Graphite Market Analytical Study 2016-2023 by Global Demand, Trends, Revenue Outlook, and Major Key Players
New opportunities are arising in the graphite industry owing to increasing price of steel refractories and rising investment in mining industry across the globe. There has been a significant progress is observed in exploration of graphite mines in order to make convenient for the consumers. Graphite is flexible and characteristics of metallic and non-metallic materials making it suitable for various industrial applications. Properties of graphite such as high thermal resistance, chemical inertness, etc. are making it efficient at elevated temperatures.
Market size and forecast
The global graphite market is predicted to flourish significantly at a CAGR of 10.52% over the forecast period i.e. 2016-2023. Moreover, the market of graphite market accounted for USD 15.2 Billion in 2015. The synthetic graphite market is expected to reach USD 16.8 Billion by 2023 form USD 12.9 Billion in 2015.
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The graphite market of Asia-Pacific is estimated to grow significantly over the forecast period. Moreover, the market accounted the largest revenue share of 66.2% in 2015 in overall graphite market across the globe. The market is further predicted to witness a CAGR of 4.5% over the forecast period. On the other hand, Europe is expected to be the second largest share contributor by registering a share of 14.5% in overall market of graphite across the globe in the market of Graphite due to presence of large number of automobile industries and technological advancements in automotive across the region .
In 2015, North America accounted the revenue share of 10.2% in overall graphite market across the globe. Rising demand of graphite in the region owing to increasing investment in automotive industries and rising trend of high end and efficient electronic gadgets.
Rapid growth in mining and automobile industry, technological advancements in automobiles, rising demand of graphite in developing nations owing to increasing infrastructure in industrial processes are some of the key factors pave the market growth for the graphite market in near future. In addition to that, wide-scale applications of graphite in various industries such as brake shoe industry, steel products industry, and other major applications of graphite is predicted to swell the demand over the forecast period.
Rising globalization and increasing numbers of emerging economies across the globe, on the other hand, increasing investments in mining processes owing to rising demand of strong and cost effective substitutes of metallic and non-metallic elements such as graphite, thus bolster the market of graphite globally.
Emergence of industrial automation and automobile industries, huge investment in automotive sector and rising initiatives from government authorities to produce energy efficient devices and automobiles, thus increase the use of graphite batteries.
Detailed Insights of Major Key Players Like:
Triton Minerals Ltd, Lamboo Resources Limited, Mason Graphite, Focus Graphite Inc., Energizer Resources Inc., Northern Graphite Corporation, and Others
Demand Analysis By Products, By Applications, By End-Users, By Regions and Revenue Analysis of Major Key Players of Global Market.
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Growth Drivers and challenges
Increasing investments in mining industry, rapid exploration of graphite mines across the globe; rising export and import of elements such as graphite owing to miscellaneous applications in automobile industries, rise in funding in automobile sector and steel refractories industry are some of the major key factors further trigger the demand for graphite in near future. In addition to this, factors like introduction of battery operated automobiles, technological advancements in steel and automobile sector, researches on compatible and high efficiency graphite batteries, rising demand of graphite electrode owing to its effective thermal and chemical properties, rising initiative to shift the industries towards energy efficient and less fuel consumption aspects in order to maintain environmental figures are prompting the demand for Graphite over the forecast period i.e. 2016-2023.
Moreover, increasing adoption of steel products which further estimated to raise the graphite demand in steel industries, strong and characteristic of high chemical inertness of graphite making it useful in several applications, rapid growth in manufacturing of electronic devices across the globe is anticipated the growth of graphite market.
However, high cost of extraction which further increase the cost of graphite, limited mines of graphite needs long transportation and handling facilities, slowdown in mining in several nations owing to economic crisis are some of the factors likely to inhibit the growth of Graphite market in near future.
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