Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 176 Million | USD 215 Million | 2.3% | 2022 |
FrequentlyAsked Questions
Nuclear pebble bed reactors are an advanced variation of high-temperature gas reactors which require huge amounts of flake graphite for being used as moderators. These reactors reduce power which is far safer and more efficient than conventional reactors.
The global graphite market was valued at $176 million in 2021 and is anticipated to surpass $215 million by the end of 2030. The market is projected to grow with a considerable CAGR of 2.3 % during the forecast period.
Some of the significant players in the global graphite market 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., and AMG Advanced metallurgical Group N.V.
Asia Pacific accounts for the largest share of the global graphite market due to the presence of prominent market leaders and a strong customer base in the region. The fast-proliferating automotive and construction sector in growing economies like China, Japan, and India will further accelerate the growth of the regional market.
Graphite is a naturally occurring type of carbon that can be found in the crust of the earth. In addition to its typical applications as a lubricant, a component in batteries, and a material for the production of high-temperature crucibles and electrodes, graphite is a mineral that is soft, opaque, and black in color.
The carbon atoms in graphite are arranged in layers that are piled on top of one another, giving the material its distinctive three-dimensional structure. Graphite layers are held together by weak intermolecular forces, which also contribute to the material's pliability and suppleness. Graphite can be easily broken into its component layers. Graphite also has a high electrical conductivity, which makes it valuable for a variety of applications in the electronic industry.
It plays a role in the manufacturing process of carbon fiber, which is then utilized in the creation of composites for usage in the aerospace industry and other high-performance applications. Graphite is also utilized in the manufacturing of graphene, which is a single sheet of graphite atoms that possess exceptional electrical and mechanical properties. Graphene is made by layering graphite atoms.
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