Global Synthetic Graphite Market |Top Industry Key Players – Graf Tech International, Showa Denko K.K., SGL Group, Graphite India Limited, HEG Limited, Tokai Carbon Co., Ltd., Nippon Carbon Co., Ltd., SEC Carbon, Ltd., Kaifeng Carbon Co., Ltd., Nantong

A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Synthetic Graphite Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that Synthetic Graphite Market would rise at a positive CAGR during the period 2017-2022.

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Synthetic graphite is a man-made substance manufactured through the high-temperature processing of amorphous carbon materials. The types of amorphous carbon used as precursors to graphite are many and can be derived from petroleum, coal, or natural and synthetic organic materials. The main application of high-purity synthetic graphite is as a carbon raiser additive in iron and steel. This application consumes a significant portion of synthetic graphite.

Increase in Demand for Graphite Electrodes to Drive Synthetic Graphite Market

Synthetic graphite is extensively used for manufacturing graphite electrodes, which are used in electric arc furnaces for smelting metals such as steel and in the metallurgy industry. China is a major producer and consumer of steel at the global level despite a fall in demand for the metal in the country as compared to 2015. Furthermore, increase in demand for synthetic graphite, and, in turn, steel, from India and other countries in Asia, North America, and the European Union (EU) is expected to compensate for the decline in demand for steel in China. Moreover, steel manufacturers prefer the electric arc furnace (EAF) method for the production of steel over the blast furnace-blast oxygen furnace (BOF) processes, owing to stricter environmental regulations. About 0.2 to 0.3 kilograms of graphite electrodes are required to produce one ton of steel utilizing the BOF process. Whereas, 0.7 to 0.8 kilograms of graphite electrodes are required to produce the same amount of steel by employing the EAF process. This leads to a sudden increase in demand for synthetic graphite.

Additionally, environmental regulations in China are becoming increasingly stringent. This suggests that deploying the blast furnace-blast oxygen furnace (BOF) process using iron ore is likely to incur increasingly higher environmental taxes compared to using the electric arc furnace (EAF) process. Currently, steel scrap is in short supply in China, due to the closure of a large number of induction furnaces. However, in the long-term, the supply of domestic steel scrap is set to increase rapidly along with electricity supply. These factors are fueling the usage of the EAF method for the production of steel, thus driving the synthetic graphite market during the forecast period.

Synthetic graphite is a manufactured product made through the high-temperature treatment of amorphous carbon materials. The overall production cost of synthetic graphite is very high. For instance, in the U.S., the primary feedstock used for making synthetic graphite are calcined petroleum coke and coal tar pitch. This makes it up to 10 times more expensive to produce than conventional graphite, and as a result, hampers the market growth.

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Leading Players Focusing on Geographical Expansion

Key players profiled in the synthetic graphite market include GrafTech International, Showa Denko K.K., SGL Group, Graphite India Limited, HEG Limited, Tokai Carbon Co., Ltd., Nippon Carbon Co., Ltd., SEC Carbon, Ltd., Kaifeng Carbon Co., Ltd., and Nantong Yangzi Carbon Co., Ltd.. Production capacity expansions, geographical expansion, and acquisitions are strategies implemented by major players. For instance, in October 2016, Showa Denko K.K. acquired SGL GE Holding GmbH, which engages in the graphite electrode business and was a part of the SGL Carbon group based in Germany, for an enterprise value of EUR 350 Mn. The company’s decision to acquire SGL is in line with its medium term growth plan, ‘Project 2020,’ for increasing competitiveness of its graphite electrode business by enhancing cost competitiveness, reducing fixed costs, improving efficiency in logistics, reinforcing brand equity, and increasing purchasing power in raw material procurement. Additionally, in August 2017, Brookfield Asset Management Inc. completed the acquisition of GrafTech International Ltd. at a cost of US$ 5.05 per share, or a total value of US$ 706.5 Mn. GrafTech International Ltd. became a fully owned subsidiary of Brookfield Asset Management Inc. after the acquisition.

Graphite Electrode Segment to Dominate the Synthetic Graphite Market

Graphite electrodes are large cylindrical structures made up of needle coke (petroleum coke). These electrodes are available in small or large diameters for high-temperature and high-intensity applications such as ferrous and non-ferrous metal production. Graphite electrodes are primarily used in the manufacture of steel in electric arc furnaces. They are also employed in the steel refining and smelting processes. This contributed to the significant share of the graphite electrodes segment in the global synthetic graphite market.

Storage and Energy Transmission End-use Industry Segment to Register the Fastest Growth Rate

The storage & energy transmission segment includes large energy storage such as battery storage. It involves the generation, distribution, switching, storage, and conversion of electrical energy to and from other energy forms (generators, batteries, transformers, etc.). The increasing use of synthetic carbon as anodes in lithium-ion batteries is anticipated to drive the storage & energy transmission end-use industry segment.

Emerging Economies to Create Opportunities in the Synthetic Graphite Market

In terms of volume, Asia Pacific and North America are leading regions of the synthetic graphite market. In terms of value, the market in Asia Pacific is projected to expand at a substantial pace during the forecast period, followed by that in North America and Europe. The market in Latin America is estimated to expand considerably, owing to a rise in demand for lithium-ion batteries in the storage & energy transmission industry and increase in demand for synthetic graphite in the electronics industry. In terms of country, the market in India, China, Canada, and Germany is anticipated to expand at a significant pace, due to an increase in demand for synthetic graphite in various end-use industries such as electronics, nuclear industry, chemical industry, mechanical engineering, and metallurgy.

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