텅스텐 카바이드 시장 : 제품 유형별, 용도별, 최종 이용 산업별, 지역별

The Global Tungsten Carbide Market is estimated to be valued at USD 17.54 Bn in 2025 and is expected to reach USD 24.45 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2025 to 2032.

Figure. Tungsten Carbide Market Share (%), By Region, 2025

The global tungsten carbide market is estimated to grow at a significant rate owing to the increasing demand for cemented carbide or hard metals across various end-use industries like aerospace, automotive, mining, oil & gas, and heavy machinery. Tungsten carbide is a chemical compound consisting of tungsten and carbon that exhibits high hardness, thermal conductivity, abrasion resistance, and stability at high temperatures making it suitable for application in wear-resistant products, cutting tools, abrasive products, dies & punches, and other metal forming components. The unique set of properties has positioned tungsten carbide as a preferred choice over other materials and is expected to drive its demand over the coming years.

Market Dynamics:

The global tungsten carbide market is driven by factors such as growing demand from the automotive industry for application in machining of engine components and hardware parts. Tungsten carbide tools offer superior wear resistance, rigidity, and higher machining speeds as compared to other materials. Additionally, rising demand for metal forming tools from the aerospace and defense industry also spurs the market growth. However, volatile prices of tungsten and concerns regarding substitution with newer materials hamper the market expansion. On the other hand, implementation of innovative manufacturing techniques and development of nano-grain cemented carbides are expected to provide significant opportunities in the forthcoming years.

Key Features of the Study:

This report provides in-depth analysis of the global tungsten carbide market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global tungsten carbide market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Kennametal Inc., Sandvik AB, Mitsubishi Materials Corporation, Walter AG, Secotools AB, GWS Tool Group, Houghton International Inc., E. Dold & Sohne KG, Zhuzhou Cemented Carbide Group Co., Ltd., Advanced Tooling Inc., Carbide USA, KWS Manufacturing Company Ltd., Tungaloy Corporation, and Nanchang Cemented Carbide Group Co., Ltd.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global tungsten carbide market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global tungsten carbide market

Market Segmentation

• Product Type Insights (Revenue, USD Bn, 2020 - 2032)
  • Tungsten Carbide Powder
  • Tungsten Carbide Tooling
  • Tungsten Carbide Wear Parts
  • Others
• Application Insights (Revenue, USD Bn, 2020 - 2032)
  • Cemented carbide
  • Coatings
  • Alloys
• End-use Industry Insights (Revenue, USD Bn, 2020 - 2032)
  • Aerospace & Defense
  • Automotive
  • Mining & Construction
  • Electronics
  • Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
  • U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
  • Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
  • Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
  • Africa
  • South Africa
  • North Africa
  • Central Africa
• Key Players Insights
  • Kennametal Inc.
  • Sandvik AB
  • Mitsubishi Materials Corporation
  • Walter AG
  • Secotools AB
  • GWS Tool Group
  • Houghton International Inc.
  • Dold & Sohne KG
  • Zhuzhou Cemented Carbide Group Co., Ltd.
  • Advanced Tooling Inc.
  • Carbide USA
  • KWS Manufacturing Company Ltd.
  • Tungaloy Corporation
  • Nanchang Cemented Carbide Group Co., Ltd.

Table of Contents

1. Research Objectives and Assumptions

• Research Objectives
• Assumptions
• Abbreviations

2. Market Purview

• Report Description
  • Market Definition and Scope
• Executive Summary
  • Global Tungsten Carbide Market, By Product Type
  • Global Tungsten Carbide Market, By Application
  • Global Tungsten Carbide Market, By End-use Industry
  • Global Tungsten Carbide Market, By Region

3. Market Dynamics, Regulations, and Trends Analysis

• Market Dynamics
• Impact Analysis
• Key Highlights
• Regulatory Scenario
• Product Launches/Approvals
• PEST Analysis
• PORTER's Analysis
• Market Opportunities
• Regulatory Scenario
• Key Developments
• Industry Trends

4. Global Tungsten Carbide Market, By Product Type, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Tungsten Carbide Powder
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Tungsten Carbide Tooling
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Tungsten Carbide Wear Parts
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Others
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

5. Global Tungsten Carbide Market, By Application, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Cemented carbide
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Coatings
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Alloys
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

6. Global Tungsten Carbide Market, By End-use Industry, 2020-2032, (USD Bn)

• Introduction
  • Market Share Analysis, 2025 and 2032 (%)
  • Y-o-Y Growth Analysis, 2021 - 2032
  • Segment Trends
• Aerospace & Defense
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Automotive
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Mining & Construction
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Electronics
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
• Others
  • Introduction
  • Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)

7. Global Tungsten Carbide Market, By Region, 2020 - 2032, Value (USD Bn)

• Introduction
  • Market Share (%) Analysis, 2025, 2028 & 2032, Value (USD Bn)
  • Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
  • Regional Trends
• North America
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • U.S.
    • Canada
• Latin America
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
• Europe
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
• Asia Pacific
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
• Middle East
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
    • GCC Countries
    • Israel
    • Rest of Middle East
• Africa
  • Introduction
  • Market Size and Forecast, By Product Type, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By End-use Industry, 2020 - 2032, Value (USD Bn)
  • Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
    • South Africa
    • North Africa
    • Central Africa

8. Competitive Landscape

• Kennametal Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Sandvik AB
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Mitsubishi Materials Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Walter AG
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Secotools AB
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• GWS Tool Group
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Houghton International Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Dold & Sohne KG
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Zhuzhou Cemented Carbide Group Co., Ltd.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Advanced Tooling Inc.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Carbide USA
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• KWS Manufacturing Company Ltd.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Tungaloy Corporation
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies
• Nanchang Cemented Carbide Group Co., Ltd.
  • Company Highlights
  • Product Portfolio
  • Key Developments
  • Financial Performance
  • Strategies

9. Analyst Recommendations

• Wheel of Fortune
• Analyst View
• Coherent Opportunity Map

10. References and Research Methodology

• References
• Research Methodology
• About us