Graphite Market

Graphite Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Graphite Market grew at a CAGR of 4.8% between 2017-2021 and is estimated to be US$ 15,974.6 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.2 % and is expected to reach a valuation of US$ 26,520.8 Mn by 2032 end.

The increasing use of graphite in the above-mentioned industries is owing to its several advantages such as reduced wear, ease to machine, thermal shock resistance, high metal removal rate, and others.

Market Dynamic

VARIOUS USES IN THE END-USE INDUSTRY WILL BOOST THE MARKET FOR GRAPHITE

Graphite is one of the most versatile materials used in industry today. It is used in commercial and industrial applications due to its excellent properties such as high strength, good conductivity, and low-temperature performance. The increasing use of graphite in the above-mentioned industries is owing to its many advantages such as reduced wear, ease to machine, thermal shock resistance, high metal removal rate, and others. There are two different forms of graphite, which include natural graphite and synthetic graphite.

STRINGENT GOVERNMENT REGULATION HAMPERS THE MARKET GROWTH

Graphite mining and production can create environmental problems. Pollutants discharged into the air, water and land are a major concern. In addition to this, waste materials generated during the process such as dust can also cause extensive harm. These factors have led to government regulations being imposed on graphite mining companies, as well as requiring them to follow a set of regulations and processes that minimize the impact on the environment.

GROWING CONSTRUCTION PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

The graphite industry is expected to be benefited from the growth of construction industries across the globe. The global construction industry has witnessed significant growth in recent years, which is attributed to the demand for construction materials in new and existing structures.

COVID-19 Impact

Most countries have imposed restrictions and quarantines to ensure that no COVID-19 viruses can be transmitted to their citizens. This has delayed the return of people in many industries such as mining, construction, metallurgy, and chemicals to work. The shutdowns of mining plants, construction sites, and service stations led to a decrease in demand for graphite products as well.

However, it is anticipated that the adoption of batteries and, therefore, the Graphite systems will expand due to the growing raw material used in electric vehicles and lithium-ion batteries in operational projects and the growing government focus on upgrading the electric Vehicle sector. The market value might not catch up to the pre-COVID-19 value until 2027.

Market Segments Covered in Report

By Product Type:

• Natural Graphite
  • Flake
  • Amorphous
  • Vein
• Synthetic Graphite
  • Graphite Electrode
  • Carbon Fiber
  • Graphite Blocks
  • Graphite Powder
  • Others

By Application:

• Refractories
• Lubricants & Crucible
• Foundry Facing
• Batteries
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are Graphite-based refractories projected to ensure the most revenue during the forecast period?

Graphite-based refractories held the largest share of the graphite market in 2021, with a revenue share of over 30.0%. This ownership is attributable to factors such as graphite blocks made in refractories is used in various industries such as metal manufacturing, electronics, chemical, steel, and other fields but the main user is the metallurgical sector as such blocks are used for graphitization furnace, metallurgical furnace and resistance furnace. The rapid development and increase in production of the metal manufacturing sector have led to more usage of graphite-based refractories.

Why is the natural graphite segment expected to expand the fastest during the forecast period?

In 2021, The graphite market is projected to grow along with all the emerging trends. The largest share of natural graphite in the global graphite market is attributed to its large cost effectiveness, high productivity, and consumer preferences for quality products. Natural white mao-ching graphite has excellent lubricating properties and is suitable for oil refining processes.

Japan and China in particular are major consumer markets for natural graphite due to their traditional industries such as steel making, which have been heavily dependent on natural graphite as a conductor.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, The Asia-Pacific region accounted for the largest share of the graphite market, with over 59.4% share in 2021. This core factor like the region consisting of countries like China, India, Japan, and South Korea has major end-users of graphite across the automotive sector, construction sector, metallurgical sectors, and others is the main contributor to this growing trend.
• Graphite, an important material in the lithium-ion battery system, is expected to witness high demand in the U.S. market during the forecast period as its application areas have been expanding rapidly. The increasing production of electric vehicles in the country has boosted the demand for lithium-ion batteries, which has further resulted in a surging graphite consumption.

Competition Analysis

By strategically expanding into emerging economies to set up their mines and manufacturing facilities, major manufacturers are increasing their presence on the graphite market all over the world while minimizing capital expenditures (CapEx) and operating costs and maximizing profit.

Some of the key developments that have taken place in the Graphite Market include:

• In 2020, Elkem ASA chose the Herya Industrial Park in Porsgrunn, Norway, as the optimum location for the construction of a sizable plant for the local manufacturing of battery graphite. Numerous green jobs will be created in the area by the Northern Recharge plant.
• In 2020, Black Swan Graphene is a joint venture that Mason Graphite Inc. and Thomas Swan Co & Limited established. Therefore, the partnership will make it possible for Mason Graphite to utilize Thomas Swan’s graphene processing technology, creating a significant demand for graphite for the business.

A list of some of the key suppliers present in the market are:

• Showa Denko Materials Co., Ltd
• BTR New Materials Group Co. Ltd
• GrafTech International Holding Inc.
• Mason Graphite Inc.
• SGL Group
• Triton Mineral Ltd.
• Nippon Graphite Industries Co. Ltd
• Northern Graphite Corporation
• Syrah Resource Limited
• Graphite India Ltd.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.