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Opportunities, Trends, Statistics and Forecast 2015 – 2020 of Tungsten Carbide Market

Posted by: Chris Na 2021-11-16 Comments Off on Opportunities, Trends, Statistics and Forecast 2015 – 2020 of Tungsten Carbide Market

Opportunities, Trends, Statistics and Forecast 2015 – 2020 of tungsten Carbide Market

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Category: Tungsten’s News
Published on Tuesday, 15 September 2015 16:31

Tungsten carbide is widely used in manufacturing cutting tools used in various machineries. Owing to their high resistance to abrasions, there is a huge demand for the chemical for manufacturing cutting tools. Tungsten carbide cutting surfaces are used in the machineries through material such as stainless steel and carbon steel. 

Tungsten carbide is also used in the tools that are at higher risk of getting worn off. Tungsten carbide is widely used in high quantity production runs. Tungsten carbide when used in manufacturing several cutting tools offer better finish on parts and also provides high temperature resistance which in turn helps in achieving faster machining. Owing to the superior properties of finished products many manufacturers are using tungsten carbide to manufacture a wide range of cutting tools. Tungsten carbide also used to manufacture ammunition. 

This chemical is used in manufacturing the armor-piercing ammunition. Especially, in those regions where uranium is not available or is politically unacceptable. Owing to depleting uranium reserves many ammunition manufacturers are shifting their focus towards tungsten carbide. Tungsten carbide has become a popular material used to manufacture a range of bridal jewelry mainly due to its high resistance to scratching as well as due to its hardness. Tungsten carbide is also used to manufacture a range of surgical instruments such as scissors, blade handles and forceps among others. Even though, tungsten carbide is more costlier than its stainless steel counter parts it is widely used in various applications as it offers high performance than most of its alternatives. Thus, growing demand for high quality products is expected to boost the overall growth of the tungsten carbide market.

Asia Pacific is expected to be one of the major manufacturers of tungsten carbide owing to the presence of large number of manufacturers having huge production capacity in China. On the other hand, North America is expected to be the largest consumer of tungsten carbide.

Some of the major manufacturers of tungsten carbide include American Elements, China Minmetals Corporation and Buffalo Tungsten among others.

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