The increasing adoption of graphite in refractories, particularly in developing as well as developed states are driving the graphite market growth
The global graphite market size is likely to attain over USD 22.78 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 5.4% during the forecast years 2021-2028. Graphite is a grey crystalline allotropic form of carbon that can be found in rocks or produced by hand from coke. It's utilised as a solid lubricant, in pencils, and in nuclear reactors as a moderator. Graphite has a two-dimensional, planar crystal structure and can withstand temperatures of above 3,600°C without losing its strength or stability. It is chemically resistant while also being one of the lightest reinforcing agents available and having a high natural lubricity.
The need for graphite is projected to rise as steel production utilising the electric arc furnace method increases. Natural graphite is utilised in the production of crucibles and mag-carbon bricks in refractories. Electric arc furnaces and steel converters both employ graphite as a liner. In steel moulding applications, several types of alumina-graphite are utilised in continuous casting ware, as troughs and nozzles. 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. However, over the projection period, the graphite market would be restrained by an increase in export duties on graphite in China and a declining price trend for natural graphite. Furthermore, increase in the use of green technologies, as well as mergers and acquisitions, are expected to provide attractive growth possibilities for major companies to retain their market positions in the future years.
The report also emphasizes several distinctiveness of the global Graphite industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the Graphite industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The graphite market faces solid rivalry from both new and existing industry players. Furthermore, graphite industry suppliers are attempting to acquire potential markets in order to get a competitive advantage over the rest of the industry. Market participants are creating alliances, purchasing other firms and startups, merging and acquiring, developing partnerships and collaborations, and expanding their commercial presence in order to conquer the market.
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. By application type, the market is further segmented as refractory, lubricants, batteries, foundry among others.
The major players of the global Graphite market 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. Renowned companies are offering new Graphite products. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategies to remain competitive in the global market. In December 2018, graphite mining company Syrah resources announced an increase in its graphite mineral resources at its Balama mining site in Mozambique. The company announced an increase of 19% in its flake graphite resources.
Segment Overview of 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)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America