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PUBLISHER: IMARC | PRODUCT CODE: 1541027
PUBLISHER: IMARC | PRODUCT CODE: 1541027
Tungsten Carbide Market Report by Grade, Application, Industry Vertical, and Region 2024-2032
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PAGES: 148 Pages
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The global tungsten carbide market size reached US$ 20.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 32.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.13% during 2024-2032.
Tungsten carbide (WC) is a dense, light gray, and metal-like inorganic chemical compound synthesized by heating tungsten with carbon black in the presence of hydrogen. It can be pressed and shaped into various geometries through the process of sintering. Tungsten carbide is widely used in industrial equipment, cutting tools, jewelry, abrasives, armor-piercing shells, alloys, coatings, and mill products. It is a highly durable material that offers increased strength, low electrical resistivity, high melting and boiling temperature, improved hardness, and resistance to abrasion, heat, scratch, and rust. As a result, tungsten carbide finds extensive applications across the aerospace and defense, automotive, mining and construction, electronics, sports, and medical industries.
Tungsten Carbide Market Trends:
The significant growth in the automotive industry is creating a positive outlook for the market. Tungsten carbide is widely used to produce high-performance auto parts that can withstand high stress and heat, such as ball joints, brakes, crankshafts, and studs for tires. In addition, the widespread product utilization to make cutting tools that are used to manufacture automotive engines, transmissions, axels, and steering assemblies is acting as another growth-inducing factor. Furthermore, increasing demand for tungsten carbide in the drilling and mining industry for producing drill bits, roller cutters, downhole hammers, and tunnel boring machines is providing a considerable boost to the market growth. Additionally, the rising product adoption in three-dimensional (3D) printing for creating efficient and cost-effective high-performance parts is facilitating the market growth. Moreover, widespread product utilization in the medical sector to produce surgical instruments, such as scissors, forceps, blade handles, hemostats, graspers, needle holders, and cautery, is providing an impetus to the market growth. Other factors, including increasing recycling of product scarp, rising incorporation of the compound in sports gear, and significant growth in the construction industry, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tungsten carbide market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on grade, application and industry vertical.
Breakup by Grade:
General Purpose
Metal Forming and Wear
Rotary Drilling and Mining
Submicron
Corrosion Resistant
Breakup by Application:
Machine Tools and Components
Cutting Tools
Dies and Punches
Abrasive Products
Others
Breakup by Industry Vertical:
Aerospace and Defense
Automotive
Mining and Construction
Electronics
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Elements, Ceratizit S.A (Plansee SE), Extramet AG, Federal Carbide Company, H.C. Starck Tungsten GmbH, Japan New Metal Co. Ltd., Jiangxi Yaosheng Tunsten Company Ltd., Kennametal Inc., Merck KGaA, OC Oerlikon Management AG, Reade International Corp., Sumitomo Electric Industries Ltd. and Umicore N.V.
Key Questions Answered in This Report:
- How has the global tungsten carbide market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global tungsten carbide market?
- What are the key regional markets?
- What is the breakup of the market based on the grade?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global tungsten carbide market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112024A6536
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Tungsten Carbide Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Grade
- 6.1 General Purpose
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Metal Forming and Wear
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Rotary Drilling and Mining
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Submicron
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Corrosion Resistant
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Application
- 7.1 Machine Tools and Components
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cutting Tools
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Dies and Punches
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Abrasive Products
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Industry Vertical
- 8.1 Aerospace and Defense
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Automotive
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Mining and Construction
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Electronics
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 American Elements
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Ceratizit S.A (Plansee SE)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Extramet AG
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Federal Carbide Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 H.C. Starck Tungsten GmbH
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Japan New Metal Co. Ltd.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Jiangxi Yaosheng Tunsten Company Ltd.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Kennametal Inc.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Merck KGaA
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 OC Oerlikon Management AG
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Reade International Corp.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Sumitomo Electric Industries Ltd.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.13 Umicore N.V.
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 Financials
- 14.3.13.4 SWOT Analysis
- 14.3.1 American Elements
Product Code: SR112024A6536
List of Figures
- Figure 1: Global: Tungsten Carbide Market: Major Drivers and Challenges
- Figure 2: Global: Tungsten Carbide Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Tungsten Carbide Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Tungsten Carbide Market: Breakup by Grade (in %), 2023
- Figure 5: Global: Tungsten Carbide Market: Breakup by Application (in %), 2023
- Figure 6: Global: Tungsten Carbide Market: Breakup by Industry Vertical (in %), 2023
- Figure 7: Global: Tungsten Carbide Market: Breakup by Region (in %), 2023
- Figure 8: Global: Tungsten Carbide (General Purpose) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Tungsten Carbide (General Purpose) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Tungsten Carbide (Metal Forming and Wear) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Tungsten Carbide (Metal Forming and Wear) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Tungsten Carbide (Rotary Drilling and Mining) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Tungsten Carbide (Rotary Drilling and Mining) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Tungsten Carbide (Submicron) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Tungsten Carbide (Submicron) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Tungsten Carbide (Corrosion Resistant) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Tungsten Carbide (Corrosion Resistant) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Tungsten Carbide (Machine Tools and Components) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Tungsten Carbide (Machine Tools and Components) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Tungsten Carbide (Cutting Tools) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Tungsten Carbide (Cutting Tools) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Tungsten Carbide (Dies and Punches) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Tungsten Carbide (Dies and Punches) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Tungsten Carbide (Abrasive Products) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Tungsten Carbide (Abrasive Products) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Tungsten Carbide (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Tungsten Carbide (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Tungsten Carbide (Aerospace and Defense) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Tungsten Carbide (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Tungsten Carbide (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Tungsten Carbide (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: Tungsten Carbide (Mining and Construction) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: Tungsten Carbide (Mining and Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Global: Tungsten Carbide (Electronics) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Global: Tungsten Carbide (Electronics) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Global: Tungsten Carbide (Other Industry Verticals) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Global: Tungsten Carbide (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: North America: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: North America: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: United States: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: United States: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Canada: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Canada: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: Asia-Pacific: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: Asia-Pacific: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: China: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: China: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Japan: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Japan: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: India: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: India: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: South Korea: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: South Korea: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Australia: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Australia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Indonesia: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Indonesia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Europe: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Europe: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Germany: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Germany: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: France: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: France: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: United Kingdom: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: United Kingdom: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Italy: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Italy: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Spain: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Spain: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Russia: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Russia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Latin America: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Latin America: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Brazil: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Brazil: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 80: Mexico: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 81: Mexico: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 82: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 83: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 84: Middle East and Africa: Tungsten Carbide Market: Sales Value (in Million US$), 2018 & 2023
- Figure 85: Middle East and Africa: Tungsten Carbide Market: Breakup by Country (in %), 2023
- Figure 86: Middle East and Africa: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 87: Global: Tungsten Carbide Industry: SWOT Analysis
- Figure 88: Global: Tungsten Carbide Industry: Value Chain Analysis
- Figure 89: Global: Tungsten Carbide Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Tungsten Carbide Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Tungsten Carbide Market Forecast: Breakup by Grade (in Million US$), 2024-2032
- Table 3: Global: Tungsten Carbide Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 4: Global: Tungsten Carbide Market Forecast: Breakup by Industry Vertical (in Million US$), 2024-2032
- Table 5: Global: Tungsten Carbide Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Tungsten Carbide Market: Competitive Structure
- Table 7: Global: Tungsten Carbide Market: Key Players
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