Published : 3 years ago, on 22/11/2021

Increasing use of graphite in the production of lithium-ion batteries will improve its demand over the coming years. Demand for electric vehicles batteries also will result in higher adoption of graphite in the production of electrodes and refractories & foundries. This will create attractive prospects for sales in the market through the course of the assessment period.

Investment towards integration of advanced technologies that support electric vehicle manufacturing will give impetus to the market. Despite exponential growth in electric vehicle sales, demand in the graphite market plummeted to an extent as COVID-19 outbreak resulted in supply chain disruption and suspended automotive production.

With global shutdown and disruption of export-import activities, sales of graphite declined in the FQ-20. Nevertheless, the market is expected to witness rapid recovery owing to the greenfield and brownfield investments within automotive, manufacturing, and other end-use industries.

As per Fact.MR, increasing application of synthetic graphite in the production of electrodes and refractories will spur the sales. The electrodes and refractories segment will register impressive growth at 9.1% CAGR during the forecast period.

Besides this, graphite application in the production of steel is accelerating. Rising use of graphite in steel moulding for casting ware and to cover foundry facings will boost growth opportunities in the market. As per Fact.MR, over 65% of the graphite sales are expected to be contributed by steel production, refractories & foundries, friction products, and recarburizers.

“Increasing need for sustainable and eco-friendly transportation facilities have created opportunities for the graphite market growth. In order to gain competitive edge, leading players are investing heavily in developing sustainable synthetic graphite. This is expected to help in growth of the market in the coming years,” says a Fact.MR analyst.

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Key Takeaways from Graphite Market Survey

• In terms of application, batteries segment will register growth at 14.1% CAGR during the forecast period
• Synthetic graphite is expected to emerge as the top-selling product, accounting for nearly 60% of market share
• In terms of product, flake graphite segment will account for 50% of natural graphite market share
• With nearly 500 KT of graphite electrodes production in China, the market will witness positive growth across East Asia
• The U.S. and the U.K. are expected to emerge as the most lucrative markets in North America and Europe owing to the increasing investments in e-mobility and battery grid storage
• China will lead the East Asia market, with sales of graphite reaching over US$ 7.1 Bn in East Asia

Key Drivers

• Surging application in the production of lithium-ion batteries and fuel cells will accelerate the sales
• Growing use of graphite in the wind energy industry will improve growth in the market
• Increasing application of graphite for manufacturing structural and frictional composite parts of aircrafts will boost the market

Key Restraints

• Increased production of low-cost and low-quality graphite will act as challenge for market players
• Insufficient production capacity in emerging economies is likely to restraint the market growth

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Competitive Landscape

Key players are adopting organic strategies such as research and development activities to expand their product portfolio. Inorganic strategies such as collaborations and mergers are also on the card for leading players to increase their revenue. For instance,

• In July 2021, Ceylon Graphite Corp., announced the incorporation of its wholly-owned subsidiary, Ceylon Graphite Technologies Ltd., to develop innovative applications for value graphite and graphene in multiple market segments, focusing on battery anode graphite into vehicle electrification.
• In January 2021, Tirupati Graphite, Tirupati Graphene, and Mintech Research Centre, received its first contact, which is focused on graphene manufacturing, graphene applications development, and minerals processing technology development.
• In September 2021, Mason Graphite Inc., received its final TSX Venture Exchange acceptance for its acquisition of Black Swan Graphene Inc. for its strategic assets related to a patented graphene processing technology from Thomas Swan & Co. Ltd.

Some of the leading market players operating in the graphite market profiled by Fact.MR are:

• 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.
• Others

More Valuable Insights on Amorphous Graphite Market

In its latest report, Fact.MR report on global graphite market offers unbiased analysis, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 and 2031. The study also provides detailed analysis on the market which is segmented on the basis of:

By Product Type:

• Natural Graphite
• Synthetic Graphite

By Application:

• Electrodes
• Refractories & Foundries
• Batteries
• Recarburisers
• Lubricants
• Friction Products
• Others

Key Questions Covered in the Graphite Market Report

• The market survey also highlights projected sales growth for graphite market between 2021 and 2031
• The report offers insight into graphite demand outlook for 2021-2031
• Graphite market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
• Graphite market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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