Menu ×

CHEMICALS AND ADVANCED MATERIALS

Graphite Market Analysis by Product Type {Natural Graphite (Flake, Amorphous, Vein), Synthetic Graphite (Graphite Electrode, Carbon Fiber, Graphite Blocks, Graphite Powder), and Others}; by Application (Refractories, Lubricants & Crucibles, Foundry Facing, Batteries and Others); and by End User (Automobile Industries, Power Generation, and Electronic Industries) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

  • Report ID: 181
  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

IN THE NEWS

  • The global leader in graphite & carbon solutions, Imerys, announced expansion of its carbon black production capacity in Willebroek, Belgium. With this move, the company aimed to meet the growing demand for specialty conductive additives, especially for lithium-ion batteries.
  • An agreement has been signed between Trition Minerals Limited and Suzhou Sinoma Design and Research Institute of No-Metallic Minerals Industry Co Ltd. Suzhou regarding the provision of technical consulting services for graphite production and quality.

Global Graphite Market Size, Forecast, and Trend Highlights Over 2022 – 2031

Graphite-Market-Size

The global graphite market is estimated to garner significant revenue by the end of 2031 by growing at a CAGR of ~9% over the forecast period, i.e., 2022 – 2031. Further, the market generated modest revenue in the year 2021. The growing demand for graphite in lithium-ion batteries and combustion engines is a major factor expected to drive the global graphite market over the forecast period. Moreover, the rising demand for electric vehicles and phones, which largely depends on rechargeable batteries, is further expected to propel market growth. In addition to batteries used in mobile phones and electric vehicles, graphite is also a key raw material in these batteries. In tandem with the growth in lithium-ion battery demand, graphite demand is also expected to increase. As a result of increased demand for electric vehicles, sales doubled in 2021, reaching a new record of 6 million. The market share of electric cars in 2021 was nearly 10%, four times what it was in 2019. Electric car sales have continued to rise in 2022, with 2 million sold in the beginning, up 70% from 2021.

Graphite-Market-Size-Demand

Get more information on this report: Download Sample PDF

The properties of graphite combine the best of metallic and non-metallic materials, making it one of the world's most versatile manufacturing materials in numerous industrial products. Since graphite is used for numerous applications, including electrodes and refractories, its demand has increased significantly over time. In addition to that, technological advancements in steel production using electric arc furnaces (EAF), and emergence of battery-powered automobiles are market trends anticipated to contribute significantly to the global graphite market size over the forecast period. Furthermore, expansion of mining industry is expected to drive market growth. According to India Brand Equity Foundation, the number of reporting mines in India was estimated at 1,229 as of 2021, of which 545 mined metallic minerals and 684 mined non-metallic minerals.

Global Graphite Market: Growth Drivers and Challenges

Growth Drivers

  • Expansion of Aerospace Industry Worldwide- For instance, with improved infrastructure and government initiatives, the Aerospace and Defence (A&D) industry in India is expected to reach around USD 75 billion by 2030.  

Graphite is widely used in aerospace applications, as well as in the production of lightweight composite parts used in aircraft. In comparison to traditional aerospace materials, such as metals and plastics, graphite has high compressive strength capability. In addition to that, the growth of aerospace industry is expected to propel the demand for graphite over the forecast period.

  • Increasing Production of Minerals such as Graphite, Lithium – According to the World Bank Group report, by 2050, it is anticipated that the production of minerals like graphite and lithium is expected to increase by nearly 500% to meet the growing demand for clean energy technologies. In order to deploy wind, solar and geothermal power, more than 3 billion tons of minerals and metals will be required.
  • Rising Exports of Graphite Worldwide- As per the statistics by the International Trade Center, the worldwide value of exports of graphite in the year 2021 was recorded to be USD 522465 thousand, which was an increase from USD 465231 thousand in the previous year.
  • Growing Usage of Smartphones and Electronics- It is predicted that in 2025, nearly 4 billion internet users will access the web exclusively through their smartphones. There are around 2 billion people in the world who only access the internet via their smartphones, which equates to about 50% of the global mobile user population.
  • Technological Advancements in Automobile Industry - It is expected that the automotive revenue pool will increase and diversify substantially towards mobility services on demand and data-driven services. By 2030, traditional automotive sales are projected to generate about USD 5 trillion in additional revenue, whereas this could generate USD 2 trillion.

Challenges

  • Globally Increasing Export Duty on Graphite 
  • Strict Regulations for Mining Processes by the Government 
  • Rising Graphite Prices Coupled With High Extraction Costs

The global graphite market is segmented and analyzed for demand and supply by application into refractories, lubricants & crucibles, foundry facing, batteries, and others. Out of which, the refractories segment is anticipated to capture the largest market size in the global graphite market. The rising application of graphite as a refractory material is expected to grow during the forecast period owing to its properties, such as, heat resistance, stability and high thermal properties. Furthermore, the growth of this segment can also be attributed to the rapid industrialization and the increased use of graphite in the iron and steel industries. In a study it was observed that in a steelmaking process the tip of the electrode is heated up to 3,000 degrees Celsius. Electrodes are made of graphite since only graphite is capable of handling such intensive heat. In addition to that, nearly 4 kilograms (8.8 pounds) of graphite electrodes are used to make a ton of steel.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Growth

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Graphite Market Regional Synopsis

Regionally, the global graphite market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031 on the back of rapid industrialization in countries such as China, India, and Japan, and increasing demand for graphite from steel manufacturers is expected to drive the market in region. In addition to that, India and China are among the world's largest crude steel producers. According to the World Steel Association data for 2018 and 2019, India ranked second in the production of crude steel after China. India’s crude steel production in 2019 was at 119.2 MT, higher than 109.3 MT in 2018, whereas China's crude steel production was 996.3 MT in 2019. Furthermore, China is the world's largest consumer and producer of graphite electrodes. Based on US Geological Survey data, China produced 820,000 tons of graphite in 2021, accounting for 79 percent of the world's graphite production. Around 24% of the graphite produced in China was amorphous, and about 76% was flake graphite. 

Graphite-Market

The global graphite market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global graphite market includes the following segments:

By Product Type

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

By Application

  • Refractories
  • Lubricants & Crucibles
  • Foundry Facing
  • Batteries
  • Others

By End User

  • Automobile Industries
  • Power Generation
  • Electronic Industries

Top Featured Companies Dominating the Global Graphite Market

  • Imerys S.A.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Triton Minerals Limited
  • Mason Graphite Inc.
  • NextSource Materials Inc.
  • Northern Graphite 
  • GrafTech International Ltd.
  • SHOWA DENKO K.K.
  • Tokai Carbon Co., Ltd.
  • Nippon Graphite Industries, Co., Ltd.
  • WESTWATER RESOURCES, INC.

 

FREQUENTLY ASKED QUESTIONS


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2021 Research Nester. All Rights Reserved