Overview and Scope
Graphite is an allotrope and crystalline form of carbon. It is soft, cleaves with very light pressure, and has a very low specific gravity. It has a metallic luster and is opaque to light and found in metamorphic and igneous rocks.
Sizing and Forecast
The graphite market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to demand from steel industry, battery and energy storage, refractories and foundry industry, automotive industry, emerging markets.
The graphite market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electric vehicle (ev) growth, energy storage, battery technology advancements, infrastructure development, global industrialization. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Segmentation & Regional Insights
The graphite market covered in this report is segmented –
1) By Type: Flake Graphite, Non-Flake Graphite
2) By Product: Natural Graphite, Synthetic Graphite
3) By Flake Size: Jumbo, Large, Medium, Small, Fine
4) By Application: Refractories, Batteries, Lubricants/Crucibles, Foundry, Pencils, Other Applications
Asia-Pacific was the largest region in the graphite market in 2023. South America was the second largest region in the graphite market. The regions covered in the graphite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing demand for electric vehicles is expected to propel the growth of the graphite market going forward. Electric vehicles (EVs) are automobiles powered by electricity stored in batteries, eliminating the need for traditional internal combustion engines. Graphite is used in electric vehicles to make lightweight and high-energy-density lithium-ion batteries, serving as the anode material for efficient energy storage and release. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, which is nearly 9% of sales share, and increased by 4% points in 2021 as well, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles will drive the graphite market.
Key Industry Players
Major companies operating in the graphite market include Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc, Triton Minerals Ltd., Alabama Graphite Corp., American Graphite Technologies, Anson Resources Ltd., Archer Materials Ltd., China Carbon Graphite Group, First Graphene Limited, Showa Denko KK, GrafTech International Ltd., BTR New Material Group Co. Ltd., Shanshan Technology Co. Ltd., Lianyungang Jinli Carbon Co. Ltd, Weaver Industries Inc., DMC Global Inc., Mercer Gasket & Shim Inc., Nippon Graphite Fiber Co. Ltd., Zoltek Corporation, Graphite One Inc., NextSource Materials Inc., Syrah Resources Ltd., Novonix Ltd., Elcora Advanced Materials Corp., Graphene Manufacturing Group, NanoXplore Inc., Asbury Carbons Inc., Zentek Ltd.
The graphite market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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