Press release
Global Tungsten Carbide Powder Market Set to Generate Over $2,000.0 Million Revenue in 2023
The biggest rage presently being observed in the tungsten carbide powder market is the increasing recycling of granular and powdered tungsten carbide scrap. Due to the supply constraints associated with the large-scale use of tungsten carbide, many manufacturers have started the in-house recycling and refining of the scrap, which has resulted in the domestic production and usage of recyclable tungsten carbide products. For example, Sumitomo Electric Hardmetal Corporation gathers the cement carbide scrap from various companies and reprocess and recycle it.
Get a sample copy of this market analysis: https://www.psmarketresearch.com/market-analysis/tungsten-carbide-powder-market/report-sample
Owing to the various characteristics of tungsten carbide such as high thermal conductivity, high resistance to scratches, indentations, acetone, gasoline, ammonia, ethanol, organic solvents, weak acids, and water, and also higher stiffness as compared to steel, it is increasingly being used in the metalwork-ing, power generation, automotive, defense, and oil & gas industries. In addi-tion to this, tungsten carbide can also be pressed and configured into different shapes and sizes and thus, used in cutting tools, drills, industrial machinery and equipment, and abrasives.
Due to the above-mentioned factors, the global tungsten carbide powder market is expected to increase its revenue from $1,762.1 million in 2017 to $2,176.8 million by 2023, demonstrating a CAGR of 3.6% during the forecast period (2018-2023). These materials are widely used in the mining and con-struction, industrial engineering, transportation, aerospace and defense, and oil and gas industries. Out of these, the oil and gas industry is expected to record the fastest growth in the demand for these materials during the fore-cast period, primarily due to the soaring exploration and production (E&P) ac-tivities.
Make enquiry before purchase:https://www.psmarketresearch.com/send-enquiry?enquiry-url=tungsten-carbide-powder-market
On the basis of grain size, the types of tungsten carbide powder available in the market are those with size less than 1 ?m, between 1-10 ?m, and greater than 10 ?m. Amongst these, the powder having grain size between 1-10 ?m recorded the highest sales in 2017. This is ascribed to the ability of this type of tungsten carbide powder to be used in making various types of machine equipment, cutting tools, and abrasive products.
Geographically, the Asia-Pacific (APAC) region is expected to register the fast-est growth in the demand for tungsten carbide powder during the forecast pe-riod. This is primarily attributed to the burgeoning demand for tungsten car-bide powder from the automotive industry in various APAC countries. For in-stance, China recorded the highest production of commercial vehicles and passenger cars in the world, with a total production of 29.0 million motor vehicles, in 2017. In addition to this, the flourishing construction and mining sectors in the country are expected to further boost the demand for tungsten carbide powder in the coming years.
Therefore, owing to the numerous advantages offered by tungsten carbide over other conventionally used materials in various industrial processes and the increasing number of construction and production activities across the world, the demand for tungsten carbide powder is expected to increase consi-derably in the coming years.
Some of the major players operating in the global tungsten carbide powder market are Chongyi Zhangyuan Tungsten Co. Ltd., Xiamen Tungsten Co. Ltd., GuangDong XiangLu Tungsten Co. Ltd., OC Oerlikon Corporation AG, Japan New Metals Co. Ltd., Nanchang Cemented Carbide Limited Liability Company, China Minmetals Corporation, and Kennametal Inc.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Get a sample copy of this market analysis: https://www.psmarketresearch.com/market-analysis/tungsten-carbide-powder-market/report-sample
Owing to the various characteristics of tungsten carbide such as high thermal conductivity, high resistance to scratches, indentations, acetone, gasoline, ammonia, ethanol, organic solvents, weak acids, and water, and also higher stiffness as compared to steel, it is increasingly being used in the metalwork-ing, power generation, automotive, defense, and oil & gas industries. In addi-tion to this, tungsten carbide can also be pressed and configured into different shapes and sizes and thus, used in cutting tools, drills, industrial machinery and equipment, and abrasives.
Due to the above-mentioned factors, the global tungsten carbide powder market is expected to increase its revenue from $1,762.1 million in 2017 to $2,176.8 million by 2023, demonstrating a CAGR of 3.6% during the forecast period (2018-2023). These materials are widely used in the mining and con-struction, industrial engineering, transportation, aerospace and defense, and oil and gas industries. Out of these, the oil and gas industry is expected to record the fastest growth in the demand for these materials during the fore-cast period, primarily due to the soaring exploration and production (E&P) ac-tivities.
Make enquiry before purchase:https://www.psmarketresearch.com/send-enquiry?enquiry-url=tungsten-carbide-powder-market
On the basis of grain size, the types of tungsten carbide powder available in the market are those with size less than 1 ?m, between 1-10 ?m, and greater than 10 ?m. Amongst these, the powder having grain size between 1-10 ?m recorded the highest sales in 2017. This is ascribed to the ability of this type of tungsten carbide powder to be used in making various types of machine equipment, cutting tools, and abrasive products.
Geographically, the Asia-Pacific (APAC) region is expected to register the fast-est growth in the demand for tungsten carbide powder during the forecast pe-riod. This is primarily attributed to the burgeoning demand for tungsten car-bide powder from the automotive industry in various APAC countries. For in-stance, China recorded the highest production of commercial vehicles and passenger cars in the world, with a total production of 29.0 million motor vehicles, in 2017. In addition to this, the flourishing construction and mining sectors in the country are expected to further boost the demand for tungsten carbide powder in the coming years.
Therefore, owing to the numerous advantages offered by tungsten carbide over other conventionally used materials in various industrial processes and the increasing number of construction and production activities across the world, the demand for tungsten carbide powder is expected to increase consi-derably in the coming years.
Some of the major players operating in the global tungsten carbide powder market are Chongyi Zhangyuan Tungsten Co. Ltd., Xiamen Tungsten Co. Ltd., GuangDong XiangLu Tungsten Co. Ltd., OC Oerlikon Corporation AG, Japan New Metals Co. Ltd., Nanchang Cemented Carbide Limited Liability Company, China Minmetals Corporation, and Kennametal Inc.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
