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Global Tungsten Steel Bars Market Research Report 2025
Synopsis
Tungsten steel bars are a kind of high hardness and high strength alloy material made of hard alloy tungsten steel (WC) as the main raw material, plus other precious metals and paste phase by powder metallurgy method.
The global Tungsten Steel Bars market was valued at US$ 385.7 million in 2023 and is anticipated to reach US$ 486 million by 2030, witnessing a CAGR of 3.3% during the forecast period 2024-2030.
Despite unprecedented volatility, the first half of 2022 remained strong for steel players, with prices and utilization higher than historical levels and unprecedented levels of EBITDA margins across most regions. This cycle was driven mainly by positive demand outlook that followed the recovery from disruptions caused by COVID-19, as well as infrastructure spending that was both long overdue and anticipated as part of the recovery stimulus. However, several signs of market slowdown began to appear in early 2022. As a result, steel demand outlooks have been revised downward: in April 2022, the World Steel Association’s short-range outlook was less optimistic than the one from late 2021, and its October 2022 demand forecasts for 2022 and 2023 saw downward revisions of 2.7 and 1.2 percent, respectively. Reasons for this include the ongoing war in Ukraine, waves of COVID-19-related lockdowns in China, and supply chain disruptions, as well as the overall macroeconomic situation, including repercussions from persistently high inflation and rising global interest rates. In steel markets, EBITDA margins and the margin over raw materials (MORM) have significantly declined from previously unseen highs, mainly due to negative market expectations and high energy prices, and players have reacted by idling capacities. In fact, more than 30 million metric tons per annum (MTPA) of capacities have idled in Europe in the second half of 2022, while approximately half of those capacities have been brought back online in 2023 when margins slightly recovered. As the steel industry continues to progress into 2023, we expect this level of volatility to be sustained across the entire value chain.
This report aims to provide a comprehensive presentation of the global market for Tungsten Steel Bars, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Tungsten Steel Bars.
Report Scope
The Tungsten Steel Bars market size, estimations, and forecasts are provided in terms of output/shipments (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Tungsten Steel Bars market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Tungsten Steel Bars manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
FAREAST
Latroble
Erasteel
Bohler
Hitachi
Nachi
HEYE Special Steel
Fuda Special Steel
Tiangong Tool
Baosteel
Dongbei Special Steel
Segment by Type
Solid Tungsten Steel Bar
Hollow Tungsten Steel Bar
Segment by Application
Cutting Tool
Stamping Tool
Wear Tool
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Tungsten Steel Bars manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Tungsten Steel Bars by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Tungsten Steel Bars in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
Tungsten steel bars are a kind of high hardness and high strength alloy material made of hard alloy tungsten steel (WC) as the main raw material, plus other precious metals and paste phase by powder metallurgy method.
The global Tungsten Steel Bars market was valued at US$ 385.7 million in 2023 and is anticipated to reach US$ 486 million by 2030, witnessing a CAGR of 3.3% during the forecast period 2024-2030.
Despite unprecedented volatility, the first half of 2022 remained strong for steel players, with prices and utilization higher than historical levels and unprecedented levels of EBITDA margins across most regions. This cycle was driven mainly by positive demand outlook that followed the recovery from disruptions caused by COVID-19, as well as infrastructure spending that was both long overdue and anticipated as part of the recovery stimulus. However, several signs of market slowdown began to appear in early 2022. As a result, steel demand outlooks have been revised downward: in April 2022, the World Steel Association’s short-range outlook was less optimistic than the one from late 2021, and its October 2022 demand forecasts for 2022 and 2023 saw downward revisions of 2.7 and 1.2 percent, respectively. Reasons for this include the ongoing war in Ukraine, waves of COVID-19-related lockdowns in China, and supply chain disruptions, as well as the overall macroeconomic situation, including repercussions from persistently high inflation and rising global interest rates. In steel markets, EBITDA margins and the margin over raw materials (MORM) have significantly declined from previously unseen highs, mainly due to negative market expectations and high energy prices, and players have reacted by idling capacities. In fact, more than 30 million metric tons per annum (MTPA) of capacities have idled in Europe in the second half of 2022, while approximately half of those capacities have been brought back online in 2023 when margins slightly recovered. As the steel industry continues to progress into 2023, we expect this level of volatility to be sustained across the entire value chain.
This report aims to provide a comprehensive presentation of the global market for Tungsten Steel Bars, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Tungsten Steel Bars.
Report Scope
The Tungsten Steel Bars market size, estimations, and forecasts are provided in terms of output/shipments (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Tungsten Steel Bars market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Tungsten Steel Bars manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
FAREAST
Latroble
Erasteel
Bohler
Hitachi
Nachi
HEYE Special Steel
Fuda Special Steel
Tiangong Tool
Baosteel
Dongbei Special Steel
Segment by Type
Solid Tungsten Steel Bar
Hollow Tungsten Steel Bar
Segment by Application
Cutting Tool
Stamping Tool
Wear Tool
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America, Middle East & Africa
Mexico
Brazil
Turkey
GCC Countries
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Tungsten Steel Bars manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Tungsten Steel Bars by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Tungsten Steel Bars in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
Index1 Tungsten Steel Bars Market Overview
1.1 Product Definition
1.2 Tungsten Steel Bars Segment by Type
1.2.1 Global Tungsten Steel Bars Market Value Growth Rate Analysis by Type 2023 VS 2030
1.2.2 Solid Tungsten Steel Bar
1.2.3 Hollow Tungsten Steel Bar
1.3 Tungsten Steel Bars Segment by Application
1.3.1 Global Tungsten Steel Bars Market Value Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Cutting Tool
1.3.3 Stamping Tool
1.3.4 Wear Tool
1.4 Global Market Growth Prospects
1.4.1 Global Tungsten Steel Bars Production Value Estimates and Forecasts (2019-2030)
1.4.2 Global Tungsten Steel Bars Production Capacity Estimates and Forecasts (2019-2030)
1.4.3 Global Tungsten Steel Bars Production Estimates and Forecasts (2019-2030)
1.4.4 Global Tungsten Steel Bars Market Average Price Estimates and Forecasts (2019-2030)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Tungsten Steel Bars Production Market Share by Manufacturers (2019-2024)
2.2 Global Tungsten Steel Bars Production Value Market Share by Manufacturers (2019-2024)
2.3 Global Key Players of Tungsten Steel Bars, Industry Ranking, 2022 VS 2023 VS 2024
2.4 Global Tungsten Steel Bars Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Tungsten Steel Bars Average Price by Manufacturers (2019-2024)
2.6 Global Key Manufacturers of Tungsten Steel Bars, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Tungsten Steel Bars, Product Offered and Application
2.8 Global Key Manufacturers of Tungsten Steel Bars, Date of Enter into This Industry
2.9 Tungsten Steel Bars Market Competitive Situation and Trends
2.9.1 Tungsten Steel Bars Market Concentration Rate
2.9.2 Global 5 and 10 Largest Tungsten Steel Bars Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Tungsten Steel Bars Production by Region
3.1 Global Tungsten Steel Bars Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.2 Global Tungsten Steel Bars Production Value by Region (2019-2030)
3.2.1 Global Tungsten Steel Bars Production Value Market Share by Region (2019-2024)
3.2.2 Global Forecasted Production Value of Tungsten Steel Bars by Region (2025-2030)
3.3 Global Tungsten Steel Bars Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
3.4 Global Tungsten Steel Bars Production by Region (2019-2030)
3.4.1 Global Tungsten Steel Bars Production Market Share by Region (2019-2024)
3.4.2 Global Forecasted Production of Tungsten Steel Bars by Region (2025-2030)
3.5 Global Tungsten Steel Bars Market Price Analysis by Region (2019-2024)
3.6 Global Tungsten Steel Bars Production and Value, Year-over-Year Growth
3.6.1 North America Tungsten Steel Bars Production Value Estimates and Forecasts (2019-2030)
3.6.2 Europe Tungsten Steel Bars Production Value Estimates and Forecasts (2019-2030)
3.6.3 China Tungsten Steel Bars Production Value Estimates and Forecasts (2019-2030)
3.6.4 Japan Tungsten Steel Bars Production Value Estimates and Forecasts (2019-2030)
4 Tungsten Steel Bars Consumption by Region
4.1 Global Tungsten Steel Bars Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
4.2 Global Tungsten Steel Bars Consumption by Region (2019-2030)
4.2.1 Global Tungsten Steel Bars Consumption by Region (2019-2024)
4.2.2 Global Tungsten Steel Bars Forecasted Consumption by Region (2025-2030)
4.3 North America
4.3.1 North America Tungsten Steel Bars Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.3.2 North America Tungsten Steel Bars Consumption by Country (2019-2030)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Tungsten Steel Bars Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.4.2 Europe Tungsten Steel Bars Consumption by Country (2019-2030)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Tungsten Steel Bars Consumption Growth Rate by Region: 2019 VS 2023 VS 2030
4.5.2 Asia Pacific Tungsten Steel Bars Consumption by Region (2019-2030)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Tungsten Steel Bars Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
4.6.2 Latin America, Middle East & Africa Tungsten Steel Bars Consumption by Country (2019-2030)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Tungsten Steel Bars Production by Type (2019-2030)
5.1.1 Global Tungsten Steel Bars Production by Type (2019-2024)
5.1.2 Global Tungsten Steel Bars Production by Type (2025-2030)
5.1.3 Global Tungsten Steel Bars Production Market Share by Type (2019-2030)
5.2 Global Tungsten Steel Bars Production Value by Type (2019-2030)
5.2.1 Global Tungsten Steel Bars Production Value by Type (2019-2024)
5.2.2 Global Tungsten Steel Bars Production Value by Type (2025-2030)
5.2.3 Global Tungsten Steel Bars Production Value Market Share by Type (2019-2030)
5.3 Global Tungsten Steel Bars Price by Type (2019-2030)
6 Segment by Application
6.1 Global Tungsten Steel Bars Production by Application (2019-2030)
6.1.1 Global Tungsten Steel Bars Production by Application (2019-2024)
6.1.2 Global Tungsten Steel Bars Production by Application (2025-2030)
6.1.3 Global Tungsten Steel Bars Production Market Share by Application (2019-2030)
6.2 Global Tungsten Steel Bars Production Value by Application (2019-2030)
6.2.1 Global Tungsten Steel Bars Production Value by Application (2019-2024)
6.2.2 Global Tungsten Steel Bars Production Value by Application (2025-2030)
6.2.3 Global Tungsten Steel Bars Production Value Market Share by Application (2019-2030)
6.3 Global Tungsten Steel Bars Price by Application (2019-2030)
7 Key Companies Profiled
7.1 FAREAST
7.1.1 FAREAST Tungsten Steel Bars Corporation Information
7.1.2 FAREAST Tungsten Steel Bars Product Portfolio
7.1.3 FAREAST Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.1.4 FAREAST Main Business and Markets Served
7.1.5 FAREAST Recent Developments/Updates
7.2 Latroble
7.2.1 Latroble Tungsten Steel Bars Corporation Information
7.2.2 Latroble Tungsten Steel Bars Product Portfolio
7.2.3 Latroble Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.2.4 Latroble Main Business and Markets Served
7.2.5 Latroble Recent Developments/Updates
7.3 Erasteel
7.3.1 Erasteel Tungsten Steel Bars Corporation Information
7.3.2 Erasteel Tungsten Steel Bars Product Portfolio
7.3.3 Erasteel Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.3.4 Erasteel Main Business and Markets Served
7.3.5 Erasteel Recent Developments/Updates
7.4 Bohler
7.4.1 Bohler Tungsten Steel Bars Corporation Information
7.4.2 Bohler Tungsten Steel Bars Product Portfolio
7.4.3 Bohler Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.4.4 Bohler Main Business and Markets Served
7.4.5 Bohler Recent Developments/Updates
7.5 Hitachi
7.5.1 Hitachi Tungsten Steel Bars Corporation Information
7.5.2 Hitachi Tungsten Steel Bars Product Portfolio
7.5.3 Hitachi Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.5.4 Hitachi Main Business and Markets Served
7.5.5 Hitachi Recent Developments/Updates
7.6 Nachi
7.6.1 Nachi Tungsten Steel Bars Corporation Information
7.6.2 Nachi Tungsten Steel Bars Product Portfolio
7.6.3 Nachi Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.6.4 Nachi Main Business and Markets Served
7.6.5 Nachi Recent Developments/Updates
7.7 HEYE Special Steel
7.7.1 HEYE Special Steel Tungsten Steel Bars Corporation Information
7.7.2 HEYE Special Steel Tungsten Steel Bars Product Portfolio
7.7.3 HEYE Special Steel Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.7.4 HEYE Special Steel Main Business and Markets Served
7.7.5 HEYE Special Steel Recent Developments/Updates
7.8 Fuda Special Steel
7.8.1 Fuda Special Steel Tungsten Steel Bars Corporation Information
7.8.2 Fuda Special Steel Tungsten Steel Bars Product Portfolio
7.8.3 Fuda Special Steel Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.8.4 Fuda Special Steel Main Business and Markets Served
7.7.5 Fuda Special Steel Recent Developments/Updates
7.9 Tiangong Tool
7.9.1 Tiangong Tool Tungsten Steel Bars Corporation Information
7.9.2 Tiangong Tool Tungsten Steel Bars Product Portfolio
7.9.3 Tiangong Tool Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.9.4 Tiangong Tool Main Business and Markets Served
7.9.5 Tiangong Tool Recent Developments/Updates
7.10 Baosteel
7.10.1 Baosteel Tungsten Steel Bars Corporation Information
7.10.2 Baosteel Tungsten Steel Bars Product Portfolio
7.10.3 Baosteel Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.10.4 Baosteel Main Business and Markets Served
7.10.5 Baosteel Recent Developments/Updates
7.11 Dongbei Special Steel
7.11.1 Dongbei Special Steel Tungsten Steel Bars Corporation Information
7.11.2 Dongbei Special Steel Tungsten Steel Bars Product Portfolio
7.11.3 Dongbei Special Steel Tungsten Steel Bars Production, Value, Price and Gross Margin (2019-2024)
7.11.4 Dongbei Special Steel Main Business and Markets Served
7.11.5 Dongbei Special Steel Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Tungsten Steel Bars Industry Chain Analysis
8.2 Tungsten Steel Bars Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Tungsten Steel Bars Production Mode & Process
8.4 Tungsten Steel Bars Sales and Marketing
8.4.1 Tungsten Steel Bars Sales Channels
8.4.2 Tungsten Steel Bars Distributors
8.5 Tungsten Steel Bars Customers
9 Tungsten Steel Bars Market Dynamics
9.1 Tungsten Steel Bars Industry Trends
9.2 Tungsten Steel Bars Market Drivers
9.3 Tungsten Steel Bars Market Challenges
9.4 Tungsten Steel Bars Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
Published By : QY Research
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