Graphite Market Is Booming Worldwide with Top key players -GrafTech International Ltd., AMG Advanced Metallurgical Group N.V., HEG Ltd, Graphite India Limited, Tokai Carbon Co. Ltd., Toyo Tanso Company Ltd.
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Growing application of graphite in the automotive industry including graphite filament and in the production of various components where graphite is used as a core material such as motors, disk brake linings & pads, cylinder heads, exhaust systems, and gaskets is fuelling growth of the market. Graphite is extensively used as an active anode material in lithium-ion batteries and the growing demand for advanced energy storage products such as lithium-ion batteries is aiding in growth of the graphite market as well.
Rapid industrialization in emerging economies including India and China is fuelling demand for graphite in the region, as graphite is used in a wide range of industries such as automotive, chemical, and nuclear. According to the United States Geological Survey (USGS), China was the leading country in the world mine production of graphite in 2012 and in 2016, China was projected as the largest supplier of flake and amorphous grades of natural graphite and accounted for around 68% of the global graphite production. Furthermore, rising fuel prices, steadily growing awareness regarding eco-friendly electrical vehicles with graphite using li-ion batteries is fuelling growth of the market in the region.
Key Players and Business Strategies
Major players operating in the global graphite market include GrafTech International Ltd., AMG Advanced Metallurgical Group N.V., HEG Ltd, Graphite India Limited, Tokai Carbon Co. Ltd., Toyo Tanso Company Ltd., Showa Denko K.K., SEC Carbon Ltd., Mason Graphite Inc., Triton Minerals Ltd., and Northern Graphite Corporation.
Key players are adopting various business strategies such as product development, strategic collaborations, and mergers & acquisitions, in order to retain their market share. For instance, in November 2017, the Tokai Carbon Company Ltd. acquired the U.S. subsidiary, SGL GE Holding GmbH, which is involved in the manufacturing of graphite electrodes. The acquisition is anticipated to enhance the company’s business in North America region.
Graphite Market Taxonomy
Based on the type, the graphite market is segmented into:
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