Tungsten Carbide Powder Market Poised for Steady Progress Having Major Manufacturers: Jiangxi Naipu Co., LTD, China Minmetals Rare Earth Co., Ltd., Xiamen, Sandvik, Kennametal, CERATIZIT GROUP & Umicore
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It is also being predicted that the domain will progress steadily during the forecast period 2018–2023 with a 3.6% CAGR. Tungsten carbide is a compound with equal proportions of tungsten and carbon atoms. Similarly, on segmenting by grade, the tungsten carbide powder market is categorized into metal forming and wear, rotary drilling and mining, general purpose, corrosion resistant, submicron, and others.
Cutting tools, machine tools and components, abrasive products, dies and punches, and others are the various application areas of the compound. In 2017, the sale of tungsten carbide powder for the manufacture of cutting tools generated more than 50.0% of the total market revenue.
Industrial engineering, mining and construction, oil and gas, aerospace and defense, transportation, and others are the various industries contributing to the tungsten carbide powder market growth. Among these, the transportation sector generated the highest revenue for the market in 2017. Within the industry, the compound is used in vehicle tire studs, dies and die grinders, surface coated breaks, crankshafts, ball joints, and pneumatic rotary tools.
The wear parts, inserts, drill rods, and drill bits used in oil and gas exploration and extraction contain tungsten carbide. Polycrystalline diamond cutter, one of the most important industry tools, has a sintered cylinder of tungsten carbide, while the inserts consist of sintered tungsten carbide teeth.
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Due to their hardness, such inserts are recommended in abrasive and harsh environments. Therefore, as the oil and gas industry recovers further, so the tungsten carbide powder market will grow as well.
Thus, it is clear that the surge in demand for industrial tools and machinery will drive the sales and production of tungsten carbide powder.
GLOBAL TUNGSTEN CARBIDE POWDER MARKET SEGMENTATION
By Grain Size
• 10 μm
By Grade
• Rotary Drilling and Mining
• Metal Forming and Wear
• Submicron
• Corrosion Resistant
• General Purpose
• Others
By Application
• Machine Tools & Components
• Cutting Tools
• Dies & Punches
• Abrasive Products
• Others
By End-Use Industry
• Mining & Construction
o Inserts
o Drill bits
o Burr blanks
• Industrial Engineering
o Chemicals & fertilizers
o Fluid power manufacturing
o Power generation & transmission
• Transportation
o Railways
o Automotive
• Oil & Gas
o Exploration
o Drilling
• Aerospace & Defense
o Aircraft
o Ammunition
• Others
o Jewelry
o Medical
o Sports
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