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Market Size – USD 18.25 Billion in 2019, Market Growth - CAGR of 5.4%, Market Trends – Adoption of tungsten carbide in the jewelry manufacturing industry
VANCOUVER, BC, CANADA, May 10, 2022 /EINPresswire.com/ -- The global Tungsten Carbide Market will be worth USD 27.70 billion by 2027, according to a current analysis by Emergen Research. The rising demand for industrial machineries across various industries, like aerospace and defense, industrial engineering, transportation, and mining and construction, among others is expected to fuel the demand for tungsten carbide powder in the future. Additionally, with the growing emergence for metals, the requirement to raise their reserve base throughout multiple economies has made the major competitors to increase the expenditure regarding mining related and metal activities. After the economy went sluggish for a considerable period of time, the construction industry is again in the rise. Tungsten carbide is being used rapidly across the construction industry. This is because carbide tools have the potential to withstand extremes of temperatures as compared to the conventional steel tools. It is also used to cut tough materials like stainless and carbon steel.
The report is formulated with the updated and latest information of the global Tungsten Carbide market further validated and verified by the industry experts and professionals. The Global Tungsten Carbide Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Tungsten Carbide market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market. The COVID-19 pandemic has affected several sectors of the global market, and the Tungsten Carbide sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Tungsten Carbide industry.
𝗚𝗲𝘁 𝗙𝗿𝗲𝗲 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙 𝗖𝗼𝗽𝘆: @https://www.emergenresearch.com/request-sample/268
Sandvik AB, Ceratizit S.A., Nanchang Cemented Carbide Co., Ltd., China Tungsten Online, Kennametal Inc., Eurotungstene and Jiangxi Yaosheng Tungsten Co., Ltd. among others.
In February 2020, Switzerland based medical device manufacturer, Clariant Plastics & Coatings Healthcare Polymer Solutions developed a product named Mevopur. The technology utilizes tungsten carbide as a metallic filler in order for it to resist degradation which occurs when exposed to extreme humidity and temperature.
Cemented carbide is forecasted to bring lucrative business to the market and is likely to capture a market valuation of 48.8% by 2027. Tungsten carbide possesses properties such as low wear resistance, low abrasion resistance, high pressure resistance, and durability. Large numbers of manufacturers prefer tungsten carbide due to the unique combination of these characteristics and their cost effectiveness..
Forecasted to grow at a CAGR of 5.1%, the mining and construction segment is projected to register a potential growth which can be attributed to the growing number of mining activities across the developing nations Additionally, the automotive segment is also likely to project a significant growth throughout the forecasted period because of the growing usage of tungsten carbide in the manufacturing of automobiles.
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For the purpose of this report, Emergen Research has segmented into the global Tungsten Carbide Market on the application, end user and region:
Application Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Tungsten Carbide market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Tungsten Carbide market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Tungsten Carbide market.
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Tungsten Carbide market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
Comprehensive overview of the Tungsten Carbide market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Tungsten Carbide Market Size Worth USD 27.70 Billion By 2027
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