The Graphite Market is expected to reach during the forecast period at a 6.50 % CAGR.
Graphite is an allotropic carbon compound with a hexagonal crystalline structure. Graphite is one of the rare class of non-metals with strong thermal and electrical conductivities. The material appears to be a solid grey colour. The excellent characteristics of graphite include strong heat resistance and a high melting point. Graphite may also be used as a lubricant, a corrosion inhibitor, and a reinforcing agent. As a result of these advantageous characteristics, graphite is one of the most frequently used non-metallic materials in a variety of applications, including engineering materials, metallurgy, refractories, plastics, and automobiles.
The increasing use of graphite in refractories due to its high heat resistance is a major driver driving the global graphite market forward. Graphite demand is also increasing in different end-use sectors such as aluminium, aerospace, military, and automotive. Other significant reasons expected to fuel expansion in the global graphite market over the projected period are its characteristics such as self-lubricity and thermal conductivity. Graphite is also utilised as an anode in lithium-ion batteries. As a result, rising demand for electric cars, as well as the usage of lithium-ion batteries in such vehicles, as well as rising demand for smartphones and tablets, are projected to have a favourable influence on the worldwide graphite market during the next ten years.
The global graphite market size is predicted to reach over USD 22.78 billion by 2027. The worldwide graphite market's expansion is being stifled by strict laws and environmental restrictions governing the mining process. Furthermore, rising graphite costs are likely to restrain the global graphite market's growth throughout the forecast period.
Nonetheless, in the future, growing markets for graphite will present profitable prospects. Top graphite businesses are always focused on the creation of sophisticated products that will fuel market growth over the next ten years. For example, In June 2018, Tokai Carbon acquired Sid Richardson Carbon, Ltd and its affiliated companies. Sid Richardson Carbon is the largest carbon black producer in the U.S. The acquisition of the carbon black major has strengthened the company’s presence in North America.
Graphite Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 22.78 billion|
|Growth Rate||CAGR of 5.4% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East & Africa|
|Key Players Profiled||areAsbury Graphite Mills, Inc., Northern Graphite Corporation, Showa Denko K.K. Graphite India Limited, Energizer Resources Inc. SGL Carbon SE, Mason Graphite, Flinders Resources Ltd. Focus Graphite Inc. and SEC Carbon Limited.|
Key Segments of the Global Graphite Market
Type Overview, 2019-2028 (USD Billion)
- Natural Graphite
- Synthetic Graphite
- Graphite electrode
- Carbon fiber
- Graphite blocks
- Graphite powder
Application Overview, 2019-2028 (USD Billion)
- Battery Production
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global graphite market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global graphite market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the graphite industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global graphite market. The report will benefit Every stakeholder involved in the graphite market.
- Managers within the graphite industry looking to publish recent and forecasted statistics about the global graphite market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global graphite market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The worldwide graphite market is highly competitive, with the industry's main regional rivals. The graphite market is somewhat concentrated, with the top five natural graphite and synthetic graphite firms controlling a significant portion of the market in their respective areas. Major players in the global industry are Asbury Graphite Mills, Inc., Northern Graphite Corporation, Showa Denko K.K. Graphite India Limited, Energizer Resources Inc. SGL Carbon SE, Mason Graphite, Flinders Resources Ltd. Focus Graphite Inc. and SEC Carbon Limited among others.
Mergers and acquisitions, major investments, collaborations, new product launches, and capacity expansion are all important techniques utilised by large multinational corporations to boost their market share. To fulfil a wide range of consumer requests, the market's leading firms have a large worldwide footprint and a diverse product portfolio. Throughout the forecast period, developing areas are anticipated to become major markets for graphite due to growing demand from end-user industries.
Strategic Acquisitions in Global Graphite Market -
In August 2018, Asbury Carbons completed the acquisition of Process Engineering Corporation (PEC) based in Illinois, thereby expanding its vertical integration into the production of downstream graphite products. Process Engineering Corporation (PEC), is one of the major suppliers of graphite coated canvas in North America. With this, the company aims to expand its business operations into the downstream of the supply chain.
Strategic Expansions in Business Capabilities -
In July 2018, Showa Denko Carbon, Inc. (SDKC), a U.S. based subsidiary of the company, underwent capacity expansion to 30,000 tons/year of high-quality graphite electrodes. The company aims to expand its production so as to cater to a larger customer base in the U.S. and European countries.
In April 2018 Toray Industries, Inc. announced to escalate production capacity of large tow size carbon fiber in their subsidiary of Zoltek Companies, Inc, based in the U.S. With this expansion, the company aims to increase the production capacity at Zoltek’s facility based in Hungary from 10,000 tons to 15,000 tons on annual basis.
In April 2018, Teijin Limited announced to expand its establishments in Shanghai, China, and Taipei, Taiwan. This business expansion was aimed for capitalizing the increasing demand from carbon fiber along with strengthening the business capabilities in these regions.
The need for graphite is projected to rise as steel production using the electric arc furnace method increases. Natural graphite is used in the production of crucibles and mag-carbon bricks in refractories. Steel converters and electric arc furnaces both employ graphite as a liner. The rising demand for graphite is projected to be fueled by the increased use of steel. Graphite is also used to cover foundry facings in order to make the removal of hot metal simpler. All of these reasons are likely to drive up graphite demand in the metallurgical end-user industry.
On the basis of type, the graphite market is categorized as natural graphite and synthetic graphite. Natural graphite is sub-divided into flake, amorphous and vein graphite. Synthetic graphite is additionally sub-segmented as carbon fiber, graphite electrode, graphite blocks, and graphite powder among others.
Graphite is found naturally in various regions of the world and may also be manufactured synthetically. Synthetic graphite is another name for this grade. Flotation, screening, forming, and thermal and chemical purification are all processes in the refinement of natural graphite. Natural graphite comes in three distinct forms, each of which is classified according to its carbon content. China, Brazil, and India are the leading producers of flake, amorphous, and vein graphite.
Powder preparation, shape shaping, baking, graphitization, and the pyrolitic process are some of the methods used to make synthetic graphite. These techniques generate synthetic graphite with extremely high purity levels. Synthetic graphite has become considerably more popular than natural graphite as a result of this feature, and as a result is much more expensive.
Based on the application, the market is segmented into lubrication, refractories, foundry, battery production, and others. Graphite has long been utilised in refractories for the production of steel, furnaces, and other moldable components. Graphite is also frequently utilised as a lubricant in a variety of applications, including automotive and industrial.
However, graphite's most notable application is in lithium ion batteries, which are utilised in electric cars. Electric vehicles are the most recent accomplishment in the automobile industry, producing zero emissions and resulting in a significant increase in sales. This is one of the most important aspects in the graphite industry's future growth.
In the predicted period, the Asia Pacific area is expected to record for the determined market contribution. The Asian countries' massive need for graphite is primarily responsible for this region's dominance. Due to increased expenditures in the development of civil construction and infrastructure, the construction sector in Asia Pacific is seeing a major uptick. Additionally, as per capita income has grown, so has expenditure, resulting in increasing demand in the packaging sector. Demand is expected to be boosted further by investments in the energy and transportation industries.
Rapid developments in these sectors is projected to propel the demand for graphite in the coming years. Graphite consumption is expected to rise steadily in North America and Europe, fueled mostly by the desire for electric cars. Graphite is an important component in electric car batteries. Electric cars are becoming increasingly popular as a result of their compliance with current environmental norms and laws. As a result, hybrid and completely electric vehicles are in high demand in these areas.
The major players of the global graphite market are Asbury Graphite Mills, Inc., Northern Graphite Corporation, Showa Denko K.K. Graphite India Limited, Energizer Resources Inc. SGL Carbon SE, Mason Graphite, Flinders Resources Ltd. Focus Graphite Inc. and SEC Carbon Limited. Prominent companies are posing new and innovative graphite products. They are also investing in and purchasing small firms in order to boost their profitability. Due to the industry's fierce rivalry, market concentration will be significant as significant enterprises with large market shares focus on increasing their customer base across international markets.