According to Cognitive Market Research, the global Hard Metal Market size will be USD 1642.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 657.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 492.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 377.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 82.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 32.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.
The Steel bonded carbide Hard Metal category is the fastest growing segment of the Hard Metal industry
