Tungsten Carbide Powder Market: Information by Grade (Rotary Drilling & Mining, Metal Forming, Wear, Submicron, and Others), Application (Machine Tools, Cutting Tools, Dies and Punches, and Others) #https://www.marketresearchfuture.com/reports/tungsten-carbide-powder-market-5983
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Global Tungsten Carbide Powder Market Research Report: Forecast to 2023
Tungsten Carbide Powder Market Analysis, Business Strategy,
Opportunities, Trend, Market Segmentation and Region
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Copyright © 2017 Market Research Future.
Global Tungsten Carbide Powder Market Research Report: Forecast to 2023
Market Overview
Tungsten carbide powder is produced by carburization in a hydrogen atmosphere with tungsten powder
and carbon mixture. It offers high thermal conductivity, intense strength, and extreme stiffness, which
make it an excellent material of choice for all types of metal forming and cutting tools.
The global tungsten carbide powder market is primarily driven by the increasing demand for industrial
machinery in the industrial sector across the globe from various end-use industries such as automotive,
aerospace, chemical, and consumer electronics. According to a report about Strategic Technologies for
the Army of Twenty-First Century (STAR 21), tungsten carbide can be an alternative to depleted uranium
as both of them work against light armor, which may increase the product demand in military & defense
sector. Furthermore, the increasing adoption of tungsten carbide for manufacturing 3D printer’s nozzles
required in extrusion process can be a potential opportunity for the market growth over the assessment
period. According to the International Tungsten Industry Association (ITIA), tungsten shot and
ammunition are less hazardous alternatives to poisonous lead for hunting and in military training.
According to Stockholm International Peace Research Institute (SIPRI), the total U.S. military expenditure
was USD 611 billion in 2016 with a share of around 36% of total world military expenditure, which was
followed by China. The increase in military & defense expenditure is likely to propel the market growth
over the assessment period. Some of the key development trends noticed in the market include merg