Jan 19, 2019   SOURCE: BusinessWire

Global Tungsten Carbide Market: Focus on Application and End-Use Industry (2018-2028) - Increased Use of Tungsten Carbide in Emerging Applications - ResearchAndMarkets.com

The "Global Tungsten Carbide Market: Focus on Application (Cutting Tools, Mining & Drilling Tools, Wear Parts, Mill Products, and Others) and End-Use Industry-Analysis and Forecast: 2018-2028" report has been added to ResearchAndMarkets.com's offering.

The global tungsten carbide market is expected to grow at a CAGR of 4.07% from 2018 and 2028 in terms of value. This is due to their unique combination of strength, hardness and toughness that satisfy the most demanding application requirements.

The increase in the number of end-use industries that use tungsten carbide and related products and the ever-increasing application areas have all led to the surging demand of tungsten carbide worldwide.

Growing demand from end-use industry such as automotive and mining industry, among others is propelling the overall market expansion of tungsten carbide. Tungsten carbide is used in the making of tools for their outstanding reliability and effectiveness. The material provides an outstanding combination of ease of use and effectiveness which is why it is preferred across industries.

The global tungsten carbide market in terms of application is segmented into cutting tools, mining & drilling tools, wear parts, mill products, and others. In terms of end-use industry, the market is segmented into automotive, oil & gas, aerospace & defense, electronics, and other industries.

The need for tungsten carbide across these industries arises for production of parts that can withstand high temperature and also bear high impact resistance. The increase in the production of automobiles and an increase in the various applications involving the use of tungsten carbide is a big factor for its large-scale market growth during the forecast period.

Market Dynamics

Drivers

  • Remarkable Properties as Compared to Other Materials
  • High Demand from Varied End-Use Application Verticals
  • Substantial Focus on R&D for Making Ultrafine Grades

Restraints

  • Concerns Regarding Toxicity and Safety
  • Negative Effect on Market Growth due to Economic Slowdown in China

Opportunities

  • Increased Use of Tungsten Carbide in Emerging Applications
  • Opportunities in Emerging Economies
  • New Mining Facilities for Tungsten Supply

Companies Profiled

  • American Elements
  • CERATIZIT S.A.
  • China Minmetals Corporation
  • CY Carbide Mfg. Co. Ltd.
  • Durit HartMetall GmbH
  • Element Six
  • Federal Carbide Company
  • H.C. Stark GmbH
  • Kennametal Inc.
  • Mitsubishi Materials Corporation
  • Rock River Tool Inc.
  • Sandvik AB
  • Sumitomo Electric Industries Ltd.
  • Wolfram Company JSC

Topics Covered

Executive Summary

1 Market Dynamics

2 Competitive Insights

3 Parent Market Outlook

4 Global Tungsten Carbide Market, 2017-2028

5 Global Tungsten Carbide Market (by Application), 2017-2028

6 Global Tungsten Carbide Market (by End-Use Industry), 2017-2028

7 Global Tungsten Carbide Market by Region, 2017-2028

8 Company Profiles

9 Report Scope and Research Methodology

For more information about this report visit https://www.researchandmarkets.com/research/l4b7lq/global_tungsten?w=4