DUBLIN--(BUSINESS WIRE)--The "Global Graphite Market: Analysis By Demand, By Supply, By Type, By Application, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global graphite market was valued at US$23.73 billion in 2022 and is expected to grow to US$37.68 billion by 2028. The graphite market is projected to expand at a CAGR of 8.01% over the forecast period of 2023-2028.
The graphite is a soft blackish-colored mineral that forms on carbon-rich rock in the form of crystalline flake graphite, finely coarse amorphous graphite, or crystaline lump graphite. It mostly occurs on limestones, schists, and gneisses. The element is used heavily in the industrial space as a lubricant, carbon brushes for electric motors, fire retardants, and steel manufacturing.
The graphite market has historically been driven by industrial demand, but the strong increase and positive outlook for electric vehicle (EV) and battery demand have emerged as a key growth drivers.
Graphite is becoming immensely popular among industries in the current scenario, due to its newfound applications, rising environmental concerns among citizens and governments, etc. China currently produces more than 60% of graphite globally. Importantly, almost all the downstream processing currently has at least one stage in China.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic had a significant impact on the global graphite market, disrupting supply chains, leading to a decline in production and prices. However, the increasing demand from industries such as automotive, aerospace, and steel, as well as the growing emphasis on renewable energy and electric vehicles, is expected to drive demand for graphite.
The pandemic also highlighted the risks of relying heavily on global supply chains and led to a trend towards diversification of production. Stringent environmental regulations and increased investment in research and development are considered as a potential opportunities for the graphite industry in the post-pandemic era.
Market Dynamics
Drivers
- Increasing Graphite Demand for Lithium Ion Battery
- Growing Steel Industry
- Growth of Emerging Economies
- Growth in Aerospace Industry
- Increasing Demand for Carbon Fiber
Challenges
- Stringent Qualification Process
- Environmental Concerns
- Competition from Alternative Materials
Trends
- Increasing Demand for Spherical Graphite
- Growing Demand for Natural Flake Graphite
- Shift towards Value-Added Products
- Adoption of Sustainable Practices
- Growing Interest in Graphite Mining Investment
Competitive Landscape:
The global graphite market is fairly fragmented, but have started consolidating with time with emergence of few big player like GrafTech International Inc. There are several parts of the graphite supply chain including the miners, the processors, and the suppliers of graphite. Syrah resources is coming out to be major player in graphite industry from being miner to processor.
The key players of the graphite market are:
- GrafTech Internation Inc.
- Syrah Resources
- Tokai Carbon Co., Ltd.
- Talga Group
- Resonac (Showa Denko K.K)
- AMG Advanced Mettalurgical Group N.V.
- SGL Carbon SE
- Graphite India Limited
- Nippon Carbon Co., Limited
- Triton Mineral Limited
- Focus Graphite Inc.
- Northern Graphite Corporation
- Mason Graphite
For more information about this report visit https://www.researchandmarkets.com/r/v6v9z
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