Tungsten carbide market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. A strong trend of R&D investments in Tungsten Carbide Industry will majorly drive the tungsten carbide market. Other growth drivers include the need to curtail costs, growth and increased use of shifting commodity prices, strength of private label brands and increased competition from players in tungsten carbide industries.

Analysis of latest tungsten market in China from Chinatungsten Online: In tungsten concentrate market last week, spot supply remained tight, buyers and sellers had low willingness to trade and large quantities of trading was rarely seen. Stocks in the tungsten ore were in low level while traders were reluctant to sell without the pressure of stocks. Moreover, purchasers were active to enquiry. In the market, low price of goods were less and the quotation became stable amid prices of 65% wolframite concentrate were $16,589-16,899/t.

Metal carbides play a vital role in end use industries, due to their valuable properties. Globally, they play a dynamic role in many areas of material science, physics and chemistry. These metal carbide are available in various sizes and shapes, and offer a variety of properties, such as such as hardness, stiffness, etc. Tungsten carbide is one of these metal carbides and exhibits the aforementioned properties. It is produced by the reaction of tungsten hexachloride with methane or methanol, which is the source of carbon in the reaction. Tungsten carbide is an inorganic chemical compound, represented by the chemical formula WC and physically, it is in the form of a fine grey powder. The formation of tungsten carbide involves an equal number of carbon and tungsten atoms. In terms of properties, tungsten carbide is much stiffer than steel and denser than titanium. Its hardness is comparable with precious metals, such as ruby, sapphire and corundum. Owing to tungsten carbide’s high resistivity to abrasion, it is widely used in the manufacturing industry for cutting tools. The only drawback in the application of tungsten carbide is that it can decompose at high temperatures and separate into its initial form, i.e. as tungsten and a carbide.

Rare earth market quotation: Chinese rare earth price continued to remain weak adjustment last week amid the price of dysprosium oxide, terbium oxide, neodymium oxide declined slightly.