October 19, 2023 09:23 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Tungsten Carbide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. Drag bits
The global tungsten carbide market has witnessed remarkable growth, with a market size of US$ 19.4 Billion in 2022. Projections indicate that the market will continue to expand, reaching US$ 27.5 Billion by 2028, with a substantial Compound Annual Growth Rate (CAGR) of 5.9% during the forecast period from 2023 to 2028.
Tungsten carbide (WC) is a dense, light gray inorganic chemical compound produced by heating tungsten with carbon black in the presence of hydrogen. It can be shaped into various forms through the process of sintering and finds widespread use across multiple industries.
Tungsten carbide is renowned for its exceptional durability and performance, offering attributes such as increased strength, low electrical resistivity, high melting and boiling points, impressive hardness, and resistance to abrasion, heat, scratches, and corrosion. As a result, it is extensively applied in industries including aerospace and defense, automotive, mining and construction, electronics, sports, and medical.
Several trends are shaping the growth of the tungsten carbide market:
The report offers a comprehensive analysis of key market segments, including grade, application, and industry vertical.
The report presents an in-depth examination of the competitive landscape, featuring profiles of key players such as American Elements, Ceratizit S.A (Plansee SE), Extramet AG, Federal Carbide Company, H.C. Starck Tungsten GmbH, Japan New Metal Co. Ltd., Jiangxi Yaosheng Tungsten Company Ltd., Kennametal Inc., Merck KGaA, OC Oerlikon Management AG, Reade International Corp., Sumitomo Electric Industries Ltd., and Umicore N.V.
Key Questions Answered in This Report:
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