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Synthetic Graphite Market Segmentation by Product (Graphite Electrodes, Graphite Anode, and Graphite Block); by Application (Batteries & Energy Devices, Metallurgy, Nuclear, Metal Fabrication, Refractory, Foundry, and Others) and by End User (Steel, Automotive, Electronics, and Aerospace) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Synthetic Graphite Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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  • July 11, 2018: SGL Carbon, a world leader in the development and production of carbon-based solutions, has announced that it has significantly increased its capacities for the production of synthetic graphite anode material for lithium-ion batteries which are usually used for electric vehicles.

Introduction to Synthetic Graphite

Synthetic graphite also called man-made or artificial graphite is extracted from the refining of hydrocarbon materials such as petroleum coke, and coal tar. It is a crystalline form of carbon and has carbon content similar to the natural type, however, synthetic graphite is much purer in terms of carbon content. Its significant material properties such as resistance to corrosion, thermal and electric conductivity, lightweight and high strength make it widely used in several applications and industries. Synthetic graphite is used as an important raw material in battery anodes and welding electrodes. It is also commonly used as a material in carbon fiber reinforced plastics used in aerospace, sports equipment, automobile frames.

Market Size and Forecast

High demand for lithium-ion battery industry and growing use of synthetic graphite majorly in producing electrodes in steel making industry as well as in sports equipment, automotive & aerospace are some of the significant factors boosting the market growth. The global synthetic graphite market is anticipated to record a notable CAGR over the forecast period, i.e., 2021-2029. The market is segmented by application into batteries & energy devices, metallurgy, nuclear, metal fabrication, refractory, foundry, and others. Among these segments, the segment for metallurgy is anticipated to hold the leading share in the market on account of wide-scale use of synthetic graphite in producing electrodes useful in metallurgical applications as a source of energy for the processes, including refining of ceramic materials and melting scrap iron in an electric furnace. CLICK TO DOWNLOAD SAMPLE REPORT


Growth Drivers

Lucrative Demand for Synthetic Graphite from Battery Manufacturers to Boost the Market Growth

The excellent graphite features such as high surface area and layered crystal structure make synthetic graphite suitable for use as an anode component in lithium-ion batteries. Additionally, as synthetic graphite is considered a more durable material when compared to naturally occurring graphite, it is widely used in the manufacturing of batteries. Further, the market growth is attributed to the emergence of electric cars and e-rickshaws in recent years and the increasing adoption of lithium-ion batteries in these vehicles. Synthetic graphite has high purity levels, which is why it is used massively in lithium-ion batteries. Such factors are anticipated to drive the growth of the global synthetic graphite market.

Exceptional Properties and Multipurpose Applications of Synthetic Graphite to Drive the Market

The burgeoning popularity of graphene as well as smartphones is anticipated to drive the demand for synthetic graphite. In addition, different grades of graphite are available for specific uses in diverse applications. It is widely used in the aerospace and construction industry and also in military applications owing to its high strength-to-weight capability, high heat tolerance, strength, and rigidity. These favorable properties enable the production of efficient designs and facilitate the development of lightweight structural parts in aircraft which improves fuel efficiency. Moreover, an increase in the usage of green and eco-friendly technologies is anticipated to provide growth opportunities for graphite manufacturers. Such factors are anticipated to drive the growth of the global synthetic graphite market over the forecast period.


High Costs and Stringent Regulations for Manufacturing Synthetic Graphite to Hamper the Market Growth

Despite the wide-scale application of synthetic graphite, there is a high cost of production as compared to naturally occurring graphite which may negatively affect the market growth. Furthermore, stringent environmental regulations of the government of nations worldwide are estimated to hinder the growth of the global synthetic graphite market in the future.

Market Segmentation

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

By Product

  • Graphite Electrodes
  • Graphite Anode
  • Graphite Block

By Application

  • Batteries & Energy Devices
  • Metallurgy
  • Nuclear
  • Metal Fabrication
  • Refractory
  • Foundry
  • Others

By End User

  • Steel
  • Automotive
  • Electronics
  • Aerospace

By Region

On the basis of regional analysis, the global synthetic graphite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for synthetic graphite in the Asia Pacific is anticipated to hold the largest share on account of the presence of leading market players in the region that manufacture and market synthetic graphite. Moreover, the growing requirement for lithium-ion batteries, favorable government industrial expansion policies, and the expanding residential construction industry, especially in countries such as Japan and China are some of the factors anticipated to drive the growth of the synthetic graphite market in the Asia Pacific. Additionally, the market in the Middle East & Africa region is predicted to grow at the highest rate during the forecast period as a result of increasing consumption of graphite in the end user industries such as automotive, wind, and electrical and electronic equipment.

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

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • 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 & Opportunity Analysis

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