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Tungsten Carbide Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global tungsten carbide market size reached US$ 18.16 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26.12 Billion by 2027, exhibiting a growth rate (CAGR) of 6.12% during 2022-2027.

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 level from 2022-2027. 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Grade, Application, Industry Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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?

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
    9.2    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
    9.3    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
    9.4    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
    9.5    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

List of Figures

Figure 1: Global: Tungsten Carbide Market: Major Drivers and Challenges
Figure 2: Global: Tungsten Carbide Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Tungsten Carbide Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Tungsten Carbide Market: Breakup by Grade (in %), 2021
Figure 5: Global: Tungsten Carbide Market: Breakup by Application (in %), 2021
Figure 6: Global: Tungsten Carbide Market: Breakup by Industry Vertical (in %), 2021
Figure 7: Global: Tungsten Carbide Market: Breakup by Region (in %), 2021
Figure 8: Global: Tungsten Carbide (General Purpose) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Tungsten Carbide (General Purpose) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Tungsten Carbide (Metal Forming and Wear) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Tungsten Carbide (Metal Forming and Wear) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Tungsten Carbide (Rotary Drilling and Mining) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Tungsten Carbide (Rotary Drilling and Mining) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Tungsten Carbide (Submicron) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Tungsten Carbide (Submicron) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Tungsten Carbide (Corrosion Resistant) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Tungsten Carbide (Corrosion Resistant) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Tungsten Carbide (Machine Tools and Components) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Tungsten Carbide (Machine Tools and Components) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Tungsten Carbide (Cutting Tools) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Tungsten Carbide (Cutting Tools) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Tungsten Carbide (Dies and Punches) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Tungsten Carbide (Dies and Punches) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Tungsten Carbide (Abrasive Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Tungsten Carbide (Abrasive Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Tungsten Carbide (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Tungsten Carbide (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Tungsten Carbide (Aerospace and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Tungsten Carbide (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Tungsten Carbide (Automotive) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Tungsten Carbide (Automotive) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Tungsten Carbide (Mining and Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Tungsten Carbide (Mining and Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Tungsten Carbide (Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Tungsten Carbide (Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Tungsten Carbide (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Tungsten Carbide (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: North America: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: North America: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: United States: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: United States: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Canada: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Canada: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Asia-Pacific: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Asia-Pacific: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: China: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: China: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Japan: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Japan: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: India: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: India: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: South Korea: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: South Korea: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Australia: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Australia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Indonesia: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Indonesia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Europe: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Europe: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Germany: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Germany: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: France: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: France: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: United Kingdom: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: United Kingdom: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Italy: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Italy: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Spain: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Spain: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Russia: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Russia: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Latin America: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Latin America: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Brazil: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Brazil: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Mexico: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Mexico: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Others: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Others: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Middle East and Africa: Tungsten Carbide Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Middle East and Africa: Tungsten Carbide Market: Breakup by Country (in %), 2021
Figure 86: Middle East and Africa: Tungsten Carbide Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Tungsten Carbide Market Forecast: Breakup by Grade (in Million US$), 2022-2027
Table 3: Global: Tungsten Carbide Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Tungsten Carbide Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027
Table 5: Global: Tungsten Carbide Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Tungsten Carbide Market: Competitive Structure
Table 7: Global: Tungsten Carbide Market: Key Players


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