The Global Ultrafine Tungsten Carbide Powder Market size is projected to reach USD 1.4 billion by 2028 from an estimated USD 0.8 billion in 2017, at a CAGR of 8%. The increase in demand for precision engineering components and the technological advancements in aerospace & defense are expected to drive the growth of this market over the forecast period.
Ultrafine Tungsten Carbide Powder is a type of ultrafine-grained, metal-based material. It can be made by grinding or atomizing and sintering the raw materials into fine particles with an average grain size of less than 100 µm. Tungsten carbides are classified as ceramic composites, in which around 60% to 70% percent by mass consists of metal (tungsten) particles dispersed in a glassy matrix that contains carbon and other elements.
On the basis of Types, the market is segmented into Standard Powder, Nano Powder, and Others.
Standard Ultrafine Tungsten Carbide Powder is a chemical compound containing tungsten and carbon. It has high hardness, strong wear resistance, excellent performance in edge stability under load as well as good thermal conductivity. Standard Ultrafine Tungsten Carbide Powder has been widely used for drill bits, tooling of dies and molds, and cutting tools.
Nano Ultrafine Tungsten Carbide Powder is a powder of tungsten carbide that is broken down into ultra-small particles. The size of these nanopowders ranges from 0.01 to 100 nm which are smaller than the regular-sized nanostructures (0.002 - 50 nm). Nano Ultrafine Tungsten Carbide Powders can be made using three different methods: mechanical grinding, chemical etching, or ion beam cleavage technique(IBE).
On the basis of Application, the market is segmented into Drill, Mold, Needle, and Cutting Tool.
It has been widely accepted that ultrafine particle powders can be utilized for machine drilling tools with a much higher degree of success. The ultrafine powder has been subjected to high pressure and temperature during the drilling process, which enhances its properties such as hardness and toughness. As for cutting tool applications, it is difficult to find an appropriate substitute material that can be substituted by tungsten carbide powders due to their excellent performance in terms of wear resistance, strength, and electrical insulation.
Ultrafine particles have good thermal conductivity capabilities when they are molded into any shape or size while still maintaining required physical properties like elasticity at elevated temperatures.
The use of Ultra Fine Tungsten Carbide Powder in needles is increasing with the increase in demand for medical equipment. Needle application has been one of the major users of tungsten carbide powder due to its excellent wear resistance which continues rubbing friction without wearing out or breaking.
The need for more safety also increases these applications as tungsten carbide does not produce sparks when cut through and could be used during surgical procedures on patients who have a history of an allergic response to metal dust such that they are prone to form life-threatening ulcers if exposed again.
Tungsten Carbide Powder may also be utilized without binder materials because it offers better mechanical qualities than many other alternative metals used in cutting tools.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is expected to witness healthy growth over the forecast period. The Latin American market is anticipated to be driven by rapid economic development, increased investments in infrastructure, and government initiatives for expanding manufacturing facilities in Brazil, Argentina, Mexico, and Chile.
The Asia Pacific region which accounted for the largest share of ultrafine tungsten carbide powder consumption will maintain its dominant position during the study period from 2021-2028.
One of the major factors driving this growth is the increasing demand for drilling tools, which in turn has resulted in increased production and consumption of ultra-high grade cutting tools such as drills that require HSS (High-Speed Steel) grades with superior performance characteristics. Standard powders are preferred because they can be used for other applications where powder metallurgy cannot be applied, such as molding or needle-making industries.
Up Market Research published a new report titled “Ultrafine Tungsten Carbide Powder Sales Market research report which is segmented by Types (Standard Powder, Nano Powder, Others), By Applications (Drill, Mold, Needle, Cutting Tool, Others), By Players/Companies Xiamen Tungsten, ALMT Corp, Wolfram, China Minmetals, Guangdong Xianglu Tungsten, Chongyi Zhangyyuan Tungsten, Japan New Metals”.
Report Attributes | Report Details |
Report Title | Ultrafine Tungsten Carbide Powder Sales Market Research Report |
By Type | Standard Powder, Nano Powder, Others |
By Application | Drill, Mold, Needle, Cutting Tool, Others |
By Companies | Xiamen Tungsten, ALMT Corp, Wolfram, China Minmetals, Guangdong Xianglu Tungsten, Chongyi Zhangyyuan Tungsten, Japan New Metals |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 233 |
Number of Tables & Figures | 164 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Standard Powder, Nano Powder, Others and By Application Drill, Mold, Needle, Cutting Tool, Others.
Some of the companies that are profiled in this report are:
Ultrafine Tungsten Carbide Powder Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Ultrafine Tungsten Carbide Powder Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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