The latest report on the global tungsten carbide market based on industry trends, data analysis, leading companies, and the use of some program data and some important geographic dividends is released. It combines various conditions of the market for analysis, covering the analysis of the tungsten carbide industry cluster itself, such as limitations, future aspects, and growth momentum.
From 2021 to 2027, tungsten carbide will grow at the highest compound annual growth rate of 5.27%. The market value of the tungsten carbide industry in the past 2020 is US$659.3 million.
This analysis focuses on the impact of COVID-19 on the industry to help more practitioners make more effective and scientific business decisions. As a pure metal, tungsten has a unique position in the market, because its characteristics can meet high strength and high hardness in the machinery industry, and it has both corrosion resistance, thermal conductivity and electrical conductivity. The Asia-Pacific region has a dominant demand for tungsten carbide. The Asia-Pacific region accounts for 70.37% of the global consumer market. The second consumer region is North America, which accounts for 16.54%.
In terms of specifications, the output of 1-10μm has the largest proportion of tungsten output, which is 45.82%. According to application statistics, the consumption of cemented carbide in 2019 accounted for 69.28% of the global share of the tungsten market.