The overall tungsten carbide powder market size on the basis of grade can be classified as rotary drilling & mining, metal forming & wear, submicron, corrosion resistant and general purpose. Rotary drilling & mining grade product led the overall business in 2015 on account of its high strength and superior stiffness, impact resistance. Furthermore, this product grade offers value added workability in severe conditions and is thus widely used across mining and oil & gas sector.
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On the basis of application, the global tungsten carbide powder market is segregated into machine tools & components, dies & punches and abrasive products. Machine tools & components accounted for the major chunk of the business in 2015. Increasing use of tungsten carbide powder for manufacturing nozzles, sheets, inserts, rods, strips and balls and many others for various end user industries are expected to drive the market’s growth. Mining & construction industry is paving the path for tungsten carbide powder industry growth in coming years due to increasing oil & gas exploration activities around the globe.
China, India and Japan are the principal consumers in the Asia Pacific region of tungsten carbide powder market. North America, led by the U.S. is forecast to witness moderate gains over the projected timeframe. Increasing oil & gas industry in the U.S. along with shale gas exploration will boost the regional product demand by 2024. In addition, uplifting regional construction industry after economic downturn will further complement business growth in the coming years. Europe tungsten carbide powder industry share will be driven by growing product demand in the construction due to increasing renovation and remodeling activities.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the tungsten carbide powder market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Key players operating in tungsten carbide powder market globally are Kennametal., Sandvik AB, Federal Carbide Company, Japan New Metal Company Ltd, Ceratizit, ChinaTungsten Online (Xiamen) Manufacturing & Sales Corporation, and Buffalo Tungsten. Other manufacturing companies are Global Tungsten & Powders, Jiangxi Yaosheng Tungsten Company Ltd., Zigong Huagang Cemented Carbide New Materials Company, H.C Starck, Reade International Corporation, Guangdong Xianglu Tungsten Company Ltd., Nanchang Cemented Carbide Co. Ltd., Manu and Sales Corporation (China), Extramet and Eurotungstene.
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