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Cemented Carbide Market Dynamics, Export Research Report and Forecast to 2028
12/3/2021
Cemented carbide consists of fine particles of carbide cement and metal composites. It is a hard material, which is primarily used as a cutting tool material. Cemented carbide is available in the form of tungsten carbide (WC), titanium carbide (TiC), and tantalum carbide (TaC) as aggregate. Cemented carbide cutters provide superior surface finish and allow faster machining than high-speed steel. Carbide tools can withstand higher temperatures than the standard high-speed steel tools. Carbide is used to cut tough materials such as carbon steel or stainless steel. Cemented carbide possesses properties such as durability, hardness, toughness, wear & abrasion resistance, and pressure resistance.
Cemented carbides are metal alloy composites, where carbide particles act as aggregates and metallic binders serve as matrix. The process of combining carbide particles with binders is known as sintering. During the process, the binder is cementing the carbide grains and thereby creates the metal composite. A carbide producer can alter the carbide's performance to particular applications by controlling various parameters such as grain size, cobalt content, and alloy carbides and carbon content.
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Cemented Carbide Market: Segmentation Outlook
The global cemented carbide market can be segmented based on material composition, end-use industry, and region. Based on material composition, the cemented carbide market can be classified into tungsten carbide (WC), titanium carbide (TiC), and tantalum carbide (TaC). Tungsten carbide is expected to be the leading segment of the global cemented carbide market during the forecast period. Tungsten carbide possesses properties such as low wear resistance, low abrasion resistance, high pressure resistance, and durability. Large numbers of manufacturers prefer tungsten carbide due to the unique combination of these characteristics and their cost effectiveness.
Based on end-use industry, the global cemented carbide market can be divided into automotive & metal, aerospace & defense, oil & gas, mining & construction, and electronics & communication. Automotive & metal is anticipated to be the leading segment of the global cemented carbide market during the forecast period.
Cemented Carbide Market: Regional Outlook
In terms of region, the global cemented carbide market can be segregated into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is estimated to be the leading region of the global cemented carbide market during the forecast period. Rise in industrialization and urbanization in prominent countries such as India and China is a key factor driving the automotive & metal segment of the market in Asia Pacific.
After Asia pacific, North America is projected to account for large share of the global cemented carbide market during the forecast period. Increase in investment in mining & construction activities in Canada and the U.S. is the key factor driving the cemented carbide market in North America.
Cemented Carbide Market: Key Players
The global cemented carbide market is fragmented. Large numbers of companies operate at the global and regional level. Major companies include Sandvik, IMC Group, Kennametal, Mitsubishi Materials, Sumitomo Corporation, Hitachi Metals, Ceratizit S.A, China Minmetals, Xiamen Tungsten, American Elements, M.S. Enterprises, Sinter Sud S.p.A., General Carbide Corp., T&D Material Manufacturing, and Dymet Alloys.
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