Market Demand and Competition Trends of Tungsten Carbide

Market demand trends
With the technological progress of petroleum, mining, automobile, machinery and other related industries, the upgrading of Chinese tungsten carbide market will be accelerated, and the general low-end product market will gradually shrink. Demand for solid carbide tools, ultra-fine grain size carbide and large special-shaped products continues to increase. Although the concentration for tungsten carbide industry is relatively low and the competition is relatively scattered, the specialized products of different manufacturers are quite different, and their bargaining power for downstream will depend on the product and demand. Chinese high-end manufacturing industry has entered a golden growth period, providing a good opportunity for it’s carbide industry. The stable development of the downstream market will help the future demand tungsten carbide inserts of the industry.
Market competition trends
From the current status, the future competition of tungsten carbide industry will still have a relatively fierce competition pattern in the future with the development of the industry and the expansion of downstream demand. Although the price of some products of relevant enterprises in Chinese carbide market is currently higher than that of foreign enterprises, the price-performance ratio of some products is slightly lower than that of some foreign enterprises, especially in terms of product service life. Chinese tungsten carbide still need continuous and in-depth research and development. The market competition trend should focus on improving the life of product tools, and under the same conditions, product quality and service life should be TNGG Insert given the top priority in development.

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