Global Graphite Market size was valued at $13,004 million in 2015, and is expected to reach $18,769 million by 2022, supported by a CAGR of 5.4% during the forecast period 2014 to 2022.
Graphite is flexible in nature and has both metallic and non-metallic properties, which makes it appropriate for a diverse range of industrial applications. The non-metallic properties of graphite include high thermal resistance, chemical inertness, and lubricity, while the metallic properties include electrical and thermal conductivity. Graphite is manufactured synthetically using carbon containing raw materials such as tar pitch and petroleum coke.
Key market players have invested significantly on R&D activities to develop advanced products to cater to the demand of end users. The major players in the graphite market are Northern Graphite Corporation, Asbury Graphite Mills, Inc., Energizer Resources Inc., Mason Graphite, Flinders Resources Ltd., Focus Graphite Inc., Showa Denko K.K., SGL Carbon SE, SEC Carbon Limited, Graphite India Limited.
The demand for natural graphite is directly proportional to the growth of the industrial applications including lubrication, refractories, battery production, and foundry. Refractories account for the highest share of around 42% in the global graphite market and is expected to remain a dominant application for consumption of natural graphite throughout the forecast period.
The global graphite market is expected to witness various growth opportunities, owing to rise in the demand for lightweight materials in aircraft components such as carbon fiber-reinforced polymers. The battery production application possesses maximum market potential in the market, owing to rapid developments and advancements in the technologies adopted in the production of lithium-ion batteries. Moreover, rise in the demand for graphite, specifically in steel industry as a liner for crucibles & ladles, are another major factor driving the overall demand for graphite globally.
The battery production segment is expected to register a CAGR of 6.0% during the forecast period.
The global graphite market is segmented based on type, application, and geography. Based on type, itis divided into natural graphite and synthetic graphite. The natural graphite segment is further sub-categorized into flake graphite, amorphous graphite, and vein graphite. The synthetic graphite segment is further classified into graphite electrode, graphite block, carbon fiber, graphite powder, and others.
On the basis of application, the market is classified into lubrication, refractories, foundry, battery production, and others. The battery production segment is anticipated to register a significant CAGR during the forecast period. Geographically, the global graphite market is divided into North America, Europe, Asia-Pacific, and LAMEA.
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