Flake Graphite Market to Reach $43.58 Billion by 2031 at 5.2% CAGR: Coherent Market Insights

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Jan 15, 2024, 23:02 ET

BURLINGAME, Calif., Jan. 15, 2024 /PRNewswire/ -- Coherent Market Insights has recently published a report, titled, Flake Graphite Market, by Application (Battery, Lubricant, Refractory, and Others), by End-use Industry (Automotive, Electrical, Chemical, Nuclear, Paints &Coatings, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2031". According to the report, the global flake graphite market generated $29.05 billion in 2023, and is anticipated to generate $43.58 billion by 2031, witnessing a CAGR of 5.2% from 2024 to 2031.

The flake graphite market is expected to experience significant growth due to the increasing demand from the battery industry. Flake graphite is widely used in lithium-ion batteries, which are extensively utilized in portable electronic devices, electric vehicles, and renewable energy storage systems. The growing adoption of electric vehicles and the increasing focus on renewable energy sources are driving the demand for lithium-ion batteries, thereby fueling the demand for flake graphite. Moreover, advancements in flake graphite production techniques, such as the use of advanced milling and purification processes, are also contributing to market growth.

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Another driver for the flake graphite market is the growing demand from the steel industry. Flake graphite is used as a lubricant in the production of steel, which reduces friction in the manufacturing process. As steel production continues to rise, particularly in emerging economies, the demand for flake graphite is expected to witness steady growth.

Market Trends:

One of the key trends in the flake graphite market is the increasing focus on sustainable graphite mining practices. Many companies in the industry are adopting environmentally friendly mining techniques to minimize the impact on surrounding ecosystems. This includes deploying advanced technology and implementing stringent environmental regulations to reduce pollution and ensure responsible resource extraction.

Another trend in the market is the rising demand for expanded graphite. Expanded graphite is a highly versatile and lightweight material that is used in various industries, such as automotive, construction, and electronics. Its unique properties, including excellent thermal conductivity and fire-resistant characteristics, make it suitable for a wide range of applications. The increasing adoption of expanded graphite in various end-use industries is driving the demand for flake graphite.

Market Opportunities:

The flake graphite market has a significant opportunity due to the increasing demand for lithium-ion batteries. Graphite is a critical component in lithium-ion batteries, which are extensively used in electric vehicles and consumer electronics. As the global shift towards clean energy and sustainable transportation continues, the demand for lithium-ion batteries is expected to surge. This rise in demand presents a lucrative market opportunity for the flake graphite market.

Another important market opportunity for the flake graphite market lies in the growing demand from the refractory industry. Flake graphite has excellent thermal conductivity and high resistance to heat, making it a preferred material for refractory applications, such as steelmaking and foundries. With the rapid industrialization and infrastructural development in emerging economies, the demand for refractories is anticipated to increase. This will drive the demand for flake graphite in the refractory industry, creating significant market opportunities.

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Market Takeaways:

Key Market Takeaways: Flake Graphite Market is anticipated to witness a CAGR of 5.2% during the forecast period 2022-2028, owing to the increasing demand for lithium-ion batteries and the growing demand from the refractory industry.

On the basis of application, the battery segment is expected to hold a dominant position in the flake graphite market. This can be attributed to the surge in the demand for lithium-ion batteries in electric vehicles and consumer electronics. The battery segment is projected to witness substantial growth due to the shift towards clean energy and the need for sustainable transportation.

In terms of end-use industry, the automotive sector is expected to dominate the flake graphite market. This is driven by the growing adoption of electric vehicles, where flake graphite is a crucial component in lithium-ion batteries. The automotive industry's transition towards electric vehicles is fueling the demand for flake graphite, creating significant growth opportunities.

Regionally, North America is expected to hold a dominant position in the flake graphite market. This can be attributed to the presence of major automotive manufacturers and the increasing investments in electric vehicle infrastructure. North America's focus on sustainable transportation and clean energy will drive the demand for flake graphite in the region.

Key players operating in the flake graphite market include GrafTech International Ltd., AMG Advanced Metallurgical Group N.V., Asbury Carbons, Kaiyu Industrial (Hk) Limited, Mason Graphite Inc., Triton Minerals Ltd., and Northern Graphite Corporation. These key players are actively involved in product development, strategic partnerships, and mergers and acquisitions to strengthen their market position in the flake graphite market.

Recent Development:

In April 2019, Mineral Commodities (MRC) declared that it has acquired all of Skaland Graphite AS shares. The purchased company owns about 10kt per annum of graphite annulay and owns the Trælen Mine and Skaland processing plant in Norway.

In October 2019, the completion of Mineral Commodities (MRC) announced by Mineral Commodities (MRC). Through the acquisition, MRC will be able to produce graphite in Europe at a rate of up to 10,000 tpa, with permission from in regulators' to reach 16,000tpa.

In conclusion, the flake graphite market presents significant market opportunities due to the increasing demand for lithium-ion batteries and the growing demand from the refractory industry. The dominant position of the battery segment and the automotive industry, along with North America's leading market share, are key market takeaways. The key players in the flake graphite market are continuously working towards innovation and partnerships to capitalize on the market opportunities and maintain their competitive edge.

Read complete market research report," Flake Graphite Market, by Application, by End-use Industry, and Others, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.

Market Taxonomy

The global flake graphite market is segmented into:

By Application

Battery
Lubricant
Refractory
Others

By End-use Industry

Automotive
Electrical
Chemical
Nuclear
Paints & Coatings
Others

By Region

North America

U.S.
Canada

Europe

U.K.
Germany
Italy
France
Russia
Spain
Rest of Europe

Asia Pacific

China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific

Latin America

Brazil
Mexico
Argentina
Rest of Latin America

Middle East

GCC
Israel
Rest of Middle East

Africa

Northern Africa
Central Africa
South Africa

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