Tungsten Carbide Materials Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: ERAMET (ERA: EPA), Kennametal (KMT: NYSE)

Registering a CAGR of 5.5% over the forecast period, the market value of Global Tungsten Carbide Materials is expected to reach US$ 28700 million in the year 2027.

Tungsten Carbide Materials Market Overview

Tungsten carbide is an alloy that has hardness properties more than titanium. The material is heat resistant, scratch-free, and rust-free made of tungsten and carbide mixed in equivalent proportions. It can be cut and molded into any shape exactly. This alloy becomes beneficial due to the fact of its scrap is recyclable. The properties of tungsten carbide, such as strength, durability, and abrasion resistance, make it an ideal material to be used in the automotive, oil & gas, mining, and construction industries. Also, the market is witnessing extreme progress due to increase in manufacturing activities. In all the applications of tungsten carbide, rotary and mining have witnessed improved demand in the market.Tungsten carbide powder sized from 1-10 micron witnessed improved demand as it is an ideal option for making cutting machinery, mining tools, and abrasive equipment. Tungsten carbide used in 3D printing has also led to the progress of its value in the market. Cutting tools have the highest value in the market, which led to growth in use of tungsten carbide to manufacture tools for the automotive and construction sectors.The oil & gas industry is the main user of tungsten carbide as it can be used in exploration & production of gas. Cemented carbide tools are used to manufacture glass bottles, aluminum cans, steel & copper wire, and plastic tubes. They have distinct properties such as high tensile strength, resistance toward abrasion, compressive strength, and resistance toward high-temperature. The cemented carbide market is anticipated to witness increasing due to the growing demand from various applications.

Industry News and Updates

In February 2020, Jenmar established XCAL Industries. It produces tungsten carbide blanks. The company wanted to expand its product offerings of tungsten carbide blanks and cutting tools aimed at the tunneling and mining sectors in North America.

What are the major Applications, Types, and Regions for the Global Tungsten Carbide Materials Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Coarse Grain WC


• Fine Grain WC

By Application, it is segmented into

• Manufacturing


• Mining


• Oil and Gas


• Others

Global Tungsten Carbide Materials Market Regional Analysis

The rapid growth of industries and urbanization is fueling the growth of tungsten carbide in Asia Pacific developing countries. Furthermore, favorable government regulation in the region has enticed many industry players to enter the lucrative Asia Pacific market, which is fueling the market growth. Furthermore, the presence of the world's most populous countries, such as India and China, has increased the oil and gas-related activities to meet its growing energy demand, which has significantly increased the demand for tungsten carbide in the oil and gas industry. In this region, China, India, and Japan are the largest consumers of tungsten carbide. North America is another important market for tungsten carbide. Construction, transportation, and electronics, among other developed end user industries, are significantly driving the market growth.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Global Tungsten Carbide Materials Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Global Tungsten Carbide Materials Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Global Tungsten Carbide Materials Market report scope?

Key Takeaways from this Global Tungsten Carbide Materials Report

• Evaluate Global Tungsten Carbide Materials market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Global Tungsten Carbide Materials market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Tungsten Carbide Materials Market is studied from 2017 - 2027.

What is the growth rate of the Tungsten Carbide Materials Market?

The Global Tungsten Carbide Materials Market is growing at a CAGR of 5.5% over the next 5 years.

Who are the key players in Tungsten Carbide Materials Market?

Xiamen Tungsten, Zhangyuan Tungsten, China Minmetals Corporation, GuangDong XiangLu Tungsten, JXTC, JIANGXI YAOSHENG, DMEGC, GTP, Buffalo Tungsten, ERAMET, Kennametal, READE, JAPAN NEW METALS, Lineage Alloys, American Elements

What regions does this Tungsten Carbide Materials Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Tungsten Carbide Materials Market?

Coarse Grain WC, Fine Grain WC

What are the major end-use applications of Global Tungsten Carbide Materials Market?

Manufacturing, Mining, Oil and Gas, Others



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