Graphite Market, By Graphite Type (Natural Graphite and Synthetic Graphite), By Application (Battery, Lubricant, Refractory, and Others), and By End-use Industry (Automotive, Electrical, Chemical, Paints & Coatings, Nuclear, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Graphite is an allotrope of carbon with crystalline structure and has both metallic and non- metallic properties. Metallic properties of graphite include thermal and electrical conductivity and the non-metallic properties include lubricity, chemical inertness, and thermal resistance. Furthermore, there are two grades of graphite available, including high-purity & high-cost synthetic graphite, and lower-cost-purity natural graphite. Mining of the natural graphite often requires various mineral processing such as froth flotation to increase the graphite concentration, as mined natural graphite often contains other minerals. Natural graphite has excellent electrical and heat conductivity and is a high refractory material. Refractories for the steel industry is a major market for natural graphite. Furthermore, synthetic graphite is produced using raw materials such as petroleum coke and tar pitch with higher purity as compared to natural graphite. It has higher porosity, lower density and higher electrical resistance. Synthetic graphite are majorly used as moderator rods in nuclear power plants, electrodes for metallurgical processing and electrical furnaces, and in the manufacturing of batteries and carbon brushes.

Market Dynamics

Growing application of graphite in the automotive industry including graphite filament and in the production of various components where graphite is used as a core material such as motors, disk brake linings & pads, cylinder heads, exhaust systems, and gaskets is fuelling growth of the market. Graphite is extensively used as an active anode material in lithium-ion batteries and the growing demand for advanced energy storage products such as lithium-ion batteries is aiding in growth of the graphite market as well. According to the Coherent Market Insights’ analysis, the global advanced energy storage market was valued at US$ 11.79 billion in 2016 and is expected to exhibit a CAGR of 8.88% during 2017–2025.  Moreover, rising demand for ultra-lightweight materials in aircraft components such as carbon-fiber reinforced polymers (CFRP), is aiding in growth of graphite market, as graphite is majorly used in the production of CFRPs. According to the Clean Energy Manufacturing Analysis Center (CEMAC), in 2012, demand for carbon fiber end products was highest in Europe and was estimated to be 16,650 tons, which was 37% of the world’s total demand for carbon fiber end products. Additionally, growing application of graphite in fuel cells and nuclear energy is expected to boost growth of the graphite market during the forecast period.

Market Outlook

In terms of revenue, Asia Pacific is expected to be the fastest growing market for graphite during the forecast period. Rapid industrialization in emerging economies including India and China is fuelling demand for graphite in the region, as graphite is used in a wide range of industries such as automotive, chemical, and nuclear. According to the United States Geological Survey (USGS), China was the leading country in the world mine production of graphite in 2012 and in 2016, China was projected as the largest supplier of flake and amorphous grades of natural graphite and accounted for around 68% of the global graphite production. Furthermore, rising fuel prices, steadily growing awareness regarding eco-friendly electrical vehicles with graphite using li-ion batteries is fuelling growth of the market in the region. According to the data by Asia Pacific Economic Corporation (APEC) in 2017, Asia Pacific is the largest new vehicle market in the world and the largest emerging market in the new energy vehicles (NEVs). Furthermore, Chinese government is supporting and promoting use of new energy vehicles, owing to rising concerns regarding air pollutants through vehicles and the country has set the target of having 5 million plug-in hybrid vehicles (PHEVs) and battery- electric vehicles on the road by 2020. This in turn, fuelling growth of the graphite market in the region.

In 2017, North America accounted for significant share in the global graphite market with U.S. being the major contributor. However, graphite mining had faced stagnation and has not been mined in the country since 1990’s, according to the United States Geological Survey (USGS). As a result, the U.S. now imports graphite from countries such as China, Canada, Brazil, and Mexico, to cater to growing demand for graphite in the country. According to the USGS, in 2015, the U.S. imported 47 thousand metric tons and consumed 24,200 tons of natural graphite valued at US$ 25.60 Mn, in 2016. Furthermore, high demand for computers, smart phones, mobile devices, and other electronic products with battery containing graphite is driving growth of the market. According to the United States Department of Commerce, shipments for the computer and electronic products from U.S. manufacturing sector was valued at US$ 5.7 trillion in 2012. 

Key Players and Business Strategies

Major players operating in the global graphite market include GrafTech International Ltd., AMG Advanced Metallurgical Group N.V., HEG Ltd, Graphite India Limited, Tokai Carbon Co. Ltd., Toyo Tanso Company Ltd., Showa Denko K.K., SEC Carbon Ltd., Mason Graphite Inc., Triton Minerals Ltd., and Northern Graphite Corporation.

Key players are adopting various business strategies such as product development, strategic collaborations, and mergers & acquisitions, in order to retain their market share. For instance, in November 2017, the Tokai Carbon Company Ltd. acquired the U.S. subsidiary, SGL GE Holding GmbH, which is involved in the manufacturing of graphite electrodes. The acquisition is anticipated to enhance the company’s business in North America region.

Graphite Market Taxonomy

Based on the type, the graphite market is segmented into:

  • Synthetic Graphite
    • Graphite block
    • Graphite Electrode
    • Graphite powder
    • Carbon fiber
    • Others
  • Natural Graphite
    • Flake Graphite
    • Amorphous Graphite
    • Vein Graphite

Based on application, the graphite market is segmented into:

  • Battery
  • Lubricant
  • Refractory
  • Others

Based on end-use Industry, the graphite market is segmented into:

  • Automotive
  • Electrical
  • Chemical
  • Nuclear
  • Paints and Coatings
  • Others

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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