Isotropic Graphite market size was USD 1030.3 Million and it is expected to reach USD 1228.1 Million by the end of 2027, with a CAGR of 2.3% - Valuates Reports

Isotropic Graphite market size was USD 1030.3 Million and it is expected to reach USD 1228.1 Million by the end of 2027, with a CAGR of 2.3% during 2021-2027. Key drivers of the isotropic graphite market include the growing application in the photovoltaic industry. Graphite is an indispensable part of the semiconductor industry which will fuel the growth of the isotropic graphite market during the forecast period.

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Trends Influencing the Global Isotropic Graphite Market
Photovoltaic sector

Silicon-based solar cells are the foundation for the renewable energy sector. The entire value chain along the manufacturing processes operates at high temperatures and in corrosive conditions. Isotropic graphites fulfill the strict specifications of photovoltaic cells. It is used extensively in electrodes, heating elements, heat shields, insulation parts, and monocrystalline silicon ingot development. The graphite goes through a rigorous process of extrusion, purification, and molded vibration. Moreover, silicon carbide coatings are essential for increasing the shelf life of stressed components in convertor insulators. It is beneficial in thermomechanical and gas flow dynamics optimization for crystal growth furnaces. These factors will boost the growth of the isotropic graphite market during the forecast period.

Semiconductor industry

The rapid rise in usage of consumer electronic items has increased the demand for semiconductors across the world. Isotropic graphite forms the main material for the production of single-crystal silicon, susceptors, Ion implantation, hermetic sealing jigs, plasma CVD electrodes, and manufacturing equipment. Graphite has many beneficial properties. It is chemically inert, heat resistant, and an excellent conductor of electricity. As the material is highly conductive and provides strong resistance to corrosion it is ideal for use in lithium-ion batteries, mobile phones, LED bulbs and electric cars, etc. Isotropic graphite in combination with monolayer carbon is being harnessed to be used in modern electronics such as flexible touch screens for devices, sensors, and fiber optic cables. Spin transport electronics or spintronics are looking towards synthetic graphene as a potential use case for further application in quantum computing. It speeds up the entire processing time and generates lesser heat than conventional electric components. Such factors will boost the demand for the isotropic graphite market during the forecast period.

Electrical Discharge Machining

Isotropic graphite is the primary material for manufacturing EDM electrodes. They provide increased resistance to thermal shock, and have a low coefficient thermal expansion, along with superior geometric stability. High-quality machinability is provided with low wear capacity during sparking. The material adds value to the roughing and finishing operations. Plastic molds are manufactured with advanced mechanical strength for increasing the service life of the electrodes. This in turn will boost the growth of the isotropic graphite market in the forthcoming years.

Metallurgy industry

Isotropic or synthetic graphite is an important graphite mold in the continuous casting of non-ferrous and precious materials. Crucibles and cast crucibles are other important products manufactured from graphite. The electrodes are used in the mass production of electric steel and cathodes for the electrolysis of aluminum. Other applications include dies, mandrels, punch, sleeves, and spacers. There are continuous casting dies and hot press dies. All these applications will drive the demand for the isotropic graphic market in the subsequent years.

Isotropic Graphite Market Share
Based on type, the segmentations include the CIP method and Vibration Molding method.

Based on application, the photovoltaic industry is expected to dominate in the isotropic graphite market share due to the rapid transition toward renewable energy sources and favorable government initiatives for building solar power projects.

Based on region, Asia-Pacific will witness considerable growth in the isotropic graphite market share with China at 54% due to widespread expansion of end-user industries like photovoltaic and electronics sectors. North America is the second with a 13% share.

Isotropic Graphite Market by Type
CIP Method
Vibration Molding Method

Isotropic Graphite Market by Application
Photovoltaic Industry
Semiconductor Industry
Electrical Discharge Machining
Foundry & Metallurgy Field
Others

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This release was published on openPR.