Global Tungsten Carbide Market 2017-2021
About Tungsten Carbide
Tungsten carbide is an inorganic compound that contains tungsten and carbide in equal proportions. Owing to its extraordinary hardness (three times that of steel), tensile strength, and wear resistance, it is used in a wide range of applications such as machine tools, cuttings tools, dies, punches, abrasives, and many other applications. It serves end markets such as mining and construction, automotive, power generation and fluid power manufacturing, aerospace and defense, and others.
Technavio’s analysts forecast the global tungsten carbide market to grow at a CAGR of 5.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global tungsten carbide market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tungsten Carbide Market 2017-2021
Technavio recognizes the following companies as the key players in the global tungsten carbide market: Carborundum Universal, CY CARBIDE, H.C. Starck, Kennametal, Nanchang Cemented Carbide, and Sandvik.
Other Prominent Vendors in the market are: Buffalo Tungsten, Chengdu Linray Carbide, Chengdu WOCO Carbide Industry, ChinaTungsten (Xiamen), DAAO Industry, DMEGC, Global Tungsten & Powders, Lineage Alloys, Reade International, Sinter Sud, Total Carbide, Ultra Carbide, and Zigong Huagang Cemented Carbide New Material.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emerging applications of tungsten carbide. In addition to the use of tungsten carbide in machine tools, cutting tools, dies, punches, and abrasives, technological advancements are showcasing the rich prospect for the use of tungsten carbide for new emerging applications. One of the applications is the use of tungsten carbide as a reforming catalyst for the conversion of natural gas to hydrogen gas.”
According to the report, one driver in the market is recycling of tungsten from scrap. The global tungsten carbide market has witnessed a continuous growth over the past few decades, which resulted in an increasing consumption of tungsten. Recycling of tungsten carbide is gaining popularity with recent feasible and advanced techniques showcasing effective extraction of tungsten from scrap. Currently, two methods are in practice for tungsten carbide recycling, which include the direct method and the indirect method.
Further, the report states that one challenge in the market is economic slowdown in China. Recent weak economic conditions in China resulted in more tungsten supply and less consumption. As a result, a downward trend in the price of tungsten was observed during 2013-2015. As China is the leading producer of tungsten ores with more than 60% of the global share, the economic slowdown and downward price trend affected the global tungsten carbide market.
Carborundum Universal, CY CARBIDE, H.C. Starck, Kennametal, Nanchang Cemented Carbide, and Sandvik.Other Prominent Vendors in the market are: Buffalo Tungsten, Chengdu Linray Carbide, Chengdu WOCO Carbide Industry, ChinaTungsten (Xiamen), DAAO Industry, DMEGC, Global Tungsten & Powders, Lineage Alloys, Reade International, Sinter Sud, Total Carbide, Ultra Carbide, and Zigong Huagang Cemented Carbide New Material.
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