Press release
What's are Key Factors Driving Growth in Global Tungsten Carbide Powder Market?
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Different grades of tungsten carbide are available in the market to meet the varied needs of different industries. Thus, categories under the grade segment of the tungsten carbide powder market include rotary drilling and mining, submicron, corrosion resistant, metal forming and wear, and general purpose. Amongst these, the rotary drilling and mining category is expected to showcase the fastest growth in the forecast period. This can be owed to the surging demand for rotary drilling and mining grades in the construction, mining, and oil & gas sectors.
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Additionally, Europe, Middle East and Africa (MEA), and Latin America (LATAM) are also expected to hold considerable share in the tungsten carbide market, on account of spurring demand for tungsten carbide-based tools in the oil & gas industry and rising application of the compound in the automobile sector. Furthermore, Germany is expected to lead the European market, due to the high demand for this powder from the automotive sector, as the country is home to leading automakers. Moreover, the Brazilian market will exhibit the fastest growth in LATAM, due to the growing automobile industry.
Market Size Breakdown by Segment
Based on Grain Size
10 μm
Based on Grade
Rotary Drilling and Mining
Metal Forming and Wear
Submicron
Corrosion Resistant
General Purpose
Based on Application
Machine Tools & Components
Cutting Tools
Dies & Punches
Abrasive Products
Contact:
Prajneesh Kumar
P&S Intelligence
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Email: enquiry@psmarketresearch.com
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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