Tungsten Carbide Powder Market during Forecast 2020-2026

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Tungsten Carbide Powder Market Trend Analysis,
Competitive Market Share Forecast,
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Global Tungsten Carbide Powder is a chemical
compound consisting of atoms of tungsten and
carbide. The compound can be pressed and molded
into different shapes and sizes for usage in
cutting tools, industrial machinery, abrasives,
jewelry, and other tools and equipment. Tungsten
Carbide powder is characterized by high thermal
conductivity, intense strength, and extreme
stiffness. The powder formed is stored in sealed
polythene lined steel drums. Micro grain tungsten
carbide powder is employed for nozzles, end
mills, and circuit board drills while the fine
powder is used in cutting tools. The Global
Tungsten Carbide Powder Market accounted for USD
15.22 million in 2019 and is projected to grow at
a CAGR of 5.6 percent in the forecasted period
from 2020 to 2026. The rise in mining and
construction activities, expansion of the
transportation sector, development of engineering
industries are some of the factors propelling the
growth of the market and are expected to drive
the expansion of the market in the forecasted
period. In the mining and construction industry,
the powders are employed in tunnel boring
machines and roller cutters as they provide
resistance from abrasion, wear and tear and
improve the strength of materials.
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Global Tungsten Carbide Powder Market Market
Dynamics The rise in mining and construction
activities, expansion of the transportation
sector, development of engineering industries are
some of the factors propelling the growth of the
market and are expected to drive the expansion of
the market in the forecasted period. In the
mining and construction industry, the powders are
employed in tunnel boring machines and roller
cutters as they provide resistance from abrasion,
wear and tear and improve the strength of
materials. The powder is also widely used in the
jewelry industry to prevent them from getting
scratched or tarnished easily. Demand for energy
minerals such as coal has led to a rise in mining
activities, thereby leading to an increase in
demand for the global tungsten carbide powder
market. Additionally, rapid urbanization and
improved infrastructure have led to the expansion
of the construction project. The emerging
economies have been witnessing a rise in demand
for coal and other minerals owning to an increase
in electricity consumption to satisfy a large
population.
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Global Tungsten Carbide Powder Market Market
Segmentation On the basis of application, the
Global Tungsten Carbide Powder Market can be
classified as Machine Tools Components, Dies
Punches, Cutting Tools, and Abrasive Products. On
the basis of Grade, the Global Tungsten Carbide
Powder Market can be segmented as Rotary Drilling
Mining Grades, Submicron Grades, Metal Forming
Wear Grades, Corrosion Resistant Grades,
General Purpose Grades and Other Grades. On the
basis of End-Use, the Global Tungsten Carbide
Powder Market can be bifurcated as Mining
Construction, Transportation, Industrial
Engineering, Oil Gas, and Aerospace Defense.
In 2019, Mining and construction contributed the
largest share to the Global Tungsten Carbide
Powder Market owing to factors such as a rapid
increase in construction and building industries,
growth in population and urbanization, and an
increase in government infrastructure and
development plans. Sample Copy
https//www.blueweaveconsulting.com/global-tungste
n-carbide-powder-market-bwc19393/report-sample
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