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The global Tungsten Carbide Market will be worth USD 27.70 billion by 2027, according to a current analysis by Emergen Research. After the economy went sluggish for a considerable period of time, the construction industry is again in the rise. Tungsten carbide is being used rapidly across the construction industry. This is because carbide tools have the potential to withstand extremes of temperatures as compared to the conventional steel tools. It is also used to cut tough materials like stainless and carbon steel.
The Tungsten Carbide report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Top competitors of the Tungsten Carbide Market profiled in the report include:
Sandvik AB, Ceratizit S.A., Nanchang Cemented Carbide Co., Ltd., China Tungsten Online, Kennametal Inc., Eurotungstene and Jiangxi Yaosheng Tungsten Co., Ltd. among others.
The research provides answers to the following key questions:
- What will be the growth rate of the Tungsten Carbide market for the forecast period, 2018 to 2028? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Tungsten Carbide market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Tungsten Carbide market for the forecast period, 2018 to 2028?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
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SCOPE OF THE REPORT
The study draws a forecast of the growth of the Tungsten Carbide market by evaluating the market size, share, demand, trends, and gross revenue of the industry. It also focuses on the positions of the major companies against the competitive landscape and their individual share in the global market. The report segments the industry based on product type, application and end-use. It highlights the recent trends and technological developments in the sector that will potentially influence the industry. The research offers a detailed outlook of the trends observed in the market, the contributing factors, major stakeholders, key companies and prime areas that exhibit a potential for growth.
Although North America held the most prominent market share in 2019, yet the market across Asia-Pacific is anticipated to grow at the highest rate throughout the forecasted period. This is primarily because of the growing demand for tungsten carbide powder across the automotive industry. With a production volume of around 30.0 million motor vehicles in 2019 as compared to 28.1 million in 2016, China accounted for the largest production of automobiles globally. Hence, it is most likely that the automobile sector is mainly driving the growth of the market in this region.
For the purpose of this report, Emergen Research has segmented into the global Tungsten Carbide Market on the application, end user and region:
Application Outlook (Revenue, USD Billion; 2017-2027)
- Cemented Carbide
- Coatings
- Alloys
- Others
End User Outlook (Revenue, USD Billion; 2017-2027)
- Aerospace and Defense
- Automotive
- Mining and Construction
- Electronics
- Others
In market segmentation by geographical regions, the report has analysed the following regions-
North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
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