The global tungsten carbide tool market is expected to grow at a CAGR of 4.5% during the forecast period, to reach USD 1.2 billion by 2030. The growth of this market can be attributed to the increasing demand for tungsten carbide tools in various applications such as cutting, chamfering, drilling, engraving and grooving. Tungsten carbide tools are used in various industries such as automotive, aerospace and defense, construction and mining machinery manufacturing among others.
Steegegrade Carbides segment accounted for the largest share of the global tungsten carbide tool market in 2017 owing to its high hardness level which makes it suitable for heavy duty applications such as drilling and cutting operations. Casiron Carbides segment is expected to grow at a higher CAGR during the forecast period due to its low cost compared with steegrade carbides which makes it suitable for light duty applications such as engraving or grooving operations where high hardness is not required.
Some Of The Growth Factors Of This Market:
- Tungsten carbide is a very hard material and can be used to make cutting tools that are resistant to wear and tear.
- Tungsten carbide is also resistant to corrosion, which makes it an ideal material for use in the oil industry where it can be used in drilling equipment without being damaged by the corrosive environment.
- The high cost of tungsten carbide has limited its use in many industries, but as prices have fallen due to increased production, more companies are using tungsten carbide for their cutting tools because of its durability and resistance to wear and tear.
- The demand for tungsten carbide has been increasing as more countries adopt Western standards of living.
- As the world's population increases, there will be an increase in demand for food which will require more agricultural machinery.
Industry Growth Insights published a new data on “Tungsten Carbide Tool Market”. The research report is titled “Tungsten Carbide Tool Market research by Types (Steel-grade Carbides, Cast-iron Carbides), By Applications (Cutting, Chamfering, Drilling, Engraving, Grooving, Other), By Players/Companies Mitsubishi Materials Corporation, Rock River Tool, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool, Tunco Manufacturing, Ingersoll Cutting Tool Company, Best Carbide Cutting Tools, Vora Industries, CERATIZIT, SGS Tool, Sandvic”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Tungsten Carbide Tool Market Research Report
By Type
Steel-grade Carbides, Cast-iron Carbides
By Application
Cutting, Chamfering, Drilling, Engraving, Grooving, Other
By Companies
Mitsubishi Materials Corporation, Rock River Tool, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool, Tunco Manufacturing, Ingersoll Cutting Tool Company, Best Carbide Cutting Tools, Vora Industries, CERATIZIT, SGS Tool, Sandvic
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Tungsten Carbide Tool Market Report Segments:
The global Tungsten Carbide Tool market is segmented on the basis of:
Types
Steel-grade Carbides, Cast-iron Carbides
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
Cutting, Chamfering, Drilling, Engraving, Grooving, Other
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:
- Mitsubishi Materials Corporation
- Rock River Tool
- Advent Tool & Manufacturing
- PROMAX Tools
- Garr Tool
- Tunco Manufacturing
- Ingersoll Cutting Tool Company
- Best Carbide Cutting Tools
- Vora Industries
- CERATIZIT
- SGS Tool
- Sandvic
Highlights of The Tungsten Carbide Tool 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:
- Steel-grade Carbides
- Cast-iron Carbides
- By Application:
- Cutting
- Chamfering
- Drilling
- Engraving
- Grooving
- Other
- 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 Tool 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.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
- Product & Brand 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 tools are made from tungsten and carbon, which makes them extremely hard. They can be used for a variety of tasks, such as cutting and grinding.
Some of the major players in the tungsten carbide tool market are Mitsubishi Materials Corporation, Rock River Tool, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool, Tunco Manufacturing, Ingersoll Cutting Tool Company, Best Carbide Cutting Tools, Vora Industries, CERATIZIT, SGS Tool, Sandvic.
The tungsten carbide tool market is expected to register a CAGR of 4.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tungsten Carbide Tool 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 Tool 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 Tool Market - Supply Chain
4.5. Global Tungsten Carbide Tool Market Forecast
4.5.1. Tungsten Carbide Tool Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Tungsten Carbide Tool Market Size (000 Units) and Y-o-Y Growth
4.5.3. Tungsten Carbide Tool Market Absolute $ Opportunity
5. Global Tungsten Carbide Tool 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 Tool Market Size and Volume Forecast by Type
5.3.1. Steel-grade Carbides
5.3.2. Cast-iron Carbides
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Tungsten Carbide Tool 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 Tool Market Size and Volume Forecast by Application
6.3.1. Cutting
6.3.2. Chamfering
6.3.3. Drilling
6.3.4. Engraving
6.3.5. Grooving
6.3.6. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Tungsten Carbide Tool 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 Tool 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 Tool 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 Tool 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 Tool Demand Share Forecast, 2019-2026
9. North America Tungsten Carbide Tool 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 Tool 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 Tool Market Size and Volume Forecast by Application
9.4.1. Cutting
9.4.2. Chamfering
9.4.3. Drilling
9.4.4. Engraving
9.4.5. Grooving
9.4.6. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Tungsten Carbide Tool Market Size and Volume Forecast by Type
9.7.1. Steel-grade Carbides
9.7.2. Cast-iron Carbides
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 Tool Demand Share Forecast, 2019-2026
10. Latin America Tungsten Carbide Tool 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 Tool 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 Tool Market Size and Volume Forecast by Application
10.4.1. Cutting
10.4.2. Chamfering
10.4.3. Drilling
10.4.4. Engraving
10.4.5. Grooving
10.4.6. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Tungsten Carbide Tool Market Size and Volume Forecast by Type
10.7.1. Steel-grade Carbides
10.7.2. Cast-iron Carbides
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 Tool Demand Share Forecast, 2019-2026
11. Europe Tungsten Carbide Tool 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 Tool 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 Tool Market Size and Volume Forecast by Application
11.4.1. Cutting
11.4.2. Chamfering
11.4.3. Drilling
11.4.4. Engraving
11.4.5. Grooving
11.4.6. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Tungsten Carbide Tool Market Size and Volume Forecast by Type
11.7.1. Steel-grade Carbides
11.7.2. Cast-iron Carbides
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y rowth 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 Tool Demand Share, 2019-2026
12. Asia Pacific Tungsten Carbide Tool 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 Tool 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 Tool Market Size and Volume Forecast by Application
12.4.1. Cutting
12.4.2. Chamfering
12.4.3. Drilling
12.4.4. Engraving
12.4.5. Grooving
12.4.6. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Tungsten Carbide Tool Market Size and Volume Forecast by Type
12.7.1. Steel-grade Carbides
12.7.2. Cast-iron Carbides
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 Tool Demand Share, 2019-2026
13. Middle East & Africa Tungsten Carbide Tool 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 Tool 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 Tool Market Size and Volume Forecast by Application
13.4.1. Cutting
13.4.2. Chamfering
13.4.3. Drilling
13.4.4. Engraving
13.4.5. Grooving
13.4.6. Other
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 Tool Market Size and Volume Forecast by Type
13.7.1. Steel-grade Carbides
13.7.2. Cast-iron Carbides
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 Tool Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Tungsten Carbide Tool Market: Market Share Analysis
14.2. Tungsten Carbide Tool Distributors and Customers
14.3. Tungsten Carbide Tool Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Mitsubishi Materials Corporation
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Rock River Tool
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Advent Tool & Manufacturing
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. PROMAX Tools
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Garr Tool
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Tunco Manufacturing
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Ingersoll Cutting Tool Company
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Best Carbide Cutting Tools
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Vora Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. CERATIZIT
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. SGS Tool
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Sandvic
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
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
