Market Overview:
The global tungsten carbide market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for tungsten carbide in various applications, such as manufacturing, mining, oil and gas, and others. Tungsten carbide is a hard material that is used for cutting and drilling purposes in various industries. It offers high resistance to wear and tear owing to its properties such as hardness, toughness, thermal stability, and corrosion resistance.
Product Definition:
A composite material made from tungsten and carbon, usually in the form of a powder or small particles. It is used to make cutting tools, wear-resistant parts, and other objects that must withstand high temperatures.
Coarse Grain WC:
Coarse grain wc is a type of tungsten carbide with very small grains. Coarse grain wc has higher density and larger particle size than fine grain tungsten carbide. The primary reason for the use of coarse grain wc is its ability to withstand high temperatures, thus making it suitable for usage in various industries such as automotive, aerospace & defense and heavy equipment manufacturing industries.
Fine Grain WC:
Fine grain wc is a very small particle size material that has high surface area and pore volume. Fine grain WC can be used as an additive to tungsten carbide or it can be used as a stand-alone product. The fine grain WC acts as an effective lubricant for the tungsten carbide cutting process, thus increasing the overall productivity of the plant.
Application Insights:
Manufacturing was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. Tungsten carbide is used as a hard material in manufacturing various products including knives, drill bits, saw blades, and other cutting tools for industries such as construction and forestry. The demand for tungsten carbide from manufacturing applications is expected to drive market growth over the coming years.
Tungsten carbide oil & gas industry emerged as a promising application sector with an estimated CAGR of XX% from 2018 to 2030 owing to its growing use in drilling activities across major regions globally. Drilling muds are primarily used for cementing operations during oil exploration activities wherein tungsten carbides are utilized along with silica sand as they provide good wear resistance while cutting through rock formations at relatively low cost when compared with steel cuttings or diamond wire stringers currently being employed by operators worldwide.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for a revenue share of over 57%. The region is expected to continue its dominance over the forecast period. This can be attributed to growing demand from end-use industries, such as manufacturing, oil and gas, construction, mining. In addition, rising investments by domestic players in this region are anticipated to drive industry growth. For instance; NITI Aayog (The National Advisory Council) has identified infrastructure development as one of its key focuses for promoting economic growth across India’s regions thus fueling product demand across Asia Pacific tungsten carbide market.
North America is projected to grow at a significant rate during the forecast period owing to increasing use of tungsten carbide in aerospace applications due to high temperature resistance properties offered by the product at high temperatures along with superior strength characteristics under extreme pressures.
Growth Factors:
- Increasing demand from the automotive and aerospace industries due to its properties of high hardness, wear resistance, and thermal stability.
- Growing demand for tungsten carbide in cutting tools as it offers superior wear resistance and toughness as compared to other materials such as steel and titanium alloys.
- Rising popularity of tungsten carbide composites in end-use applications owing to their excellent mechanical properties and thermal stability.
- Increasing use of tungsten carbide nanoparticles in various industrial applications due to their unique physicochemical properties such as high surface area, large pore volume, low density, etc.
- Growing investments by key players in R&D activities to develop new grades of tungsten carbide that can be used in a wider range of industrial applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Tungsten Carbide Market Research Report
By Type
Coarse Grain WC, Fine Grain WC
By Application
Manufacturing, Mining, Oil and Gas, Others
By Companies
Xiamen Tungsten, ZW, China Minmetals Corporation, GuangDong XiangLu Tungsten, JXTC, JIANGXI YAOSHENG, DMEGC, GTP, Buffalo Tungsten, ERAMET, Kennametal, READE, JAPAN NEW METALS, Lineage Alloys, American Elements
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Tungsten Carbide Market Report Segments:
The global Tungsten Carbide market is segmented on the basis of:
Types
Coarse Grain WC, Fine Grain WC
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Manufacturing, Mining, Oil and Gas, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Xiamen Tungsten
- ZW
- China Minmetals Corporation
- GuangDong XiangLu Tungsten
- JXTC
- JIANGXI YAOSHENG
- DMEGC
- GTP
- Buffalo Tungsten
- ERAMET
- Kennametal
- READE
- JAPAN NEW METALS
- Lineage Alloys
- American Elements
Highlights of The Tungsten Carbide Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Coarse Grain WC
- Fine Grain WC
- By Application:
- Manufacturing
- Mining
- Oil and Gas
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tungsten Carbide Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tungsten carbide is a very hard, brittle material that is used in many different applications. It can be found in things like knives and cutting tools, car parts, and even jewelry.
Some of the major players in the tungsten carbide market are Xiamen Tungsten, ZW, China Minmetals Corporation, GuangDong XiangLu Tungsten, JXTC, JIANGXI YAOSHENG, DMEGC, GTP, Buffalo Tungsten, ERAMET, Kennametal, READE, JAPAN NEW METALS, Lineage Alloys, American Elements.
The tungsten carbide market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tungsten Carbide Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Tungsten Carbide Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Tungsten Carbide Market - Supply Chain
4.5. Global Tungsten Carbide Market Forecast
4.5.1. Tungsten Carbide Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Tungsten Carbide Market Size (000 Units) and Y-o-Y Growth
4.5.3. Tungsten Carbide Market Absolute $ Opportunity
5. Global Tungsten Carbide Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Tungsten Carbide Market Size and Volume Forecast by Type
5.3.1. Coarse Grain WC
5.3.2. Fine Grain WC
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Tungsten Carbide Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Tungsten Carbide Market Size and Volume Forecast by Application
6.3.1. Manufacturing
6.3.2. Mining
6.3.3. Oil and Gas
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Tungsten Carbide Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Tungsten Carbide Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Tungsten Carbide Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Tungsten Carbide Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Tungsten Carbide Demand Share Forecast, 2019-2026
9. North America Tungsten Carbide Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Tungsten Carbide Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Tungsten Carbide Market Size and Volume Forecast by Application
9.4.1. Manufacturing
9.4.2. Mining
9.4.3. Oil and Gas
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Tungsten Carbide Market Size and Volume Forecast by Type
9.7.1. Coarse Grain WC
9.7.2. Fine Grain WC
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Tungsten Carbide Demand Share Forecast, 2019-2026
10. Latin America Tungsten Carbide Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Tungsten Carbide Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Tungsten Carbide Market Size and Volume Forecast by Application
10.4.1. Manufacturing
10.4.2. Mining
10.4.3. Oil and Gas
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Tungsten Carbide Market Size and Volume Forecast by Type
10.7.1. Coarse Grain WC
10.7.2. Fine Grain WC
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Tungsten Carbide Demand Share Forecast, 2019-2026
11. Europe Tungsten Carbide Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Tungsten Carbide Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Tungsten Carbide Market Size and Volume Forecast by Application
11.4.1. Manufacturing
11.4.2. Mining
11.4.3. Oil and Gas
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Tungsten Carbide Market Size and Volume Forecast by Type
11.7.1. Coarse Grain WC
11.7.2. Fine Grain WC
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Tungsten Carbide Demand Share, 2019-2026
12. Asia Pacific Tungsten Carbide Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Tungsten Carbide Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Tungsten Carbide Market Size and Volume Forecast by Application
12.4.1. Manufacturing
12.4.2. Mining
12.4.3. Oil and Gas
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Tungsten Carbide Market Size and Volume Forecast by Type
12.7.1. Coarse Grain WC
12.7.2. Fine Grain WC
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Tungsten Carbide Demand Share, 2019-2026
13. Middle East & Africa Tungsten Carbide Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Tungsten Carbide Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Tungsten Carbide Market Size and Volume Forecast by Application
13.4.1. Manufacturing
13.4.2. Mining
13.4.3. Oil and Gas
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Tungsten Carbide Market Size and Volume Forecast by Type
13.7.1. Coarse Grain WC
13.7.2. Fine Grain WC
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Tungsten Carbide Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Tungsten Carbide Market: Market Share Analysis
14.2. Tungsten Carbide Distributors and Customers
14.3. Tungsten Carbide Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Xiamen Tungsten
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ZW
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. China Minmetals Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. GuangDong XiangLu Tungsten
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. JXTC
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. JIANGXI YAOSHENG
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. DMEGC
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. GTP
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Buffalo Tungsten
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. ERAMET
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Kennametal
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. READE
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. JAPAN NEW METALS
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Lineage Alloys
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. American Elements
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
