The global graphite market is anticipated to surge at a CAGR of 8.5% over the period of 2021 to 2031, due to high investments in the development of newer technologies to support EV manufacturing, and graphite is a vital cathode material that is used in EV batteries.
Overall, the market is slated to expand 2.3X over the next ten years, thereby offering immense opportunities to market participants.
Augmenting demand from the developing lithium-ion (li-ion) battery industry as well as rise in steel production in Asia and the Middle East are primary factors set to drive market growth in the short term. On the other hand, discovery of substitute anode materials for lithium-ion batteries in high-end applications, strict environmental laws, and impact of the COVID-19 outbreak are all predicted to stifle growth of the global graphite market to some extent.
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The market for graphite is dominated by key players such as Mitsubishi Chemical, Nacional de Grafite, Nippon Graphite Industries, Ltd., Superior Graphite Co., and a few others. The product offering of these players are spread across a wide spectrum, and are designed in unique manner, serving various end-use applications.
Organic approaches have remained a consistent pillar pushing market growth. Players with abundant resources and capital investments are continuously investing in developing synthetic graphite to resolve environmental issues. They have also been working alongside EV manufacturers to offer compact solutions. Most key players have also been focusing on the expansion of their manufacturing capabilities in order to meet growing demand.
Key Takeaways from Market Study
- The global graphite market is anticipated to add 2.3X value by 2031.
- Investment by Phillips 66 to increase existing production capacity of graphite by 30 KT each year by 2025.
- East Asia to capture major chunk of the market and set to create an absolute $ opportunity of around US$ 14 Bn over 2021-2031.
- Among the applications, electrodes and refractories is projected to be the fastest-growing segment globally at a CAGR of 9.1% through 2031.
“Inclination of regulatory bodies towards eco-friendly transportation facilities to wave green flag for graphite industry over coming years,” says a Fact.MR analyst.
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Key actors in the market are using the organic approach to take advantage of opportunities by investing in the research & development of new technologies. Future objectives of economies worldwide are to develop emission-free vehicles and equipment where petroleum products are used for combustion and to produce energy.
Market players are focusing on strengthening their position owing to legislations being favorable and the availability of technological vigor. Few players are even inclining their interests to adopt strategies such as forming collaborations and JVs to increase their revenue generation capacity and involvement in the value chain.
Key Segments of Graphite Industry Research
By Product Type
- Natural Graphite
- Synthetic Graphite
- Natural Graphite
- Refractories & Foundries
- Friction Products
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
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