info@marketresearchfuture.com 📞 +1 628 258 0071(US)  📞 +44 2035 002 764(UK)
Tungsten Carbide Powder Market Research Report - Global Forecast till 2030

Tungsten Carbide Powder Market: Information by Grade (Rotary Drilling & Mining, Metal Forming, Wear, Submicron, and Others), Application (Machine Tools, Cutting Tools, Dies and Punches, and Others), End-Use Industry (Building & Construction, Oil & Gas, Automotive, Mining, Aerospace & Defense, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/4525-HCR | February 2021 | Region: Global | 100 pages

Tungsten Carbide Powder Market Speak to Analyst Request a Free Sample

Tungsten Carbide Powder Market Overview


The Tungsten Carbide powder Market has projected to meet at USD 16.78 billion for the year 2030, and further, it has aimed to reach a CAGR of over 5.2% for the forecast 2021-2030.


Tungsten carbide powder is the combination of a chemical compound that includes carbide and atoms of tungsten. It has a unique procedure, where it is produced in a hydrogen atmosphere at temperatures between 1300-1600C, including the high purity carbon and tungsten powder. In the production of tungsten carbide powder, the conventional process has been used, which is called carburization. It has unique properties like strong electrical and thermal conductivity, hardness, high modulus of elasticity, and tungsten carbide powder that is have more application in various industries like aerospace & defense, oil & gas, automotive, building & construction mining.


Along with that, the rapid industrialization in many parts of the Asia-Pacific region is also projected to enhance the Tungsten Carbide Powder Market Growth for the forecast period. Moreover, the North American market has generated the second-largest Tungsten Carbide Powder Market Value for the year 2018, and further, it has aimed to meet the higher market value for the forecast period. This region is growing the global market demand due to the regional growth of the drilling operations and intervention activities. Here, these activities require high abrasion as well as wear resistance drilling and mining tools that are helpful in the work process.


According to the Tungsten Carbide Powder Market Analysis report, the global market is thriving with the continuous demands of the intended audiences over the various products of Tungsten Carbide Powder. These important intended audiences are tungsten carbide powder manufacturers, research and development institutes, distributors and traders of tungsten carbide powder, nationalized laboratories, raw material suppliers, and potential investors.  These intended audiences are increasing the product demands across various regions of the world, which is propelling the growth of the Tungsten Carbide Powder Market for the forecast period.


COVID-19 Impact Analysis


The global COVID-19 pandemic has disrupted the overall growth of the global Tungsten Carbide Powder Market for the first half of the year 2020. In this period, the global market has faced huge losses as the pandemic has disrupted their sales and production. Even various countries' governments have imposed restricted rules where transportation, workforce, productivity has been impacted. Along with that, many investors have hesitated to invest in this market, which led to a reduction in the investors.


However, the Tungsten Carbide Powder Market Forecast report has mentioned that the global players have adopted new strategies and ideas to enhance the growth of the global market. The present scenario aims to meet its Tungsten Carbide Powder Market value for the forecast period.


Market Overview



  • Major Drivers of the Market


The growing hard-wearing machinery tools demand for the purpose of drilling, cutting, and mining are driving the growth of the global Tungsten Carbide powder Market. Moreover, the global market is growing its growth due to the increasing automotive industries and building & construction industries across several regions. Hence, the Tungsten Carbide Powder Market Analysis report has explained that the increasing automotive industries and building & construction industries are predicted to increase the tungsten carbide powder materials demand for the forecast period.


In 2016, the International Tungsten Industry Association (ITIA) report mentioned that China had offered over 80% of the global tungsten consumption with 1.9 million tons of the entire global reserve.



  • Opportunity for the Global Market


The Tungsten Carbide Powder Market Trends is propelling its growth because of its tungsten carbide stability at high temperatures. The anti-tank shells are considered the best alternative for depleted uranium, bringing more opportunities for the global market.


Along with that, the tungsten carbide has the resistant power to breakage and fracture. So, it is extensively used as a laser melting process for metals printing in the 3D printing process. This can be the major growth opportunity for the global Tungsten Carbide Powder Market for the research period.



  • Market Restraints


The global Tungsten Carbide Powder Market might face major restraints due to slowdown in the Chinese manufacturing sector and the oversupply of the tungsten market in the various parts of china.


However, the Tungsten Carbide Powder Market Forecast report has explained that these market restraints can be avoided by adopting various marketing strategies.



  • Market Growth Challenges


The global Tungsten Carbide Powder Market might face challenges due to the slowdown in the Chinese manufacturing sector.


Another major challenge for the global Tungsten Carbide Powder Market can be the ongoing pandemic as it is unpredictable, it can bring various challenges to the global market.



  • Cumulative Growth Analysis


The global Tungsten Carbide Powder Market has shown its cumulative growth in the present forecast period. If looking into the previous year's reports, it is showing continuous growth for various reasons.


Moreover, the global Tungsten Carbide Powder Market is engaging various key players and manufacturers to the global market to generate the high Tungsten Carbide Powder Market Value for the forecast period.


Market Segmental Overview



  • By application:


Based on the application segment, the global Tungsten Carbide Powder Market has been classified into dies and punches, machine tools, cutting tools, and others.


Among these, the machine tools & components application segment has registered to generate the largest Tungsten Carbide Powder Market Size for the year 2016.



  • By Grade:


On the basis of grade segment, the global Tungsten Carbide Powder Market has been segmented into metal forming, rotary drilling & mining, submicron, wear, and others.


Among these, the rotary drilling & mining grade segment has been projected to generate the largest Tungsten Carbide Powder Market Growth for the year 2016.



  • By end-use industry:


On the basis of the end-use industry segment, the global Tungsten Carbide Powder Market has been segmented into oil & gas, building & construction, automotive, aerospace & defense, mining, and others.


Among these, the automotive industries and building & construction industries are generating higher Tungsten Carbide Powder Market Growth for the forecast period.


Regional Analysis


The global Tungsten Carbide Powder Market is very popular among the significant five regions: North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America.


Out of these, the Asia-Pacific market has registered to generate the largest Tungsten Carbide Powder Market Share for the year 2018, and further, it has projected to lead the global market for the research period. This region is growing because of various reasons. The counties like china are considered as the largest supplier of tungsten that is offering raw material is very cheap and easy access, which is driving the growth of the global Tungsten Carbide Powder Market. Moreover, another reason for the growth of this market in the region is the increasing building and construction industries requiring tungsten carbide powder, which is highly utilized in the industries' machinery.


Competitive Landscape Analysis


The global Tungsten Carbide Powder Market Trends with the important players of the global market. These important key players are:



  • Kennametal Inc (US),

  • Sandvik AB (Sweden),

  • Federal Carbide Company (US),

  • CERATIZIT S.A. (Luxembourg),

  • Nanchang Cemented Carbide Co., Ltd (China),

  • ChinaTungsten (China),

  • C. Starck GmbH (US),

  • Reade International Corp., (US),

  • Merck KGaA (Germany),

  • GuangDong XiangLu Tungsten Co., Ltd (China),

  • Japan New Metals Co., Ltd (Japan),

  • Umicore (Belgium),

  • Chongyi ZhangYuan Tungsten Co., Ltd (China).


These important global key players are focusing on the challenges and restraints to the global market so that they can improve the gap and generate the higher Tungsten Carbide Powder Market Share for the forecast period.


Recent Developments



  • In December 2014, Grasche (USA) and Ceratizit S.A. did a partnership for the company's product distribution with better offers, especially for the market of North America.


Report Overview


The present Tungsten Carbide Powder Market Outlook report has explained the recent growth of the global market product across various regions. In this report, the primary and secondary methods have been used to get a brief view of the global market. Additionally, the report has involved a brief analysis of qualitative and quantitative data. This analysis clarifies the increasing growth of the global market by showing the recent developments and competitive analysis of the global Tungsten Carbide Powder Market in various regions of the world.


The Tungsten Carbide Powder Market Outlook report has highlighted the present market size, market value, and market share to understand the present growth of the global market.


Segmental Table:


By application:



  • Dies and punches,

  • Machine tools,

  • Cutting tools,

  • Others


By Grade:



  • Metal forming,

  • Rotary drilling & mining,

  • Submicron,

  • Wear,

  • Others


By end-use industry:



  • Oil & gas,

  • Building & construction,

  • Automotive,

  • Aerospace & defense,

  • Mining,

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 16.78 billion
  CAGR   5.2% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units    Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   grade, application, end-use industry, and region
  Geographies Covered   Asia-Pacific, the Middle East & Africa, North America, Europe, and Latin America.
  Key Vendors   Sandvik AB (Sweden), Kennametal Inc (US), CERATIZIT S.A. (Luxembourg), Federal Carbide Company (US), GuangDong XiangLu Tungsten Co., Ltd (China), Nanchang Cemented Carbide Co., Ltd (China), Japan New Metals Co., Ltd (Japan), Umicore (Belgium), ChinaTungsten (China), H.C. Starck GmbH (US), Reade International Corp., (US), Chongyi ZhangYuan Tungsten Co., Ltd (China), and Merck KGaA (Germany).
  Key Market Opportunities   The Tungsten Carbide Powder Market Trends is propelling its growth because of its tungsten carbide stability at high temperatures.
  Key Market Drivers   The growing hard-wearing machinery tools demand for the purpose of drilling, cutting, and mining are driving the growth


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

Tungsten Carbide Powder Market is predicted to grow at 5.2% through forecast period of 2021-2030.

The forecast period for Tungsten Carbide Powder Market research report is 2021-2030.

The Tungsten Carbide Powder Market has been segmented into applications, grades, and end-users industry.

Tungsten Carbide Powder Market is dominated by APAC region.

Sandvik AB (Sweden), Kennametal Inc (US), CERATIZIT S.A. (Luxembourg), Federal Carbide Company (US), GuangDong XiangLu Tungsten Co., Ltd (China), Nanchang Cemented Carbide Co., Ltd (China), Japan New Metals Co., Ltd (Japan), Umicore (Belgium), ChinaTungsten (China), H.C. Starck GmbH (US), Reade International Corp., (US), Chongyi ZhangYuan Tungsten Co., Ltd (China), and Merck KGaA (Germany).