Tungsten Carbide Powder Market Outlook and Growth to 2025

Market Overview:
Tungsten carbide powder is the amalgam of tungsten powder and carbon mixture in a hydrogen atmosphere. It offers high thermal conductivity, intense strength, and extreme stiffness that makes it an excellent material of choice for all types of metal forming and cutting tools. The size of the global tungsten carbide powder market was close to USD 16.55 billion by revenue, at the end of 2020 and is estimated to rise at a CAGR of 5.52% to reach around USD 21.65 billion by the end of the forecast period.

Market drivers and restraints:
The global tungsten carbide powder market is majorly driven by the rising demand for industrial machinery from different end-use industries such as automotive, aerospace, chemical, and consumer electronics. Tungsten carbide can be used an alternative to depleted uranium according to Strategic Technologies for the Army of Twenty-First Century (STAR 21), as both of those elements work against light armor, augmenting the demand in military & defense sector.

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Report segmented as:
By grade:
• rotary drilling & mining
• metal forming & wear
• submicron
• corrosion resistant
• general purposes
• others

By application:
• cutting tools
• wear parts
• roll & die
• diamond tools
• mining tools
• abrasive products

By end user:
• mining & construction
• military & defense
• industrial engineering
• transportation
• oil & gas
• aerospace
• others

Geographical analysis:
The global tungsten carbide powder market is segmented into five regions, namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific was leading the global market in 2018 due to the high demand from major end-use industries such as construction, transportation, and aerospace in countries like Japan, India, China, and others.

Important market players:
Some of the key players operating in the global tungsten carbide powder market are Sandvik AB (Sweden), Kennametal (U.S.), CERATIZIT S.A. (Luxembourg), Federal Carbide Company (U.S.), GuangDong XiangLu Tungsten Co., Ltd (China), Nanchang Cemented Carbide Co., Ltd. (China), JAPAN NEW METALS CO., LTD. (Japan), Umicore (Belgium), ChinaTungsten (China), H.C. Starck GmbH (U.S.), Reade International Corp., (U.S), and Merck KGaA (Germany).

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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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