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US Tungsten Carbide Powder Market
ID: MRFR/CnM/15439-HCR
200 Pages
April 2025
US Tungsten Carbide Market US Tungsten Carbide Market Research Report: By Application (Cemented Carbide, Coatings, Alloys, Others) and By End User (Aerospace and Defence, Automotive, Mining, Construction, Electronics, Others) - Forecast to 2035
Industry Developments
The US Tungsten Carbide Market has recently seen significant developments, particularly with companies such as Carbide Technologies, Sandvik, and Kennametal expanding their operations and product offerings. Following an increase in demand for cutting tools and wear parts, Tungsten Carbide Canada and Global Tungsten and Powders Corp reported strong revenue growth, reflecting the market's upward trajectory. In July 2023, Rohde Schubert announced a strategic acquisition of a minor player, enhancing their competitive edge in tool manufacturing. Alpaca Coatings expanded its service portfolio by introducing advanced tungsten carbide coatings, addressing the rising needs of various industries, such as aerospace and mining. The US government has also reinforced support for the domestic production of critical minerals, including tungsten, as part of its economic strategy. Notably, in September 2022, Element Six reported a partnership with Dremel to develop new technologies that leverage tungsten carbide's unique properties. Such partnerships and acquisitions underscore a focus on innovation within the sector. Overall, the combination of rising demand, investments in technology, and strategic mergers is shaping a dynamic landscape for the US Tungsten Carbide Market.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 2.12(USD Billion) |
| MARKET SIZE 2024 | 2.5(USD Billion) |
| MARKET SIZE 2035 | 5.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 6.504% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Carbide Technologies, Alpaca Coatings, Dremel, Rohde Schubert, Sandvik, CeramTec, Tungsten Carbide Canada, Widia, Mitsubishi Materials, Kennametal, Global Tungsten and Powders Corp, Sumitomo Electric, Hardcarb Technologies, Element Six, Wolfgang G. Schneider |
| SEGMENTS COVERED | Application, End User |
| KEY MARKET OPPORTUNITIES | Automotive components demand surge, Expanding oil and gas applications, Aerospace industry growth, Increasing manufacturing automation, High-performance tool innovations |
| KEY MARKET DYNAMICS | Rising industrial applications, Growing demand for precision tools, Technological advancements in manufacturing, Fluctuating raw material prices, Environmental regulations and sustainability |
| COUNTRIES COVERED | US |
FAQs
What is the expected market size of the US Tungsten Carbide Powder Market in 2024?
The US Tungsten Carbide Powder Market is expected to be valued at 1.69 billion USD in 2024.
What is the projected market size of the US Tungsten Carbide Powder Market by 2035?
By 2035, the market size is projected to reach 2.8 billion USD.
What is the expected CAGR for the US Tungsten Carbide Powder Market during the forecast period?
The expected compound annual growth rate (CAGR) for the market from 2025 to 2035 is 4.725%.
Which segment of the market is valued the highest in 2024?
In 2024, the Rotary Drilling segment is valued at 0.4 billion USD, making it the highest segment.
What is the market value of the Mining segment of the US Tungsten Carbide Powder Market in 2035?
The Mining segment is projected to reach a value of 0.5 billion USD in 2035.
Who are the key players in the US Tungsten Carbide Powder Market?
Major players in the market include Tungsten Heavy Powder and Parts, Kennametal Inc, and Miller Welding, among others.
What is the market share of the Wear segment in 2024?
The Wear segment is valued at 0.4 billion USD in 2024 within the US Tungsten Carbide Powder Market.
What trends are currently influencing the US Tungsten Carbide Powder Market growth?
The market is influenced by advancements in applications such as mining, metal forming, and wear-resistant technologies.
What challenges does the US Tungsten Carbide Powder Market face going forward?
Challenges include fluctuations in raw material prices and increasing competition among key players.
What is the expected market value of the Submicron segment in 2035?
The Submicron segment is expected to reach a value of 0.55 billion USD by 2035.
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