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The global tungsten carbide market is projected to grow at a CAGR of over 4.8% during the forecast period. The market is mainly driven by increasing research & development activities to augment the growth in technology and superior properties compared to other materials. Speak directly to the analyst to clarify any post sales queries you may have.
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Notably, tungsten carbide is one of the metal carbides, which is produced by the reaction of tungsten hexachloride with methanol or methane. On account of tungsten carbide’s high resistivity to abrasion, it is extensively used in the manufacturing industries for cutting tools. However, it can decompose at higher temperatures and revert into its initial form, as tungsten and a carbide.
Markedly, the market for tungsten carbide has been segmented into end-user, application and region. Based on end-user, the market has been segmented into automotive industry, aerospace and defense industry, mining and construction industry, oil & gas industry, electronic industry and others. Among these subsegments, the automotive industry accounted for the highest market share accounting for nearly 34.2% in 2018. The industry led the end-user industry owing to its extensive use. While, based on application (cemented carbide, industrial alloys, mill products, jewellery, surgical tools, others (tipping trekking, ski poles). Among the application sub-segments, cemented carbide application led the tungsten carbide market in 2018 holding a market share of 61% owing to the growing demand for metal cutting tools in machinery. Use of tungsten carbide in jewellery application is expected to register the fastest growth owing to the property of resistance to scratching and hardness of material.
Regionally, the market has been segmented into North America, South America, Europe, Asia Pacific and Middle East & Africa. Among these regions, China is expected to lead the Asia Pacific tungsten carbide market during the forecast period.
Some of the key players operating in the market include, Sandvik AB, Kennametal, Umicore, Ceratizit S.A, Sumitomo Corporation, Hitachi Metals, Ltd., Mitsubishi Materials Corporation, China Minmetals Corporation, Xiamen Tungsten Co.,Ltd, American Elements, among others.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast the global Tungsten Carbide market size.
- To forecast the global Tungsten Carbide market based on application, end-user and regional distribution.
- To identify drivers and challenges for the global Tungsten Carbide market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global Tungsten Carbide market.
- To conduct the pricing analysis for the Tungsten Carbide market.
- To identify and analyze the profile of leading players involved in the manufacturing of the Tungsten Carbide.
Some of the leading players in the global Tungsten Carbide market are Sandvik AB, Kennametal, Umicore, Ceratizit S.A, Sumitomo Corporation, Hitachi Metals, Ltd., Mitsubishi Materials Corporation, China Minmetals Corporation, Xiamen Tungsten Co., Ltd, American Elements, among others.
The author performed both primary as well as exhaustive secondary research for this study. Initially, they sourced a list of leading manufacturers across the globe. Subsequently, they conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include the manufacturers which could not be identified due to the limitations of secondary research. They analyzed the product offerings, distribution channels and presence of all major players operating in the global Tungsten Carbide market.
The authors calculated the global Tungsten Carbide market size by using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. they sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Tungsten Carbide manufacturers and suppliers
- Government and other regulatory bodies
- Research institutes and organizations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, the global Tungsten Carbide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By End-User:
- Automotive Industry
- Mining and Construction Industry
- Electronic Industry
- Aerospace and Defense Industry
- Oil & Gas Industry
- Others
Market, By Application:
- Cemented Carbide
- Industrial alloys
- Mill products
- Jewelry
- Surgical tools
- Others (Tipping Trekking, Ski Poles)
Market, By Region:
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Taiwan
- Europe
- Germany
- Russia
- United Kingdom
- France
- Italy
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- Iran
- South Africa
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global Tungsten Carbide market.
Available Customizations
With the given market data, the author offers customizations according to a company’s specific needs. Please contact us for more enquires
Please note: With the Enterprise license, the PDF product is printable and editable and comes with a market data excel sheet.
Table of Contents
1. Product Overview2. Research Methodology3. Executive Summary5. Global Tungsten Carbide Industry Overview13. Market Trends & Developments14. Pricing Analysis16. Strategic Recommendations(Note: The companies list can be customized based on the client requirements)
4. Voice of Customer
6. Global Tungsten Carbide Market Outlook
7. Asia-Pacific Tungsten Carbide Market Outlook
8. Europe Tungsten Carbide Market Outlook
9. North America Tungsten Carbide Market Outlook
10. South America Tungsten Carbide Market Outlook
11. Middle East & Africa Tungsten Carbide Market Outlook
12. Market Dynamics
15. Competitive Landscape
List of Figures
Companies Mentioned
A selection of companies mentioned in this report includes:
- Sandvik AB
- Kennametal
- Umicore
- Ceratizit SA
- Sumitomo Corporation
- Hitachi Metals, Ltd.
- Mitsubishi Materials Corporation
- China Minmetals Corporation
- Xiamen Tungsten Co., Ltd
- American Elements