Graphite Market is expected to develop ~6% CAGR during 2023-2029

Total Graphite Market Closings in 2018 were ~3,100 (‘000 tons) according to a new report from PMR on the Graphite Market. As per the review, Graphite market is projected to develop ~6% CAGR during 2023-2029. Graphite is considered one of the most grounded, slimmest and stiffest impermeable materials on the planet, with great thermal and electrical conductivity and extremely high energy productivity. Graphene commercialization utilizing the latest advances and developments is expected to elevate the graphite market over the given timeframe.

The global graphite market was estimated at approximately US$18 billion in 2023 and is expected to reach approximately US$39 billion by the end of the estimated period.

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According to the brief investigation, China is said to have excellent development of graphite in terms of supply and has the widest gap among any country in the world. In addition, the strong interest in graphite for lithium particle batteries and the growing demand from the automotive business, attributed to brand properties of graphite such as excellent energy performance, high mechanical strength and oil, are expected to enhance the development of the graphite market.

For example, in July 2016, Tesla Engines announced it would set up a lithium particulate battery gigafactory to support the production of 500,000 new electric vehicles by 2020. Around 72,000 tons of graphite are said to be used for something very similar.

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The graphite market is a consolidated market due to the presence of several international market participants. Industry players have focused on key developments such as expansion and R&D to meet the increasing demand for graphite generated by end users in different regions like APEJ, Europe, North America, etc.

Graphene is a two-dimensional carbon nanomaterial made of graphite and has several revolutionary properties. Graphene has the potential to revolutionize future technologies and influence various industries, including applications in various industries such as plastics and polymers, medical, coatings, marine, chemical, automotive and construction.

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Few of the major players in the market are

  • AMG Advanced Metallurgical Group NV
  • Showa Denko KK
  • Toyo Tanso Co. Ltd.,
  • SGL Carbon SE,
  • Tokai Carbon Co.
  • Graphite India Limited
  • Nippon Carbon Co Ltd
  • SEC Carbon Limited
  • HEG Limited
  • GrafTech International Ltd.
  • and Imerys SA, among others .

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