Global Tungsten Carbide Powder is a chemical compound consisting of atoms of tungsten and carbide. The compound can be pressed and molded into different shapes and sizes for usage in cutting tools, industrial machinery, abrasives, jewelry, and other tools and equipment. Tungsten Carbide powder is characterized by high thermal conductivity, intense strength, and extreme stiffness. The powder formed is stored in sealed polythene lined steel drums. Micro grain tungsten carbide powder is employed for nozzles, end mills, and circuit board drills while the fine powder is used in cutting tools.
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The rise in mining and construction activities, expansion of the transportation sector, development of engineering industries are some of the factors propelling the growth of the market and are expected to drive the expansion of the market in the forecasted period. In the mining and construction industry, the powders are employed in tunnel boring machines and roller cutters as they provide resistance from abrasion, wear and tear and improve the strength of materials. The powder is also widely used in jewelry to prevent them from getting scratched or tarnished easily.
The emerging economies have been witnessing a rise in demand for coal and other minerals owning to an increase in electricity consumption to satisfy a large population. In addition, increasing investments made towards the consumption of oil and gas resources, increasing demand for tungsten carbide powder in the mining and construction industry owing to superior properties such as resistance to abrasion & impact, toughness, and hardness are anticipated to drive the expansion of the rotary drilling and mining grade segment. Henceforth, all these factors are anticipated to lead to an increase in demand for tungsten carbide powders.
On the basis of application, the Global Tungsten Carbide Powder Market can be classified as Machine Tools & Components, Dies & Punches, Cutting Tools, and Abrasive Products. On the basis of Grade, the Global Tungsten Carbide Powder Market can be segmented as Rotary Drilling & Mining Grades, Submicron Grades, Metal Forming & Wear Grades, Corrosion Resistant Grades, General Purpose Grades and Other Grades.
North America, Europe, Asia-Pacific, and the Middle East and Africa are few of the key regions where the presence of Global Tungsten Carbide Powder Market can be witnessed. In 2019, Asia-Pacific accounted for the largest contribution to the Global Tungsten Carbide Powder Market due to the rise in construction, mining and engineering activities in the region.
Kennametal Inc (US), Extrament (Switzerland), Guangdong Xianglu Tungsten Co Ltd (China), Sandvik AB (Sweden), Federal Carbide Company (US), Japan New Metal Co. Ltd (Japan), Nanchang Cemented Carbide Co Ltd (China), China Tungsten Online (Xiamen), Manu & Sales Corp. (China), Jiangxi Yaosheng Tungsten Co. Ltd (China) and Eurotungstene (France) are few of the key market players in the Global Tungsten Carbide Power Market.
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