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.
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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The rotary drilling & mining segment is the fastest-growing grade segment of the global tungsten carbide powder market
The rotary drilling & mining grade 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 between 2016 and 2026. Increasing investments made towards the discovery of oil & gas resources is anticipated to drive the growth of the rotary drilling & mining grade segment.
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.