Tungsten Titanium Carbide: Introduction

  • Tungsten titanium carbide is primarily designed to handle huge amount of pressure in high pressure steam, air & water joints, hydraulic and pneumatic fittings, etc. Tungsten titanium carbide helps provide a permanent seal and sustain the joint efficiency under high vibration, pressure, and volatility in temperature.
  • Based on form, the global tungsten titanium carbide market can be bifurcated into liquid and cement. The liquid form is primarily utilized to seal threads and machined connections, thereby attaining close tolerance level in the machine. The cement form is used on rough or scored surfaces.

Growing demand from Industrial Sector to Drive Tungsten Titanium Carbide Market

  • Tungsten titanium carbide offers excellent sealing ability; hence it is primarily employed in energy generation, chemical processing, steel, and other (heavy equipment, pulp & paper, etc.) end-use industries. In these industries, tungsten titanium carbide aids in galling and thread wear, thereby enhancing the lifespan of the equipment used in the industrial sector.
  • Improvement in socio-economic conditions coupled with rising GDP and increase in investments in the industrial sector is projected to drive the demand for tungsten titanium carbide in the near future. These factors are expected to boost the consumption of tungsten titanium carbide due to its excellent ability of permanent sealing and joint efficiency.

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Impact of COVID-19 on Global Tungsten Titanium Carbide Market

  • COVID-19 have already shaken the economy in the first quarter of 2020, thereby affecting the activities primarily in the manufacturing sector including oil & gas, chemical, steel, aerospace, and automotive & transportation. Furthermore, numerous industrial product companies are facing challenging times due to stoppage in production activities, supply chain disruption, cost escalation, and the dislocation of workforce. This, in turn, has led to decreased production and consumption of tungsten titanium carbide. However, the industrial sector is improving and gaining pace, globally. Furthermore, according to recent data from the IMF, global growth is projected to increase to 3.3% in 2020 and is expected to increase by 3.4% in the year 2021. This, in turn, is expected to drive the demand for tungsten titanium carbide to seal high pressure carrying machinery and parts, in the near future.

Asia Pacific to Hold Prominent Share of Global Tungsten Titanium Carbide Market

  • In terms of region, the global tungsten titanium carbide market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific held a major share of the global tungsten titanium carbide market in 2019. Europe and North America are key regions, wherein majority of producers of tungsten titanium carbide are concentrated.
  • In Asia Pacific, China has significant presence of major chemical and polymer manufacturing companies. Additionally, the country is also home to major manufacturing companies for chemical and petrochemical products; hence, the demand for heavy equipment and machinery is high across the country. Thus, demand for tungsten titanium carbide in China is expected to increase due to its excellent sealing and joining ability.
  • Governmental initiatives such as “Make in India” across India have led a pathway for becoming the manufacturing hub for global giants including GE, Siemens, HTC, Toshiba, and Boeing, etc. These companies are in the process of establishing production plants in India. Furthermore, the cumulative Foreign Direct Investment (FDI) in the production sector in India during April 2000-March 2020, reached US$ 88.45 billion. All these factors are expected to offer opportunities for the tungsten titanium carbide market in India and subsequently, boost its demand between 2020 and 2030.
  • The market in Latin America and Middle East & Africa is expected to expand at a sluggish pace, as these regions rely on import of tungsten titanium carbide from developing nations. Furthermore, the cost of manufacturing tungsten titanium carbide in these regions is high due to a lack of availability of raw materials in the manufacture of tungsten titanium carbide.

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Key Players Operating in Global Market

  • The global tungsten titanium carbide market is highly consolidate in nature. Manufacturers across the globe are primarily engaged in marketing their product line to enhance product reach to end-consumers globally. Some of the key players operating in the global tungsten titanium carbide market include:
    • H.C. Starck GmbH
    • Nano Research Inc.

Global Tungsten Titanium Carbide Market: Research Scope

Global Tungsten Titanium Carbide Market, by Grade

  • C S Grade [(W,Ti) ratio is 50/50]
  • C HV Grade [(W,Ti) ratio is 50/50 and 70/30]

Global Tungsten Titanium Carbide Market, by End-use Industry

  • Oil & Gas
  • Industrial
    • Steel Industry
    • Energy Generation
    • Chemical
    • Others (heavy equipment, pulp & paper, etc)
  • Aerospace & Marine
  • Automotive & Transportation
  • Others (waste water treatment, etc.)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Tungsten Titanium Carbide Market

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