Global Tungsten Carbide Powder Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Grade;

Rotary Drilling & Mining Grades, Metal Forming & Wear Grades, Submicron Grades, Corrosion Resistant Grades, General Purpose Grades, and Others.

By Application;

Machine Tools & Components, Cutting Tools, Dies & Punches, Abrasive Products, and Others.

By End User;

Mining & Construction, Industrial Engineering, Transportation, Oil & Gas, Aerospace & Defense, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn182831887 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Tungsten Carbide Powder Market (USD Million), 2021 - 2031

In the year 2024, the Global Tungsten Carbide Powder Market was valued at USD 17,481.49 million. The size of this market is expected to increase to USD 24,434.70 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.9%.

The global tungsten carbide powder market has experienced significant growth, driven by the increasing demand for its superior hardness and durability across various industrial applications. Tungsten carbide, an extremely hard and dense material, is primarily used in manufacturing cutting tools, mining equipment, and wear-resistant parts. Its ability to withstand high temperatures and pressures makes it invaluable in industries such as aerospace, automotive, and oil and gas.

The market's expansion is fueled by advancements in technology and the rising need for efficient and long-lasting materials. Tungsten carbide powder is crucial for producing high-performance components that can operate under extreme conditions, thereby enhancing productivity and reducing operational costs. Additionally, the growing emphasis on precision engineering and manufacturing processes contributes to the market's positive trajectory.

The market is segmented into regions including North America, Europe, Asia-Pacific, and the Rest of the World. Each region presents unique opportunities and challenges, influenced by local industrial activities, economic conditions, and technological advancements. The Asia-Pacific region, in particular, is expected to witness robust growth due to rapid industrialization and infrastructural development.

The global tungsten carbide powder market is poised for continued growth, driven by ongoing innovations and the expanding applications of this versatile material.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Grade
    2. Market Snapshot, By Application
    3. Market Snapshot, By End User
    4. Market Snapshot, By Region
  4. Global Tungsten Carbide Powder Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Industrial Demand

        2. Mining Applications

        3. Automotive Industry

        4. Aerospace Growth

      2. Restraints
        1. High Costs

        2. Supply Chain Issues

        3. Environmental Concerns

        4. Substitute Materials

      3. Opportunities
        1. New Applications

        2. Product Innovation

        3. Increased Production Capacity

        4. Sustainability Initiatives

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Tungsten Carbide Powder Market, By Grade, 2021 - 2031 (USD Million)
      1. Rotary Drilling & Mining Grades
      2. Metal Forming & Wear Grades
      3. Submicron Grades
      4. Corrosion Resistant Grades
      5. General Purpose Grades
      6. Others
    2. Global Tungsten Carbide Powder Market, By Application, 2021 - 2031 (USD Million)
      1. Machine Tools & Components
      2. Cutting Tools
      3. Dies & Punches
      4. Abrasive Products
      5. Others
    3. Global Tungsten Carbide Powder Market, By End User, 2021 - 2031 (USD Million)
      1. Mining & Construction
      2. Industrial Engineering
      3. Transportation
      4. Oil & Gas
      5. Aerospace & Defense
      6. Others
    4. Global Tungsten Carbide Powder Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea ASEAN (Association of South East Asian Countries)
        6. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Sandvik AB
      2. Kennametal Inc.
      3. Ceratizit S.A.
      4. Extramet
      5. Federal Carbide Company
      6. Guangdong Xianglu Tungsten Co., Ltd.
      7. Nanchang Cemented Carbide Co., Ltd.
      8. Jiangxi Yaosheng Tungsten Co., Ltd.
      9. Japan New Metal Co., Ltd.
      10. China Tungsten Online (Xiamen) Manu. & Sales Corp.
      11. Eurotungstene
  7. Analyst Views
  8. Future Outlook of the Market