Tungsten Carbide Market in 2025 | Machining & Metalworking Trends 2031 | Top Companies - Federal Carbide Company, GuangDong XiangLu Tungsten Co. Ltd., JAPAN NEW METALS CO. LTD, China Tungsten, Chongyi Zhang Yuan Tungsten Co. Ltd

DataM Intelligence has published a new research report on "Tungsten Carbide Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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Latest M&A Activity

Elemental Altus Royalties merged with EMX Royalty in September 2025, forming Elemental Royalty Corp focused on tungsten, rare earths, and other critical minerals royalties, backed by $100 million investment from Tether Investments seeking growth in tungsten-related assets.​

Almonty Industries agreed in October 2025 to acquire a tungsten project in Montana, US, previously managed by Union Carbide. This acquisition aims to restart US tungsten production, important for supply chain independence in aerospace and defense.​

Strategic mining ventures and acquisitions by western companies aim to reduce reliance on Chinese tungsten supply, reflecting geopolitical supply chain diversification trends.

Key Players:

Sandvik AB, Kennametal Inc., CERATIZIT S.A., Federal Carbide Company, GuangDong XiangLu Tungsten Co. Ltd., JAPAN NEW METALS CO. LTD, China Tungsten, Chongyi Zhang Yuan Tungsten Co. Ltd, Merck KGaA and H.C. GmbH.

Growth Forecast Projected:

The Global Tungsten Carbide Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Tungsten Carbide Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Grade: (Rotary Drilling & Mining Grades, Submicron Grades, Metal Forming & Wear Grades, Corrosion Resistant Grades, General Purpose Grades, and Others)

By Application: (Machine Tools & Components, Dies & Punches, Cutting Tools, Abrasive Products, Others)

By End-User: (Mining & Construction, Transportation, Industrial Engineering, Oil & Gas, Aerospace & Defense, Others)

New Product Launches and Innovations
BETEK, a tungsten carbide tool specialist, plans to present new superalloy materials based on tungsten carbide targeting enhanced agricultural machinery tools with higher durability and resistance.​

Companies are launching new ultra-high purity tungsten carbide powders with precise particle size control for semiconductor and precision tool manufacturing.​

Additive manufacturing applications with tungsten carbide for cutting tools and wear parts continue to expand, promising faster production, design flexibility, and lower costs.

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

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

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Tungsten Carbide producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Tungsten Carbide revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the Tungsten Carbide Market?

A: The Tungsten Carbide Market stood at USD 20.2 billion in 2022 and is set to experience remarkable growth, reaching USD 34.7 billion by 2031

Q2: How fast is the Tungsten Carbide Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 7.0% from 2025 to 2032

Q3: Which regions are dominating the Tungsten Carbide Market and which are fastest-growing?

A: North America dominating the Tungsten Carbide market.

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