Global Tungsten Carbide Market Growth 2025-2031

Global Tungsten Carbide Market Growth 2025-2031

The global Tungsten Carbide market size is predicted to grow from US$ 1958 million in 2025 to US$ 2530 million in 2031; it is expected to grow at a CAGR of 4.4% from 2025 to 2031.

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%.

LP Information, Inc. (LPI) ' newest research report, the “Tungsten Carbide Industry Forecast” looks at past sales and reviews total world Tungsten Carbide sales in 2024, providing a comprehensive analysis by region and market sector of projected Tungsten Carbide sales for 2025 through 2031. With Tungsten Carbide sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Tungsten Carbide industry.

This Insight Report provides a comprehensive analysis of the global Tungsten Carbide landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Tungsten Carbide portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Tungsten Carbide market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Tungsten Carbide and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Tungsten Carbide.

This report presents a comprehensive overview, market shares, and growth opportunities of Tungsten Carbide market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Grain Sizes Up to 1 µm
Grain Sizes 1-10 µm
Grain Sizes Above 10 µm
Others

Segmentation by Application:
Machine Tools and Components
Cutting Tools
Dies and Punches
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Tungsten Carbide market?

What factors are driving Tungsten Carbide market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Tungsten Carbide market opportunities vary by end market size?

How does Tungsten Carbide break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.