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Global Tungsten Carbide Powder Market 2018-2023 - Increasing Demand of Tungsten Carbide-Based Machine Tools, Cutting Tools, & Abrasive Products

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Feb 07, 2019, 05:30 ET

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DUBLIN, Feb. 7, 2019 /PRNewswire/ --

The "Tungsten Carbide Powder Market by Grain Size, by Grade, by Application, by End-Use Industry, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Tungsten carbide powder market is projected to reach $2,176.8 million by 2023, the market growth is driven by the increasing demand of tungsten carbide-based machine tools, cutting tools, abrasive products in automotive, construction, mining, transportation, and oil and gas industries.

Based on grain size, the tungsten carbide powder market is categorized into 10 m. Globally, the powder with grain size 1-10 m constituted the largest share in the market, accounting for more than 55.0% share in terms of volume in 2017. The market for this category is driven by the fact that the powder of this size is ideal for making variety of cutting tools, machine tools, and abrasive products.

On the basis of grade, the tungsten carbide powder market is classified into rotary drilling and mining, metal forming and wear, submicron, corrosion resistant, general purpose, and others (C15, C15A, C16, C17, C18, and C19). Globally, rotary drilling and mining grades accounted for the largest share in the market, accounting for more than 35.0% share in terms of value in 2017, driven by their large-scale demand in oil and gas, construction, and mining projects.

Based on application, the tungsten carbide powder market is categorized into machine tools and components, cutting tools, dies and punches, abrasive products, and others. Among these, cutting tools category was the largest application area in the market, in 2017, in terms of both value and volume, owing to the fact that tungsten carbide is widely used in manufacturing of cutting tools used in automotive and construction industries for metal cutting and stone working purpose.

On the basis of end-use industry, the tungsten carbide powder market is categorized into mining and construction (drill bits, inserts, and burr blanks), industrial engineering (chemical and fertilizers, fluid power manufacturing, and power generation and transmission), transportation (railways and automotive), oil and gas (exploration and drilling), aerospace and defense (aircraft and ammunition), and others (jewelry, medical, and sports). Globally, mining and construction is one of the major end-use industries in the market. The high demand for drilling tools, cutting tools, and machine component primarily manufactured using tungsten carbide powder is the major factor behind its significant share.

APAC accounted for the largest revenue share in terms of value in the global tungsten carbide powder market, accounting for more than 55.0% share in 2017. The high demand for the product is driven by growing consumption of the powder in manufacturing different tools and components to support the industrial sector of countries such as China, Japan, South Korea, and India.

Major opportunity identified in the tungsten carbide powder market is the product adoption in 3D printing technology. Recent innovations and the commercial adoption of 3D printing technology have allowed for the processing of tungsten carbide. This offers new growth opportunities for the market. In February 2018, Dyze Design, a 3D printing accessory developer, launched a set of tungsten carbide nozzles for integration in numerous fused deposition modeling (FDM) machines. The successful integration of tungsten carbide in supply chain is offering lucrative opportunities to the market players for growth.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Grain Size
4.1.1.1 4.1.1.2 1-10 m
4.1.1.3 >10 m
4.1.2 By Grade
4.1.2.1 Rotary drilling and mining grades
4.1.2.2 Metal forming and wear grades
4.1.2.3 Submicron grades
4.1.2.4 Corrosion resistant grades
4.1.2.5 General purpose grades
4.1.2.6 Other grades
4.1.3 By Application
4.1.3.1 Machine tools and components
4.1.3.2 Cutting tools
4.1.3.3 Dies and punches
4.1.3.4 Abrasive products
4.1.3.5 Others
4.1.4 By End-Use Industry
4.1.4.1 Mining and construction
4.1.4.1.1 Drill bits
4.1.4.1.2 Inserts
4.1.4.1.3 Burr blanks
4.1.4.2 Industrial engineering
4.1.4.2.1 Chemicals and fertilizers
4.1.4.2.2 Fluid power manufacturing
4.1.4.2.3 Power generation and transmission
4.1.4.3 Transportation
4.1.4.3.1 Railways
4.1.4.3.2 Automotive
4.1.4.4 Oil and gas
4.1.4.4.1 Exploration
4.1.4.4.2 Drilling
4.1.4.5 Aerospace and defense
4.1.4.5.1 Aircraft
4.1.4.5.2 Ammunition
4.1.4.6 Others
4.1.4.6.1 Jewelry
4.1.4.6.2 Medical
4.1.4.6.3 Sports
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Recycling of granular and powdered tungsten carbide scrap to produce reusable tungsten carbide
4.3.2 Drivers
4.3.2.1 Adoption of tungsten carbide owing to its superior properties
4.3.2.2 Growth in the metalworking industry and significant demand for industrial machinery
4.3.2.3 Recovery in the oil and gas industry and growth in the E&P sector
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Concentrated production of raw material and introduction of regulations for the recycling of tungsten carbide
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Product adoption in 3D printing technology
4.4 Regulation Analysis
4.4.1 North America
4.4.1.1 U.S.
4.4.2 Europe
4.4.3 Asia-Pacific
4.4.3.1 China

Chapter 5. Raw Material, Supply Chain, and Pricing Analysis
5.1 Raw Material Pricing Analysis
5.1.1 Tungsten Oxide
5.1.2 Graphite
5.2 Raw Materials Sourcing - Geographical Hotspots
5.3 Domestic Price Analysis, By Region
5.3.1 North America
5.3.2 Europe
5.3.3 APAC
5.3.4 RoW

Chapter 6. Production Analysis
6.1 Production of Tungsten Carbide Powder, by Major Countries
6.2 Production Capacity, Actual Production, and Plant Location of Tungsten Carbide Powder of Major Manufacturers

Chapter 7. Technology Analysis
7.1 Carburization of Tungsten Powder
7.1.1 Introduction
7.1.2 Process Description

Chapter 8. Global Market Size and Forecast
8.1 By Grain Size
8.2 By Grade
8.3 By Application
8.4 By End-Use Industry
8.4.1 Mining and Construction, by Type
8.4.2 Industrial Engineering, by Type
8.4.3 Transportation, by Type
8.4.4 Oil and Gas, by Type
8.4.5 Aerospace and Defense, by Type
8.4.6 Other Industries, by Type
8.5 By Region

Company Profiles

  • Sandvik AB
  • GuangDong XiangLu Tungsten Co. Ltd.
  • 3 Kennametal Inc.
  • Umicore
  • Xiamen Tungsten Co. Ltd.
  • China Minmetals Corporation
  • Nanchang Cemented Carbide Limited Liability Company
  • Jiangxi Yaosheng Tungsten Co. Ltd.
  • CERATIZIT S.A.
  • Japan New Metals Co. Ltd.
  • OC Oerlikon
  • Corporation AG

For more information about this report visit https://www.researchandmarkets.com/research/cnvl2x/global_tungsten?w=5

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]   

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SOURCE Research and Markets

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