Synthetic Graphite Market Size To Grow At Highest CAGR From 2019 To 2024 - Shanshan Technology, Shenzhen Sinuo Industrial Development , BTR New Energy Materials , Jiangxi Zichen Technology , and Hitachi Chemical

The synthetic graphite market is expected to register a CAGR of 4.17% during the forecast period, 2019 - 2024. Major factors driving the market studied are increasing demand for electric vehicles and high purity levels of synthetic graphite. High costs compared to natural graphite and stringent environmental regulations are expected to hinder the growth of the market studied.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/20059
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Metallurgy dominated the application segment of the market in 2018, and it is expected to grow during the forecast period as well. Synthetic graphite electrodes are employed in metallurgical applications as a source of energy for the processes, including melting scrap iron in an electric furnace, refining of ceramic materials, manufacturing chemicals, such as calcium carbide, and other applications that require high temperature and clean energy source.
Growing popularity of graphene is likely to act as an opportunity in the future.
Asia-Pacific dominated the market across the globe, with the largest consumption seen in countries, such as China, Japan, and India.

Competitive Landscape
The synthetic graphite market is consolidated. The top 5 players account for more than 75% of the market share. The major companies in the synthetic graphite market include Shanshan Technology, Shenzhen Sinuo Industrial Development Co. Ltd, BTR New Energy Materials Inc., Jiangxi Zichen Technology Co. Ltd, and Hitachi Chemical Co. Ltd.

Request Discount on this report @ https://marketprognosis.com/discount-request/20059
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Key Market Trends

Increasing Demand for Batteries Applications
Synthetic graphite is used as the anode component in lithium-ion batteries. Although lithium is the best-known component of lithium-ion batteries, there is far more graphite than lithium in a battery. Battery anodes require coated spherical graphite at over 99.9% purity.
Battery is one of the few applications, where natural and synthetic graphite compete with each other. The battery manufacturers are shifting their focus toward natural graphite over synthetic graphite, in order to bring down the production costs.
The features of graphite, such as high surface area and layered crystal structure, make it suitable for use as an anode material into which the lithium ions are intercalated. Certain battery technologies require graphite to be almost 100% pure.
The growth in the sales of electronics and electric cars is expected to drive the sales of lithium-ion batteries, which, in turn, is expected to drive the consumption of synthetic graphite in the coming years.

China to Dominate the Market in the Asia-Pacific Region
China continues to dominate synthetic graphite production and demand. Almost all stages of the lithium-ion battery manufacturing chain are focused on China, and China is by far the largest and most rapidly growing market for lithium-ion batteries, which has paved the way for the market growth of synthetic graphite.
The major application of synthetic graphite is in electrodes in the steel making industry. China holds the largest share in terms of consumption and production capacity of graphite electrodes in the global scenario.
China has produced nearly 520 thousand metric ton of graphite electrode, of which, nearly 62% was utilized for domestic consumption purposes.
On a brighter note, the capacity of electric arc furnaces has been increasing in recent times with an estimated increase of nearly 70 million metric ton in capacity in the beginning of 2019.
The government of China is also focusing on developing eco-friendly means of producing steel and it has lately announced its target to produce 20% of the country’s steel through electric arc furnace, by 2020. This marks a growth of the electric arc furnace capacity by three times, as compared to that of 2017.
The growing production of motor vehicles, along with the expanding residential construction industry, is expected to support the domestic demand for non-ferrous alloys and iron and steel, which will be a positive factor for the growth of the synthetic graphite demand in the coming years.

Enquiry Before Buying @ https://marketprognosis.com/enquiry/20059
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.