Graphite Market is projected to be worth USD 30.56 Billion by 2030, registering a CAGR of 9.35% during the forecast period (2023 - 2030). The production of graphite via temperature treatment of carbon precursors as well as the inclination towards alternatives will shape the industry. The global graphite market report by Market Research Future (MRFR) highlights the production methods, efforts put in quality, and strategies for scaling for the period of 2023 - 2030 (forecast period).
Market Scope
The global Graphite Market Growth is set for a humongous growth spurt during the forecast period owing to demand for the material in aerospace and steel industries. High demand for lightweight aircraft and shift to low carbon emitting vehicles can drive the market growth. In addition, the acceptance of electric and hybrid vehicles is an indicator of the large potential for graphite. The use of graphite in lithium ion powered batteries will bode well for the market.
Increase in steel production and other automotive components such as gaskets, exhaust systems, cylinder heads, motors, and clutch materials will fuel the global graphite market demand. This trend is facilitated by the spike in aircraft production to be used by commercial airlines and government bodies.
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However, regulations pertaining to the use of radioactive elements can restrict the growth of the market.
Segmentation
The global graphite market is categorized on the basis of form, application, and form type.
On the basis of form, the market is bifurcated into amorphous and synthetic.
On the basis of application by form type, the amorphous Graphite Market is categorized into metallurgy, pencil production, refractories, coatings, and lubricants. The metallurgy segment accounted for 36% market share in 2016.
On the basis of application by form type, synthetic graphite market is segmented into aerospace, batteries, carbon brushes, electrodes, and moderator rods.
Regional Analysis
The global graphite market consists of five regions: Asia Pacific (APAC), Europe, Latin America, North America, and the Middle East & Africa (MEA).
APAC is predicted to exhibit a superb growth rate over the forecast period owing to the steelmaking industry. High need for high purity fine graphite in Australia and the large potential presented by electric and hybrid vehicles are likely to fuel regional graphite Graphite Market growth. Efforts and investments in graphite waste management can lead to huge dividends. Investments in new construction projects may bode well for the global graphite market.
North America is expected to deliver remarkably to the global Graphite Market Analysis due to huge energy consumption levels, rising economic growth rate, and improved production capacities of nuclear power plants. The U.S. and Canada are together expected to account for a large chunk of the regional market growth owing to production in vehicle components and batteries.
Competition Outlook
Graphite India Limited, GrafTech International Ltd., Mersen S.A., SGL Carbon SE, Focus Graphite Inc., Mason Graphite Inc., Triton Minerals Limited, HEG Limited, Hexagon Resources Limited, NextSource Materials Inc., and others are key players of the global graphite market. Development of proprietary graphite purification technologies by players can bode well for players. Recently, EcoGraf has successfully trialed its method for recycling lithium-ion anode material in Germany and recovering carbon content over 200%.
Industry News
The panic among the COVID-19 pandemic has left many industry end-users dazed in the industry. However, the state of Tamil Nadu in India giving the green signal for commencement of graphite extraction will bring relief to end-users. It has been granted approval to increase its capacity to 105,000 metric tons per annum from its previous capacity of 60,000 metric tons.
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In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
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