Market Synopsis:
Graphite has high conductive, thermal, and electrical stability. These properties have major applications in manufacturing electrodes and refractories which are operated at high temperatures in steelmaking process. They also provide excellent lubricating properties and utilized in automobile, metallurgy, moderator rods, pencil production, coatings and batteries.
Some of the prominent factors that positively influence the growth of graphite market are increasing steelmaking process, rising demand for lubricants, and carbon composites. Increasing industrialization along with rising income in the developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023. High adoption rate along with the increasing number of nuclear plants to meet the energy for the ever-growing population. Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards efficient automotive parts are estimated to fuel the growth of the market during the review period, 2017 to 2023. To decrease the vehicular greenhouse gas emissions, the world is shifting towards vehicles which are electrically driven. Increasing demand for electrically driven vehicles is anticipated to increase the consumption of graphite in making lithium based batteries is expected to drive the graphite market over the forecast period.
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Key Players:
Some of the prominent players operating in the global graphite market are Triton Minerals Limited (Australia), Hexagon Resources Limited (Australia), Mason Graphite Inc. (Canada), Focus Graphite Inc. (Canada), NextSource Materials Inc. (Canada), SGL Carbon SE (Germany), Mersen S.A. (France), GrafTech International Ltd. (U.S.), Graphite India Limited (India), and HEG Limited (India), among others.
Regional Analysis
Asia Pacific is estimated to be the largest graphite market followed by North America and Europe due to strong existence of steelmaking industries. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for graphite in lubricant manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for graphite, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of graphite based automotive batteries is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to increasing innovations. In Latin America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.
Market Segmentation:
The global graphite market is categorized on the basis of form, application by form type, and region. On the basis of form, the market is bifurcated into amorphous, and synthetic. On the basis of application by form type, the amorphous graphite market is categorized into metallurgy, pencil production, refractories, coatings, and lubricants. On the basis of application by form type, synthetic graphite market is segmented into aerospace, batteries, carbon brushes, electrodes, and moderator rods. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Manufacturers are shifting their focus in developing and producing more environmental friendly automobiles which contain release harmful chemicals is driving the electric driven vehicles which consume lithium based batteries. European graphite market is classified into Russia, Germany, U.K, Spain, Italy, and France. Comparatively Russia and Germany are expected to be the dominant region on account of increasing automobiles production coupled with increasing innovation. Moreover, the robust presence of automobile manufacturers along with the increasing consumption of lubricants is predicted to fuel the demand for graphite over the assessment period. In Central and South America, countries such as Brazil and Mexico is expected to witness significant market growth on account of increasing crude oil production combined with expansion of petroleum refining units. Asia Pacific is predicted to be the healthy growing market due to proliferation of nuclear plants in India and China. Moreover, rising number of passenger cars and heavy duty vehicles along with increased usage of lubricant is expected to drive the demand for graphite in this region.
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