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Press Release: Graphite Market to be valued at US$ 52,042.80 Mn in terms of revenue in 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Graphite is a product of carbon that is widely used across refractories, lubricating agents, and construction applications. It offers excellent thermal shock resistant and high removal rate of metal. Graphite is non-metal material that exhibits high strength, stiffness, excellent good conductor of heat and electricity. They are available in two forms of synthetic graphite and natural graphite.
The global graphite market was valued at US$ 21,403 million in terms of revenue is predicted to grow at a CAGR of 11.2% during the forecast period (2020 to 2027).
Drivers:
The growing adoption of a nuclear pebble bed reactor is propelling the market growth of the graphite. According to researchers at West Virginia University, 500 new pebble reactors, each of 100 GW capacity, are expected to be installed in the U.S. by 2020. Nuclear pebble bed reactor is an advanced version of a high-temperature gas reactor in which a large amount of flake graphite is used as a moderator. According to the Coherent Market Insights analysis, on an average, a pebble bed reactor uses around 3000 tons of graphite. Moreover, robust growth in the automotive industry is predominantly propelling the market growth of the graphite. Graphite is widely used in the manufacturing of automobiles parts such as brake lining, clutch materials, gaskets due to its lightweight, high mechanical strength, and lubrication property. Moreover, it also acts as an excellent conductor of electricity and is an ideal substitute for asbestos. Thus, the growing demand for graphite from the automotive industry is propelling market growth.
APEJ region dominated the global graphite market in 2019, accounting for 34% of revenue share, followed by North America, respectively
Figure 1. Global Graphite Market, Revenue Share (%), By Region, 2019
Market Restraints
The decline in demand for steel across countries such as China, India, and Japan has reduced the consumption of graphite electrodes. Steel and refectory are the major consumers of flake graphite. Thus, a downturn in the steel industry is expected to hinder the market growth of the graphite over the forecast period. In addition, health issues associated with the exposure to graphite is expected to restrict market growth. It can cause shortness of breath, chest pain, coughing, etc. These health-related issues are expected to inhibit the market growth of the graphite over the forecast timeframe.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 21,403 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 11.3% | 2027 Value Projection: | US$ 52,042.80 Mn |
| Geographies covered: |
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| Companies covered: |
AMG Advanced Metallurgical Group N.V., SHOWA DENKO K.K., Toyo Tanso Co., Ltd., SGL Carbon SE, Tokai Carbon Co., Ltd, Graphite India Limited, Nippon Carbon Co Ltd, SEC CARBON LIMITED, HEG Limited, and GrafTech International Ltd. |
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| Restraints & Challenges: |
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Market Opportunities
Robust growth in the manufacturing industries due to rapid urbanization around the globe is projected to offer potential opportunities over the forecast period. Asia Pacific region is contributing to the fastest growth in the market due to strong growth in the end-user industries coupled with the increase in the population. Also, increasing use of graphite in the solar power system and rise in the installation of the solar power system around the globe will favor market growth. The growing use of the graphite in the green technologies is expected to provide profitable opportunities in the near future. An emerging application of graphite such as fuel cell is also contributing to the market growth of the graphite. Moreover, the market of graphite is also gaining tremendous demand from the wind energy industry which is one of the popular green technologies. Thus, the growing use of the graphite in the green technologies is expected to foster the market growth in the near future.
Figure 2. Global Graphite Market – Opportunity Analysis
On the basis of application, refractories dominated the global graphite market in 2019 with around 42% of revenue share, followed by lubricants & cubicle, and others, respectively.
Figure 3. Global Graphite Market, Revenue Share (%), By Application, in 2019
Market Trends
The increasing use of graphite in the chemical industry for various reactions is one of the growing trends. It is used in the reaction tank, absorption tower, heat exchanger, and chemical filler. Moreover, the booming electronic market due to the growing use of electronic products such as laptops, smartphones, tablets, etc. are again expected to propel the market growth of the graphite. Graphite is used in the production of rechargeable and long-life batteries for electronic products. Continuous product innovation by key players due to the growing demand for innovative graphite products is one of the key trends in the market. For instance, in February 2019, Focus Graphite Inc. has announce launch of an innovative suite of Oxidized Graphene products – GNOX™. Graphene oxide is a single-atomic layered material, made by the powerful oxidation of graphite. Relatively low cost and abundant, it is an oxidized form of graphene, laced with oxygen-containing groups that are easy to process.
Global Graphite Market - Impact of Coronavirus (Covid-19) Pandemic
Industries manufacturing graphite have severe economic repercussions owing to Coronavirus (Covid-19) Pandemic. Also, the demand for graphite faced hindrance amidst the ongoing pandemic outbreak. In addition to this, lockdown measures as well as social?distancing guidelines have been triggering delays in project construction and supply chain disruption. Furthermore, restrictions on travel, business activities, and border closures have sharply reduced energy demand in transport and industry. With site access, almost all lockdown measures and guidelines require companies to follow precautionary safety measures. Stricter hygiene protocols certainly may increase the risk of delays and limit the number of workers allowed on site. This is expected to hamper the growth of graphite market for short period.
Competitive Section:
Company Names
Graphite is a product of carbon. It is widely used across lubricating agents, refractories, and construction applications. It offers high removal rate of metal and excellent thermal shock resistant. Graphite is non-metal material that exhibits stiffness, high strength, excellent good conductor of electricity and heat. They are available in two forms of namely natural graphite and synthetic graphite.
Market Dynamics
The high demand for lithium-ion batteries is a prime factor driving the market growth of the graphite. Graphite is used in the production of lining, refractories, and foundry facing. Moreover, increasing adoption of the electric vehicle due to environmental concern coupled with the growing need for fuel-efficient vehicle is fueling demand for lithium-ion batteries and graphite is used for anode materials in lithium batteries. Thus, the growing demand for lithium-ion batteries is expected to propel the market growth of the graphite.
Robust growth in the automotive industry is predominantly augmenting the market growth of the graphite. Graphite is widely used in the manufacturing of automobiles parts such as clutch materials, brake lining, gaskets due to its lightweight, high mechanical strength, and lubrication property. Moreover, it also acts as an excellent conductor of electricity and is an ideal substitute for asbestos.
APEJ region accounted for significant market share in the global graphite market owing to rising adoption of the electric vehicle coupled with the growing need for fuel-efficient vehicle. Additionally, graphite is widely used in APEJ countries for manufacturing of automobiles parts.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
* Browse 25 market data tables* and 20 figures* on "Graphite Market” - Global forecast to 2027.
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