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Tungsten Carbide Powder Market Global Industry Analysis, Growth Opportunities, Detailed Analysis And Forecast To 2026
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The rise in mining and construction activities, expansion of the transportation sector, development of engineering industries are some of the factors propelling the growth of the market and are expected to drive the expansion of the market in the forecasted period. In the mining and construction industry, the powders are employed in tunnel boring machines and roller cutters as they provide resistance from abrasion, wear and tear and improve the strength of materials. The powder is also widely used in the jewelry industry to prevent them from getting scratched or tarnished easily. Demand for energy minerals such as coal has led to a rise in mining activities, thereby leading to an increase in demand for the global tungsten carbide powder market.
On the basis of application, the Global Tungsten Carbide Powder Market can be classified as Machine Tools & Components, Dies & Punches, Cutting Tools, and Abrasive Products. On the basis of Grade, the Global Tungsten Carbide Powder Market can be segmented as Rotary Drilling & Mining Grades, Submicron Grades, Metal Forming & Wear Grades, Corrosion Resistant Grades, General Purpose Grades and Other Grades. On the basis of End-Use, the Global Tungsten Carbide Powder Market can be bifurcated as Mining & Construction, Transportation, Industrial Engineering, Oil & Gas, and Aerospace & Defense.
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North America, Europe, Asia-Pacific, and the Middle East and Africa are few of the key regions where the presence of Global Tungsten Carbide Powder Market can be witnessed. In 2019, Asia-Pacific accounted for the most significant contribution to the Global Tungsten Carbide Powder Market due to the rise in construction, mining and engineering activities in the region.
Kennametal Inc (US), Extrament (Switzerland), Guangdong Xianglu Tungsten Co Ltd (China), Sandvik AB (Sweden), Federal Carbide Company (US), Japan New Metal Co. Ltd (Japan), Nanchang Cemented Carbide Co Ltd (China), China Tungsten Online (Xiamen), Manu & Sales Corp. (China), Jiangxi Yaosheng Tungsten Co. Ltd (China) and Eurotungstene (France) are few of the key market players in the Global Tungsten Carbide Power Market.
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