Global Spherical Graphite Market to Surpass USD 4,084 Mn By 2031| Growth Market Reports

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Jun 26, 2023, 10:30 ET

PUNE, India, June 26, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Spherical Graphite Market Segments - By Type (Natural and Synthetic), By End-user (Electric Vehicles, Energy Storage Systems, and Consumer Electronic Devices), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 652 Mn in 2022 and is expected to surpass USD 4,084 Mn expanding at a CAGR of 22.6% by the end of 2031. The market is attributed to the rising demand for lithium-ion batteries for achieving sustainability goals.

Key Market Players Profiled in the Report

Graphex Group
Superior Graphite
NovoCarbon
QINGDAO MINGHEDA
GRAPHITE NEW MATERIAL CO., LTD
BariteWorld

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, end-user, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Regional Highlights:

On the basis of region, the global spherical graphite market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is projected to dominate the global market, due to the rising demand for the energy storage system, electric vehicles, and consumer electronic devices. Furthermore, increasing production of Li-Ion batteries in countries like China, South Korea, and Japan is likely to fuel the market in the region.

North America is expected to be a rapidly growing region in the global market during the projected period, owing to the high demand for electric vehicles, as it emit less carbon compared to fuel-based vehicles.

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Key Takeaways from the Study:

Spherical graphite is a battery-grade graphite and has high crystallinity and low charge.
It is used in the anode component in lithium-ion batteries and helps in the charging of the cell.
Rising usage of lithium-ion batteries to power electric vehicles and grid-scale energy storage stations is expected to boost the demand for spherical graphite.
Increasing adoption in the energy storage system to save energy is likely to fuel the market. Spherical graphite helps to maintain the temperature in the energy storage media up to 1650⁰C.
Rising graphite exploration and battery production worldwide are projected to create significant opportunities in the market.
The natural segment is projected to expand at the fastest CAGR during the forecast period, owing to the increasing demand for electric vehicles and portable gadgets.
The electric vehicle segment is anticipated to hold a major share of the market due to the growing concerns regarding climate changes.

Read 234 Pages Research Report with Detailed TOC on "Global Spherical Graphite Market

Segments - By Type (Natural and Synthetic), By End-user (Electric Vehicles, Energy Storage Systems, and Consumer Electronic Devices) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

Natural
Synthetic

End-user

Electric Vehicles
Energy Storage Systems
Consumer Electronic Devices

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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