Global Graphite Market Report 2021: Steel Production to Keep Opportunities for Synthetic Graphite Steady
DUBLIN, Nov. 12, 2021 /PRNewswire/ -- The "Graphite Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global graphite market is expected to witness a positive outlook between the forecast years of 2021 and 2025. The demand for graphite will be determined by its usage across applications such as construction, electric vehicles, foundries, refractories, and lubricants amongst others.
According to the research report, the global graphite market is expected to be worth US$26.8 Bn by 2025 from US$16.4 Bn in 2017, registering a CAGR of 8.5% during the forecast years. The high uptake of graphite across industries will be attributable to its excellent properties of thermal shock resistance, stiffness, better strength, and a good conductor of heat and electricity.
Key Insights Into Global Graphite Market:
- Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of 9.5% in terms of value between 2021 and 2025.
- In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.
- Currently, synthetic graphite is the preferred material for battery anode materials. However, in the past few years, a significant shift towards natural flake graphite has been observed due to its cost-competitiveness and performance.
- Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and 2025.
- In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms of value between 2021 and 2025.
- China graphite production is anticipated to consolidate owing to environmental issues. New companies are entering into the graphite space, especially in the processing of natural flake graphite. Graphite is considered as a material of green energy and technology.
Steel Production to Keep Opportunities for Synthetic Graphite Steady
Until 2019, the demand for synthetic graphite accounted for about 60% of the overall graphite demand. Use of synthetic graphite in steel production with electric arc furnaces technology has ensured a steady demand for the material. The demand for synthetic graphite will continue to soar as it remains a preferred material in refractories and foundries due to its ability to remain resistant to high electric currents, proving to be an excellent conductor with superior purity. The dominance of synthetic graphite will be attributable to the burgeoning construction industry, which will demand steel in the coming years. New constructions, as well as refurbishment projects, will bode well for the global market over the forecast years.
Natural Graphite Show Promise of Growth as Flake Graphite Finds Application in Vehicle Batteries
Meanwhile, the demand for natural graphite is also anticipated to pick up pace as its use in Li-on batteries gains prominence. Natural graphite in the flake form is used for manufacturing flexible or expanded graphite, which finds application in lithium batteries. The growing demand and sale of electric vehicles are expected to give this segment a boost during the forecast period. Analysts anticipate that battery storage and thermal management applications will push the demand for natural graphite in the upward direction.
Asia Pacific to Hold Lion's Share in Global Graphite Market
Geographically, Asia Pacific is expected to lead the global graphite market in the coming years with China being a major consumer. The report indicates that China held a 55% volume share in the global graphite market in 2019. The volume of steel produced in this country, which stood at 1,869.9 million tonnes in 2019 is an indicator of this dominance. Analysts also estimate that other developing countries of Southeast Asia and India are expected to contribute to the growth of the regional market. Furthermore, the growing production of Li-on batteries and other battery materials in countries such as Japan and South Korea are expected to present tremendous scope for growth to the market.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics
4. Price Trends Analysis and Future Projects, 2017 - 2025
5. Global Graphite Market Outlook, 2017 - 2025
6. North America Graphite Market Outlook, 2017 - 2025
7. Europe Graphite Market Outlook, 2017 - 2025
8. Asia Pacific Graphite Market Outlook, 2017 - 2025
9. Latin America Graphite Market Outlook, 2017 - 2025
10. Middle East & Africa Graphite Market Outlook, 2017 - 2025
11. Competitive Landscape
- Shenzhen BTR New Materials
- Shanshan Technology
- Showa Denko Materials Co. Ltd.
- Mitsubishi Chemical
- Nacional de Grafite
- Hunan Zhongke Shinzoom Technology Co., Ltd.
- Hensen Graphite
- Aoyu Graphite Group
- Qingdao Haida Graphite Co., Ltd.
- Nippon Graphite Industries, Ltd.
- Superior Graphite Co.
For more information about this report visit https://www.researchandmarkets.com/r/9jlg64
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SOURCE Research and Markets
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