(EMAILWIRE.COM, September 30, 2022 ) The global “Graphite Market is projected to reach USD 29.05 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The demand for graphite is directly dependent on the growth of its application industries, including refractory, foundry, battery, friction product, and lubricants. The refractory application segment was the largest segment of the graphite market in 2016, owing to the high demand from the steel industry. The battery application segment is projected to be the fastest-growing application segment in the graphite market, in terms of volume, between 2017 and 2022, due to the growing investments in electric vehicles, energy storage, and portable electronics. Graphite is majorly produced and exported by countries, including China, North Korea, and Brazil, and is imported in the U.S., Japan, Germany, and India.
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Natural graphite is the fastest-growing segment in the global graphite market during the forecast period
Natural graphite is the fastest-growing type in the global graphite market during the forecast period, 2017 to 2022. Natural graphite is preferred by manufacturers across various end-use industries, owing to its low cost. Increasing investments in research & development across the globe for technological advancements in natural graphite to meet the requirements for high end applications at low cost is a key factor expected to fuel the demand for natural graphite in the coming years.
Flake is the fastest-growing subtype of natural graphite in the global graphite market during the forecast period
Flake graphite is the fastest-growing subtype of natural graphite in the global graphite market during the forecast period, 2017 to 2022. It is superior in quality than amorphous graphite, thus has a high demand from end users, and is used in a number of applications, including refractories, and batteries, owing to its high purity and large crystals.
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The Asia-Pacific region is expected to be the fastest-growing in the global graphite market during the forecast period
China is the largest consumer of graphite-based composites in the wind energy industry in the Asia-Pacific. In recent years, several new graphite plants were established in the Asia-Pacific and various long-term agreements were signed between graphite manufacturers in the Asia-Pacific and companies operational in the automotive and wind energy industries in Europe. These developments boosted the growth of the graphite market in the region.
Key players in the graphite market include GrafTech International Holdings Inc.(U.S.), Graphite India Ltd. (India), Triton Minerals Ltd. (Australia), Mason Graphite, Inc. (Canada), and SGL Group (Germany), among others. Major strategies adopted by key players to enhance their businesses include expansions, new product launches, and agreements.
Mason Graphite, a key player in the graphite market, made an additional equity investment of USD 1.0 million in Group NanoXplore Inc. (Canada) in November 2016. NanoXplore will use the funds to increase the production of graphene from 4 to 64 metric tons per year.
Focus Graphite, another key player active in the graphite market, signed a USD 1.0 million agreement with Grafoid Inc. (Canada) in September 2015 for the purchase of 1,000 tons of graphite for a 10-year period. It also granted Grafoid the right of first refusal to extend and expand the agreement for an additional 10-year period.
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