Global Graphite Market To Amass Huge Earnings of nearly USD 215 million By 2030

Graphite Market Projected To Grow at 2.3% CAGR by 2030 - Report by ZMR

The global graphite industry size was nearly USD 176 million in 2021 and is set to increase to about USD 215 million by 2030 with a CAGR of nearly 2.3% between 2022 and 2030.

Graphite occurs naturally and is the most stable form of carbon. Moreover, it finds a slew of applications in pencils, electrodes, batteries, and lubricants.  Moreover, graphite is a soft crystalline allotrope of carbon and is made up of graphene layers. The compound possesses key metallic features such as high stiffness, strength, and is a good conductor of heat & electricity.

Massive demand for graphite from the refractory sector will expand the scope of growth for the global graphite industry. Surging steel production through the use of the electric arc furnace process is set to enhance the popularity of graphite. As per World Steel Association, the overall steel production in 11 months in 2021 was estimated at nearly 1750 mt up, nearly over a 4% increase as compared to steel production witnessed in 2020 during the same time interval. In addition to this, massive demand for graphite in the production of aluminum is predicted to contribute majorly towards the revenue of the global graphite industry. For the record, as per the World Bureau of Metal Statistics, the overall production of aluminum increased by nearly 3% in 2019-2020. Reportedly, it was recorded at approximately 65 million metric tons in 2020.

However, a rise in export duties on graphite in countries such as China restricting the export of graphite to other countries can put brakes on the growth of the graphite market across the globe. Nevertheless, the rise in the use of green technologies for producing graphite is set to generate new growth avenues for the global graphite market.

The global graphite market is divided into type, application, and region.   

On basis of type, the global graphite industry is sectored into natural graphite and synthetic graphite. Moreover, the synthetic graphite segment is set to contribute majorly towards the global market share during the forecast timespan. The segmental surge over the coming eight years is subject to increase in the application of synthetic graphite electrodes in electric arc steel furnaces due to its beneficial features such as high heat conductivity, good thermal resistance, and low electric resistance. Nonetheless, the natural graphite segment is set to register the highest CAGR of about 7.5% during the period from 2022 to 2030.

The segmental expansion over the forecast timespan can be attributed to the massive use of Li-Ion batteries in vehicles.

Based on application, the global graphite market is divided into refractories, lubrication, battery production, and foundry. Furthermore, the refractories segment is predicted to lead the global market share in the years ahead. The segmental growth over the forecast timeline can be credited to an escalation in graphite penetration in the refractories including high alumina and Al2O3-MgO-C. Apart from this, the rise in demand for graphite for producing crucibles and molds for holding molten metallic components will spur segmental growth. Nonetheless, the battery production segment is set to register the fastest growth rate of nearly 5.9% during the assessment period due to immense use of Li-Ion batteries in consumer electronic products and electric automotives.

The Asia-Pacific region is predicted to establish a leading position in the global market in the next eight years. The growth of the graphite market in the Asia-Pacific region over the forecast period can be attributed to the massive demand for graphite in the automotive, steel production, and consumer electronics sectors.

This review is based on a report by Zion Market Research, titled “Graphite Market By Type (Natural Graphite and Synthetic Graphite), By Application (Lubrication, Refractories, Foundry, and Battery Production), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/graphite-market

Key participants in the global graphite industry include

• GrafTech International Ltd
• HEG Limited
• SEC CARBON LIMITED
• Nippon Carbon Co Ltd
• Graphite India Limited
• Tokai Carbon Co. Ltd
• SGL Carbon S.E.
• Toyo Tanso Co. Ltd.
• SHOWA DENKO K.K.
• AMG Advanced metallurgical Group N.V.

Recent Developments:

• In March 2021, SGL Carbon SE, a carbon and graphite product manufacturing firm based in Germany, was provided with nearly more than €42 million in funds for its graphite anode product by Important Projects of Common European Interest (IPCEI). The move will boost the expansion of graphite business in Europe and across the globe.
• In October 2020, Imerys S.A., a France-based firm in the global mining sector, raised the production of graphite at its Bodio unit in Switzerland. The initiative is aimed at fulfilling the demand for lithium-ion batteries in Asia, North America, and Europe.

Global graphite market is segmented as follows:

By Application

• Lubrication
• Refractories
• Foundry
• Battery Production

By Type

• Natural Graphite
  • Amorphous Graphite
  • Flake Graphite
  • Vein Graphite
• Synthetic Graphite
  • Graphite Electrode
  • Carbon Fiber
  • Graphite Block
  • Graphite Powder
  • Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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