NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the Global Tungsten Carbide Powder Industry report – https://www.reportlinker.com/p06033175/?utm_source=GNW
Machine Tools & Components, one of the segments analyzed in the report, is expected to register a CAGR of 7.7% and reach $9.4 billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, cutting tools segment growth is adjusted to a revised CAGR of 7% for the next 7 years.
The US market is valued at US$4.7 billion while China is forecast to grow at 11% CAGR
The US tungsten carbide powder market is valued at US$4.7 billion in 2020. China, the second largest economy in the world, is forecast to reach a projected market size of US$6 billion by 2027, representing a CAGR of 10.9% over the 2020-2027 analysis period. Other notable geographic markets include Japan and Canada, forecasting growth of 4.3% and 5.9%, respectively, over the period 2020-2027. Within Europe, growth of approx. 5.3% CAGR is forecast for Germany. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach $3.8 billion by 2027.
Die & Stamping segment is expected to register 6.3% CAGR
In the global Dies & Punches segment, the US, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment. These regional markets together make up a market size of $2.3 billion…
