Tungsten carbide is a very hard and strong material that is commonly used in cutting tools and wear parts. It is made by combining tungsten and carbon atoms, which forms a very hard compound that is capable of maintaining its hardness and strength even at high temperatures. This makes it an ideal material for use in applications where the cutting tool or wear part will be subjected to high levels of heat and wear, such as in drilling and milling operations. 

Additionally, tungsten carbide is also highly resistant to corrosion, which makes it useful in applications where the cutting tool or wear part will be exposed to harsh environments. Overall, the combination of hardness, strength, and resistance to heat and corrosion make tungsten carbide a popular choice for use in cutting tools and wear parts.