Tungsten Carbide Button Market to 2028 - Substantial Focus on R&D for Making Ultrafine Grades

The Asia-Pacific region accounted for the largest market revenue share of 46.56% in 2017. The growth of tungsten carbide button market in the region can be attributed to a well-established industrial base. This region is growing fast to become the epicenter of tungsten carbide materials, making the region an inevitable player in the supply as well as on the consumer side. With governmental organizations putting in relentless efforts to make a mark with tungsten carbide, new companies along with well-established names are setting their centers in this region due to favorable policies. In 2017, China accounted for a market revenue share of 27.64% globally.

China is the highest revenue generating country in APAC, followed by Japan. Advanced industrial advancements, investments for dedicated R&D facilities and development of tungsten carbide-based products are some of the primary drivers that are driving the market in the region. Due to the large-scale tungsten reserve in China and technological advancements for the production of tungsten carbide, the tungsten carbide button market is expected to grow at a robust growth rate in the country. Tungsten carbide button is emerging as an indispensable part of the conventional manufacturing, and the big players in the market are enchasing upon the opportunity to enhance their global market share.

The dominant strategy adopted by the tungsten carbide manufacturers is to expand their product portfolio by launching new innovative and competitive products. For instance, on 3rd March 2018, CERATIZIT S.A. launched a high-performance carbide grades for the machining of difficult materials and on Sumitomo Electric Industries, Ltd. launched a coated carbide multidrill series.

This report is a meticulous compilation of research on more than 100 players in the tungsten carbide button market and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles approximately 15 companies.

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