The global tungsten carbide powder market is projected to grow from 14.78 billion in 2016 to USD 24.90 billion by 2026, at a CAGR of 5.4% during the forecast period.

The increasing demand for industrial machineries from various end-use industries, such as mining & construction, industrial engineering, transportation, and aerospace & defense, is anticipated to drive the demand for tungsten carbide powder in the coming years. Along with the rising demand for metals, the need to increase their reserve base across the regions has led the market players to increase their spending in metal and mining-related activities.

Browse 110 market data tables and 70 figures spread through 165 pages and in-depth TOC on “Tungsten Carbide Powder Market by Grade (Rotary Drilling & Mining, Metal Forming & Wear), Application (Machine Tools & Components, Cutting Tools), End-Use Industry (Mining & Construction, Industrial Engineering), and Region - Global Forecast to 2026”

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Major Market Developments
• In December 2014, Ceratizit S.A. partnered with Grasche (USA) for the distribution of the company’s product offerings, mainly for the North American market. This strategy helped the company maintain a better distribution network, along with superior customer relationship, in the North American market.

• In September 2013, Sandvik acquired the complete share of Precorp, Inc. (U.S.), a company that offers polycrystalline diamond and carbide tools, such as drills, reamers, end mills, port tools, and micro tools. This acquisition helped Sandvik in providing high speed machining of die cast aluminum, carbide parts, and the machining of advanced composite materials mainly for the aerospace and automotive markets.

• In September 2012, Sandvik invested USD 29.5 million in Sandvik Coromant. This investment was related to the setting up of a new prototype workshop for cemented-carbide tools, as well as a new productivity and application center in Sandviken, Sweden; and an application center in Langfang, China. This investment helped the company set up new productivity standards mainly for the automotive, energy, and aerospace industries
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The machine tools & components application segment is anticipated to grow at the highest CAGR from 2016 to 2026

The machine tools & components application segment of the global tungsten carbide powder market is projected to grow at the highest CAGR from 2016 to 2026. The increasing demand for machine tools & components from the mining & construction industry and the expansion of the industrial engineering and transportation sectors are factors anticipated to boost the growth of this segment.
The mining & construction segment is the fastest-growing end-use industry segment of the global tungsten carbide powder market

The mining & construction end-use industry segment accounted for the largest share of the global tungsten carbide powder market in 2016; this segment is projected to grow at the highest CAGR from 2016 to 2026. The increasing demand for tungsten carbide powder in the mining & construction industry, owing to its superior properties such as resistance to abrasion & impact, toughness, and hardness, has contributed to the growth of this market.

Asia-Pacific accounted for the largest share of the global tungsten carbide powder market in 2016
Asia-Pacific accounted for the largest share of the global tungsten carbide powder market in 2016. The growing demand for tungsten carbide powder from various end-use industries, such as mining & construction, industrial engineering, and transportation is driving the growth of the tungsten carbide powder market in the Asia-Pacific region.

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