A recent research report published by MarkNtel Advisors cites that the Global Graphite Market is set to experience more than 5% CAGR during 2022-27. The increasing application of graphite in refractories, insulators, paints, & nuclear reactors, coupled with the growing demand for graphite in the rapidly expanding lithium-ion battery market, are the prime aspects driving the Global Graphite Market. Moreover, the emerging application of graphite in the automotive sector for its use as an anode content in Electric Vehicle (EV) batteries and a lubricant in brake linings & gaskets is another prominent aspect augmenting the growth of the graphite industry.
Graphite is a versatile mineral, formed under metamorphic conditions (heat & pressure), and is known for its both metallic & non-metallic properties. Owing to their high tensile strength, electro-conductivity, & malleability, both natural & synthetic graphite are crucial in the manufacturing industry. In addition, lithium-ion batteries have immense potential to be used in power tools, medical equipment, smartphones, & 3D printers, along with storing renewable energy, i.e., very likely to surge the demand for graphite in the future and fuel the overall market growth through 2027, further states the research report, "Global Graphite Market Analysis, 2022."
Rapid Rise in Metallurgical Applications to Spur the Graphite Market Growth
The metallurgy domain holds the largest share in the Global Graphite Market. The increasing demand for graphite as electrodes used in EAF (Electric Arc Furnaces) & LF (Ladle Furnaces) for smelting processes, coupled with steel, aluminum, & ferroalloy production, is the prime aspect driving the Global Graphite Market across the metallurgy industry, comprising casting, refractories, & foundries.
Moreover, the growing use of EAF for steel production is propelling the demand for high purity graphite electrodes and, in turn, significantly contributing to the overall market growth across the metallurgy sector. Furthermore, the mounting steel requirements across numerous industries like the automotive, aerospace, & electronics, among others, further project profitable growth prospects for the Global Graphite Market in the metallurgy domain over the coming years.
With China as the Largest Graphite Producer & Consumer, Asia-Pacific Dominates the Market
During 2022-27, Asia-Pacific is expected to be the largest graphite market globally, mainly due to rapid developments across various industries in countries like China, India, & Japan, coupled with the burgeoning use of graphite for manufacturing structural composite parts used in aircraft and its growing demand in refractories owing its high thermal conductivity.
Across Asia-Pacific & even worldwide, China is the leading graphite industry, with the largest production & consumption and the highest production capacity of UHP graphite electrodes used in steel manufacturing. More & more steel mills that use electric arc furnaces are being established across China owing to the emerging EAF steel manufacturing in the country. Hence, these aspects are projected to promote the expansion of the Asia-Pacific Graphite Market through 2027.
The major companies in the Global Graphite Market include AMG Advanced Metallurgical Group NV, Asbury Carbons, Eagle Graphite, EPM Group, Grafitbergbau Kaisersberg GmbH, GrafTech International Ltd., Graphite India Limited (GIL), Imerys S.A., Nacional de Grafite, Northern Graphite Corporation, SGL Carbon SE, T?y? Tanso KK, & Triton Minerals Ltd.
Key Questions Answered in the Research Report: