Graphite Market Global Analysis, Share Report, Size, 2023
Graphite Market Overview:
Graphite is one of the three key minerals used in batteries including lithium and cobalt. It is also used as the anode material in lithium-ion batteries. Hence, as a battery material, Graphite perceives a huge demand in the battery market. It is more than a USD 20 billion a year market, growing at over 20% every year. Owing to the proliferation of smart, personal and battery-operated devices, like cell phones, laptops, and cameras the Graphite market is growing pervasively.
Graphite is used as an essential constituent in the production process across different industry verticals owing to its thermal stability, electrical conductivity, lubricating properties, etc. The widening range of applications for graphite in the production of brake lining, steel, lubricants, foundry facing, refractories, pencils, etc. is accelerating the demand for graphite globally.
Market Research Future (MRFR) has revealed in its latest study that the global graphite market is set to exhibit steady growth during forecast period 2018 to 2023. The increasing application of graphite across various industry verticals is likely to fuel demand globally over the next couple of years.
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Graphite Market Key Players:
Some of the prominent players operating in the global graphite market are Triton Minerals Limited (Australia), Hexagon Resources Limited (Australia), Mason Graphite Inc. (Canada), Focus Graphite Inc. (Canada), NextSource Materials Inc. (Canada), SGL Carbon SE (Germany), Mersen S.A. (France), GrafTech International Ltd. (U.S.), Graphite India Limited (India), and HEG Limited (India), among others.
Graphite Market Regional Analysis:
The Global Graphite market is categorized into five regions based on geography, namely North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among them, Asia Pacific accounts for around 30% market share as of 2018 and is predicted to grow with the healthy CAGR over the assessment period. Asia Pacific market is categorized into China, India, Japan, and Indonesia. Aforementioned countries are predicted to drive the demand for graphite in the upcoming years due to burgeoning steelmaking industries, resulting in the higher consumption of graphite. Moreover, rising demand for energy and increasing graphite-based lithium ion batteries in the Asia Pacific countries is predicted to fuel the growth of the market. In North America, the graphite market is predicted to grow with the highest CAGR during the assessment period, 2018 to 2023. Nuclear power industries are the main areas for graphite consumption in the region.
Manufacturers are shifting their focus in developing and producing more environmentally friendly automobiles which contain release harmful chemicals is driving the electric driven vehicles which consume lithium-based batteries. European graphite market is classified into Russia, Germany, U.K, Spain, Italy, and France. Comparatively Russia and Germany are expected to be the dominant region on account of increasing automobiles production coupled with increasing innovation. Moreover, the robust presence of automobile manufacturers along with the increasing consumption of lubricants is predicted to fuel the demand for graphite over the assessment period. In Central and South America, countries such as Brazil and Mexico are expected to witness significant market growth on account of increasing crude oil production combined with expansion of petroleum refining units. Asia Pacific is predicted to be the healthy growing market due to proliferation of nuclear plants in India and China. Moreover, rising number of passenger cars and heavy-duty vehicles along with increased usage of lubricant is expected to drive the demand for graphite in this region.
Graphite Market Table Of Contents:
1 Report Excerpts
2 Market Definition
3 Research Methodology
4 Forecast Indicators
5 Market Analysis
Graphite Market Table Of Contents to be Continue…….,
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