Graphite Market Size is Projected to Reach USD 21.6 Billion by 2027 at CAGR 5.3% | Valuates Reports
Jan 04, 2021, 08:30 ET
BANGALORE, India, Jan. 4, 2021 /PRNewswire/ -- The Graphite Market is Segmented by Type (Natural Graphite, Synthetic Graphite), by Application (Refractories, Lubrication, Foundry, Battery Production), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Chemical Industry Category.
The global graphite market was valued at USD 14.3 Billion in 2019, and is expected to reach USD 21.6 Billion by 2027, registering a CAGR of 5.3% from 2020 to 2027.
The major factor driving graphite market size growth are various end-user applications in industries such as electric vehicles, refractories, foundry, lubricating agents, construction applications, and others. Furthermore, the lithium-ion battery industry's high demand and significant steel production through graphite electrode electric arc furnaces are expected to fuel the graphite market size.
The report provides an extensive qualitative and quantitative analysis of the current graphite market trends and future estimations of the global graphite market from 2020 to 2027 to determine the prevailing opportunities.
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TRENDS INFLUENCING THE GRAPHITE MARKET SIZE
The global graphite market is driven mainly by the high demand for lithium-ion batteries worldwide to facilitate the adoption of electric vehicles. In addition, substantial steel production by means of an electric arc furnace, consisting of a graphite electrode, is fueling the growth of the graphite market during the forecast period. Graphite is a central compound in lithium ion-powered batteries. Increased demand for electrically powered vehicles using lithium-ion batteries is expected in the forecast period. In addition, graphite is an important material used in automotive gaskets, clutch components, engines, exhaust systems, and cylinder heads.
The increasing application in the aerospace industry is expected to increase the growth of the graphite market size. Graphite is commonly used in the aerospace industry as it promotes the production of light structural components that help increase fuel efficiency. Graphite has a high strength-to-weight ratio compared to conventional aerospace products, such as metals and plastics, among others. This enables efficient designs to be made, both structurally and aerodynamically. Aircraft manufacturers such as Boeing and Airbus are gradually using graphite composites.
Graphite is also suitable for use in military applications where high heat tolerance, strength, and stiffness are needed. This, in turn, is expected to fuel the graphite market size.
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GRAPHITE MARKET SHARE ANALYSIS
The synthetic graphite segment is expected to hold the largest market share during the forecast period. This is due to the increase in demand from the steel and battery industry. This rise in demand from the steel and battery industries is due to an increase in the use of graphite electrodes.
Asia-Pacific held the largest graphite market share in 2019. The graphite market growth in Asia-Pacific is driven by rapid industrial development in countries such as China, India, and Japan and by the consequent rise in graphite consumption in the automotive, wind, and electrical and electronics industries.
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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GRAPHITE MARKET SEGMENTATION
- Battery Production
- Triton Minerals Limited,
- Showa Denko K.K.,
- Graf tech International Holding,
- Nippon Graphite Industries Co., Ltd.,
- Tokai Carbon Co., Ltd.,
- Focus Graphite, Inc.,
- West water Resources, Inc.,
- Next source Materials, Inc.,
- Northern Graphite Corporation,
- Mason Graphite, Inc.
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SIMILAR REPORTS :
- Synthetic Graphite Market size was USD 8454.8 Million, and it is expected to reach USD 8636.1 Million by the end of 2026, with a CAGR of 0.3% during 2021-2026.
In 2016, the global Synthetic Graphite market was dominated by China, capturing about 31% of global Synthetic Graphite production.
The USA held the second-largest synthetic graphite market share of about 16%. Japan follows the USA with 15% while Europe and India took about 12% respectively in 2016.
- Specialty Synthetic Graphite Market is Segmented by Type Isotropic Graphite, Extruded Graphite Molded Graphite, by Application Photovoltaic Industry, Semiconductor Industry, Electrical Discharge Machining, Foundry & Metallurgy Field and by various regions.
- Graphite Electrodes Market size is projected to reach USD 10420 Million by 2026, from USD 9333.1 Million in 2020, at a CAGR of 1.9% during 2021-2026.
The industry's Top 3 manufacturers are Showa Denko K. K, GrafTech International, and Fangda Carbon New Material, which accounted for 18.94%, 17.51%, and 12.69% of revenue in 2019 respectively.
- Isotropic Graphite Market size is projected to reach USD 1303.6 Million by 2026, from USD 1030.3 Million in 2020, at a CAGR of 4.0% during 2021-2026.
Asia-Pacific is the largest market in the world. And China in this region reached a consumption volume of the market share of approximately 55% in 2019.
The major Isotropic Graphite enterprises are concentrated in Japan, the USA, Europe, and China. The top three manufacturers are Toyo Tanso, Tokai Carbon, Mersen, with a global market share of 16%, 12%, and 10%, respectively, in 2019.
- Expanded Graphite Market size is projected to reach USD 173.1 Million by 2026, from USD 128.4 Million in 2020, at a CAGR of 5.1% during 2021-2026.
The increasing demand for consumer electronic goods such as laptops, smartphones, and tablets is expected to drive the growth of the expanded graphite market size. These electronic devices employ graphite foils manufactured from expanded graphite. Graphite foils have excellent electric and thermal conductivity; hence, they dissipate heat from crucial electronic components and protect them from any damage.
- Special and Extruded Graphite Market is Segmented by Type Detail Graphite, Medium Coarse Graphite (Grain Size 0.8mm), Electrode Graphite (Grain Size 2-4mm), by Application Electric Motor Brushes Photovoltaic Industry, Semiconductor & LED Industries, High Temperature Furnaces, Metal Industry, Glass and Refractory Industries and by various regions.
- Silver Graphite Market is Segmented by Type 1-5 μm, 5-40 μm, 20-160 μm, by Application Circuit Breakers Low Voltage Contactors, Non-Welded Contactors, High Altitude AC Motor Brushes, and by various regions.
- Graphene Market size valued at USD 91.3 Million in 2019, and is projected to reach USD 1,369.1 Million by 2027, growing at a CAGR of 40.2% from 2020 to 2027.
- Graphene Nanocomposites Market is Segmented by Type Graphene Oxide (GO), Graphene Nano Platelets (GNP), Graphene Polymer, by Application Packaging, Building & Construction, Electronics & Electrical, Automotive, Medical and by various regions.
- The Graphene Nanomaterial Market is Segmented by Type Graphene, Graphene Oxide, by Application Catalyst, Energy, Sensors, Coatings and by various regions.
- The Graphene Nanoplatelet Market is Segmented by Type Hydrophobic, Hydrophilicity, by Application Composites, Energy & Power, Conductive Inks & Coatings and by various regions.
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