Graphite Market 2022
Global Graphite Market to Grow due to Increasing Demand for Graphite from Automotive Industry. According to the research report, the global graphite market was valued at US$13.6 bn in 2019 and is estimated to reach US$32.2 bn by 2027, growing at a CAGR of 5.9% from 2019 to 2027.
Persistence Market Research has published a research report, titled “Global Market Study on Graphite: Battery Segment To Witness Highest Growth by 2027”. This comprehensive research report gives a 360-degrree view of the market dynamics and trends in the global graphite market. Along with presenting key insights, the report offers a SWOT analysis and a Porter’s five forces analysis of the overall market.
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The global market for graphite is experiencing acceleration due to growing usage of graphite in the battery and automotive industry. Graphite is mainly used for making clutch materials, gaskets, exhaust systems, motors, and cylinder heads. Graphite has slowly replaced asbestos, which was used for linings in vehicles and for disk brake pads.
Key Companies-
- 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
- GrafTech International Ltd
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The biggest advantage of graphite is that it creates less noise while braking. Furthermore, graphite is also an important material used in the production of extremely lightweight carbon-fiber reinforced plastic (CFRP), which is mainly used by the aerospace industry and makers of Formula One cars. In recent times, graphite has also been in great demand in the passenger car industry as it reduces the weight of the vehicle, thereby resulting in less fuel consumption and CO2 emissions.
The global graphite market is segmented on the basis of form, end use, and region. The forms of graphite available in the market are natural graphite and synthetic graphite. The synthetic graphite segment is sub-segmented into carbon fiber, graphite electrode, graphite blocks, graphite powder, and others. Graphite is generally used in refractories, lubricants, electrodes, foundries, batteries, and others. Regionally, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
Out of all the geographical segments, Asia Pacific holds the biggest share in the overall graphite market. This dominance is mainly due to the technological advancements in application of graphite in areas of fuel cells, solar power systems, pebble-bed nuclear reactors, and the automotive and aerospace industries.
The biggest contributors to the growth of the Asia Pacific regional market are the emerging economies of India and China. The growing demand for steel and other metals has led to a growth in the demand for graphite electrodes in Asia Pacific, which is subsequently propelling the graphite market.
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