Market Research Future Published a Research Study on Graphite Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023
Graphite Market Overview:
Graphite is one of the three key minerals used in batteries including lithium and cobalt. It is also used as the anode material in lithium-ion batteries. Hence, as a battery material, Graphite perceives a huge demand in the battery market. It is more than a USD 20 billion a year market, growing at over 20% every year. Owing to the proliferation of smart, personal and battery-operated devices, like cell phones, laptops, and cameras the Graphite market is growing pervasively.
Graphite is used as an essential constituent in the production process across different industry verticals owing to its thermal stability, electrical conductivity, lubricating properties, etc. The widening range of applications for graphite in the production of brake lining, steel, lubricants, foundry facing, refractories, pencils, etc. is accelerating the demand for graphite globally.
Market Research Future (MRFR) has revealed in its latest study that the global graphite market is set to exhibit steady growth during forecast period 2018 to 2023. The increasing application of graphite across various industry verticals is likely to fuel demand globally over the next couple of years.
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Graphite Market Segmentation:
By form, the global graphite market has been segmented into natural graphite and synthetic graphite. The synthetic graphite segment currently commands the maximum share in the market. It is likely to retain its dominance over the next couple of years.
By application, the graphite market is segmented into electrode, refractory, lubricant, foundry, battery, and, others. The electrode segment accounted for the largest share of the market in 2018 and is estimated to command a significant fraction of the market across the review period.
Graphite Market Regional Analysis:
By region, the global graphite market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is likely to retain its dominance over the next couple of years. It is estimated to exhibit steady growth at 4.1% CAGR in terms of market valuation from 2015 to 2020. The region accounts for a significant share of the graphite produced all across the world, which is likely to affect the growth of the graphite market favorably. Other factors responsible for the growth and expansion of the graphite market in Asia Pacific is the rapid industrialization, increasing urbanization, rising disposable income, etc.
Europe is projected to thrive moderately at second spot throughout the review period owing to factors such as increasing demand for graphite in refractories, steel, battery, and automotive industries. North America is poised to remain a significant growth pocket through the assessment period. The growth of the region is attributable to the rising demand from the end-user industries.
Browse key industry insights spread across 137 pages with 33 market data tables & 12 figures & charts from the report, “Graphite Market by Form (Amorphous, Synthetic), Application by Form Type [Amorphous (Metallurgy, Pencil Production, Refractories, Coatings, Lubricants), Synthetic (Aerospace, Batteries, Carbon Brushes, Electrodes, Moderator Rods)] and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/graphite-market-853
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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