Graphite Market Segmentation:
Product Type Segment Analysis
The synthetic graphite market is poised to garner a 60% share by 2034, driven by its utilization in a variety of applications, including friction, foundry, electrical carbons, fuel cell bipolar plates, coatings, electrolytic processes, corrosion products, conductive fillers, rubber and plastic compounds, and drilling operations. The purity of natural graphite ranges from around 70.1% to 99.0%, while synthetic graphite purity is usually above 99.0%. According to a report by OEC, synthetic graphite was the world’s 617th most-traded product in 2022, with a total trade of USD 3.89 billion, and top exporters included, China (USD 1.84 billion), Germany (USD 256 million), Japan (USD 247 million), and U.S. (USD 205 million).
Application Segment Analysis
The refractory segment in the graphite market is estimated to gain a robust revenue share of 30% by 2034, impelled by the rising application of graphite as a refractory material, which is projected to grow soon due to its properties, such as heat resistance, stability, and high thermal properties. Furthermore, the growth of the segment can also be attributed to 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 70%-80% of the graphite electrodes are used in EAF steelmaking.
Moreover, graphite is also used as mold wash in several casting processes and facing sand by the foundry industry, which is counted as the second-highest use of this market. Ferrous castings account for the highest global share of many casting types, either by non-ferrous castings such as copper, aluminum, lead, zinc, magnesium, or titanium-based castings. The most popular uses for foundry-cast metals include automotive, pipelines, and machinery.
Our in-depth analysis of the global graphite market includes the following segments:
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