This case relates to tough, wear resistant graded structure composites, to a process for preparing the same and to tools and products fabricated therefrom. The composites have a surface layer e.g. of WC and a binder, an interface layer, e.g. which is a stepwise transition from the surface layer whereby the binder content thereof gradually increases, a substrate layer which is a combination of e.g. an initial high carbon steel layer and finally a base layer of bainitic steel. The composites are substantially non-porous and can be used to fabricate components such as drill bits, wear plates, pump components machine tools, seals, washers, bearings and the like.