United States Tungsten Carbide Market Insights: Advanced Material Use Across Key Player Industries - JAPAN NEW METALS CO. LTD, China Tungsten, Chongyi Zhang Yuan Tungsten Co. Ltd, Federal Carbide Company, Kennametal Inc

Tungsten Carbide Market reached USD$ 20.2 billion in 2022 and is expected to reach USD$ 34.7 billion by 2031, growing with a CAGR of 7.0% during the forecast period 2024-2031.

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United States: Recent Industry Developments

✅ November 2025: U.S.-based manufacturers expanded tungsten carbide tool production to support rising demand in aerospace and precision machining.

✅ October 2025: New investments were made in recycling technologies to recover tungsten carbide from industrial scraap.

✅ September 2025: Companies launched high-performance tungsten carbide grades tailored for oil & gas drilling applications.

Japan: Recent Industry Developments

✅ November 2025: Japanese companies introduced ultra-fine tungsten carbide tools for semiconductor wafer processing.

✅ October 2025: Automotive component suppliers increased adoption of tungsten carbide wear parts for EV powertrain systems.

✅ September 2025: R&D efforts intensified to develop corrosion-resistant tungsten carbide composites for advanced machining.

GCC: Recent Industry Developments

✅ November 2025: GCC industrial clusters boosted imports and local finishing of tungsten carbide tools for energy and construction industries.

✅ October 2025: Saudi Arabia initiated partnerships to localize tungsten carbide production for mining and drilling sectors.

✅ September 2025: UAE manufacturers adopted high-grade tungsten carbide components to enhance performance in metalworking and fabrication.

Key Players:

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.

Key Industry Development:

Pricing and supply‐chain developments

1. Price assessments show Q3 2025 tungsten carbide prices around 50-65 USD/kg in major markets (e.g., about 63.5 USD/kg in China and 50-53 USD/kg in the US and Germany), with a clear upward trend versus 2024 driven by supply tightness and higher input/energy costs.​

2. Industry commentary in mid‐2025 notes that tungsten carbide powder prices have "continued to rise" since the start of the year, putting heavy cost pressure on cemented‐carbide and cutting‐tool producers as mining quotas, environmental regulations, and sintering‐energy costs bite.

Technology, sustainability and product innovation

1. 2024-25 are described as turning‐point years in several outlooks, with customers demanding more efficient and "eco‐friendlier" tungsten carbide products-e.g., longer‐life tools, recycled powder use, and processes that cut scraap and energy per unit output.​

2. Advancements in material science (nano‐structured carbides, improved binders, advanced PVD/CVD coatings) are highlighted as key to extending tool life and enabling high‐speed machining of tough alloys used in aerospace, EVs and industrial equipment.

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)

Regional Analysis for Tungsten Carbide 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: Lays the foundation by defining the scope of the report, highlighting core market segments across regions, product types, and applications. It delivers a clear snapshot of current market size, growth potential, and how the industry is expected to evolve in both the near and long term.

Chapter 2: Spotlights the most impactful market insights, unveiling the transformative trends and forces shaping the future of the industry.

Chapter 3: Provides a deep dive into the competitive landscape of , covering revenue shares, strategic initiatives, and notable mergers & acquisitions that are reshaping the market.

Chapter 4: Presents detailed company profiles of leading players featuring financial performance, product portfolios, profit margins, and key milestones that set them apart in the industry.

Chapters 5 & 6: Break down revenue analysis at both regional and country levels, offering precise data on market size, growth drivers, and expansion opportunities across global markets.

Chapter 7: Analyzes the market by product type, spotlighting segment-specific opportunities and helping stakeholders identify untapped, high-growth areas.

Chapter 8: Explores the market through application-based segmentation, assessing demand across industries and pinpointing downstream sectors with the strongest potential for growth.

Chapter 9: Maps the industry's supply chain in detail, tracing upstream and downstream activities to provide clarity on value creation across the ecosystem.

Chapter 10: Wraps up with a concise summary of the report's key insights distilling the most critical findings and strategic takeaways for decision-makers and stakeholders.

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