The market is expected to generate an incremental $ opportunity of US$ 10,546.2 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00419 Format: PDF Pages: 280
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.
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.
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:
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|