Global Tungsten Carbide Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global Tungsten Carbide Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Tungsten Carbide market size was valued at US$ 1985 million in 2024 and is forecast to a readjusted size of USD 2622 million by 2031 with a CAGR of 4.1% during review period.

Tungsten is very stable element, as pure metal, tungsten has not only the highest melting point of all metals (3,422 °C) and the lowest degree of thermal expansion, but it is also very dense (19.3 g/cm³), has a high degree of mechanical strength and rigidity and very low vapor pressure. Meanwhile, it has excellent corrosion resistance, thermal conductivity and electric conductivity.

The major players in global Tungsten Carbide market include Sandvik, Xiamen Tungsten, China Minmetals Corporation, etc. The top 3 players occupy about 34% shares of the global market. Asia-Pacific and Europe are main markets, they occupy about 75% of the global market. Grain Sizes 1-10 µm is the main type, with a share about 45%. Machine Tools & Components is the main application, which holds a share about 30%.

This report is a detailed and comprehensive analysis for global Tungsten Carbide market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Tungsten Carbide market size and forecasts, in consumption value ($ Million), sales quantity (MT), and average selling prices (K US$/MT), 2020-2031

Global Tungsten Carbide market size and forecasts by region and country, in consumption value ($ Million), sales quantity (MT), and average selling prices (K US$/MT), 2020-2031

Global Tungsten Carbide market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (MT), and average selling prices (K US$/MT), 2020-2031

Global Tungsten Carbide market shares of main players, shipments in revenue ($ Million), sales quantity (MT), and ASP (K US$/MT), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Tungsten Carbide

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Tungsten Carbide market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Sandvik, Xiamen Tungsten, China Minmetals Corporation, Element Six, Jiangxi Yaosheng, GuangDong XiangLu Tungsten, Chongyi Zhangyyuan Tungsten, Plansee (GTP), JXTC, Japan New Metals, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Tungsten Carbide market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type

Grain Sizes Up to 1 µm

Grain Sizes 1-10 µm

Grain Sizes Above 10 µm

Others

Market segment by Application

Machine Tools and Components

Cutting Tools

Dies and Punches

Others

Major players covered

Sandvik

Xiamen Tungsten

China Minmetals Corporation

Element Six

Jiangxi Yaosheng

GuangDong XiangLu Tungsten

Chongyi Zhangyyuan Tungsten

Plansee (GTP)

JXTC

Japan New Metals

AST (India)

Kohsei Co Ltd

ALMT Corp

Kennametal

H.C.Starck

TaeguTec Ltd

Wolfram Company JSC (Russia)

Buffalo Tungsten

Eurotungstene

Lineage Alloys

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Tungsten Carbide product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Tungsten Carbide, with price, sales quantity, revenue, and global market share of Tungsten Carbide from 2020 to 2025.

Chapter 3, the Tungsten Carbide competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Tungsten Carbide breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Tungsten Carbide market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Tungsten Carbide.

Chapter 14 and 15, to describe Tungsten Carbide sales channel, distributors, customers, research findings and conclusion.