The document provides an overview and market analysis of the global tungsten carbide market from 2014 to 2024. It segments the market by region, end-use industry, and application. The analysis covers market size and forecasts, both historical and projected, as well as market share by segment. It also provides in-depth analyses of major countries and regions, including country-specific market sizes, shares, and forecasts.

1. MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
2014 – 2024
GLOBAL TUNGSTEN CARBIDE MARKET
FORECAST & OPPORTUNITIES

2. 2
Scope of Report
Product of Interest (POI): Tungsten Carbide
Review Period
2014 – 2017
Base Year
2018
Estimated Year
2019
Forecast Period
2020 – 2024
Year RangeTUNGSTEN CARBIDE
MARKET
END-USE INDUSTRY REGION
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
• Automotive
• Aerospace and Defense
• Mining and Construction
• Oil & Gas
• Electronics
• Others
The global tungsten carbide market is projected to grow at a robust CAGR during the forecast
period. The market is mainly driven by growing demand for tungsten carbide in various end
use industries such as automotive, aerospace & defense, mining, among others. Notably,
tungsten carbide is one of the metal carbides, which is produced by the reaction of tungsten
hexachloride with methanol or methane. On account of tungsten carbide’s high resistivity to
abrasion, it is extensively used in the manufacturing industries for cutting tools.
Market Segmentation
APPLICATION
• Cemented Carbide
• Industrial Alloys
• Mill Products
• Jewelry
• Surgical Tools
• Others

3. 3
Table of Contents
S. No. Contents Page No.
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors to be considered for product selection
4.2. Factors influencing purchase decision
4.3. Challenges/issues faced post purchase
5. Global Tungsten Carbide Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1.
By End-Use Industry (Automotive, Aerospace and Defense, Mining & Construction,
Oil & Gas, Electronics and Others)
5.2.2.
By Application (Cemented Carbide, Industrial Alloys, Mill Products, Jewelry,
Surgical Tools, Others)
5.2.5. By Company
5.2.6. By Region
5.3. Market Attractiveness Index
6. Asia-Pacific Tungsten Carbide Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast

4. 4
S. No. Contents Page No.
6.2.1. By End-Use Industry
6.2.2. By Application
6.2.3. By Country
6.3. Asia-Pacific: Country Analysis
6.3.1. China Tungsten Carbide Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value & Volume
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By End-Use Industry
6.3.1.2.2. By Application
6.3.2. India Tungsten Carbide Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value & Volume
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By End-Use Industry
6.3.2.2.2. By Application
6.3.3. Japan Tungsten Carbide Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value & Volume
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By End-Use Industry
Table of Contents

5. 5
S. No. Contents Page No.
6.3.3.2.2. By Application
6.3.4. South Korea Tungsten Carbide Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value & Volume
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By End-Use Industry
6.3.4.2.2. By Application
6.3.5. Australia Tungsten Carbide Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Value & Volume
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By End-Use Industry
6.3.5.2.2. By Application
7. Europe Tungsten Carbide Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By End-Use Industry
7.2.2 By Application
7.2.3. By Country
Table of Contents

6. 6
S. No. Contents Page No.
7.3. Europe: Country Analysis
7.3.1. France Tungsten Carbide Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value & Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By End-Use Industry
7.3.1.2.2. By Application
7.3.2. Germany Tungsten Carbide Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By End-Use Industry
7.3.2.2.2. By Application
7.3.3. United Kingdom Tungsten Carbide Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By End-Use Industry
7.3.3.2.2. By Application
7.3.4. Italy Tungsten Carbide Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value & Volume
7.3.4.2. Market Share & Forecast
Table of Contents

7. 7
S. No. Contents Page No.
7.4.4.2.1. By End-Use Industry
7.4.4.2.2. By Application
7.3.5. Spain Tungsten Carbide Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value & Volume
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By End-Use Industry
7.3.5.2.2. By Application
8. North America Tungsten Carbide Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By End-Use Industry
8.2.2 By Application
8.2.3. By Country
8.3. North America: Country Analysis
8.3.1. United States Tungsten Carbide Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.1.2.1. By End-Use Industry
8.3.1.2.2. By Application
Table of Contents

8. 8
S. No. Contents Page No.
8.3.2. Mexico Tungsten Carbide Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By End-Use Industry
8.3.2.2.2. By Application
8.3.3. Canada Tungsten Carbide Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By End-Use Industry
8.3.3.2.2. By Application
9. South America Tungsten Carbide Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By End-Use Industry
9.2.2 By Application
9.2.3. By Company
9.2.4. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Tungsten Carbide Market Outlook
9.3.1.1. Market Size & Forecast
Table of Contents

9. 9
S. No. Contents Page No.
9.3.1.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.1.2.1. By End-Use Industry
9.3.1.2.2. By Application
9.4.2. Argentina Tungsten Carbide Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value & Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By End-Use Industry
9.4.2.2.2. By Application
9.4.3. Colombia Tungsten Carbide Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value & Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By End-Use Industry
9.4.3.2.2. By Application
10. Middle East and Africa Tungsten Carbide Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By End-Use Industry
10.2.2 By Application
Table of Contents

10. 10
S. No. Contents Page No.
10.2.3. By Country
10.3. MEA: Country Analysis
10.3.1. South Africa Tungsten Carbide Market Outlook
10.3.1.1.
Market Size & Forecast
10.3.1.1.1. By Value & Volume
10.3.2.2.
Market Share & Forecast
10.3.2.2.1. By End-Use Industry
10.3.2.2.2. By Application
10.3.2. Saudi Arabia Tungsten Carbide Market Outlook
10.3.2.1.
Market Size & Forecast
10.3.2.1.1. By Value & Volume
10.3.2.2.
Market Share & Forecast
10.3.2.2.1. By End-Use Industry
10.3.2.2.2. By Application
10.3.3. UAE Tungsten Carbide Market Outlook
10.3.3.1.
Market Size & Forecast
10.3.3.1.1. By Value & Volume
10.3.3.2.
Market Share & Forecast
10.3.3.2.1. By End-Use Industry
10.3.3.2.2. By Application
Table of Contents

11. 11
S. No. Contents Page No.
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Price Point Analysis
14. Policy & Regulatory Landscape
15. Competitive Landscape
15.1. Competition Outlook
15.2. Company Profiles (Top 10)
16. Strategic Recommendations
17. About Us & Disclaimer
Table of Contents

12. RESEARCHMETHODOLOGY

13. 13
Research Methodology
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing List
of Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players in
the overall global tungsten
carbide market size and
segmental market size.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the global tungsten carbide
market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
Paid Sources
 Company Websites
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary
Research
Primary Research

14. 14
Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of global tungsten carbide market. The team has
market, while considering the major influencing factors such as growing demand for tungsten carbide in the manufacturing industries
forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in global
Methodology Followed for Calculation of Market Size:
• Market Size by Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as tungsten carbide
end users, industry experts, and other industry participants.
• The team interviewed more than 15 – 20 tungsten carbide companies, 45 – 50 channel partners, 80 – 100 end users, and 15 – 20
stakeholders in the global tungsten carbide market to obtain the overall market size from 2014 to 2018, which was validated by the
consideration, the market size was averaged out, to arrive at the market size data during 2014-2018.

15. 15
Research Methodology
• Respondents were asked about the current and future market growth rates, market shares by end-user industry, by application, by region and by company. Removing the outlier
responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares.
Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
Market shares by end-user industry, by application, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which
the respondents were asked about the market shares or revenue generated from various segments of tungsten carbide markets. The final shares were calculated by taking the
geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global tungsten carbide market , TechSci Research
used various forecast techniques such as:
 Moving Average
 Time Series Analysis
 Regression Analysis
 Econometric and Judgmental Analysis

16. 16
Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during
short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market
including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million.
Partial List of Companies Interviewed Key Secondary Sources
 Sandvik AB
 Kennametal
 Umicore
 Ceratizit SA
 Sumitomo Corporation
 Hitachi Metals Ltd.
 Mitsubishi Materials Corporation
 China Minmetals Corporation
 Xiamen Tungsten Co., Ltd
 American Elements
 World Bank
 TechSci Research Proprietary Database & Knowledge Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 News Dailies
 Credible Paid Databases

17. 17
INDUSTRY BRIEF
According to TechSci Research report, “Global Tungsten Carbide Market By End-User, By Application, By Region, Competition, Forecast &
Opportunities, 2024’’, the global tungsten carbide market is projected to grow at a CAGR of over 4.8% during the forecast period. The market is mainly
driven by increasing research & development activities to augment the growth in technology and superior properties compared to conventional materials.
Tungsten carbide (WC) is basically a chemical compound containing equal parts of tungsten and carbon atoms. In its most basic form, WC is a fine grey
powder, however it can be pressed and formed into shapes through the process of sintering for applications in industrial machinery, cutting tools, armour-
piercing rounds, among others. Notably, the market for tungsten carbide has been segmented into end-user, application and region. Based on application,
the market has been categorized as cemented carbide, industrial alloys, mill products, jewellery, surgical tools, others (Tipping Trekking, Ski Poles).
Notably, tungsten carbide is a popular material in jewellery manufacturing, on account of its high resistance to scratching and the hardness of the material) and
is expected to register fastest growth during forecast period. Cemented carbide application led the tungsten carbide market in 2018 holding a market share of
approximately 61% by value owing to the growing demand for metal cutting tools in machinery. Despite these positive attributes, the tungsten carbide market is
anticipated to be inhibited by its relatively high cost when compared to other metal carbides.
Based on end-user, the market has been segmented into automotive industry, aerospace and defense industry, mining and construction industry, oil & gas
industry, electronic industry and others. Among these, the automotive industry held the largest market share in 2018 and is anticipated to dominate the
market during the forecast period as well. The automotive industry dominated the market owing to its usage in manufacturing high performance mechanical
parts such as studs for tires.
Regionally, the Tungsten Carbide market has been segmented into North America, South America, Europe, Asia-Pacific and Middle East & Africa. Among these
regions, economies in the APAC region, particularly in India and China, are anticipated to play a substantial role in the growth of the market for tungsten carbide
during the forecast period. This is mainly due to the rising adoption of sustainable technology in production.
“China is the largest revenue generating country in the APAC region, followed by Japan. Advanced industrial advancements, investments for dedicated R&D
facilities and development of tungsten carbide-based products are few primary factors that are fueling the growth of the market in the region. Furthermore, on
account of the large-scale tungsten reserve in China and technological advancements to produce tungsten carbide. Tungsten carbide is emerging as a crucial
part of the traditional manufacturing, and the leading players in the market are encashing on the opportunity to augment their global market share.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

18. 18
SAMPLE DATA - SNAPSHOT
Global Tungsten Carbide Market Size, By Value, 2019E &
2024F (USD Million)
$XX
2024F
$XX
2019E
XX% CAGR
Million
Million
Company A
Company B
Company C
Company D
Others
Global Tungsten Carbide Market, By Share, By Company, By
Value, 2018
Germany Tungsten Carbide Market Share, By Application, By Value, 2014–2024F
16% 16% 16% 16% 16% 16% 16% 16% 16% 16% 16%
16% 16% 16% 16% 16% 16% 16% 16% 16% 16% 16%
16% 16% 16% 16% 16% 16% 16% 16% 16% 16% 16%
16% 16% 16% 16% 16% 16% 16% 16% 16% 16% 16%
16% 16% 16% 16% 16% 16% 16% 16% 16% 16% 16%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
2014 2015 2016 2017 2018 2019E 2020F 2021F 2022F 2023F 2024F
Cemented
Carbide
Others
Industrial Alloys
Mill Products
Jewelry
Surgical Tools

19. 19
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Report Name: GLOBAL TUNGSTEN CARBIDE MARKET
FORECAST & OPPORTUNITIES
2014 – 2024

20. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India.
TechSci Research provides market research reports in number of areas to organizations. The company uses
innovative business models that focus on improving productivity, while ensuring creation of high-quality
reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic
variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a
uniquely rich evaluation of the opportunities available in the market.
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No
representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation
of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci
Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any
errors or omissions or for the results obtained from the use of such information and especially states that it has no financial
liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts,
can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for
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Research.
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