Graphite Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis by Forecast 2030

The steel industry uses a large volume of graphite due to its high corrosion resistance, strength, and durability. In recent years, the production of steel has significantly surged due to the increasing requirement for steel products in the residential, automotive, construction, and oil and gas industries. Thus, the spurring demand for steel from these end-use industries will accelerate the graphite market at a 7.4% CAGR during 2020–2030. According to P&S Intelligence, the market will grow from $19,092.9 million in 2019 to $36,889.1 million by 2030.

Synthetic graphite is also used in the manufacturing of electrodes for electric arc furnaces, which are utilized in the development of metallic products. The rising adoption of this type of graphite can be credited to its superior thermal expansion, high-temperature resistance, low cost, and excellent thermal shock resistance. Essentially, the increasing adoption of synthetic electrodes can be owed to the soaring production of iron and steel in developing countries, especially India and China, and surging availability of steel in China.

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Thus, Asia-Pacific (APAC) consumed the highest quantity of graphite, wherein China adopted the largest volume. Additionally, the APAC graphite market is also expected to demonstrate the fastest growth in the coming years due to the expanding EV and consumer electronics industries, which require Li-ion batteries in abundance. Moreover, the unearthing of new mineral deposits and escalating production and import of graphite in APAC will amplify its usage in the foreseeable future.

Elsewhere on earth, the rising preference for pebble-bed reactors over conventional reactors to produce electricity using uranium fuel will boost the adoption of graphite in the coming years. It is estimated that approximately 3,000 tons of graphite are required to operate a 1,000-Megawatt (MW) pebble-based reactor in the initial phase, while the annual need for the mineral is of 600–1,000 tons. These reactors use a large number of fuel pebbles that use a graphite matrix that hosts a large quantity of ceramic-coated fuel pellets.

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The widening application base of graphite has encouraged graphite producers to opt for mergers and acquisitions so that they can reach out to more customers. For instance, in December 2019, Showa Denko K.K. acquired Hitachi Chemical Ltd. for $8.8 billion to become a leading supplier of graphite to Li-ion battery manufacturers. Similarly, in April 2020, Tokai Carbon Co. Ltd. acquired TokaiCarbon Savoie SAS (formerly Carbon Savoie SAS), a France-based carbon and graphite manufacturer, for $183.0 million. With this acquisition, the former plans to diversify its portfolio with the products offered by the latter and attract more consumers in Europe.

Thus, the rising steel production and EV and consumer electronics adoption will augment the need for graphite in the immediate future.

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.