Report Description

Global Tungsten Carbide Market By End-User (Automotive, Aerospace & Defense, Mining & Construction, Oil & Gas, Electronic and Others), By Application (Metal Cutting, Cemented Carbide, Industrial Alloys and Others), By Region, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 110
  • Industry : Chemicals

Global tungsten carbide market is projected to exhibit a CAGR of over 5% during the forecast period, on the back of growing research & development aimed towards technological developments and its superior properties such as hardness, toughness, and resistance to abrasion and impact. Tungsten carbide is one of the metal carbides produced by the reaction of tungsten hexachloride with methanol or methane. On account of tungsten carbide’s high resistivity to abrasion, it is extensively used in the manufacturing industries for cutting tools. However, tungsten carbide can decompose at higher temperatures and revert into its initial form, as tungsten and a carbide.

Tungsten carbide market has been segmented into end-user, application and region. Based on end-user, the market has been categorized into automotive, aerospace & defense, mining & construction, oil & gas, electronic and other industries. Of these, the automotive industry accounted for the largest market share in 2018, backed by extensive use of tungsten carbide in the automotive industry, wherein it is processed into high-performance mechanical parts. Based on application, the market has been bifurcated into metal cutting, cemented carbide, industrial alloys, mill products, jewelry, surgical tools and others (tipping trekking and ski poles). Of these sub-segments, metal cutting application led the tungsten carbide market in 2018, capturing nearly half of the market, as carbide tools maintain a sharp cutting edge which surpasses other steel tools to produce a better finish on parts.

Regionally, the market has been segmented into North America, South America, Europe, Asia-Pacific and the Middle East & Africa. China is expected to lead the Asia-Pacific tungsten carbide market during the forecast period, as the country has tungsten ores, substantial mining and production facilities and in-house abilities to manufacture cemented carbides.

Some of the key players operating in the market are Sandvik AB, IMC Group, Kennametal, Mitsubishi Materials Corporation, Sumitomo Corporation, Hitachi Metals, Ltd., Ceratizit S.A, China Minmetals Corporation, Xiamen Tungsten Co., Ltd and American Elements.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

  • To analyze and forecast global tungsten carbide market size.
  • To forecast global tungsten carbide market based on application, end-user and regional distribution.
  • To identify drivers and challenges for global tungsten carbide market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global tungsten carbide market.
  • To conduct the pricing analysis for tungsten carbide market.
  • To identify and analyze the profile of leading players involved in the manufacturing of tungsten carbide.

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Some of the leading players in global tungsten carbide market are Sandvik AB, IMC Group, Kennametal, Mitsubishi Materials Corporation, Sumitomo Corporation, Hitachi Metals, Ltd., Ceratizit S.A, China Minmetals Corporation, Xiamen Tungsten Co.,Ltd and American Elements.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in global tungsten carbide market.

TechSci Research calculated global tungsten carbide market size by using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Tungsten carbide manufacturers and suppliers
  • Government and other regulatory bodies
  • Research institutes and organizations
  • Associations, forums and organizations associated with tungsten carbide industry

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global tungsten carbide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Market, by End-User:
    • Automotive  
    • Aerospace & Defense  
    • Mining & Construction  
    • Oil & Gas  
    • Electronic  
    • Others
  • Market, by Application:
    • Metal Cutting
    • Cemented Carbide
    • Industrial alloys
    • Mill Products
    • Jewelry
    • Surgical Tools
    • Others (Tipping Trekking, Ski Poles)
  • Market, by Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • South Korea
      • Australia
      • Indonesia
    • Europe
      • United Kingdom
      • Italy
      • France
      • Germany
      • Russia
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Iran

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global tungsten carbide market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

In case you don’t find what you are looking for, please get in touch with our custom research team at

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