Graphite Market - Overview
Global Graphite Market is growing with an impulsive pace; owing to the proliferation of the aerospace industry. The civil sector will expand as a result of growing travel in developing market economies and the defense sector as a result of an increased significance on military spending, to counter global terrorism. Thus, the use of graphite-based carbon fibers reinforced polymer composites to build aerospace components is expected to increase. According to a recent study report published by Market Research Future, The global market of Graphite is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate stunning growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR of 9.35% during the estimated period (2022-2030).
Globally, the market for graphite is driven by the region Asia Pacific, owing to the rise in the production of use of electric arc furnaces to manufacture steel to support construction projects resulting in to increasing demand for steelmaking industries among others. Graphite is as an essential material in electric furnace design to manufacture carbon electrode for the furnace. China is consuming around 50% of the global steel production over the forecast period is expected to drive the graphite market. High thermal resistance, low friction and self-lubrication, high electrical conductivity and thermal conductivity.
Rising population defines the growth of Textile industry. Moreover growing industries such as Cosmetic Personal Care, Household industry, and Food Additives provide impetus to the Graphite Market growth.
On the other hand, the negative impact Bleaching Chemical leave on the environment, restricts its uptake resulting in to further hampering the Bleaching Chemical Market growth.
Graphite are high value added and low production volume chemicals and can also be termed as performance chemicals. It is high added value products used as carbon fibers reinforced polymer composites in a wide variety of applications. Graphite are used in manufacturing lightweight and adamant composites for automotive and aerospace.
Graphite is most widely used in manufacturing carbon electrodes for electric furnaces after that manufacturing carbon composites used in aerospace industry is most popular.
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Graphite Market - Competitive Analysis
Graphite market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the graphite market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for cold insulation materials in aerospace and steelmaking industries will influence the end user products from these industries. Graphite market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Triton Minerals Limited (Australia), Hexagon Resources Limited (Australia), Mason Graphite Corp (Canada), Focus Graphite Inc. (Canada), NextSource Materials Inc. (Canada), SGL Group (Germany), MERSEN (France), GrafTech International (U.S.), Graphite India Ltd. (India), Nippon Carbon Co., Ltd. (Japan) and Toyo Tanso Co.,Ltd. (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Graphite Market.
Industry/ Innovation/ Related News:
August 2017 – Hexagon Resources Ltd (Australia), is one of the key manufacturers of graphite has announced that company has the potential to help the supply chain for flake graphite concentrate for the use in lithium ion batteries, after revealing positive results from its wholly-owned McIntosh Flake Graphite Project. The preliminary results are considered to be highly encouraging as the sample material has passed on all the key preliminary assessment criteria The test work demonstrates that the McIntosh flake concentrate is well suited for lithium-ion batteries. This is expected to widen the graphite market owing to the incorporation of graphite technology to various applications and increase the Graphite Market Growth rate over the forecast period.
October 2017 – Focus Graphite Inc. (Canada) is one of the major manufacturers of graphite has announced that the company is pleased to report that ongoing independent testing of its new ultrafine grades of flake graphite and expanded, natural flake graphite from its Lac Knife, Québec Project demonstrate up to 10 times the electrical conductivity over standard grades of synthetic and natural graphite used in Li-Ion and Alkaline battery cathode applications.
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