Tungsten Carbide Market Size, Share, Trends Analysis & Report 2023

Tungsten carbide is a light grey and dense compound that is manufactured from tungsten and carbon atoms. It offers enhanced toughness and low electrical resistivity and has the ability to withstand high temperatures and extreme weather conditions. Besides this, it assists in providing improved strength and resistance to abrasion, heat, scratch, and corrosion properties. As a result, tungsten carbide is widely employed in mining, construction, automotive, aerospace and defense, electronics, medical, and manufacturing industries across the globe.

The global tungsten carbide market size reached US$ 19.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Request a Sample Report:- https://www.imarcgroup.com/tungsten-carbide-market/requestsample

At present, the rising utilization of tungsten carbide in the automotive industry to produce high-performance auto parts, such as ball joints, tires, and brakes, that can withstand high stress and heat represents one of the key factors contributing to the market growth. Besides this, the increasing adoption of tungsten carbide in the medical industry for manufacturing various medical equipment is strengthening the market growth. In line with this, the rising demand for wear-resistant and durable components is propelling the growth of the market. Moreover, the increasing employment of tungsten carbide in and mining industry for producing downhole hammers, drill bits, tunnel boring machines, and roller cutters is bolstering the growth of the market. Furthermore, the growing demand for tungsten carbide due to the increasing number of construction projects is offering a positive market outlook.

Top Key Players covered in this report are: American Elements, Ceratizit S.A (Plansee SE), Extramet AG, Federal Carbide Company, H.C. Starck Tungsten GmbH, Japan New Metal Co. Ltd., Jiangxi Yaosheng Tunsten Company Ltd., Kennametal Inc., Merck KGaA, OC Oerlikon Management AG, Reade International Corp., Sumitomo Electric Industries Ltd. and Umicore N.V.

Ask To Analyst:– https://www.imarcgroup.com/request?type=report&id=6536&flag=C

The report segmented the market on the basis of region, grade, application and industry vertical.

Breakup by Grade:

Breakup by Application:

Breakup by Industry Vertical:

Breakup by Region:

Browse More:-

https://www.benzinga.com/pressreleases/23/08/33956565/gcc-walnut-market-report-2023-size-share-growth-till-2028

https://www.benzinga.com/pressreleases/23/08/33956859/japan-mushroom-market-report-2023-size-share-forecast-till-2028

https://www.benzinga.com/pressreleases/23/08/33956852/basil-extract-market-report-2023-global-size-share-growth-till-2028

https://www.benzinga.com/pressreleases/23/08/33956854/europe-stacker-market-report-2023-size-share-growth-till-2028

https://www.benzinga.com/pressreleases/23/08/33957054/japan-wax-market-report-2023-size-share-forecast-till-2028

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:IMARC Services Private Limited.

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected] No:(D) +91 120 433 0800Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800