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What is the Global Graphite Market Estimated to Reach in 2033
Graphite Market
Graphite is a multipurpose material that finds wide applications in electrical applications, lubricants, refractories, batteries, and steelmaking. The expansion of sectors such as electric vehicles (EVs) and renewable energy is driving upgraphite demand. Global graphite supply is under pressure due to the rising demand for graphite, a crucial component of lithium-ion batteries for electric vehicles and energy storage systems.
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In the aerospace sector, graphite is also extensively utilized for a variety of purposes. It allows for safe jet fuel propulsion without sparking in carbon/graphite blades, rotors, rocket impellers, and rocket engine nozzles. Demand is increased by graphite's capacity to seal permeability and self-lubricate, which prolongs aircraft life. In order to keep up with the growing demand, major growth prospects in the graphite market are presented by the expansion of end-use industries.
Key Takeaways from Market Study
According to Fact.MR, the global graphite market was valued at US$ 23.9 billion in 2022 and is projected to reach US$ 58.6 billion by 2033.
North America accounted for 20% of global graphite demand in 2022.
The European graphite market is expected to grow at a CAGR of 8.1% from 2023 to 2033.
In East Asia, Japan and South Korea are anticipated to experience CAGRs of 8.6% and 8.9%, respectively, together holding a 41.0% share of the regional market.
"Unleashing the Potential, Analyzing the Graphite's Key Role in Energy Storage" says a Fact.MR analyst.
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Key Companies Profiled in this report
Aoyu Graphite Group
Hunan Zhongke Shinzoom Technology Co., Ltd.
Mitsubishi Chemical
Nippon Graphite Industries, Ltd.
Qingdao Haida Graphite Co., Ltd.
Shanshan Technology
Showa Denko Materials Co. Ltd.
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Strategies for Expanding Markets
Global market participants are concentrating on partnerships and joint ventures while also consistently funding R&D to expand their product lines. For example:
In June 2022, Mitsubishi Chemical Holdings Group (MCHG) announced plans to increase the production capacity of natural graphite anode material from 2,000 tons/year to 12,000 tons/year at its Chinese subsidiary Qingdao Anode Kasei and affiliated company Qingdao Lingda Kasei.
In August 2021, Shanghai Shanshan, a subsidiary of Ningbo Shanshan, began construction of a production facility for anode material in Meishan City, Sichuan province. The new production line is expected to begin production in the 2023 fiscal year's first half.
Segmentation of Graphite Industry Research Report
By Product Type :
Natural
Flakes
Amorphous
Veins
Synthetic
By Application :
Electrodes
Refractories & Foundries
Batteries
Recarburisers
Lubricants
Friction Products
Others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the graphite market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product type (natural (flakes, amorphous, and veins), synthetic), application (electrodes, refractories & foundries, batteries, recarburisers, lubricants, friction products, and others and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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