Economic growth for tungsten Carbide Powder Market is forecast to be 24.90 Billion USD by 2026

       

Tungsten Carbide Powder Market is expected to expand over the period between 2017 and 2021. Tungsten Carbide Powder Market report focuses on the major drivers and restraints for the key players.It goes without saying that the Tungsten Carbide Powder Market research report is a professional and in-depth study on the current state of the Tungsten Carbide Powder Industry.

 

Globally,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.Growing demand for tungsten carbide powder from various end-use industries, such as mining & construction, industrial engineering, and transportation industries is driving the growth of the global tungsten carbide powder market.

 

According to what Some authorities have said,the rotary drilling & mining grade segment accounted for the largest share of the global tungsten carbide powder market in 2016. Superior impact resistance, stiffness,and high-performance ability in severe working conditions make rotary drilling & mining one of the most preferred grades for tungsten carbide powder.

 

 

The machine tools & components application segment accounted for the largest share of the global tungsten carbide powder market in 2016. Increasing adoption of tungsten carbide powder for developing various components such as nozzles, inserts, rods, sheets, buttons, bits, tips, strips, and balls, among others, for various end-use industries are anticipated to drive the demand for tungsten carbide powder in the near future.

 

The mining & construction end-use industry accounted for the largest share of the global tungsten carbide powder market in 2016. Growth of this segment can be attributed to the increasing oil & gas exploration activities and rising government spending towards the development of infrastructures.