Tungsten Carbide Market by End-user, Application, and Geography - Forecast and Analysis 2020-2024

  • Published: Jun 2020
  • Pages: 120
  • SKU: IRTNTR43897
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The tungsten carbide market size is expected to grow by $ 4.04 bn and record a CAGR of 4% during 2020-2024.

This post-pandemic global tungsten carbide market report has assessed the shift in consumer behaviour and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this tungsten carbide market analysis report, key drivers such as the dynamic properties of tungsten carbide have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as economic slowdown in China, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Tungsten Carbide Market Size be in 2020?

Tungsten-Carbide-Market-Market-Size-2019-2024

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Who are the Key Vendors in the Tungsten Carbide Market?

The tungsten carbide market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:

 

  • Buffalo Tungsten Inc.
  • Carborundum Universal Ltd.
  • CERATIZIT SA
  • CY Carbide Mfg. Co. Ltd.
  • Extramet Products LLC
  • HC Starck GmbH
  • Nanchang Cemented Carbide Co. Ltd.
  • Sandvik AB
  • Sumitomo Electric Industries Ltd.
  • Umicore

 

The tungsten carbide market is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This tungsten carbide market report further entails segmentations by End-user (Mining and construction, Automotive, Power generation and fluid power manufacturing, Oil and gas, and Others) and Geography (APAC, Europe, North America, South America, and MEA). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.

 

Which are the Key Regional Markets for Tungsten Carbide Market?

Tungsten-Carbide-Market-Market-Share-by-Region-2019-2024

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The report offers an up-to-date analysis of the geographical composition of the market. APAC had the largest market share in the tungsten carbide market in 2020, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing demand from mining and construction industries will significantly influence biofuels market growth in this region. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

45% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for tungsten carbide market in the region. This report provides estimations of the contribution of all regions to the growth of the tungsten carbide market size.

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What are the Key Factors Covered in this Tungsten Carbide Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive tungsten carbide market growth during the next five years
  • Precise estimation of the tungsten carbide market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tungsten carbide market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of tungsten carbide market vendors

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Tungsten Carbide Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 4%

Market growth 2020-2024

$ 4.04 billion

Market structure

Fragmented

YoY growth (%)

0.99

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 45%

Key consumer countries

China, US, Japan, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Buffalo Tungsten Inc., Carborundum Universal Ltd., CERATIZIT SA, CY Carbide Mfg. Co. Ltd., Extramet Products LLC, HC Starck GmbH, Nanchang Cemented Carbide Co. Ltd., Sandvik AB, Sumitomo Electric Industries Ltd., and Umicore

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook
    • Market size and forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Machine components and tools - Market size and forecast 2019-2024
    • Cutting and drilling tools - Market size and forecast 2019-2024
    • Dies and punches - Market size and forecast 2019-2024
    • Abrasives - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by Application

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Mining and construction - Market size and forecast 2019-2024
    • Automotive - Market size and forecast 2019-2024
    • Power generation and fluid power manufacturing - Market size and forecast 2019-2024
    • Oil and gas - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by End-user

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • North America - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Buffalo Tungsten Inc.
      • Carborundum Universal Ltd.
      • CERATIZIT SA
      • CY Carbide Mfg. Co. Ltd.
      • Extramet Products LLC
      • HC Starck GmbH
      • Nanchang Cemented Carbide Co. Ltd.
      • Sandvik AB
      • Sumitomo Electric Industries Ltd.
      • Umicore

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The tungsten carbide market growth will increase by $4.04 billion during 2019-2024.
      The tungsten carbide market is expected to grow at a CAGR of 4.10% during 2019-2024.
      Technavio has segmented the tungsten carbide market by end user (Mining and construction, Automotive, Power generation and fluid power manufacturing, Oil and gas, and Others) ,application (Machine components and tools, Cutting and drilling tools, Dies and punches, Abrasives, and Others) , and geographic (APAC, Europe, North America, South America, and MEA).
      Buffalo Tungsten Inc., Carborundum Universal Ltd., CERATIZIT SA, CY Carbide Mfg. Co. Ltd., Extramet Products LLC, HC Starck GmbH, Nanchang Cemented Carbide Co. Ltd., Sandvik AB, Sumitomo Electric Industries Ltd., Umicore are a few of the key vendors in the tungsten carbide market.
      APAC will register the highest growth rate of 44.80% among the other regions. Therefore, the tungsten carbide market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the tungsten carbide market growth are:
      • Vast reserves of tungsten ores in China
      • Emerging applications of tungsten carbide
      The tungsten carbide market vendors should focus on grabbing business opportunities from the mining and construction segment as it accounted for the largest market share in the base year.
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