The Global Graphite Market is majorly driven by technological advancement in automobile and electronics industry, according to our research report “Global Graphite Market Outlook 2023”. The global graphite market is segmented into product type such as natural graphite and synthetic graphite. Among these segments, synthetic graphite is expected to be the fastest growing market owing to wide-scale application and rising demand in automobile industries.
The global graphite market is predicted to expand significantly at a CAGR of 10.52% over the forecast period i.e. 2016-2023. Moreover, the global graphite market accounted for USD 15.2 Billion in 2015. The graphite market of Asia-Pacific is estimated to register at a CAGR of 4.5% over the forecast period. Moreover, the market accounted the largest revenue share of 66.2% in 2015 in overall graphite market across the globe.
Advancements in Automotive and Electronic Devices:
Factors like introduction of battery operated automobiles, technological advancements in steel and automobile sector, researches on compatible and high efficiency graphite batteries, rising demand of graphite electrode owing to its effective thermal and chemical properties, rising initiative to shift the industries towards energy efficient are prompting the demand for Graphite over the forecast period i.e. 2016-2023.
Rapid Growth in Mining Industry:
Rising export and import of elements such as graphite owing to miscellaneous applications in automobile industries, increasing investments in mining industry, rapid exploration of graphite mines across the globe, increase of funding in automobile sector and steel refractories industry are some of the major key factors further trigger the demand for graphite in near future.
However, high cost of extraction which further increase the cost of graphite, limited mines of graphite needs long transportation and handling facilities, slowdown in mining in several nations owing to economic crisis are some of the factors likely to inhibit the growth of Graphite market in near future.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the Global Graphite Market which includes company profiling of Triton Minerals Ltd, Lamboo Resources Limited, Mason Graphite, Focus Graphite Inc., etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global Graphite Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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