Tungsten Carbide Powder Market
Tungsten Carbide Powder Market Analysis By Application (Mining Tools & Components, Cutting Tools, Dies & Punching & Abrasive Products) By End-Use & By Region – Global Market Insights 2022 to 2032
Analysis of Tungsten Carbide Powder market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Tungsten Carbide Powder Market Outlook (2022 to 2032)
Global tungsten carbide powder market stands at a valuation of US$ 19.97 billion. Detailed industry analysis reveals that worldwide consumption of tungsten carbide powder is predicted to increase at a CAGR of 6% over the next ten years with the market reaching US$ 35.64 billion by the end of 2032.
| Report Attributes | Details |
|---|---|
| Tungsten Carbide Powder Market Size (2022) | US$ 19.97 Billion |
| Projected Year Value (2032F) | US$ 35.64 Billion |
| Global Market Growth Rate (2022 to 2032) | 6% CAGR |
| North America Market Value (2022) | US$ 6.66 Billion |
| Mining & Construction Segment Value (2022) | US$ 4.84 Billion |
| Key Companies Profiled | Kennametal Inc.; Extramet; Sandvik AB; Guangdong Xianglu Tungsten Co. Ltd.; Federal Carbide Company; Ceratizit S.A.; Japan New Metal Co. Ltd.; China Tungsten Online (Xiamen) Manu. & Sales Corp.; Nanchang Cemented Carbide Co. Ltd.; Jiangxi Yaosheng Tungsten Co. Ltd.; Eurotungstene |
Increasing demand for manufacturing tools in various end-use industries is expected to boost tungsten carbide powder suppliers’ revenue generation. Rising demand for industrial machinery is expected to propel the consumption of corrosion-resistant tungsten carbide powder over the coming years.
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Tungsten Carbide Powder Demand Analysis (2017 to 2021) Vs. Market Growth Forecasts (2022 to 2032)
Increasing demand for machine tools for cutting, drilling, etc., is expected to significantly shape sales of tungsten carbide powder. Industrialization picked up the pace on a global scale and is expected to prominently drive the tungsten carbide powder market potential over the coming years.
Demand for tungsten carbide powder rose at a CAGR of 4.9% from 2017 to 2021 and ended up with a net worth of US$ 19.12 billion in 2021.
Increasing demand from construction and mining industries owing to high infrastructural development across the world is also expected to provide lucrative opportunities for tungsten carbide powder manufacturers. The rising scope of application in 3D printing will also guide demand for tungsten carbide powder throughout the forecast period.
Increasing use of corrosion-resistant, ready-to-press carbide powder in the healthcare industry for manufacturing surgical instruments is also expected to favor tungsten carbide market growth.
Rising popularity of characteristic features of tungsten carbide powder such as extreme strength, high thermal conductivity, etc., is expected to favor tungsten carbide powder consumption growth over the years to come.
From 2021 to 2032, tungsten carbide powder demand is anticipated to progress at a CAGR of 6%.
What is Majorly Driving Consumption of Tungsten Carbide Powder?
“Rising Investments in Infrastructure Development Fueled by Urbanization Driving Market Expansion”
Emerging economies of the world are seeing a substantial increase in urbanization and industrialization which is expected to have a positive impact on shipments of tungsten carbide powder.
Governments of these economies are investing in big infrastructural projects to advance their development and hence are increasing the scope of application for tungsten carbide powder in construction and mining industries specifically.
Tungsten carbide cobalt powder, tungsten titanium carbide powder, tungsten carbide welding powder, and other tungsten carbide products are expected to witness a steady rise in demand from developing economies.
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What Hurdles Do Tungsten Carbide Powder Suppliers Have to Encounter?
“High Product Cost and Harmful Effects on Health & Environment”
High costs and oversupply from certain nations are expected to have a constraining effect on the global demand for tungsten carbide powder.
Also, the detrimental effects of submicron tungsten carbide powder on human health after prolonged exposure and its harmful effects on the environment are expected to further dent the tungsten carbide powder market growth curve over the coming years.
What is the Regional Outlook for Tungsten Carbide Powder Consumption?
“Asia Pacific & North America Leading Tungsten Carbide Powder Demand”
The North America tungsten carbide powder market currently stands at US$ 6.66 billion and is projected to reach an approximate value of US$ 12.22 billion by the end of 2032 while registering a CAGR of 6.3% across the forecast period.
Increasing investments in the construction sector and rising demand for industrial machinery are predicted to majorly influence the tungsten carbide powder market potential in this region.
The Asia Pacific tungsten carbide powder market is anticipated to exhibit highly lucrative opportunities for tungsten carbide powder suppliers over the coming years. Increasing demand for better wear protection in multiple industries in this region is expected to propel the demand for fused tungsten carbide powder.
Rising use of spherical tungsten carbide powder in the metal manufacturing sector in this region will further bolster the tungsten carbide market potential in this region. Tungsten carbide powder shipments in this region are projected to rise at a CAGR of 6.6% through 2032.
Europe is also anticipated to be a significant market for tungsten carbide powder vendors owing to increasing industrialization in this region.
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Country-wise Insights
Why Should Tungsten Carbide Powder Suppliers Focus on China?
“High Construction & Mining Activity in China”
China is a highly lucrative market for tungsten carbide powder manufacturers owing to increasing investments in infrastructure development and favorable government policies. In China, the demand for tungsten carbide powder is anticipated to rise at a CAGR of 6.6% throughout the forecast period and is projected to account for a revenue total of US$ 4.46 billion by 2032.
Owing to high industrial activity demand for ready-to-press tungsten carbide powder, tungsten titanium carbide powder, tungsten carbide hard facing powder, corrosion-resistant ready-to-press tungsten carbide powder is expected to see a steady increase through 2032 in China.
However, the oversupply of tungsten carbide powder in some parts of China and the slowdown of manufacturing activities in the nation during the COVID-19 pandemic are expected to adversely affect market growth.
Category-wise Insights
Which End-use Sectors Drive Most Demand for Tungsten Carbide Powder?
“Highest Demand for Tungsten Carbide Powder from Construction & Mining Sectors”
The mining and construction segment is expected to account for a major revenue share in the global tungsten carbide powder market. This segment is expected to rise at a CAGR of 7.3% over the forecast period and will account for a net revenue total of US$ 9.78 billion by the end of 2032.
Increasing investments in infrastructure development by governments across the world and rising urbanization are expected to bolster the growth of this segment as far as tungsten carbide powder consumption is concerned, and also drive demand for tungsten carbide band saw blades in parallel.
Demand for tungsten carbide thermal spray powder, tungsten titanium carbide powder, spherical tungsten carbide powder, and tungsten carbide welding powder is expected to be high from the mining and construction end-use segment.
Competitive Landscape
Tungsten carbide powder manufacturers are deploying various organic and inorganic strategies to increase their market presence on a global scale, especially after the setback that the COVID-19 pandemic provided.
The tungsten carbide powder market is partially fragmented in nature and is expected to offer lucrative opportunities for new entrants as well as established market players over the years ahead.
Key Segments Covered in Tungsten Carbide Powder Industry Research
-
Tungsten Carbide Powder Market by Application :
- Mining Tools & Components
- Cutting Tools
- Dies & Punching
- Abrasive Products
- Other Applications
-
Tungsten Carbide Powder Market by End Use :
- Tungsten Carbide Powder for Mining & Tungsten Carbide Powder for Construction
- Industrial Engineering
- Transportation
- Oil & Gas
- Aerospace & Defense
- Other End Uses
-
Tungsten Carbide Powder Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application
- 9.1. Mining Tools & Components
- 9.2. Cutting Tools
- 9.3. Dies & Punching
- 9.4. Abrasive Products
- 9.5. Other Applications
- 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use
- 10.1. Mining & Construction
- 10.2. Industrial Engineering
- 10.3. Transportation
- 10.4. Oil & Gas
- 10.5. Aerospace & Defense
- 10.6. Other End Uses
- 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 17. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 19. Key and Emerging Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Kennametal Inc.
- 21.2. Extramet
- 21.3. Sandvik AB
- 21.4. Guangdong Xianglu Tungsten Co. Ltd.
- 21.5. Federal Carbide Company
- 21.6. Ceratizit S.A.
- 21.7. Japan New Metal Co. Ltd.
- 21.8. China Tungsten Online (Xiamen) Manu. & Sales Corp.
- 21.9. Nanchang Cemented Carbide Co. Ltd.
- 21.10. Jiangxi Yaosheng Tungsten Co. Ltd.
- 21.11. Eurotungstene
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 08: Latin America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 11: Europe Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 14: South Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 17: East Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 20: Oceania Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2017 to 2021
Figure 02: Global Market Volume Forecast (in 000' Units), 2022 to 2032
Figure 03: Pricing Analysis (US$) Per Application, By Region, 2021
Figure 04: Pricing Analysis (US$) Per Application, By Region, 2021
Figure 05: Global Market Value Analysis (US$ Mn), 2017 to 2021
Figure 06: Global Market Value Forecast (US$ Mn), 2022 to 2032
Figure 07: Global Market Absolute $ Opportunity, 2022 to 2032
Figure 08: Global Market Share Analysis (%), By Application, 2022 to 2032
Figure 09: Global Market Y-o-Y Analysis (%), By Application, 2022 to 2032
Figure 10: Global Market Attractiveness Analysis by Application, 2022 to 2032
Figure 11: Global Market Share Analysis (%), By End Use, 2022 to 2032
Figure 12: Global Market Y-o-Y Analysis (%), By End Use, 2022 to 2032
Figure 13: Global Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 14: Global Market Share Analysis (%), By Region, 2022 to 2032
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2022 to 2032
Figure 16: Global Market Attractiveness Analysis by Region, 2022 to 2032
Figure 17: North America Market Value Share, By Application, 2022 (E)
Figure 18: North America Market Value Share, By End Use, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 21: North America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 25: Latin America Market Value Share, By Application, 2022 (E)
Figure 26: Latin America Market Value Share, By End Use, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 29: Latin America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 31: Latin America Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 32: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 33: Europe Market Value Share, By Application, 2022 (E)
Figure 34: Europe Market Value Share, By End Use, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2017 to 2021
Figure 37: Europe Market Value Forecast (US$ Mn), 2022 to 2032
Figure 38: Europe Market Attractiveness Analysis by Application, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: South Asia Market Value Share, By Application, 2022 (E)
Figure 42: South Asia Market Value Share, By End Use, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 45: South Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 46: South Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 47: South Asia Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 48: South Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 49: East Asia Market Value Share, By Application, 2022 (E)
Figure 50: East Asia Market Value Share, By End Use, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 53: East Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 54: East Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 55: East Asia Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 56: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 57: Oceania Market Value Share, By Application, 2022 (E)
Figure 58: Oceania Market Value Share, By End Use, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2017 to 2021
Figure 61: Oceania Market Value Forecast (US$ Mn), 2022 to 2032
Figure 62: Oceania Market Attractiveness Analysis by Application, 2022 to 2032
Figure 63: Oceania Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 64: Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 65: Middle East and Africa Market Value Share, By Application, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By End Use, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2017 to 2021
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2022 to 2032
Figure 70: Middle East and Africa Market Attractiveness Analysis by Application, 2022 to 2032
Figure 71: Middle East and Africa Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2022 to 2032
Figure 73: U. S. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 74: U. S. Market Value Share, By Application, 2022 (E)
Figure 75: U. S. Market Value Share, By End Use, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2022 & 2032
Figure 77: Canada Market Value Share, By Application, 2022 (E)
Figure 78: Canada Market Value Share, By End Use, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2022 & 2032
Figure 80: Mexico Market Value Share, By Application, 2022 (E)
Figure 81: Mexico Market Value Share, By End Use, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2022 & 2032
Figure 83: Brazil Market Value Share, By Application, 2022 (E)
Figure 84: Brazil Market Value Share, By End Use, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 86: U. K. Market Value Share, By Application, 2022 (E)
Figure 87: U. K. Market Value Share, By End Use, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2022 & 2032
Figure 89: Germany Market Value Share, By Application, 2022 (E)
Figure 90: Germany Market Value Share, By End Use, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2022 & 2032
Figure 92: France Market Value Share, By Application, 2022 (E)
Figure 93: France Market Value Share, By End Use, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2022 & 2032
Figure 95: Italy Market Value Share, By Application, 2022 (E)
Figure 96: Italy Market Value Share, By End Use, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2022 & 2032
Figure 98: Spain Market Value Share, By Application, 2022 (E)
Figure 99: Spain Market Value Share, By End Use, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 101: Russia Market Value Share, By Application, 2022 (E)
Figure 102: Russia Market Value Share, By End Use, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2022 & 2032
Figure 104: China Market Value Share, By Application, 2022 (E)
Figure 105: China Market Value Share, By End Use, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2022 & 2032
Figure 107: Japan Market Value Share, By Application, 2022 (E)
Figure 108: Japan Market Value Share, By End Use, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2022 & 2032
Figure 110: South Korea Market Value Share, By Application, 2022 (E)
Figure 111: South Korea Market Value Share, By End Use, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2022 & 2032
Figure 113: India Market Value Share, By Application, 2022 (E)
Figure 114: India Market Value Share, By End Use, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2022 & 2032
Figure 116: ASEAN Market Value Share, By Application, 2022 (E)
Figure 117: ASEAN Market Value Share, By End Use, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 119: Australia Market Value Share, By Application, 2022 (E)
Figure 120: Australia Market Value Share, By End Use, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2022 & 2032
Figure 122: New Zealand Market Value Share, By Application, 2022 (E)
Figure 123: New Zealand Market Value Share, By End Use, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2022 & 2032
Figure 125: GCC Countries Market Value Share, By Application, 2022 (E)
Figure 126: GCC Countries Market Value Share, By End Use, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2022 & 2032
Figure 128: Turkey Market Value Share, By Application, 2022 (E)
Figure 129: Turkey Market Value Share, By End Use, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2022 & 2032
Figure 131: South Africa Market Value Share, By Application, 2022 (E)
Figure 132: South Africa Market Value Share, By End Use, 2022 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the tungsten carbide powder market value in 2022?
Currently, the global tungsten carbide powder market is worth US$ 19.97 billion.
How big will the tungsten carbide powder market be by 2032?
By 2032, the tungsten carbide powder market is projected to reach a valuation of US$ 35.64 billion.
At what CAGR is the market predicted to progress over the forecast period?
Consumption of tungsten carbide powder is predicted to increase at a CAGR of 6% from 2022 to 2032.
How is the demand for tungsten carbide powder shaping up in China?
The China tungsten carbide powder market is expected to progress at a CAGR of 6.6% and end up with a value of US$ 4.46 billion by 2032.
How will the mining & construction segment perform through 2032?
The mining and construction end-use segment is anticipated to expand at a CAGR of 7.3% and account for US$ 9.78 billion by 2032.
Which key tungsten carbide powder suppliers are profiled in this research?
Key tungsten carbide powder manufacturers are Kennametal Inc., Extramet, Sandvik AB, Guangdong Xianglu Tungsten Co. Ltd., Federal Carbide Company, Ceratizit S.A., Japan New Metal Co. Ltd., and China Tungsten Online (Xiamen) Manu. & Sales Corp.
Tungsten Carbide Powder Market