One of the most desirable materials among those active in the next-generation energy sector, graphite represents a rapidly progressing, multi-billion-dollar market at a global level. Majorly fuelled by the advent of renewable energy sources, and innovations in green energy technologies, Fairfield Market Research expects the global graphite market to see a robust growth outlook during 2021 – 2025. A new report by the company forecasts a strong 8.5% CAGR for the graphite market through 2025, reaching an estimated revenue of more than US$26 Bn. The market will also receive a boost from the flourishing steelmaking industry, banking on the superior attributes of graphite, including higher electrical conductivity, greater mechanical strength, better lubricity, and superior thermal shock resistance.
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As far as the impact of COVID-19 is concerned, the global graphite market has been hit hard due to the pandemic situation. All the major end-use sectors of graphite, including steelmaking, automotive, electronics, and electric vehicles (EVs) that faced the wrath of the viral outbreak have also held a cascading impact on the graphite market as well. The market is however likely to revive in the near future as the key consumer industries show clear signs of recovery.
Graphite Consumption to Ramp up as Demand for EVs Uplifts Li-ion Battery Sales
Natural graphite variant is recently gaining ground for application in production of flexible graphite that is typically used as one of the key components of rechargeable Li-ion batteries. The application base of natural graphite has been continuously expanding, of which thermal management, and battery storage mark the top ones. With an exceptionally rising rate of electric vehicle (EV) sales over the recent past, the graphite market is all set to thrive at a remarkable pace over the forecast period.
On the other hand, synthetic graphite remains a dominant variant with more than 60% of the global market revenue. It has been considered as a purer form of graphite that also has higher conductivity, which would remain the key driver for its continued adoption for applications like graphite electrodes, lubricants, synthetic carbon, Li-ion battery anodes, graphite shapes, foundries, coatings, refractory materials, recarburisers, and conductive fillers. Among these key application areas, synthetic graphite adoption is prominent for electrodes. These electrodes find application in electric arc furnaces (EAFs), as well as melting furnaces functional at steel plants, and silicon plants.
Asia Pacific Continues to Hold the Epicentre; China Tops Production, and Consumption
Capturing the maximum share of over 55% in the global market volume, Asia Pacific continues to be the leading regional market for graphite. China especially remains in the spotlight as it is the world’s top steel producer, as well as consumer. The country also records the highest automotive manufacturing capacity in addition to being the global hub for rechargeable Li-ion battery manufacturing. The graphite market is expected to continue discovering a large number of opportunities in China as the country leads its way in graphite electrode production, and consumption. Over 60% captive consumption of China’s graphite electrode production is another strong factor driving the Chinese market for graphite. The market is projected to gain substantially from the proliferating electric vehicle (EV) sales, which are further receiving an impetus from the government’s supportive policy framework toward EV adoption.
Key Competitors in Global Graphite Market
The report provides an insightful view of the strategic profiles of some of the leading companies driving the competition in the global graphite market. Shanshan Technology, Nacional de Grafite, Shenzhen BTR New Materials, Aoyu Graphite Group, Qingdao Haida Graphite Co., Ltd., and Showa Denko Materials Co. Ltd. represent some of the top competitors in the graphite landscape.
Global Graphite Market Press Release: https://www.prnewswire.com/news-releases/global-graphite-market-observes-an-upward-growth-trend-as-li-ion-battery-production-gains-momentum-says-fairfield-market-research-301377298.html
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