New York, United States , June 27, 2024 (GLOBE NEWSWIRE) — The Global Tungsten Carbide Market Size is to Grow from USD 18.03 Billion in 2023 to USD 33.4 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.36% during the projected period.
Based on the application, the global tungsten carbide market is divided into cemented carbide, coatings, alloys, and others. Among these, the cemented carbide segment is anticipated to dominate the global tungsten carbide market during the projected timeframe. It is utilized in the mining and construction industries for chipless shaping, timber machining, composite substances, metal cutting, plastics, soft ceramics, wear parts, structural parts, and military equipment.Based on the end users, the global tungsten carbide market is divided into aerospace & defense, automotive, mining, and construction, electronics, and others. Among these, the automotive segment anticipated for the largest revenue share of the global tungsten carbide market during the projected timeframe. Due to the growing need for innovation and flexibility in the creation and production of new machinery, the automotive sector currently controls the majority of the market.This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Tungsten Carbide Market based on the below-mentioned segments:
(GlobeNewsWire)