Tungsten Carbide Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Tungsten Carbide Market” was valued at US$ 21.20 Bn in 2022. Global Tungsten Carbide Market size is estimated to grow at a CAGR of 5.5% over the forecast period.This growth is attributed to various factors such as technological advancements, increasing demand for the product/service, expanding market penetration, and favorable industry trends.
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Tungsten Carbide Market Scope and Methodology
The Tungsten Carbide Market report offers a detailed estimation of market size, analyzing current and future trends. It examines key developments, marketing strategies, supply-demand indicators, and company profiles. Utilizing a bottom-up approach with primary and secondary data sources, it covers local, regional, and global levels for enhanced insights. The report includes historical data, current trends, technological innovations, and assessments of market risks, drivers, opportunities, and challenges. Employing SWOT and PORTER analysis, it provides a comprehensive guide for investors and stakeholders in the Tungsten Carbide market.
Tungsten Carbide Market Regional Insights
The report presents a comprehensive Regional Analysis, covering the current status of the Tungsten Carbide market in different countries. It includes a detailed examination of factors, market size, growth rate, and import-export dynamics within regions. The analysis is conducted at both local and country levels, encompassing North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa as the broad segments for the Tungsten Carbide market.
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Tungsten Carbide Market Segmentation
Based on Application, since cemented carbide is a metallurgical material in powder form that is a composite of tungsten carbide particles and binder rich in metallic cobalt, cemented carbide application is projected to boost the market demand among other application divisions. The items that are used in the production of aluminium cans, glass bottles, plastic tubes, copper wires, and steel wires are popular in a variety of applications. Cemented carbide is also used for wood machining, metal cutting, composite materials, soft ceramics, plastics, chipless shaping in the mining and building industries, structural parts, wear parts, and military parts. Nearly 65% of the tungsten used in the United States was used in the cemented carbide parts for cutting and wear -resistant applications, primarily in construction, metalworking,
Based on End-User industry, the automotive industry is dominating the tungsten carbide market accounting 41 percent growth share of the global tungsten carbide market by the year 2029 due to increased pressure for innovation and flexibility in development and manufacturing new machines. The amount of tungsten carbide contained in the U.S exports was 25% more in the year 2022 than the previous year. aerospace industry is anticipated to be the second dominating sector for the growth of the Tungsten carbide market, owing to the large scale demands for the commercial planes.
Tungsten Carbide Market Key Players
1. Sandvik AB
2. GuangDong XiangLu Tungsten Co. Ltd
3. Kennametal Inc
4. Umicore
5. Xiamen Tungsten Co. Ltd
6. China Minmetals Corporation
7. Nanchang Cemented Carbide Limited Liability Company
8. Jiangxi Yaosheng Tungsten Co. Ltd
9. CERATIZIT S.A
10. Sumitomo Corporation
11. Hitachi Metals
12. Mitsubishi Materials Corporation
13. Japan New Metals Co. Ltd
14. OC Oerlikon Corporation AG
15. Chongyi Zhangyuan Tungsten Co. Ltd
16. Extramet products,LLC.
17. American Elements
18. Federal Carbide Company
19. Manu. & Sales Corp.
20. Eurotungstene
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Table Of Content:
1. Global Tungsten Carbide Size: Research Methodology
2. Global Tungsten Carbide Size: Executive Summary
2.1. Market Overview and Definitions
2.1.1. Introduction to Global Tungsten Carbide Size
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Tungsten Carbide Size: Competitive Analysis
3.1. MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2. Consolidation in the Market
3.2.1 M&A by region
3.3. Key Developments by Companies
3.4. Market Drivers
3.5. Market Restraints
3.6. Market Opportunities
3.7. Market Challenges
3.8. Market Dynamics
3.9. PORTERS Five Forces Analysis
3.10. PESTLE
3.11. Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
3.12. COVID-19 Impact
4. Global Tungsten Carbide Size Segmentation
4.1. Global Tungsten Carbide Size, by Application (2022-2029)
• Cemented Carbide
• Mill Products
• Metal alloys
4.2. Global Tungsten Carbide Size, by End-User (2022-2029)
• Automotive
• Aerospace
• Oil & Gas
• Mining & Construction
• Electronics
• Others
Key questions answered in the Tungsten Carbide Market are:
- What is Tungsten Carbide?
- What was the Tungsten Carbide market size in 2022?
- What are the different segments of the Tungsten Carbide Market?
- What growth strategies are the players considering to increase their presence in Tungsten Carbide?
- What are the upcoming industry applications and trends for the Tungsten Carbide Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Tungsten Carbide Market?
- Who are the key players in the Tungsten Carbide market?
- What major challenges could the Tungsten Carbide Market face in the future?
- What segments are covered in the Tungsten Carbide Market?
- Who are the leading companies and what are their portfolios in Tungsten Carbide Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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