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January 22, 2026 – As global manufacturing recovers and emerging technologies develop rapidly, the cemented carbide industry is entering a new wave of growth. According to the latest market data, the global cemented carbide rod market is expected to grow from USD 531 million in 2024 to USD 708 million by 2034, with a compound annual growth rate (CAGR) of 4.2%. This growth is primarily driven by strong demand from the cutting tool manufacturing sector, which accounts for nearly 50% of total consumption. As the core raw material for cemented carbide, tungsten carbide prices surged more than 200% in 2025, driven not only by ongoing Chinese export controls but also by global supply shortages and rising demand from emerging industries.
Price Pressure and Supply Chain Challenges
In 2025, tungsten carbide powder prices rose from early-year levels to 400 RMB/kg, representing a 23.3% increase and placing heavy cost pressure on cemented carbide manufacturers. The global tungsten price gap has widened further, with the European market experiencing stagnation. Although China-dominated quotations remain high, trading volume is relatively low. At the same time, tungsten scrap prices are also rising: Indian FOB prices have reached USD 92–95/kg, while European local cemented carbide scrap (W 90%) is around €70/kg and is expected to increase further this week. Analysts note that, with global mine supply increasingly concentrated in China and no new projects expected in the short term to relieve supply tightness, prices are likely to remain elevated in 2026.
This trend directly affects downstream manufacturers. Smelting companies are forced to raise prices due to high costs, while cemented carbide producers face order delivery delays. In addition, China’s export controls are expected to continue into 2026. Although civilian exports may stabilize or increase, the policy is accelerating the industry’s shift from raw material exports to higher-value-added products such as tungsten carbide. Video analysis indicates that cemented carbide and tungsten prices hit record highs in the second half of 2025, influenced by tariffs, oil drilling, and energy trends. The 2026 market is expected to continue being driven by domestic demand and growth in U.S. manufacturing.
Emerging Applications and Technological Innovation
Despite cost challenges, the industry outlook remains optimistic. Emerging sectors such as AI circuits, aerospace, and nuclear fusion are supporting strong tungsten prices. For example, in printed circuit board (PCB) production, tungsten is used in drill bits. As PCB demand rises, Chinese companies like Tungsten & High-Tech Materials have captured 25% of the national cemented carbide product market. Meanwhile, technological advancements are accelerating market transformation. Researchers have developed tungsten carbide phase control technology as a low-cost alternative catalyst for sustainable petrochemical production, potentially as effective as platinum-group metals. This injects new vitality into the industry and drives a positive outlook from 2025 to 2032, fueled by Asian industrialization, automation, and the adoption of Industry 4.0.
Apex Carbide’s Response Strategy
As a manufacturer specializing in high-quality double-helix cemented carbide rods, Jiangxi Apex Carbide Co., Ltd. (http://www.apexcarbide.net) is actively responding to market changes. The company emphasizes precision hardness and fast customization, with products suitable for precision machining and applications requiring high durability. Amid rising prices, Apex Carbide maintains competitiveness by optimizing its supply chain and investing in R&D, ensuring reliable supply of cemented carbide end mills and tools for customers. Looking ahead to 2026, the company will continue focusing on emerging applications such as AI and aerospace to seize market opportunities.
Overall, the cemented carbide industry in 2026 will be characterized by stable high prices and strong demand. Companies must prioritize innovation and supply chain management to achieve sustainable growth. For more details, please visit http://www.apexcarbide.net.
https://www.apexcarbide.net/cemented-carbide-2026-outlook-price-surge-market.html
Jiangxi Apex Carbide Co.,Ltd.
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