Graphite Industry Is Slated To Expand 2.3x Over The Next Decade

The global graphite market is anticipated to expand between 2021 and 2031 at a compound annual growth rate (CAGR) of 8.5%, according to a report recently released by Fact.MR. Graphite demand is anticipated to increase over the course of the projection period, with the market predicted to reach a value of US$50 billion by the end of 2022.
Since graphite is a key cathode material used in EV batteries, Fact.MR, a provider of market research and competitive intelligence, forecasts that the market will experience high-end growth as a result of growing demand for electric vehicles and consumer preference for environmental stability and safety.

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The market will be stimulated by investments made in the integration of cutting-edge technology that assist the production of electric vehicles. Despite the exponential rise in the sales of electric vehicles, the COVID-19 outbreak that disrupted the supply chain and halted automobile production caused a significant decline in demand for graphite.

Sales of graphite decreased in the FQ-20 due to the global shutdown and disruption of export-import activities. However, due to greenfield and brownfield investments in the automotive, manufacturing, and other end-use industries, the industry is anticipated to rebound quickly.

What is the Role of the Metallurgy Segment in the Market?

The metallurgy sector of the market under analysis includes electrodes and refractories, casting, and foundries. Electric arc furnaces (EAFs) and ladle furnaces employ graphite electrodes to produce silicon metal, ferroalloys, steel, and other materials (LFs).

Because more steel is being produced in electric arc furnaces, there will likely be a greater demand for graphite. In refractories, natural graphite is used to make crucibles and mag-carbon bricks. Graphite is used as a liner in both electric arc furnaces and steel converters. These variables are expected to cause the metallurgy category to grow 1.3X by the end of 2031.

How is the Market Performing in North America and Europe?

Companies in Europe and North America are constructing an integrated graphite supply chain in response to the expanding demand for graphite anodes in the battery sector. The use of graphite is anticipated to increase in these sectors as investments in e-mobility and battery grid storage increase. In addition, it's expected that conventional end uses like steelmaking and refractories will continue to have a need over the coming few years.

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Key Segments Covered in the Graphite Industry Survey

By Product Type
• Natural Graphite
• Flakes
• Amorphous
• Veins
• Synthetic Graphite
By Application
• Electrodes
• Refractories & Foundries
• Batteries
• Recarburisers
• Lubricants
• Friction Products
• Others

Market Competition

Key actors in the market are using the organic approach to take advantage of opportunities by investing in the research & development of new technologies. Future objectives of economies worldwide are to develop emission-free vehicles and equipment where petroleum products are used for combustion and to produce energy.
Market players are focusing on strengthening their position owing to legislations being favorable and the availability of technological vigor. Few players are even inclining their interests to adopt strategies such as forming collaborations and JVs to increase their revenue generation capacity and involvement in the value chain.

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Key players in the Graphite Market

• Shenzhen BTR New Materials
• Shanshan Technology
• Showa Denko Materials Co. Ltd.
• Mitsubishi Chemical
• Nacional de Grafite
• Hunan Zhongke Shinzoom Technology Co., Ltd.
• Hensen Graphite
• Aoyu Graphite Group
• Qingdao Haida Graphite Co., Ltd.
• Nippon Graphite Industries, Ltd.
• Superior Graphite Co.

Key Takeaways from Market Study

• The global graphite market is anticipated to add 2.3X value by 2031.
• Investment by Phillips 66 to increase existing production capacity of graphite by 30 KT each year by 2025.
• East Asia to capture major chunk of the market and set to create an absolute $ opportunity of around US$ 14 Bn over 2021-2031.
• Among the applications, electrodes and refractories is projected to be the fastest-growing segment globally at a CAGR of 9.1% through 2031.

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This release was published on openPR.