The global graphite powder market is estimated to garner a revenue of ~USD 25 Billion by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 15 Billion in the year 2021. The primary growth for the graphite powder market is the expansion of construction industry across the world. Recent estimates calculated that the revenue collected by the construction industry was almost USD 2 trillion in 2019.
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A non-metal, graphite is a form of coal has metallic processes such as high stiffness, strength, highly-durable and is a good conductor of electricity and heat. This calcium salt is commonly used in various processes such as die or cast, desiccant in building materials, immobilize casts, tablet excipient, an impression material in dentistry and many more. The chemical formula of graphite powder is CaSO4, in its purest form, which is non elastic in nature despite being soft and flexible. Owing to its great advantages, graphite powder in today’s date is being highly used in the construction industry. Thus, the increment in the expenditure made by several governments in the construction industry is forecasted to bring lucrative opportunities for the market in the assessment period. By 2030, the global construction industry expenditure is expected to propel to USD 18 trillion.
Rapid Maturing of Automotive Industry-Graphite powder has been classified as an important material for motors, cylinder heads, exhaust systems, clutch materials, and gaskets in automobiles. In recent years, graphite powder has replaced asbestos, which was primarily used in linings and disk brake pads, thus expanding the graphite powder market size. The automotive industry of India is anticipated to become the 3rd largest automotive industry in the world by the year 2030, with a revenue generation of USD 200 billion.
Expansion of Manufacturing Industry - The revenue gathered by the manufacturing industry of the United States amounted to be approximately USD 6 trillion in 2022. Further, in the same period, there are around 638,590 manufacturing businesses in the region.
The graphite powder market is segmented and analyzed for demand and supply by application into refractories, lubricants & crucibles, foundry facing, batteries, and others. Out of these the batteries segment is projected to garner the highest revenue by 2031, owing to the increased demand of batteries in the upcoming years. As per recent statistics, it is being revealed that the global demand of batteries is projected to rise from 190 GWh in 2020 to 2,000 GWh in 2030. Also, the growth in production of lithium-ion polymer (LIP) battery to balance the equation of demand and supply of electric vehicles is anticipated to bolster the market growth. As per recent estimates, the global LIP production is expected to rise from 500 GWh in 2020 to 1,500 GWh in 2025.
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 Powder Market Regional Synopsis
Regionally, the global graphite powder market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. This region is expected to garner the highest revenue owing to a burgeoning population and rapid industrialization. According to the World Bank data, 61% of the total population of East Asia and the Pacific lived in urban areas in 2021. In South Asia, however, around 35% of the total population was settled in urban areas during the same period. Also, the rising sales and production of vehicles in Asia Pacific is expected to be another growth factor for the expansion of the graphite powder market. As per data by the International Organization of Motor Vehicle Manufacturers, the production of vehicles in the Asia-Oceania region was 46,732,785 units, whereas the sales of vehicles were accounted for at 42,663,736 in the year 2021.
The global graphite powder market is further classified on the basis of region as follows:
Our in-depth analysis of the global graphite powder market includes the following segments:
By Product Type
FREQUENTLY ASKED QUESTIONS
The expansion of construction and manufacturing industry along with the rising demand of electric vehicles and increased steel production are some of the factors that are expected to propel the market growth in the forecast period.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
The unbalanced equation of supply and demand of steel coupled with additional expenses incurred at several stages and stringent rules by government are some of the factors that are expected to hamper the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are AMG Advanced Metallurgical Group N.V., Showa Denko K.K., Toyo Tanso Co., Ltd., SGL CARBON SE, Tokai Carbon Co., Ltd, Graphite India Limited, Nippon Carbon Co Ltd., SEC CARBON, LIMITED., HEG Limited, GrafTech International Ltd., International Graphite Limited and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by form, product type, application, and by region.
The batteries segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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