Tungsten Carbide Market Research Report- Forecast till 2027

Global tungsten carbide market research: information by grade type (general purpose grade, metal forming and wear grades, others), by end-user industry (automobiles, mining and construction, oil and gas, defense, and others) – Forecast till 2027

ID: MRFR/CnM/3945-HCR | February 2021 | Region: Global | 137 pages

Please note that the assessment period of report has been updated from 2017-2023 to 2020-2027. Cordially fill the sample form for updated data.

Synopsis of Tungsten carbide Market


Tungsten carbide is a chemical compound containing both tungsten and carbon atoms in equal parts. Tungsten carbide is generally a grey powder in its basic form but has the ability to be pressed and formed into different shapes depending upon its use in the end user industries. The properties such as high tensile strength, durability and abrasion resistance finds its application in many end user industries. Moreover, the advantages coupled with its cost effectiveness makes them suitable and its major applications includes automobiles, mining & construction, oil & gas, defense, and electrical & electronics among others.


The growth of tungsten carbide market can be attributed to its growing consumption in the applications such as machine & cutting tool components, dies & punches, abrasive products and others. The growing industrialization, and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years. The global market of tungsten carbide is a lucrative one and it is expected to expand at an encouraging CAGR during the forecast years. The excellent durability, high tensile strength, and corrosion & abrasion resistance of tungsten carbide makes it ideal to be used in mining & construction and automobile which is a major factor driving the market positively.


Among the various grade segments in tungsten carbide market, the rotary & mining is the leading segment of the market and is anticipated to continue its dominance over the forecast period. This growth is attributed to the increased demand rotary and mining grade due to its excellent properties such as tensile strength, excellent impact strength, stiffness and among others. They are extensively used in production of mining and machinery components such as inserts, nozzles, rods, buttons, sheets and others. Among the end user industry, mining and construction is expected to be the largest segment and is expected to grow at a considerable CAGR. The growing oil and gas activities coupled with the increase in government investment for the development of infrastructure throughout the globe are some of the factor contributing to the growth of the market.  


The Global tungsten carbide market share by end use industry.


 tungsten carbide market


Source: MRFR analysis


Regional Analysis:  


The tungsten carbide market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of tungsten carbide in the developing countries of Asia Pacific. Moreover, the favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific which in turn is fuelling the market growth. Furthermore, the presence of most populated countries such as India and China, has augmented the oil and gas related activities to meet its growing energy requirement which in turn significantly driving the demand for tungsten carbide in the oil and gas industry. China, India and Japan are the largest consumers of tungsten carbide in this region. North America is another dominant region in the market of tungsten carbide. The developed end user industries such as construction, transportation and electronics among others are significantly driving the market growth. Moreover, the new elected government has brought in a new wave of investment in development and renovation of residential and commercial infrastructure which is expected to boost the demand for tungsten carbide in the construction industry.


The European market is a lucrative market mainly driven by the developed electrical & electronics, construction and automobile sector. Moreover, the growing oil and gas activities coupled with the increasing infrastructural development are the major factor attributing to the growth of the market. In addition to this, the growing R&D activities in the automobile sector has further augmented the use of tungsten carbide owing to its ability to reduce dust and increase efficiency in the automobile systems.


Segmental Analysis:


The global tungsten carbide market is segmented into grade type and end user industry. On the basis of grade the market is segmented into general purpose grade, metal foaming and wear grades, submicron grades, rotary drilling and mining grades, and corrosion resistant grades. On the basis of end user industry the global tungsten carbide market is segmented into mining and construction, oil and gas, electrical and electronics, automobiles, defense and others.


Key Players:


Some of the prominent players operating in the Global tungsten carbide market are Sandvik AB (Sweden), Kennametal Inc. (U.S.), Ceratizit S.A. (Luxembourg), Extramet AG (Switzerland), Federal Carbide Company (U.S.), Guangdong Xianglu Tungsten Co., Ltd. (China), Nanchang Cemented Carbide Co., Ltd. (China), Jiangxi Yaosheng Tungsten Co., Ltd. (China), Japan New Metal Co., Ltd. (Japan), China Tungsten (Xiamen) and Eurotungstene (France), among others


Geographical Analysis:


The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.


Intended Audience:



  • Tungsten carbide   market manufacturers

  • Traders and Distributors of Tungsten carbide  market

  • Production Process Industries

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory 



Frequently Asked Questions (FAQ) :

The rotary & mining segment is leading the tungsten carbide market grade segment.

Mining and construction sectors are expected to lead the end user segment of the tungsten carbide market.

The Asia Pacific is the region to dominate the global tungsten carbide market in the coming years.

Companies like Kennametal Inc. (U.S.), Sandvik AB (Sweden), Extramet AG (Switzerland), Ceratizit S.A. (Luxembourg), Guangdong Xianglu Tungsten Co., Ltd. (China), Federal Carbide Company (U.S.), Jiangxi Yaosheng Tungsten Co., Ltd. (China), Nanchang Cemented Carbide Co., Ltd. (China), China Tungsten (Xiamen), Japan New Metal Co., Ltd. (Japan), and Eurotungstene (France), are expected to play dominating roles in the tungsten carbide market.

Increasing consumption of abrasive products dies & punches, machine & cutting tool components, and others across industries are going to inspire better growth for the tungsten carbide market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Tungsten carbide Market

5 Industry Overview of Global Tungsten carbide Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Tungsten carbide Market by Grade Type

7.1 Introduction

7.2 General purpose grade

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Metal foaming and wear grades

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Submicron grades

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Rotary drilling and mining grades

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

7.6 Corrosion resistant grades

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Tungsten carbide Market by End user industry

8.1 Introduction

8.2 Mining and Construction

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by Region, 2020-2027

8.3 Oil & gas

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Region, 2020-2027

8.4 Electrical and electronics

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Region, 2020-2027

8.5 Automobile

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Region, 2020-2027

8.6 Defense

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast by Region, 2020-2027

8.7 Others

8.7.1 Market Estimates & Forecast, 2020-2027

8.7.2 Market Estimates & Forecast by Region, 2020-2027

9. Global Tungsten carbide Market by Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.2.3 Market Estimates & Forecast by End user industry, 2020-2027

9.2.4 U.S.

9.2.4.1 Market Estimates & Forecast, 2020-2027

9.2.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.2.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.2.5 Mexico

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.2.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.2.6 Canada

9.2.6.1 Market Estimates & Forecast, 2020-2027

9.2.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.2.6.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.4 Germany

9.3.4.1 Market Estimates & Forecast, 2020-2027

9.3.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.5 France

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.6 Italy

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.6.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.7.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.8 U.K

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.8.3 Market Estimates & Forecast by End user industry, 2020-2027

9.3.9 Rest of Europe

9.3.9.1 Market Estimates & Forecast, 2020-2027

9.3.9.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.3.9.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.5 India

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.6 Japan

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.6.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.7 Australia

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.7.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.8 New Zealand

9.4.8.1 Market Estimates & Forecast, 2020-2027

9.4.8.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.8.3 Market Estimates & Forecast by End user industry, 2020-2027

9.4.9 Rest of Asia Pacific

9.4.9.1 Market Estimates & Forecast, 2020-2027

9.4.9.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.4.9.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5 The Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5.4 Turkey

9.5.4.1 Market Estimates & Forecast, 2020-2027

9.5.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5.5 Israel

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5.6 North Africa

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.6.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5.7 GCC

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.7.3 Market Estimates & Forecast by End user industry, 2020-2027

9.5.8 Rest of the The Middle East & Africa

9.5.8.1 Market Estimates & Forecast, 2020-2027

9.5.8.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.5.8.3 Market Estimates & Forecast by End user industry, 2020-2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020-2027

9.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.6.3 Market Estimates & Forecast by End user industry, 2020-2027

9.6.4 Brazil

9.6.4.1 Market Estimates & Forecast, 2020-2027

9.6.4.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.6.4.3 Market Estimates & Forecast by End user industry, 2020-2027

9.6.5 Argentina

9.6.5.1 Market Estimates & Forecast, 2020-2027

9.6.5.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.6.5.3 Market Estimates & Forecast by End user industry, 2020-2027

9.6.6 Rest of Latin America

9.6.6.1 Market Estimates & Forecast, 2020-2027

9.6.6.2 Market Estimates & Forecast by Grade Type, 2020-2027

9.6.6.3 Market Estimates & Forecast by End user industry, 2020-2027

10. Company Landscape

11. Company Profiles

11.1 Sandvik AB

11.1.1 Company Overview

11.1.2 Grade Type/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Kennametal Inc

11.2.1 Company Overview

11.2.2 Grade Type/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 Ceratizit S.A

11.3.1 Company Overview

11.3.2 Grade Type/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 Extramet AG

11.4.1 Company Overview

11.4.2 Grade Type/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 Federal Carbide Company

11.5.1 Company Overview

11.5.2 Grade Type/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 Guangdong Xianglu Tungsten Co., Ltd.

11.6.1 Company Overview

11.6.2 Grade Type/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 Nanchang Cemented Carbide Co., Ltd

11.7.1 Company Overview

11.7.2 Grade Type/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

11.8 Jiangxi Yaosheng Tungsten Co., Ltd

11.8.1 Company Overview

11.8.2 Grade Type/Business Segment Overview

11.8.3 Financial Updates

11.8.4 Key Developments

11.9 Japan New Metal Co., Ltd

11.9.1 Company Overview

11.9.2 Grade Type/Business Segment Overview

11.9.3 Financial Updates

11.9.4 Key Developments

11.10 China Tungsten

11.10.1 Company Overview

11.10.2 Grade Type/Business Segment Overview

11.10.3 Financial Updates

11.10.4 Key Developments

11.11 Eurotungstene

11.11.1 Company Overview

11.11.2 Grade Type/Business Segment Overview

11.11.3 Financial Updates

11.11.4 Key Developments

12 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2017 To 2030)

Table 2 Global Tungsten carbide Market: By Region, 2020-2027

Table 3 North America Tungsten carbide Market: By Country, 2020-2027

Table 4 Europe Tungsten carbide Market: By Country, 2020-2027

Table 5 Asia Pacific Tungsten carbide Market: By Country, 2020-2027

Table 6 The Middle East & Africa Tungsten carbide Market: By Country, 2020-2027

Table 7 Latin America Tungsten carbide Market: By Country, 2020-2027

Table 8 Global Tungsten carbide by Grade Type Market: By Regions, 2020-2027

Table 9 North America Tungsten carbide by Grade Type Market: By Country, 2020-2027

Table10 Europe Tungsten carbide by Grade Type Market: By Country, 2020-2027

Table11 Asia Pacific Tungsten carbide by Grade Type Market: By Country, 2020-2027

Table12 The Middle East & Africa Tungsten carbide by Grade Type Market: By Country, 2020-2027

Table13 Latin America Tungsten carbide by Grade Type Market: By Country, 2020-2027

Table14 Global Tungsten carbide by End user industry Market: By Regions, 2020-2027

Table15 North America Tungsten carbide by End user industry Market: By Country, 2020-2027

Table16 Europe Tungsten carbide by End user industry Market: By Country, 2020-2027

Table17 Asia Pacific Tungsten carbide by End user industry Market: By Country, 2020-2027

Table18 The Middle East & Africa Tungsten carbide by End user industry Market: By Country, 2020-2027

Table19 Latin America Tungsten carbide by End user industry Market: By Country, 2020-2027

Table20 Global Tungsten carbide by End user industry Market: By Regions, 2020-2027

Table21 Global Grade Type Market: By Region, 2020-2027

Table22 Global End user industry Market: By Region, 2020-2027

Table23 Global End-use Market: By Region, 2020-2027

Table24 North America Tungsten carbide Market, By Country

Table25 North America Tungsten carbide Market, By Grade Type

Table26 North America Tungsten carbide Market, By End user industry

Table27 North America Tungsten carbide Market, By End-use

Table28 Europe: Tungsten carbide Market, By Country

Table29 Europe: Tungsten carbide Market, By Grade Type

Table30 Europe: Tungsten carbide Market, By End user industry

Table31 Europe: Tungsten carbide Market, By End-use

Table32 Asia Pacific: Tungsten carbide Market, By Country

Table33 Asia Pacific: Tungsten carbide Market, By Grade Type

Table34 Asia Pacific: Tungsten carbide Market, By End user industry

Table35 Asia Pacific: Tungsten carbide Market, By End-use

Table36 The Middle East & Africa: Tungsten carbide Market, By Country

Table37 The Middle East & Africa Tungsten carbide Market, By Grade Type

Table38 The Middle East & Africa Tungsten carbide Market, By End user industry

Table39 The Middle East & Africa: Tungsten carbide Market, By End-use

Table41 Latin America: Tungsten carbide Market, By Country

Table42 Latin America Tungsten carbide Market, By Grade Type

Table43 Latin America Tungsten carbide Market, By End user industry

Table44 Latin America: Tungsten carbide Market, By End-use

LIST OF FIGURES

FIGURE 1 Global Tungsten carbide market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Tungsten carbide Market

FIGURE 4 Value Chain of Global Tungsten carbide Market

FIGURE 5 Share of Global Tungsten carbide Market in 2020, by country (in %)

FIGURE 6 Global Tungsten carbide Market, 2020-2027,

FIGURE 7 Sub segments of Grade Type

FIGURE 8 Global Tungsten carbide Market size by Grade Type, 2020

FIGURE 9 Share of Global Tungsten carbide Market by Grade Type, 2020-2027

FIGURE 10 Global Tungsten carbide Market size by End user industry, 2020

FIGURE 11 Share of Global Tungsten carbide Market by End user industry, 2020-2027