Tungsten Carbide Market by End-user, Application, and Geography - Forecast and Analysis 2023-2027

Published: Jan 2023

Pages: 175

SKU: IRTNTR43897

Snapshot

Tungsten Carbide Market Forecast 2023-2027

The tungsten carbide market size is forecast to increase by USD 4.81 billion at a CAGR of 4.23% between 2022 and 2027. The market's expansion hinges on various factors, notably the rising need for tungsten carbide within the automotive sector, driven by its exceptional properties. It's dynamic nature, coupled with its robustness, makes it indispensable across diverse applications. Moreover, the mining and construction industries are experiencing a surge in demand for tungsten carbide due to its durability and high-performance characteristics. This compound's ability to withstand harsh conditions and provide superior performance in cutting tools and wear-resistant parts further propels its demand. These factors collectively contribute to the market's growth trajectory, indicating a promising outlook for tungsten carbide across multiple sectors.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by application (machine components and tools, cutting and drilling tools, dies and punches, abrasives, and others), 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 Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

Market Dynamics and Customer Landscape

The market is driven by robust manufacturing activities across various sectors, fostering demand for cemented carbide and tungsten carbide scrap. Enhanced physical and mechanical properties like superior abrasion resistance, deflection resistance, tensile strength, and compressive strength make it pivotal in mining activities and industrialization. Emerging economies fuel demand for mining equipment and infrastructure projects, yet challenges such as raw material shortage and shipping delays persist, necessitating efficient supply chain management for sustainable growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increasing demand from the mining and construction industries is notably driving market growth.?Mining and construction machinery and tools undergo harsh conditions, resulting in wear and tear of tools and devices is the major problem. This, with high toughness, strength, and durability, is an ideal material to withstand these harsh conditions.

Moreover, growing mining and construction industries in developing countries, especially in China, India, Malaysia, and Japan, along with increasing urbanization, will boost the demand for residential and commercial buildings in the construction industry in the coming years. Thus, the global sale of construction equipment is on a continuous rise. It is widely used in the construction industry, and this increase in the global demand for construction equipment will be one of the key drivers for the growth of the market during the forecast period.

Significant?Market Trend

The emerging applications of tungsten carbide are?emerging trends in the market.?In addition to the use of tungsten carbide in machine tools, cutting tools, dies, punches, and abrasives, technological advancements are showcasing the rich prospect for the use of it for new emerging applications. One of the applications is the use of it as a reforming catalyst for the conversion of natural gas to hydrogen gas. This technology is used in hydrogen-powered engines and fuel cells.

Furthermore, this metal's powder is also used in HVOF systems to offer high porosity, density, and strength for spraying and coating applications. Silver-tungsten-carbide composites are used to manufacture surface films and contacts. These silver-tungsten-carbide products showcase superior erosion resistance and anti-weld properties. Therefore, they are used in devices that require large low-voltage circuit breakers and other protective circuit breakers. Hence, all these factors will propel the growth of the global market during the forecast period.

Major Market Challenge

The toxicity and safety concerns are major challenges impeding the market growth.?This metal contains 5%-10% of cobalt, which is released into the air from hard metal industries. Ingestion of tungsten metal and carbide through the air, water, or food results in lung diseases, hard metal diseases, and carcinogenic health issues.

Moreover, most tungsten-related toxicities occur due to discharges that these metal plants release as residue wastewater. Humans are exposed to tungsten toxicity either in the form of tungsten metal or carbide through ingestion and breathing. Also, workers in this hard metal industry are regularly exposed, and the individual count is estimated at nearly 48,000. Additionally, the federal government also recommends that the permissible level of tungsten in air, water, and food needs to be addressed by metal manufacturers to avoid issues related to toxicity and safety. Therefore, all these may hinder the growth of the global market during the forecast period.

Key Market Customer Landscape

The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Buffalo Tungsten Inc. - The company offers tungsten and tungsten derivative products including tungsten powder, engineered powder, tungsten carbide powder, tungsten intermediates, thermal spray powder, and tungsten raw materials.
The key offerings of the company include tungsten carbide.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, robust, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

The market exhibits a diverse landscape shaped by several key segments. Manufacturing activities stand as a cornerstone, driving demand for tungsten carbide scrap recycling and fueling innovations in cemented carbide production. Industries reliant on precise control leverage automatic valves, showcasing the material's versatility. The market's allure also lies in the robust physical and mechanical properties of tungsten carbide, including exceptional abrasion and deflection resistance, along with impressive tensile and compressive strength. These attributes find extensive applications in mining activities, providing durability and reliability in harsh environments. As industrialization and urbanization surge in emerging economies, the demand for tungsten carbide amplifies, especially in infrastructural developments and mining equipment. Its role in critical sectors like petroleum tunneling highlights its indispensability, albeit concerns arise from raw material shortage and shipping delays, underscoring the market's complex dynamics.

The market share growth by the machine components and tools segment will be significant during the forecast period. The metal imparts properties such as high performance, strength, hardness, and durability to machine components and tools. Additionally, metal-based components and tools can withstand high temperatures and offer wear resistance, which is essential in the metalworking, automotive, aerospace, defense, oil and gas, and power industries.

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The machine components and tools segment was valued at USD 6.33 billion in 2017 and continued to grow until 2021. The machine components and tools where it is used include plungers, nozzles, bearings, bushings, pumps, conveyor rollers, drive wheels, mixers, jet mills, bearing shells, pulverizers, tool inserts, carbide seals, swirl plates, mechanical seals, and carbide tubing. The metal blades are used by leading global machine manufacturers, such as Oerlikon, Sulzer, Rolls-Royce, General Electric, and Pratt and Whitney. Owing to its superior strength, shock resistance, wear resistance, hardness, and ability to withstand high temperatures, it is preferred to produce industrial machinery and is expected to dominate the machine component and tools segment during the forecast period.

Which are the Key Regions for the Market?

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APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

Major end-user industries, including automotive, construction, aerospace and defense, are flourishing in APAC due to the significant economic growth. Automotive manufacturers in APAC widely use this metal and mill products. China, Japan, and India are the key contributors. Furthermore, the aviation industry in the region is also exhibiting growth due to the rising air passenger traffic. The region offers numerous opportunities to aerospace manufacturers and the general aviation industry. Therefore, the thriving aviation industry in the region will drive the demand for this metal, including heat-resistance superalloys and carbide products.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest market trends and growth opportunities from 2017 to 2027.

End-user Outlook
- Mining and construction
- Automotive
- Power generation and fluid power manufacturing
- Oil and gas
- Others

Application Outlook
- Machine components and tools
- Cutting and drilling tools
- Dies and punches
- Abrasives
- Others

Region Outlook
- North America
  - The U.S.
  - Canada
- Europe
  - The U.K.
  - Germany
  - France
  - Rest of Europe
- APAC
  - China
  - India
- Middle East & Africa
  - Saudi Arabia
  - South Africa
  - Rest of the Middle East & Africa
- South America
  - Chile
  - Brazil
  - Argentina

Market Analyst Overview

The market is witnessing significant growth driven by various industries and applications. One key area is 3D printing, where it is utilized for its exceptional abrasion resistance properties, making it suitable for creating durable and high-performance components. In the Aerospace and Defence sector, it's alloys are extensively used for manufacturing critical components such as auto parts, automatic valves, ball joints, and brakes, ensuring reliability and safety in demanding environments. Moreover, it plays a crucial role in chipless forming, providing superior compressive strength and deflection resistance in structural parts like crankshafts. Its high-temperature wear resistance makes it indispensable in metal cutting applications, mining equipment, and petroleum tunneling operations, enhancing durability and reducing maintenance costs.

Moreover, despite its numerous advantages, challenges such as raw material shortage and shipping delays can impact the market. Additionally, concerns about dust inhalation, lung fibrosis, silicosis, and skin allergies among workers in industries utilizing these highlight the importance of recycling initiatives and stringent safety measures. Overall, the market's growth is driven by its unmatched physical and mechanical properties, making it a preferred choice for wear parts, medical instruments, electronics, structural components, studs for tires, coatings, and welding powder in various industrial sectors.

Furthermore, the market is witnessing significant growth due to its diverse applications across various industries. In manufacturing activities, it is highly valued for its exceptional tensile strength and wear-resistant properties, making it a preferred choice for producing durable components like metallic cobalt tools and military components. As emerging economies focus on industrialization and infrastructural developments, the demand for it in infrastructure projects such as bridges, tunnels, and roads is increasing. Its use in mining activities and the mining industry is also notable, where it enhances the durability of tools and equipment used in harsh environments.

Market Scope
Report Coverage	Details
Page number	175
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.23%
Market growth 2023-2027	USD 4.81 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	3.67
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 44%
Key countries	US, China, India, Japan, and Russia
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	American Elements, Buffalo Tungsten Inc., CY Carbide Mfg. Co. Ltd., DAAO Industry Co. Ltd., Federal Carbide Co., GuangDong XiangLu Tungsten Co. Ltd., Reade International Corp., Hengdian Group Holdings Ltd., Japan New Metals Co. Ltd., Jiangxi Yaosheng Tungsten Co. Ltd., Kennametal Inc., Murugappa Group, Nanchang Cemented Carbide Co. Ltd., Sandvik AB, Sumitomo Electric Industries Ltd., Plansee SE, Umicore NV, Extramet Products LLC, ILJIN Diamond Co. Ltd., and HC Starck Tungsten GmbH
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the market size and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the industry across APAC, Europe, North America, South America, and Middle East and Africa
A thorough market research report analysis of the market’s competitive landscape and detailed information about companies
Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global tungsten carbide market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global tungsten carbide market 2017 - 2021 ($ million)

4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application

6.3 Machine components and tools - Market size and forecast 2022-2027
- Exhibit 34: Chart on Machine components and tools - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Machine components and tools - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Machine components and tools - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Machine components and tools - Year-over-year growth 2022-2027 (%)

6.4 Cutting and drilling tools - Market size and forecast 2022-2027
- Exhibit 38: Chart on Cutting and drilling tools - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Cutting and drilling tools - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Cutting and drilling tools - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Cutting and drilling tools - Year-over-year growth 2022-2027 (%)

6.5 Dies and punches - Market size and forecast 2022-2027
- Exhibit 42: Chart on Dies and punches - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Dies and punches - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Dies and punches - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Dies and punches - Year-over-year growth 2022-2027 (%)

6.6 Abrasives - Market size and forecast 2022-2027
- Exhibit 46: Chart on Abrasives - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Abrasives - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Abrasives - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Abrasives - Year-over-year growth 2022-2027 (%)

6.7 Others - Market size and forecast 2022-2027
- Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

6.8 Market opportunity by Application
- Exhibit 54: Market opportunity by Application ($ million)

7 Market Segmentation by End-user

7.1 Market segments
- Exhibit 55: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 56: Data Table on End-user - Market share 2022-2027 (%)

7.2 Comparison by End-user
- Exhibit 57: Chart on Comparison by End-user
- Exhibit 58: Data Table on Comparison by End-user

7.3 Mining and construction - Market size and forecast 2022-2027
- Exhibit 59: Chart on Mining and construction - Market size and forecast 2022-2027 ($ million)
- Exhibit 60: Data Table on Mining and construction - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Chart on Mining and construction - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Mining and construction - Year-over-year growth 2022-2027 (%)

7.4 Automotive - Market size and forecast 2022-2027
- Exhibit 63: Chart on Automotive - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Data Table on Automotive - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Chart on Automotive - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

7.5 Power generation and fluid power manufacturing - Market size and forecast 2022-2027
- Exhibit 67: Chart on Power generation and fluid power manufacturing - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Data Table on Power generation and fluid power manufacturing - Market size and forecast 2022-2027 ($ million)
- Exhibit 69: Chart on Power generation and fluid power manufacturing - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on Power generation and fluid power manufacturing - Year-over-year growth 2022-2027 (%)

7.6 Oil and gas - Market size and forecast 2022-2027
- Exhibit 71: Chart on Oil and gas - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on Oil and gas - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on Oil and gas - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Oil and gas - Year-over-year growth 2022-2027 (%)

7.7 Others - Market size and forecast 2022-2027
- Exhibit 75: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.8 Market opportunity by End-user
- Exhibit 79: Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 80: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 81: Chart on Market share by geography 2022-2027 (%)
- Exhibit 82: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison
- Exhibit 83: Chart on Geographic comparison
- Exhibit 84: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027
- Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027
- Exhibit 89: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027
- Exhibit 93: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027
- Exhibit 97: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 101: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 103: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 China - Market size and forecast 2022-2027
- Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

9.9 India - Market size and forecast 2022-2027
- Exhibit 109: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 111: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on India - Year-over-year growth 2022-2027 (%)

9.10 Japan - Market size and forecast 2022-2027
- Exhibit 113: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 114: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 115: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 116: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.11 Russia - Market size and forecast 2022-2027
- Exhibit 117: Chart on Russia - Market size and forecast 2022-2027 ($ million)
- Exhibit 118: Data Table on Russia - Market size and forecast 2022-2027 ($ million)
- Exhibit 119: Chart on Russia - Year-over-year growth 2022-2027 (%)
- Exhibit 120: Data Table on Russia - Year-over-year growth 2022-2027 (%)

9.12 US - Market size and forecast 2022-2027
- Exhibit 121: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 122: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 123: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 124: Data Table on US - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography
- Exhibit 125: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 126: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 127: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 128: Overview on factors of disruption

11.4 Industry risks
- Exhibit 129: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 130: Vendors covered

12.2 Market positioning of vendors
- Exhibit 131: Matrix on vendor position and classification

12.3 American Elements
- Exhibit 132: American Elements - Overview
- Exhibit 133: American Elements - Product / Service
- Exhibit 134: American Elements - Key offerings

12.4 Buffalo Tungsten Inc.
- Exhibit 135: Buffalo Tungsten Inc. - Overview
- Exhibit 136: Buffalo Tungsten Inc. - Product / Service
- Exhibit 137: Buffalo Tungsten Inc. - Key offerings

12.5 CY Carbide Mfg. Co. Ltd.
- Exhibit 138: CY Carbide Mfg. Co. Ltd. - Overview
- Exhibit 139: CY Carbide Mfg. Co. Ltd. - Product / Service
- Exhibit 140: CY Carbide Mfg. Co. Ltd. - Key offerings

12.6 Extramet Products LLC
- Exhibit 141: Extramet Products LLC - Overview
- Exhibit 142: Extramet Products LLC - Product / Service
- Exhibit 143: Extramet Products LLC - Key offerings

12.7 HC Starck Tungsten GmbH
- Exhibit 144: HC Starck Tungsten GmbH - Overview
- Exhibit 145: HC Starck Tungsten GmbH - Product / Service
- Exhibit 146: HC Starck Tungsten GmbH - Key offerings

12.8 Hengdian Group Holdings Ltd.
- Exhibit 147: Hengdian Group Holdings Ltd. - Overview
- Exhibit 148: Hengdian Group Holdings Ltd. - Product / Service
- Exhibit 149: Hengdian Group Holdings Ltd. - Key offerings

12.9 Japan New Metals Co. Ltd.
- Exhibit 150: Japan New Metals Co. Ltd. - Overview
- Exhibit 151: Japan New Metals Co. Ltd. - Product / Service
- Exhibit 152: Japan New Metals Co. Ltd. - Key offerings

12.10 Jiangxi Yaosheng Tungsten Co. Ltd.
- Exhibit 153: Jiangxi Yaosheng Tungsten Co. Ltd. - Overview
- Exhibit 154: Jiangxi Yaosheng Tungsten Co. Ltd. - Product / Service
- Exhibit 155: Jiangxi Yaosheng Tungsten Co. Ltd. - Key offerings

12.11 Kennametal Inc.
- Exhibit 156: Kennametal Inc. - Overview
- Exhibit 157: Kennametal Inc. - Business segments
- Exhibit 158: Kennametal Inc. - Key offerings
- Exhibit 159: Kennametal Inc. - Segment focus

12.12 Murugappa Group
- Exhibit 160: Murugappa Group - Overview
- Exhibit 161: Murugappa Group - Business segments
- Exhibit 162: Murugappa Group - Key offerings
- Exhibit 163: Murugappa Group - Segment focus

12.13 Nanchang Cemented Carbide Co. Ltd.
- Exhibit 164: Nanchang Cemented Carbide Co. Ltd. - Overview
- Exhibit 165: Nanchang Cemented Carbide Co. Ltd. - Product / Service
- Exhibit 166: Nanchang Cemented Carbide Co. Ltd. - Key offerings

12.14 Plansee SE
- Exhibit 167: Plansee SE - Overview
- Exhibit 168: Plansee SE - Product / Service
- Exhibit 169: Plansee SE - Key offerings

12.15 Sandvik AB
- Exhibit 170: Sandvik AB - Overview
- Exhibit 171: Sandvik AB - Business segments
- Exhibit 172: Sandvik AB - Key news
- Exhibit 173: Sandvik AB - Key offerings
- Exhibit 174: Sandvik AB - Segment focus

12.16 Sumitomo Electric Industries Ltd.
- Exhibit 175: Sumitomo Electric Industries Ltd. - Overview
- Exhibit 176: Sumitomo Electric Industries Ltd. - Business segments
- Exhibit 177: Sumitomo Electric Industries Ltd. - Key news
- Exhibit 178: Sumitomo Electric Industries Ltd. - Key offerings
- Exhibit 179: Sumitomo Electric Industries Ltd. - Segment focus

12.17 Umicore NV
- Exhibit 180: Umicore NV - Overview
- Exhibit 181: Umicore NV - Business segments
- Exhibit 182: Umicore NV - Key news
- Exhibit 183: Umicore NV - Key offerings
- Exhibit 184: Umicore NV - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 185: Inclusions checklist
- Exhibit 186: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 187: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 188: Research methodology
- Exhibit 189: Validation techniques employed for market sizing
- Exhibit 190: Information sources

13.5 List of abbreviations
- Exhibit 191: List of abbreviations

Methodology

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.

INFORMATION 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

DATA 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

REPORT 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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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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