The global Graphite Market is expected to foresee significant growth.
Graphite is consisting of carbon and is considered a non-metallic carbon compound. The graphite is studied into amorphous class and synthetic class depending on the structure and bonding between the carbon atoms. Graphite has the added advantage over other similar classes of compounds such as self-lubrication, and higher tolerance against heat & temperature. Additionally, graphite has the ability to retain its shape and size for a longer duration and is used in several industries for a variety of applications such as heat resistance in refractories, additive for lubrication, as a concrete material for construction, and in the automotive industry for lithium-ion batteries, among many others.
The Graphite Market is expected to grow at a steady rate of around 5% owing to the increasing production of electric vehicles, the growing volume of the steel industries, and due to increasing demand for graphite-made material in the aerospace industries. Furthermore, major companies are continuously spending to research and development related to the sustainability of the materials. For instance, SGL a European organization for synthetic graphite manufacturers for anode materials is developing graphite materials products with higher energy efficiency, increased performance, and more sustainability than the previous version.
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Based on type, the market is segmented into natural graphite and synthetic graphite. The natural graphite segments hold a decent market share in the market for the year 2020 and are expected to remain the same during the forecast period owing to the properties such as friction-resistant, optimal performance, and cost competitiveness. These rich properties of natural graphite allow the manufacturing industries to use natural graphite over synthetic graphite.
Based on application, the graphite market has been classified into lubrication, electrodes, friction products, batteries, refractory, and others. The refractory segment shows significant market share in the year 2020 an expected to remain the same during the forecast period due to their incorporation in chemical, manufacturing, electronics, steel, and other sectors. Refractory graphite is widely used in the metallurgical industry, resistance furnaces, and graphite furnaces due to its ability to withstand higher temperatures.
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For a better understanding of the market adoption of the graphite industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the growing economies in the region coupled with rapid urbanization and industrialization. Furthermore, the increasing demand for li-ion batteries and electronic items propelling the demand for graphite in the region. In addition, emerging countries like China are planning to phase out coal which is used for steel production due to the pollution caused by the burning of coal. Thus, governments are focusing on promoting graphite brick for steel production activities which subsequently grows the demand for graphite in the region.
Some of the major players operating in the market include Graphite India Ltd., Nippon Graphite Industries Co. Ltd, Northern Graphite Corporation, SGL Group, Triton Mineral Ltd., GrafTech International Holdings Inc., Tirupati Carbons & Chemicals Private Limited, Qingdao Xinghe Graphite Co. Ltd., Focus Graphite Inc., and Showa Denko Materials Co. Ltd.
Global Graphite Market Segmentation
Market Insight, by Type
· Natural Graphite
· Synthetic Graphite
Market Insight, by Application
· Lubrication
· Electrode
· Friction Product
· Batteries
· Refractory
· Others
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Graphite India Ltd.
· Nippon Graphite Industries Co. Ltd
· Northern Graphite Corporation
· SGL Group
· Triton Mineral Ltd.
· GrafTech International Holdings Inc.
· Tirupati Carbons & Chemicals Private Limited
· Qingdao Xinghe Graphite Co. Ltd.
· Focus Graphite Inc.
· Showa Denko Materials Co. Ltd.
