Market Overview:
The global tungsten titanium carbide market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for tungsten titanium carbide in various applications, such as automobile, machine tool, and other applications. In terms of type, the global tungsten titanium carbide market is segmented into tungsten/titanium: 50/50 and tungsten/titanium: 70/30. The 50/50 segment is expected to hold a larger share of the global market than the 70/30 segment during the forecast period.
Product Definition:
Tungsten titanium carbide is a compound made from the elements tungsten, titanium and carbon. It is a very hard material that can be used to make cutting tools and wear-resistant surfaces.
Tungsten/Titanium: 50/50:
Titanium is a very strong, lightweight material. It has the highest strength of any metal; it is four times stronger than steel and one third its weight makes it ideal for use in aerospace applications. Titanium alloys have been used in aircraft structural components since the 1940s because of their high strength-to-weight ratio, corrosion resistance and low density.
Tungsten/Titanium: 70/30:
Titanium/tungsten carbide is a compound of tungsten and titanium. It has high melting point, high tensile strength and good corrosion resistance. The product finds application in various industries including automotive, aerospace & defense, construction equipment industry and energy sector among others.
Application Insights:
Automotive was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The product is widely used in automotive industry owing to several properties such as high corrosion resistance, excellent hardness, and good wear & tear resistance. In addition, it has a low level of radioactivity which makes it suitable for use in automobiles.
The machine tool industry also utilizes tungsten titanium carbide extensively due to its superior characteristics such as high strength and good machinability. It can be easily machined into desired shapes & sizes thus making it an important material for manufacturing various machine tools used across industries including metal cutting machines, drilling machines etcetera. Other applications include energy generation equipment (nuclear reactors), heavy machinery (cranes), medical equipment (MRI scanners), water treatment plants among others.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for a revenue share of over 57%. The region is expected to continue its dominance over the forecast period. This growth can be attributed to increasing product demand from industries including automotive, industrial machinery, aerospace and others.
The growing manufacturing sector in developing economies such as China and India coupled with favorable government policies aimed at promoting domestic production is likely to drive industry expansion. In addition, rising investments by multinational companies are anticipated to further boost consumption levels across this region during the forecast period. For instance, MSC Industrial Directives has signed an MoU with Jain Irrigation Systems Limited (JISL) for providing solutions related to irrigation equipment based on tungsten carbide products in India.
Europe was estimated as second largest consumer of global tungsten titanium carbide market after Asia Pacific in 2017 owing high product penetration across major end-use industries such as automotive.
Growth Factors:
- Increasing demand from the aerospace and defense industries as a result of the superior properties of Tungsten Titanium Carbide over other materials.
- Growing demand for Tungsten Titanium Carbide in medical implants and prostheses due to its biocompatibility.
- Rising popularity of Tungsten Titanium Carbide in cutting tools and wear parts due to its superior wear resistance.
- Increasing use of Tungsten Titanium Carbide in energy generation applications due to its high melting point and thermal conductivity.
Scope Of The Report
Report Attributes
Report Details
Report Title
Tungsten Titanium Carbide Market Research Report
By Type
Tungsten/Titanium: 50/50, Tungsten/Titanium: 70/30
By Application
Automobile, Machine Tool, Other
By Companies
H.C. Starck, Nano Research Elements, Beijing Youxinglian Nonferrous Metals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
137
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Tungsten Titanium Carbide Market Report Segments:
The global Tungsten Titanium Carbide market is segmented on the basis of:
Types
Tungsten/Titanium: 50/50, Tungsten/Titanium: 70/30
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automobile, Machine Tool, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- H.C. Starck
- Nano Research Elements
- Beijing Youxinglian Nonferrous Metals
Highlights of The Tungsten Titanium Carbide Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tungsten/Titanium: 50/50
- Tungsten/Titanium: 70/30
- By Application:
- Automobile
- Machine Tool
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tungsten Titanium Carbide Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tungsten titanium carbide is a very hard, brittle material that is used in industrial applications. It has excellent resistance to wear and tear, making it ideal for use in parts that are subjected to heavy use.
Some of the major companies in the tungsten titanium carbide market are H.C. Starck, Nano Research Elements, Beijing Youxinglian Nonferrous Metals.
The tungsten titanium carbide market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tungsten Titanium Carbide Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tungsten Titanium Carbide Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tungsten Titanium Carbide Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tungsten Titanium Carbide Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tungsten Titanium Carbide Market Size & Forecast, 2020-2028
4.5.1 Tungsten Titanium Carbide Market Size and Y-o-Y Growth
4.5.2 Tungsten Titanium Carbide Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Tungsten/Titanium: 50/50
5.2.2 Tungsten/Titanium: 70/30
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automobile
6.2.2 Machine Tool
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tungsten Titanium Carbide Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tungsten Titanium Carbide Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Tungsten/Titanium: 50/50
9.6.2 Tungsten/Titanium: 70/30
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automobile
9.10.2 Machine Tool
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Tungsten/Titanium: 50/50
10.6.2 Tungsten/Titanium: 70/30
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automobile
10.10.2 Machine Tool
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Tungsten/Titanium: 50/50
11.6.2 Tungsten/Titanium: 70/30
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automobile
11.10.2 Machine Tool
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Tungsten/Titanium: 50/50
12.6.2 Tungsten/Titanium: 70/30
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automobile
12.10.2 Machine Tool
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Tungsten/Titanium: 50/50
13.6.2 Tungsten/Titanium: 70/30
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automobile
13.10.2 Machine Tool
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tungsten Titanium Carbide Market: Competitive Dashboard
14.2 Global Tungsten Titanium Carbide Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 H.C. Starck
14.3.2 Nano Research Elements
14.3.3 Beijing Youxinglian Nonferrous Metals
