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Global Tungsten Carbide Market Size study & Forecast, by Application (cemented carbide, metal cutting tools, wear part tools, mining & drilling tools, cutting tools, mill products, and others), End-User (aerospace & defense, automotive, oil & gas, mining & construction, electronics, and others), and Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: G874290D18E8EN
Bizwit Research & Consulting LLP

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Global Tungsten Carbide Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.50% over the forecast period 2023-2030. Tungsten carbide powder, comprising tungsten and carbide atoms, is a versatile compound adaptable to shaping into various forms. It finds application across industrial machinery, cutting tools, jewelry, abrasives, and more. Renowned for its exceptional strength, thermal resistance, and unmatched stiffness, tungsten carbide powder stands out as a formidable material in diverse industries. The market growth is driven by key factors such as increasing Applications of Tungsten Carbide in Various End-user Industries such as mining and automotive sector, and Rapid advancements in additive manufacturing.

Tungsten carbide powder is extensively employed across industrial sectors owing to its outstanding hardness, wear resistance, and strength. The surge in demand within automotive, aerospace, oil and gas, mining, and construction industries fuels the need for tungsten carbide powder, utilized in an array of applications such as tools, cutting inserts, wear parts, and other components. Consequently, the expanding utilization of tungsten carbide powder across diverse industrial domains serves as a catalyst propelling market growth. As per data from the Society of Indian Automobile Manufacturers (SIAM), India's automotive production totaled 22,933,230 units in the fiscal year 2021-22. The robust growth of the automotive sector, coupled with burgeoning production, is fueling the demand for tungsten carbide in metal cutting tool applications. Additionally, the United States Geological Survey (USGS) reports that U.S. mines yielded approximately US$ 90.4 billion worth of mineral commodities in 2021, marking a notable increase of US$ 9.7 billion from the previous year. This underscores the escalating utilization and demand for tungsten carbide in the mining sector, driving market growth and presenting significant opportunities within the global tungsten carbide industry. However, Toxicity of Tungsten carbide stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Tungsten Carbide Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia-Pacific region stands as leading region in global tungsten carbide industry and expected to be the fastest growing region in the forecast years. The demand for tungsten carbide in this region is driven by the escalating needs of key industries such as automotive, construction, and metalworking, particularly in countries like China, India, and Japan.

Major market player included in this report are:

Guangdong Xianglu Tungsten Co., Ltd.

American Elements

Buffalo Tungsten Inc.

CERATIZIT S.A.

China Tungsten

CY Carbide Mfg. Co., Ltd.

Extramet Products, LLC.

Federal Carbide Company

H.C. Starck Tungsten GmbH

Jiangxi Yaosheng Tungsten Co., Ltd.

Recent Developments in the Market:
  • September 2022: CERATIZIT S.A. unveiled its acquisition of all shares of AgriCarb SAS, a renowned global leader in tungsten carbide agricultural wear parts for over 35 years. This strategic move is poised to facilitate the company's foray into new markets, leveraging a wealth of added value and expertise in crafting hybrid tools from steel and tungsten carbide.
  • June 2022: The Center for Solar Energy and Hydrogen Research Baden-Wьrttemberg (ZSW), in collaboration with H.C. Starck Tungsten Powders, a subsidiary of the Masan High-Tech Materials Group, embarked on a joint endeavor to explore the application of tungsten-based cathode coatings in lithium-ion batteries. This partnership signifies a significant milestone in advancing the role of tungsten and similar elements in enhancing battery technology. Enhancing battery safety and performance stands as a pivotal element in facilitating broader adoption and utilization within the global electric vehicle (EV) initiative.
  • February 2022: CERATIZIT S.A. announced its acquisition of the remaining 50% shares of Stadler Mettale, thereby assuming full ownership of the company. Stadler Mettale stands as one of the key sources of secondary raw materials for producing tungsten and tungsten carbide powders. Consequently, CERATIZIT S.A. heavily relies on this company, underscoring its strategic significance.
Global Tungsten Carbide Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Application, End-use, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:

Cemented carbide

Coatings

Alloys

By End-use:

Aerospace & Defense

Automotive

Mining & Construction

Electronics

Others (Medical, Sports, etc.)

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Tungsten Carbide Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Tungsten Carbide Market, by Application, 2020-2030 (USD Billion)
  1.2.3. Tungsten Carbide Market, by End-user, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL TUNGSTEN CARBIDE MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL TUNGSTEN CARBIDE MARKET DYNAMICS

3.1. Tungsten Carbide Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing Applications of Tungsten Carbide in Various End-user Industries such as mining sector and automotive sector
    3.1.1.2. Rapid advancements in additive manufacturing
  3.1.2. Market Challenges
    3.1.2.1. Toxicity of Tungsten carbide
  3.1.3. Market Opportunities
    3.1.3.1. Expanding industrial and manufacturing sectors
    3.1.3.2. Strong demand in the mining and construction industries
    3.1.3.3. Rapid advancements in additive manufacturing

CHAPTER 4. GLOBAL TUNGSTEN CARBIDE MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL TUNGSTEN CARBIDE MARKET, BY APPLICATION

5.1. Market Snapshot
5.2. Global Tungsten Carbide Market by Application, Performance - Potential Analysis
5.3. Global Tungsten Carbide Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
5.4. Tungsten Carbide Market, Sub Segment Analysis
  5.4.1. Cemented carbide
  5.4.2. Coatings
  5.4.3. Alloys

CHAPTER 6. GLOBAL TUNGSTEN CARBIDE MARKET, BY END-USER

6.1. Market Snapshot
6.2. Global Tungsten Carbide Market by End-user, Performance - Potential Analysis
6.3. Global Tungsten Carbide Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
6.4. Tungsten Carbide Market, Sub Segment Analysis
  6.4.1. Aerospace & Defense
  6.4.2. Automotive
  6.4.3. Mining & Construction
  6.4.4. Electronics
  6.4.5. Others (Medical, Sports, etc.)

CHAPTER 7. GLOBAL TUNGSTEN CARBIDE MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Tungsten Carbide Market, Regional Market Snapshot
7.4. North America Tungsten Carbide Market
  7.4.1. U.S. Tungsten Carbide Market
    7.4.1.1. Application breakdown estimates & forecasts, 2020-2030
    7.4.1.2. End-user breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Tungsten Carbide Market
7.5. Europe Tungsten Carbide Market Snapshot
  7.5.1. U.K. Tungsten Carbide Market
  7.5.2. Germany Tungsten Carbide Market
  7.5.3. France Tungsten Carbide Market
  7.5.4. Spain Tungsten Carbide Market
  7.5.5. Italy Tungsten Carbide Market
  7.5.6. Rest of Europe Tungsten Carbide Market
7.6. Asia-Pacific Tungsten Carbide Market Snapshot
  7.6.1. China Tungsten Carbide Market
  7.6.2. India Tungsten Carbide Market
  7.6.3. Japan Tungsten Carbide Market
  7.6.4. Australia Tungsten Carbide Market
  7.6.5. South Korea Tungsten Carbide Market
  7.6.6. Rest of Asia Pacific Tungsten Carbide Market
7.7. Latin America Tungsten Carbide Market Snapshot
  7.7.1. Brazil Tungsten Carbide Market
  7.7.2. Mexico Tungsten Carbide Market
7.8. Middle East & Africa Tungsten Carbide Market
  7.8.1. Saudi Arabia Tungsten Carbide Market
  7.8.2. South Africa Tungsten Carbide Market
  7.8.3. Rest of Middle East & Africa Tungsten Carbide Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Guangdong Xianglu Tungsten Co., Ltd.
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. American Elements
  8.3.3. Buffalo Tungsten Inc.
  8.3.4. CERATIZIT S.A.
  8.3.5. China Tungsten
  8.3.6. CY Carbide Mfg. Co., Ltd.
  8.3.7. Extramet Products, LLC.
  8.3.8. Federal Carbide Company
  8.3.9. H.C. Starck Tungsten GmbH
  8.3.10. Jiangxi Yaosheng Tungsten Co., Ltd.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Tungsten Carbide Market, report scope
TABLE 2. Global Tungsten Carbide Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Tungsten Carbide Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 4. Global Tungsten Carbide Market estimates & forecasts by End-user 2020-2030 (USD Billion)
TABLE 5. Global Tungsten Carbide Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Tungsten Carbide Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Tungsten Carbide Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Tungsten Carbide Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Tungsten Carbide Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Tungsten Carbide Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Tungsten Carbide Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Tungsten Carbide Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Tungsten Carbide Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Tungsten Carbide Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Tungsten Carbide Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Tungsten Carbide Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Tungsten Carbide Market
TABLE 70. List of primary sources, used in the study of global Tungsten Carbide Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Tungsten Carbide Market, research methodology
FIG 2. Global Tungsten Carbide Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Tungsten Carbide Market, key trends 2022
FIG 5. Global Tungsten Carbide Market, growth prospects 2023-2030
FIG 6. Global Tungsten Carbide Market, porters 5 force model
FIG 7. Global Tungsten Carbide Market, pest analysis
FIG 8. Global Tungsten Carbide Market, value chain analysis
FIG 9. Global Tungsten Carbide Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Tungsten Carbide Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Tungsten Carbide Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Tungsten Carbide Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Tungsten Carbide Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Tungsten Carbide Market, regional snapshot 2020 & 2030
FIG 15. North America Tungsten Carbide Market 2020 & 2030 (USD Billion)
FIG 16. Europe Tungsten Carbide Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Tungsten Carbide Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Tungsten Carbide Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Tungsten Carbide Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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