TUNGSTEN CARBIDE MARKET Size and trends

Tungsten Carbide Market Size and Trends

The Global Tungsten Carbide Market is estimated to be valued at USD 17.54 Bn in 2025 and is expected to reach USD 24.45 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2025 to 2032.

Key Takeaways of the Tungsten Carbide Market:

• The tungsten carbide powder segment is projected to account for 39.3% of the market share in 2025.
• The cemented carbide segment is anticipated to represent 31.5% of the market share in 2025.
• The aerospace & defense segment is projected to account for 38.7% of the market share in 2025.
• Asia Pacific is projected to lead the global market with a 30.6% share in 2025, followed by the Europe region, which is expected to hold a 28.8% share in 2025.

Market Overview:

Tungsten carbide finds wide usage in cutting tools, wear-resistant nozzles, armor piercing shells, and abrasives due to its hardness and corrosion resistance properties. Growing demand from the mining and construction industries is expected to be a key growth driver. Tungsten carbide tools are highly preferred for tough metal cutting and forming applications in these industries due to their high hardness and wear resistance. Increased infrastructure development and mining activity worldwide will also fuel the demand.