7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

The Tungsten Carbide market is experiencing significant growth due to its superior abrasion resistance and high compressive strength. Key industries driving demand include Aerospace and Defense, Automotive, and Construction. Trends like 3D printing and chipless forming are increasing its application in manufacturing activities. Alloys made with Tungsten Carbide are used in automotive parts, ball joints, brakes, and cutting tools. Cemented carbide is crucial in high-temperature wear resistance applications, such as in mining and petroleum tunneling. Emerging economies' industrialization and infrastructural developments are increasing demand. However, challenges like raw material shortage, shipping delays, and health concerns such as lung fibrosis and respiratory issues from dust inhalation are concerns. Applications in electronics, medical instruments, and aluminum cans are also growing.

The wholly-owned UK subsidiary of Horn Cutting Tools will be at the show to explain the reasons behind its launches and will also exhibit a broad cross section of the manufacturer's extensive tooling range.

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To help mitigate these difficulties, Horn has introduced a boring bar with adjustable damping so it can be set to match the amplitude of the oscillation generated by the machining process. Precise adjustment enables vibration-free turning, resulting in better surface quality of the machined component and a significant increase in insert life.

Application (Machine components and tools, Cutting and drilling tools, Dies and punches, Abrasives, and Others), End-user (Mining and construction, Automotive, Power generation and fluid power manufacturing, Oil and gas, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)

NEW YORK, Aug. 21, 2024 /PRNewswire/ -- The global tungsten carbide market  size is estimated to grow by USD 4.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.97%  during the forecast period.  Increasing demand for tungsten carbide from automotive industry is driving market growth, with a trend towards emerging applications of tungsten carbide. However, economic slowdown in China  poses a challenge. Key market players include American Elements, Buffalo Tungsten Inc., CY Carbide Mfg. Co. Ltd., DAAO Industry Co. Ltd., Extramet Products LLC, Federal Carbide Co., GuangDong XiangLu Tungsten Co. Ltd., HC Starck Tungsten GmbH, Hengdian Group Holdings Ltd., ILJIN Diamond Co. Ltd., Japan New Metals Co. Ltd., Jiangxi Yaosheng Tungsten Co. Ltd., Kennametal Inc., Murugappa Group, Nanchang Cemented Carbide Co. Ltd., Plansee SE, Reade International Corp., Sandvik AB, Sumitomo Electric Industries Ltd., and Umicore SA.

Paul Horn, the solid carbide tooling, carbide insert and toolholder manufacturer headquartered in Tübingen, Germany, has supplied more than 200,000 special tooling solutions over the years and currently offers 25,000 standard products, including five due to be introduced to the UK and Irish markets at MACH 2024.

The tools are offered in two types from stock. The DSHPR variant is suitable as both a finishing and a roughing tool and the geometry is adapted for trochoidal machining and plunging.

In addition, the combination of an ultra-fine-grain carbide powder and a high-temperature-resistant coating raises process reliability and improves component quality. In-house coating of the inserts enables fast delivery times, and the carbide grade is available for all standard Horn thread whirling systems.

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

The production of bone screws must be carried out using a metalcutting process, as the material for this type of screw must not be compressed, as is the case when thread rolling, for example. Titanium in particular, which is widely used in the human body due to its biocompatibility, tends to burn if the material is unduly compressed. As a thread cutting process for the medical industry, thread whirling on Swiss-type lathes has been a standard procedure for many years.

As standard, Horn offers the boring bars from stock in length-to-diameter ratios of 5:1 and 8:1. Higher ratios are available as special tools. In the case of grooving, Horn offers the S224 double-edged system.

Horn has developed a new, solid carbide milling cutter range for machining stainless steels, widely used in the food, chemical and pharmaceutical sectors, as well as in the watchmaking and other precision engineering industries.

The latest Iscar LogiQuick campaign has unveiled a diverse range of new cutting tools, effectively replenishing the company's portfolio.

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com/

The HyproJET X6 from Ceratizit is based on an improved and patented design which makes is possible to increase cutting performance, leading and lifetime.

Tungsten carbide is a hard and durable material, primarily used in manufacturing activities due to its exceptional properties such as high abrasion resistance, deflection resistance, and tensile strength. Cemented carbide, a type of tungsten carbide, is widely used in various industries for manufacturing automotive components, cutting tools, and industrial machinery. Tungsten carbide scrap is recycled and reused to produce new products, reducing the need for raw materials. The demand for tungsten carbide is driven by industries like mining, where it is used in drilling tools and mining equipment. Urbanization and infrastructural developments in emerging economies have led to an increase in infrastructure projects, further fueling the demand for tungsten carbide in construction and petroleum tunneling. Metallic cobalt is a crucial component in the production of cemented carbide. However, raw material shortages and shipping delays can impact the supply chain, leading to price volatility. The market for tungsten carbide is also influenced by industrialization, with an increasing focus on automation and the production of automatic valves. Tungsten carbide powder is another significant application area, used in the production of advanced ceramics and superalloys.

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The Supermini Type 105 system insert requires only one toolholder for well over 1,000 insert variants, which applies equally to left-hand and right-hand versions. The carbide inserts are available coated or uncoated in various grades for a variety of applications, including hard machining up to 66 HRC.

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Tungsten Carbide is a valuable industrial material, widely used in various sectors including construction, electronics, and mining. Its applications range from wear parts in infrastructure projects to cutting tools in manufacturing activities. However, the market faces several challenges. Raw material shortage and shipping delays impact production, while high production costs increase prices. Tungsten Carbide's high deflection resistance and wear resistance make it ideal for crankshafts, but its toxicity and potential health hazards, such as lung fibrosis and skin allergies, pose concerns for workers. In emerging economies, increased industrialization and infrastructural developments lead to growing demand for Tungsten Carbide in construction and mining. However, this also results in increased mining activities and potential respiratory issues for workers, including silicosis. Tungsten Carbide is used in various industries, from steel wires and studs for tires to military components and medical instruments. In the mining sector, it's used for petroleum tunneling and mining equipment. Recycling Tungsten Carbide scrap is an emerging trend to mitigate raw material shortages. Despite these challenges, Tungsten Carbide's unique properties, such as high tensile strength and high-temperature wear resistance, make it an indispensable material in numerous industries. Its versatility in applications, from copper wires to glass bottles, keeps the market dynamic and evolving.

American Elements, Buffalo Tungsten Inc., CY Carbide Mfg. Co. Ltd., DAAO Industry Co. Ltd., Extramet Products LLC, Federal Carbide Co., GuangDong XiangLu Tungsten Co. Ltd., HC Starck Tungsten GmbH, Hengdian Group Holdings Ltd., ILJIN Diamond Co. Ltd., Japan New Metals Co. Ltd., Jiangxi Yaosheng Tungsten Co. Ltd., Kennametal Inc., Murugappa Group, Nanchang Cemented Carbide Co. Ltd., Plansee SE, Reade International Corp., Sandvik AB, Sumitomo Electric Industries Ltd., and Umicore SA

Sharp insert geometry ensures process reliability, even with very small infeed and cutting feed rates. The specially developed coating is suitable for stainless steels, non-ferrous metals and other metals.

Paul Horn, the solid carbide tooling, carbide insert and toolholder manufacturer headquartered in Tübingen, Germany, has supplied more than 200,000 special tooling solutions over the years and currently offers 25,000 standard products, including five due to be introduced to the UK and Irish markets at MACH 2024. The wholly-owned UK subsidiary of Horn Cutting Tools will be at the show to explain the reasons behind its launches and will also exhibit a broad cross section of the manufacturer's extensive tooling range. Bore superfinishing At the show an addition to the Horn Supermini boring, grooving and chamfering system will be announced, a variant with a precision-ground rake face designed for producing ultra-fine bores. The ground cutting edge is free from notches when viewed at a magnification of x200 and the tool can be used to machine components having an inside diameter from just 0.3mm. Sharp insert geometry ensures process reliability, even with very small infeed and cutting feed rates. The specially developed coating is suitable for stainless steels, non-ferrous metals and other metals. Horn's new solid carbide milling system for stainless steel exhibits high performance and long tool life The Supermini Type 105 system insert requires only one toolholder for well over 1,000 insert variants, which applies equally to left-hand and right-hand versions. The carbide inserts are available coated or uncoated in various grades for a variety of applications, including hard machining up to 66 HRC. Stainless steel milling Horn has developed a new, solid carbide milling cutter range for machining stainless steels, widely used in the food, chemical and pharmaceutical sectors, as well as in the watchmaking and other precision engineering industries. Due to their geometry and efficient chip breaking, the mills are suitable for machining numerous other materials as well. The combination of substrate, macro and micro geometry, and IG3 coating exhibits high cutting performance and long tool life. The coating in particular offers high temperature resistance for machining steels alloyed with chromium, nickel and molybdenum. The tools are offered in two types from stock. The DSHPR variant is suitable as both a finishing and a roughing tool and the geometry is adapted for trochoidal machining and plunging. Type DSR, with its very sharp cutting-edge geometry and short design, is suitable for very small parts and unstable workholding conditions, such as are frequently encountered in the medical and watchmaking industries. The new SG3P carbide grade enables shorter thread whirling cycle times thanks to higher cutting values Thread whirling A new, high-performance, carbide grade from Horn, the SG3P, presents enhanced possibilities in terms of performance and tool life when whirling medical screws. It enables shorter cycle times for thread production thanks to higher cutting values, including when processing materials that traditionally are difficult to machine. In addition, the combination of an ultra-fine-grain carbide powder and a high-temperature-resistant coating raises process reliability and improves component quality. In-house coating of the inserts enables fast delivery times, and the carbide grade is available for all standard Horn thread whirling systems. The production of bone screws must be carried out using a metalcutting process, as the material for this type of screw must not be compressed, as is the case when thread rolling, for example. Titanium in particular, which is widely used in the human body due to its biocompatibility, tends to burn if the material is unduly compressed. As a thread cutting process for the medical industry, thread whirling on Swiss-type lathes has been a standard procedure for many years. Horn's new boring bar with adjustable damping carrying one of the manufacturer's grooving inserts Boring bar damping A long overhang can cause a turning tool to oscillate when boring internal geometries. In addition to causing chatter marks on the surface of the machined component, the vibrations can lead to a significant reduction in tool life. For unfavourable length-to-diameter ratios, even damped boring bars may vibrate under certain conditions. To help mitigate these difficulties, Horn has introduced a boring bar with adjustable damping so it can be set to match the amplitude of the oscillation generated by the machining process. Precise adjustment enables vibration-free turning, resulting in better surface quality of the machined component and a significant increase in insert life. As standard, Horn offers the boring bars from stock in length-to-diameter ratios of 5:1 and 8:1. Higher ratios are available as special tools. In the case of grooving, Horn offers the S224 double-edged system. For machining cast iron brake discs, Horn has introduced a new tool range that includes solid CBN (cubic boron nitride) ISO inserts, as well as CBN-tipped full-radius and shaped inserts, plus stable tool carriers Grades for discs Horn is also launching a new tool range for manufacturing brake discs economically. It includes solid CBN (cubic boron nitride) ISO inserts, mainly used for cast iron machining, and CBN-tipped full-radius and shaped inserts. The grade has no metallic bonding phase and therefore has the highest hot hardness of all cutting materials. Horn offers the solid CBN ISO S turning insert with eight cutting edges for roughing and finishing. Stable tool carriers are included in the offering and, depending on the operation and metal removal rate, in excess of 1,000 cast iron brake discs can be machined per insert corner. Additionally, Horn has introduced two different tool solutions for machining the heat dissipation grooves in the discs. The CBN-tipped S117 profile grooving insert is ideal in terms of cutting speed and longevity for large batch production. During the process, each groove is produced in just under two seconds in a single operation. For greater flexibility, Horn's S229 full-radius, CBN-tipped inserts offer the option of copy turning the grooves in around four seconds. Regrinding and re-tipping are possible with both types. Horn Cutting Toolswww.phorn.co.ukHall 6, Stand 210

MSC Industrial Supply Co. UK (MSC) is celebrating a successful season after sponsoring two local youth football teams during the 2023/2024 campaign.

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The latest Iscar LogiQuick campaign has unveiled a diverse range of new cutting tools, effectively replenishing the company's portfolio.

A new, high-performance, carbide grade from Horn, the SG3P, presents enhanced possibilities in terms of performance and tool life when whirling medical screws. It enables shorter cycle times for thread production thanks to higher cutting values, including when processing materials that traditionally are difficult to machine.

Type DSR, with its very sharp cutting-edge geometry and short design, is suitable for very small parts and unstable workholding conditions, such as are frequently encountered in the medical and watchmaking industries.

MSC Industrial Supply Co. UK (MSC) is celebrating a successful season after sponsoring two local youth football teams during the 2023/2024 campaign.

Horn is also launching a new tool range for manufacturing brake discs economically. It includes solid CBN (cubic boron nitride) ISO inserts, mainly used for cast iron machining, and CBN-tipped full-radius and shaped inserts. The grade has no metallic bonding phase and therefore has the highest hot hardness of all cutting materials.

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1.1 Machine components and tools-  The Tungsten Carbide market is a significant sector in the industrial industry. Tungsten Carbide is a hard and durable material, widely used in various applications such as cutting tools, wear parts, and abrasives. Its high strength, toughness, and resistance to wear make it an essential component in heavy machinery and construction equipment. The market for Tungsten Carbide is driven by the growth in the manufacturing and construction industries. Key players in the market include Carpenter Technology, CTS Corporation, and Materion Corporation. The market is expected to grow steadily due to increasing demand for durable and efficient industrial components.

A long overhang can cause a turning tool to oscillate when boring internal geometries. In addition to causing chatter marks on the surface of the machined component, the vibrations can lead to a significant reduction in tool life. For unfavourable length-to-diameter ratios, even damped boring bars may vibrate under certain conditions.

Horn offers the solid CBN ISO S turning insert with eight cutting edges for roughing and finishing. Stable tool carriers are included in the offering and, depending on the operation and metal removal rate, in excess of 1,000 cast iron brake discs can be machined per insert corner.

At the show an addition to the Horn Supermini boring, grooving and chamfering system will be announced, a variant with a precision-ground rake face designed for producing ultra-fine bores. The ground cutting edge is free from notches when viewed at a magnification of x200 and the tool can be used to machine components having an inside diameter from just 0.3mm.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tungsten-carbide-market-size-is-set-to-grow-by-usd-4-66-billion-from-2024-2028--increasing-demand-for-tungsten-carbide-from-automotive-industry-to-boost-the-market-growth-technavio-302226321.html

Due to their geometry and efficient chip breaking, the mills are suitable for machining numerous other materials as well. The combination of substrate, macro and micro geometry, and IG3 coating exhibits high cutting performance and long tool life. The coating in particular offers high temperature resistance for machining steels alloyed with chromium, nickel and molybdenum.

Coalville, Leicestershire-based CMS Cepcor is a leading supplier of aftermarket crusher spares, manganese-steel wear liners and other equipment for the mining, aggregate production and associated industries worldwide.

Additionally, Horn has introduced two different tool solutions for machining the heat dissipation grooves in the discs. The CBN-tipped S117 profile grooving insert is ideal in terms of cutting speed and longevity for large batch production.

During the process, each groove is produced in just under two seconds in a single operation. For greater flexibility, Horn's S229 full-radius, CBN-tipped inserts offer the option of copy turning the grooves in around four seconds. Regrinding and re-tipping are possible with both types.

Hundreds of British manufacturing companies opened their doors in a UK-wide open house today as part of National Manufacturing Day, giving their local communities the chance to see the highly paid careers and jobs on offer in our exciting and diverse sector.

Tungsten Carbide is a hard and durable material, known for its exceptional abrasion resistance and high compressive strength. It is primarily used in various industries due to its superior wear resistance, particularly in high-temperature applications. The market for Tungsten Carbide is driven by its extensive use in manufacturing activities, infrastructure projects, and industrialization in emerging economies. Applications of Tungsten Carbide include 3D printing, aerospace and defense, alloys, automotive parts, automatic valves, ball joints, brakes, carcinogens, cemented carbide, chipless forming, coatings, copper wires, crankshafts, cutting tools, deflection resistance, dust inhalation, electronics, high-temperature wear resistance, infrastructure projects, industrial mining, mining equipment, petroleum tunneling, plastic tubes, recycling, respiratory issues, shipping delays, silicosis, skin allergies, steel wires, structural parts, studs for tires, tensile strength, titanium carbide powder, toxicity, and wear parts. The market for Tungsten Carbide is also influenced by factors such as raw material shortages, manufacturing activities, and the production of tungsten carbide powder and scrap. However, concerns over health issues such as lung fibrosis and respiratory problems associated with the production and use of Tungsten Carbide may impact the market's growth.

A South West-based engineering team is aiming to transform the large-format additive manufacturing sector with the launch of its latest product.

The HyproJET X6 from Ceratizit is based on an improved and patented design which makes is possible to increase cutting performance, leading and lifetime.

The Chinese economic slowdown has significantly impacted the global tungsten carbide market. China, the world's largest producer of tungsten ores, accounts for over 60% of the global share. Due to weak economic conditions, there has been an increase in tungsten supply and a decrease in consumption. Major Chinese tungsten producers, such as Hunan Nonferrous Metals, Zhangyuan Tungsten, Nanchang Cemented Carbide Co. Ltd, Zigong Huagang Cemented Carbide New Material, Xiamen Tungsten, and Jiangxi Rare Earth and Rare Metals Tungsten Group, have announced production reduction strategies. The China Tungsten Industry Association is also considering similar initiatives. These actions may hinder the growth of the global tungsten carbide market during the forecast period.

Tungsten carbide is a versatile material with extensive applications in various industries. Beyond its traditional uses in machine tools, cutting tools, dies, punches, and abrasives, technological advancements are expanding its horizons. One such application is the use of tungsten carbide as a reforming catalyst for converting natural gas to hydrogen gas. This technology is integral to hydrogen-powered engines and fuel cells. Another emerging application is the use of tungsten carbide as a slurry in 3D printing. This fabrication technique offers enhanced flexibility and sharpness for cutting tools compared to conventional methods. Tungsten carbide powder is also utilized in HVOF systems for spraying and coating applications, providing high porosity, density, and strength. Silver-tungsten-carbide composites are employed in manufacturing surface films and contacts, showcasing superior erosion resistance and anti-weld properties. These products are essential in large low-voltage circuit breakers and other protective devices. These applications collectively contribute to the robust growth of the global tungsten carbide market.

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