Press release
Tungsten Carbide Industry to Witness Massive Growth (2024-2031) | Sandvik AB, Kennametal Inc., CERATIZIT S.A., Federal Carbide Company.
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The Tungsten Carbide market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.
Advances in manufacturing technology are expected to broaden the application of tungsten carbide across various sectors during the forecast period. One significant development is the commercialization of 3D printing for tungsten carbide tools. For example, in July 2022, Australia's national science agency CSIRO, in collaboration with Australian tool maker ANCA, developed an innovative 3D printing technology specifically for tungsten carbide cutting tools. This breakthrough is likely to enhance the production and application of tungsten carbide tools, making them more accessible and versatile in different industries.
Forecast Growth Projected:
The Global Tungsten Carbide Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2030. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
List of the Key Players in the Tungsten Carbide Market: Sandvik AB, Kennametal Inc., CERATIZIT S.A., Federal Carbide Company, GuangDong XiangLu Tungsten Co. Ltd., JAPAN NEW METALS CO. LTD, China Tungsten, Chongyi Zhang Yuan Tungsten Co. Ltd, Merck KGaA and H.C. GmbH.
Segment Covered in the Tungsten Carbide Market:
By Grade: Rotary Drilling & Mining Grades, Submicron Grades, Metal Forming & Wear Grades, Corrosion Resistant Grades, General Purpose Grades, and Others.
By Application: Machine Tools & Components, Dies & Punches, Cutting Tools, Abrasive Products, Others.
By End-User: Mining & Construction, Transportation, Industrial Engineering, Oil & Gas, Aerospace & Defense, Others.
Regional Analysis:
The global Tungsten Carbide Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
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Regional Analysis:
The global Tungsten Carbide Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Tungsten Carbide Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
Chapter Outline:
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of Tungsten Carbide manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Revenue of Tungsten Carbide in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.
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FAQs
How big is the Tungsten Carbide Market?
The Tungsten Carbide Market size was USD 20.2 billion in 2023. It is expected to reach USD 34.7 billion by 2031.
How fast is the Tungsten Carbide Market growing?
The Tungsten Carbide Market will exhibit a CAGR of 7.0% during the forecast period, 2023-2031.
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