Tungsten Carbide Powder Market to Exhibit 5.4% CAGR till 2026, Informs M&M in Its Research Study Recently Published at MarketPublishers.com09 Mar 2017 • by Natalie Aster
LONDON – Propelled mainly by the growing demand for tungsten carbide powder from such end-use industries as mining, construction, industrial engineering and transportation, the global tungsten carbide powder market is expected to show positive growth at a 5.4% CAGR during 2016-2026. Still, the oversupply of tungsten carbide powder provoked by China is one of the key factors restraining growth of the global market for tungsten carbide powder.
The value of the overall tungsten carbide powder market is set to increase from USD 14.78 billion in the past year to around USD 24.9 billion in the year 2026.
As of 2016, the rotary drilling and mining grade segment captured the largest share of the total market based on grade. Application-wise, the largest share belonged to the machine tools and components segment. Based on end-use industries, the mining and construction industry took lead in the global tungsten carbide powder market in the past year.
Regionally, APAC dominated the global marketplace in 2016 given the mushrooming demand for the product in the APAC countries. India, China and Japan are the key consumers in the region.
Today, the global marketplace is dominated by such companies as Ceratizit S.A., Federal Carbide Company, Eurotungstene, Federal Carbide Company, Sandvik AB, to name only a few.
In-demand research report “Tungsten Carbide Powder Market by Grade, Application, End-Use Industry, and Region - Global Forecast to 2026” elaborated by MarketsandMarkets (M&M) comprises a comprehensive review of the tungsten carbide powder market performance on a world scale as well as on a regional scale (APAC, Europe, North and South America and the Middle East and Africa). It also provides an all-encompassing review of the key current and emerging trends, growth drivers, hinders, opportunities, challenges and the hottest issues. The publication comprises an all-round market analysis on the basis of grades, applications, end-use industries and regions. Dominant market players and the competitive environment are covered in the report. The market growth opportunities and prospects are identified in the report along with a future outlook through 2026.
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