Graphite Market Size, Share, Driving Factors, Challenges, Sales and Revenue Forecast to 2022
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On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Synthetic Graphite
• Natural Graphite
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Graphite for each application, including
• Steel & Refractories
• Carbon Brushes
In Automotive industry carbon fibers are anticipated to be widely used instead of steel owing to the properties that carbon exhibits. Carbon fibers are lightest, strongest & stiffest and has better shock absorption. The main advantage of this fiber over steel and aluminum is that it does not rust and cause erosion. These factors drive the graphite market growth over the forecast period in automotive and aerospace industry. It is used in clutch materials, fire retardants, lubricants and brakes. Lithium ion batteries consists of around 80% graphite. For instance, an automotive company Tesla motors is expected to invest USD 5 billion in a new lithium ion battery factory on account of which demand for graphite over the forecast period is anticipated to increase. Advancements in steelmaking, metallurgy and manufacturing goods industry along with industrial applications are identified as major trends in the global graphite market.
Government initiatives to increase awareness among end users including industry players and consumers to go green by adopting environmental friendly materials in manufacturing processes is anticipated to increase the demand for graphite market. According to China's government plans 5.0 million battery-electric vehicles are expected to ply on roads in the future. This factor attributes to increase in demand for graphite market. Traditional demand for graphite is largely linked to the steel industry where it is used as a liner for ladles and crucibles, as a component in bricks which line furnaces (“refractories”), and as an agent to increase the carbon content of steel. Natural graphite is used to lubricate the dies and extrude hot steel. Increasing demand of steel on account of industrialization in developing economies including china, India and other countries is expected to drive the flake graphite market expansion.
The major challenges for market players in this industry is the increasing supply-demand gap. The rising demand of graphite in steel, energy, automotive and manufacturing industries may create a gap between the demand and supply balance in the foreseeable future. Depleting graphite reserves around the world are expected to impact the market growth. Due to the Illegal exploitation, extensive operations and poor management, graphite mining and processing in particular has caused considerable environmental damage in countries such as China.
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