Global tungsten carbide market is
projected to exhibit a CAGR of over 5% during the forecast period, on the back
of growing research & development aimed towards technological developments
and its superior properties such as hardness, toughness, and resistance to
abrasion and impact. Tungsten carbide is one of the metal carbides 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, tungsten carbide can
decompose at higher temperatures and revert into its initial form, as tungsten
and a carbide.
Tungsten
carbide market has been segmented into end-user, application and region. Based
on end-user, the market has been categorized into automotive, aerospace &
defense, mining & construction, oil & gas, electronic and other
industries. Of these, the automotive industry accounted
for the largest market share in 2018, backed by extensive use of tungsten
carbide in the automotive industry, wherein it is processed into high-performance
mechanical parts. Based on application, the market has been bifurcated into metal
cutting, cemented carbide, industrial alloys, mill products, jewelry, surgical
tools and others (tipping trekking and ski poles). Of these sub-segments, metal
cutting application led the tungsten carbide market in 2018, capturing nearly
half of the market, as carbide tools maintain a sharp cutting edge which surpasses
other steel tools to produce a better finish on parts.
Regionally, the market has been segmented into North
America, South America, Europe, Asia-Pacific and the Middle East & Africa. China is expected to lead the
Asia-Pacific tungsten carbide market during the forecast period, as the country
has tungsten ores, substantial mining and production facilities and in-house
abilities to manufacture cemented carbides.
Some of the key players operating
in the market are Sandvik AB, IMC Group, Kennametal, Mitsubishi Materials
Corporation, Sumitomo Corporation, Hitachi Metals, Ltd., Ceratizit S.A, China
Minmetals Corporation, Xiamen Tungsten Co., Ltd and American Elements.
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 global tungsten carbide market size.
- To forecast global tungsten
carbide market based on application, end-user and regional distribution.
- To
identify drivers and challenges for global tungsten carbide market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., in global tungsten carbide market.
- To conduct
the pricing analysis for tungsten carbide market.
- To
identify and analyze the profile of leading players involved in the
manufacturing of tungsten carbide.
Click here to download the brochure
Some
of the leading players in global tungsten carbide market are Sandvik AB, IMC
Group, Kennametal, Mitsubishi Materials Corporation, Sumitomo Corporation,
Hitachi Metals, Ltd., Ceratizit S.A, China Minmetals Corporation, Xiamen
Tungsten Co.,Ltd and American Elements.
TechSci
Research performed both primary as well as exhaustive secondary research for
this study. Initially, TechSci Research sourced a list of leading manufacturers
across the globe. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the manufacturers which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the product offerings,
distribution channels and presence of all major players operating in global tungsten carbide market.
TechSci Research
calculated 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.
TechSci Research 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 by TechSci Research.
Key Target Audience:
- Tungsten carbide manufacturers and suppliers
- Government and other regulatory bodies
- Research institutes and organizations
- Associations, forums and organizations
associated with tungsten carbide industry
The study is useful
in providing answers to several critical questions that are important for
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, 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
- Aerospace & Defense
- Mining & Construction
- Oil & Gas
- Electronic
- Others
- Market, by Application:
- Metal Cutting
- Cemented Carbide
- Industrial alloys
- Mill Products
- Jewelry
- Surgical Tools
- Others (Tipping Trekking, Ski Poles)
- Market, by Region:
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- United Kingdom
- Italy
- France
- Germany
- Russia
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Iran
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in global tungsten carbide market.
Available Customizations:
With the given market
data, TechSci Research offers customizations according to a company’s specific
needs. The following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional market players
(up to five).
Profit
Margin Analysis
- Profit margin analysis in case of direct and indirect
sales channel.
In case you don’t find what you are looking for,
please get in touch with our custom research team at sales@techsciresearch.com
It is an upcoming report to be released soon. If
you wish an early delivery of this report or want to confirm the date of
release, please contact us at sales@techsciresearch.com