Tungsten carbide is a chemical compound containing both tungsten and carbon atoms in equal parts. Tungsten carbide is generally a grey powder in its basic form but has the ability to be pressed and formed into different shapes depending upon its use in the end user industries.
The growth of tungsten carbide market can be attributed to its growing consumption in the applications such as machine & cutting tool components, dies & punches, abrasive products and others.
The growing industrialization, and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years.
W Resources PLC (LON:WRES) is building a European mining company focussed on delivering long term production of tungsten, a key strategic metal with strong market fundamentals.