Market Definition
Graphite is a naturally-occurring element known to be the most stable form of carbon. It has a variety of applications, and the popularity of graphite is unique, as it possesses the properties of both metals & nonmetals, thus making it versatile. It is usually found in layers of metamorphic rocks, formed under heat & pressure, and in coal beds.
Traditionally, graphite was used commonly in the production processes of products like automotive parts, pencils, refractory materials, inks, paints, polymers, paints, and many more. The demand for graphite has been continuously rising over the years, owing to the fact that it is both naturally occurring & synthetically processed, which makes it versatile and crucial in the manufacturing processes of several industrial materials, fire-safe products, & high-end batteries.
Market Insights
The Global Graphite Market is estimated to witness more than 5% CAGR during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven primarily by the versatile applications of graphite and its mounting application scope in refractories, insulators, paints, & nuclear reactors. Moreover, the rapidly expanding lithium-ion battery market is another prominent factor driving the graphite industry globally.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 5% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Rest of South America | |
| Europe: Germany, The UK, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, Vietnam, Rest of Asia-Pacific | |
| Middle East & Africa: GCC, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled |
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, TOYO TANSO CO., LTD., Triton Minerals Ltd |
| Unit Denominations | USD Million/Billion |
Lithium-ion batteries are used extensively in power tools, medical equipment, smartphones, 3D printers, Electric Vehicles (EVs), and for storing renewable energy. Recently, there has been a rise in the demand for graphite observed across the automotive sector as an anode for EV batteries and lubricant in brake linings & gaskets.Moreover, it is also witnessing a surging demand for making thermally conductive polymers, which are increasingly being utilized for replacing metal while manufacturing automotive components. More & more EVs being adopted across different corners of the world are leading to the burgeoning requirements for EV batteries. As a result, the mounting demand for graphite as an anode content in these lithium-ion batteries is also augmenting the market growth.
Furthermore, graphite also finds its application in the aerospace industry, mainly for manufacturing lightweight structural parts to achieve enhanced aircraft fuel efficiency. Besides, its higher strength-to-weight than conventional materials like metals & plastics used in the aerospace sector significantly aids in developing efficient aircraft designs. As a result, the leading aircraft manufacturers worldwide are increasingly utilizing graphite-based composites for the above-stated purposes, which projects remunerative growth prospects for the Global Graphite Market in the years ahead.
