Press release
Graphite Market Report 2024: Strategies And Recent Developments | Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Graphite Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The graphite market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to demand from steel industry, battery and energy storage, refractories and foundry industry, automotive industry, emerging markets.
The graphite market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electric vehicle (ev) growth, energy storage, battery technology advancements, infrastructure development, global industrialization. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Market Segmentation:
The main types of graphite are flake graphite and non-flake graphite. Graphite flake is a type of graphite mineral that occurred naturally and is made up of carbon with flaky morphology. The various product of graphite includes natural Graphite and synthetic Graphite that are available in different sizes such as jumbo, large, medium, small and fine. Graphite is used in refractories, batteries, lubricants/crucibles, foundry, pencils, and other applications.
Major Driver - Growing Demand For Electric Vehicles Fueling Growth In The Graphite Market
The growing demand for electric vehicles is expected to propel the growth of the graphite market going forward. Electric vehicles (EVs) are automobiles powered by electricity stored in batteries, eliminating the need for traditional internal combustion engines. Graphite is used in electric vehicles to make lightweight and high-energy-density lithium-ion batteries, serving as the anode material for efficient energy storage and release. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, which is nearly 9% of sales share, and increased by 4% points in 2021 as well, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles will drive the graphite market.
Competitive Landscape:
Major companies operating in the graphite market include Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc, Triton Minerals Ltd., Alabama Graphite Corp., American Graphite Technologies, Anson Resources Ltd., Archer Materials Ltd., China Carbon Graphite Group, First Graphene Limited, Showa Denko KK, GrafTech International Ltd., BTR New Material Group Co. Ltd., Shanshan Technology Co. Ltd., Lianyungang Jinli Carbon Co. Ltd, Weaver Industries Inc., DMC Global Inc., Mercer Gasket & Shim Inc., Nippon Graphite Fiber Co. Ltd., Zoltek Corporation, Graphite One Inc., NextSource Materials Inc., Syrah Resources Ltd., Novonix Ltd., Elcora Advanced Materials Corp., Graphene Manufacturing Group, NanoXplore Inc., Asbury Carbons Inc., Zentek Ltd.
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Top Trend - Northern Graphite And Graphex Partner To Revolutionize Battery Anode Material Production For Electric Vehicles
In January 2023, Northern Graphite, a US-based graphite-producing company, partnered with Graphex to develop a huge battery anode material project in Canada to meet the growing demand for anode material for use in the lithium-ion batteries that are required to power electric vehicles (EVs), and the company plans to expand in scale and beyond its base of natural graphite using feedstock from its graphite mines in Canada and Namibia, as well as into the synthetic graphite market. Graphex Group Ltd. is a UK-based manufacturer of spherical graphite and graphene.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Graphite Market Characteristics
3. Graphite Market Trends And Strategies
4. Graphite Market - Macro Economic Scenario
5. Graphite Market Size And Growth
…..
27. Graphite Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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