Recent report published by research nester titled “Graphite Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global graphite market in terms of market segmentation by product type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global graphite market is segmented into type such as natural graphite and synthetic graphite. Among these segments, synthetic graphite segment is expected to occupy the top position in global graphite market. Further, increasing demand for synthetic graphite in energy and metal fabrication industry is expected to supplement the growth of global synthetic graphite market. Synthetic graphite market is further segmented into graphite electrodes, graphite powder, cathode blocks and specialty graphite, out of which, graphite electrodes accounted for the largest market share in 2016.
Global graphite market is expected to flourish at a significant CAGR of 10.5% over the forecast period. Moreover, the global graphite market was held at USD 15.2 Billion by the end of 2023. Factors such as increasing sale of electric vehicles and development of technologically advanced graphite material are expected to drive the growth of the global Graphite Market .
Asia Pacific is slated to account for a leading share in the graphite market during the forecast period. The growth in the region is anticipated to be fostered by the presence of mining industries in the region. Besides, adoption of electrical vehicles is also expected to impel the growth of graphite market in the Asia Pacific. North America is expected to showcase modest growth over the forecast period i.e. 2017-2023. Increasing adoption of graphite products in the aerospace industry is the major factor which is fuelling the demand for graphite market in the North America region.
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Favorable Government Initiatives
Increasing inclination towards the production of environment friendly electricity is also a key factor behind the growth of the graphite market. According to World Wind Energy Association, new establishments of wind energy were held 21.7 GW in 2016. Moreover, wind energy capacity installation is anticipated to witness high growth during the forecast period. This factor is expected to increase the demand and sale of flow batteries and drive the growth of global graphite market.
Wide Scale Application
Development and increasing sale of innovative and disruptive consumer electronic products such as wearable devices is anticipated to accelerate the growth of the graphite market during the forecast period. Further, rising demand of lithium ion batteries in automotive industry owing to increasing sale of electric vehicles across the globe is anticipated to accelerate the growth of the global graphite market.
However, limited number of mines and high extraction cost of graphite is expected to hamper the growth of the global graphite market.
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This report also provides the existing competitive scenario of some of the key players of the global graphite market which includes company profiling of SGL Carbon SE, Showa Denko K.K., AMG Advanced Metallurgical Group N.V., Cabot Corporation, Graphite India Limited, Toyo Tanso Co. Ltd., Hexcel Corporation, SEC Carbon Ltd., Tokai Carbon Co.Ltd. and HEG Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global graphite market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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