The global graphite market size is anticipated to reach $28.33 billion by 2026, growing at a CAGR of 4.9% during the forecast period, according to a report published by Polaris Market Research. The report ‘Graphite Market Size By Product Type (Natural Graphite and Synthetic Graphite), By Application (Foundry, Refractory, Battery, Lubricant and Others), By Regions Segments Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
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Tremendously increasing demand for aluminium steel, and other metals from a large array of end-use industries has primarily driven the market demand. Synthetic graphite is a major contributing product to the market growth as it is immensely essential for the manufacturing of steel by making use of processes such as electric arc furnace. Also, metallurgy applications largely make use of graphite electrodes. In addition to this, growing number of technologically developed outlets around the globe that vary from graphene to fuel cells is also anticipated to enhance the sales revenue of the product.
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Carbon fibre which is a graphite product-type has witnessed tremendously high growth for the past five consecutive years on account of its crucial requirement and thus growing demand from numerous end-use industries such as aerospace, automotive, wind turbine and few others. High strength and light-weight properties of carbon fibre are the crucial characteristics for its rapidly growing demand over any other substitute.
Advancements and exploitations of graphite has witnessed considerable increase in the recent path. This is observed on account of several developmental scenarios such as contained graphite, enterprise value, deposit reserve, and location feasibility availability. Some other associated factors include improvisation of logistics segment, authenticity in product purity, off take agreements, flake size distribution, and technology development has strengthened the potential of cutting down production timeframe.
Considerably growing product demand from several industrial uses is primarily attributed to the deposit of high-grade flake graphite coupled with the reduced stripping ratios. Also, amendments in the jurisdictions has resulted in ease of cross-country logistics, reduced manufacturing timeframe, and off-take contracts. Recent product demand is directly by numerous industrial applications such as lubricants, automotive, refractory, and batteries. As hi-tech battery anodes are mainly pushing product demand, refractories consumption for the steel industry has been a primary application segment for manufacturing and utilization of naturally occurring graphite, which is coupled with the worldwide steel production.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Graphite Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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Competitive Landscape and Key Vendors:
Graphite includes a globally fragmented industry coupled with the numerous multinational market players. Asia Pacific region is also among the top consumers of graphite across the world Other significantly substantial consumers include the U.S., Japan, India, South Korea, Russia, and Germany. The product demand is scattered mainly in the developed counties, such as those in the Western Europe, the U.S., China, and Japan. China is estimated to be a dominating country for the natural graphite segent whereas production of synthetic graphite is likely to be distributed in both the developed and developing countries wherein each manufacturer plays a primary role in maintaining the global demand supply figures.
Some of the major market players for the industry include:
Tokai Carbon Co. Ltd., Toyo Tanso Co. Ltd., HEG Limited, Graftech International Ltd., Graphite India Limited, Mersen Group, Energizer Resources Inc., SGL Group, Triton Minerals Ltd Mason Graphite, Inc., Focus Graphite Inc., and Hexagon Resources Limited.
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