Near future market expectation of tungsten carbide.
The whole tungsten carbide powder market stands at US$ 19.97 billion in 2022. From 2022 to 2032, demand for tungsten carbide powder is projected to expand at a CAGR of 6%. Some experts foresee that by 2032, the whole market is estimated to account for a valuation of US$ 35.64 billion.By progressing at a CAGR of 6.6%, the Chinese tungsten carbide powder market is expected to be worth US$ 4.46 billion by the year of 2032.
Above expectation means there are huge potential for the tungsten carbide manufacturers,including Zhuzhou Hongtong Tungsten Carbide Co.,Ltd. We are also making plan for expanding our facilities and production capacity, step by step in the coming 5 years. Last year, we started the plan, and up till now, first step of working condition improvement has been finished.
Increasing construction activities, growing consumption of industrial machinery, rising urbanization and supportive government initiatives to boost mining activities are major factors expected to prominently drive demand for tungsten carbide powder over the coming years.
Tungsten Carbide Market by Application:
Mining Tools & Components; Cutting Tools; Dies & Punching; Abrasive Products; Other Applications
Tungsten Carbide Market by End Use:
Mining & Construction; Industrial Engineering; Transportation; Oil & Gas; Aerospace & Defense; Other End Uses
Tungsten Carbide Market by Region:
North America; Latin America; Europe; APAC; MEA
No matter where are you are from, and which industry you are in, if you have any request for tungsten carbide, feel free to talk to Arris and Zhuzhou Hongtong.
ZHUZHOU HONGTONG TUNGSTEN CARBIDE CO.,LTD
As a professional tungsten carbide manufacturer from China, with more than 20 years’ experience, we have skilled engineers and technical know-how, to meet any of your carbide request.