Graphite is a naturally occurring carbon available in the crystalline form. It is soft and has a very low specific gravity with high thermal and electrical stability. Due to this property, it is widely used in the manufacturing of refractories and electrodes under high-temperature steel manufacturing applications. Some of the major end-user of graphite are automobile, moderator rods, metallurgy, coatings, pencil production, and batteries.
Market Statistics:
The global graphite market is expected to surpass US$ 48,970.0 Mn in terms of value by the end of 2028.
Global Graphite Market: Drivers
The high demand for lithium-ion batteries is a prime factor fueling the market growth of the graphite. Graphite is used in the production of refractories, lining, and foundry facing. Moreover, increasing adoption of the electric vehicle due to environmental concern coupled with the growing need for fuel-efficient vehicle is driving 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 foster the market growth of the graphite.
Global Graphite Market: Opportunities
The growing demand for fuel-efficient aircraft is projected to bring new opportunities for the market of graphite. It is used in the manufacturing of lightweight aircraft. Increasing consumption of the lightweight and fuel-efficient aircraft due to growing environmental concern is driving demand for graphite. Thus increasing production of aircraft and sale around the globe due to robust growth in the travels and tours industry is projected to foster the market growth of the graphite over the forecast period.
Global Graphite Market: Recent Developments
- On 24 February 2021, The Supervisory Board of AMG Advanced Metallurgical Group N.V. nominated for reappointment Dr. Heinz Schimmelbusch and Mr. Eric Jackson for additional terms of two and four years, respectively, when their current terms expire in 2021.
- On 4 May 2021, Toyo Tanso recently launched Virtual Showroom on "Product Website. This contents will help customers to understand features or applications of their products carbon and graphite by introducing them through videos.
- On 23 August 2021, SGL Carbon announced investment into modernization of its Morganton site. SGL Carbon is modernizing its production for porous and extruded graphite investing around million 10 USD at its site in Morganton, North Carolina, USA until the end of 2022. Porous graphite is important for the manufacture of high-power semiconductors as it is a key element for the equipment to produce silicon carbide (SiC) crystals.
Global Graphite Market: Restraints
Low production in China due to the slowdown of the mining industry in the region is hampering market growth. This is due to the increasing implementation of the various strict environmental rules and regulations which has reduced the graphite production in the country and this is projected to hinder the market growth of the graphite in the near future.
Covid-19 Impact Analysis:
Globally, as of 5:41pm CEST, 21 September 2021, there have been 228,807,631 confirmed cases of COVID-19, including 4,697,099 deaths, reported to WHO. As of 20 September 2021, a total of 5,776,127,976 vaccine doses have been administered. The COVID-19 pandemic led to shut down of production in its early days with a view to protect employees from the infection. For instance, in March 2020, Graphite Cova GmbH German group of companies, wholly-owned subsidiary of Graphite India Ltd., decided to gradually and completely shut down production.
Key Takeaways:
- The global graphite market was valued at US$ 18,682.5 Mn in 2020 and is forecast to reach a value of US$ 48,970.0 Mn by 2028 at a CAGR of 13.2% between 2021 and 2028.
- The Refractory segment was valued US$ 7,892.68 Mn in 2020 and is expected to witness a CAGR of 14.7% over the forecast period. The growth of this segment can be attributed to the rapid industrial development and the increased demand for graphite from industries, such as automotive, construction, aerospace, and metal production, among others in the region.
To know the latest trends and insights prevalent in the Global Graphite Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/graphite-market-1563
Market Trends
The increasing disposable income of the consumers coupled with the growing consumption of nuclear energy in North America is stimulating the market growth of the graphite. Moreover, an increase in the investment by the government on defense industry coupled with the rising number of construction projects across India, Brazil, and Argentina countries is again expected to foster market growth. Also, substantial growth in the sale of passenger cars in Brazil is again expected to propel the market growth over the forecast timeframe.
Growing strategic partnerships and agreement among key manufacturers for market expansion and to sustain in the industry is an emerging trend. For instance, in October 2019, Battery Minerals has signed an agreement with US-based graphite processing specialist Urbix with the goal of establishing a graphite treatment joint venture in south-east Africa. The agreement emphasizes the foundation for establishing the development of an environmentally-friendly graphite purification facility in Mozambique.
Global Graphite Market: Competitive Landscape
Major players operating in the global graphite market include, 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.