The global Graphite Market is anticipated to reach USD 28.33 billion by 2026 according to a new study published by Polaris Market Research
Graphite has been in the focus of several exploration companies in the present industry scenario, particularly owing to the developments in battery technologies related to the emerging electric vehicle and green energy market has positively influenced the graphite market growth. Exploration of graphite has increased during the past few years. This has been due to development in several scenarios including deposit size, contained graphite and enterprise value or tone of product value, location suitability and availability (decrease in country risk), betterment of logistics segment, flake size distribution, authenticity in product purity, off take agreements and technology development has enabled in cutting down production timeframe.
Natural graphite is a soft density with low density and metallic luster. It occurs in several forms including flake, amorphous and vein. Flexibility of the product along with it metallic and non-metallic properties makes it applicable for diverse industrial uses. Some of its non-metallic characteristics include high thermal resistance, lubricity and chemical inertness. Metallic properties include electrical and thermal conductivity. These make it suitable for several applications in various industrial appliances which further boost the graphite market growth. Artificially manufactured synthetic graphite from raw materials such as tar pitch and petroleum coke has also gained significant importance in the present industry scenario.
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Current product demand is directly related to several industrial applications such as automotive, refractory, lubricants and batteries. Although hi-tech battery anodes are driving product demand in the graphite market. Similarly, refractories demand from the steel industry has been a dominant application segment for production and consumption of naturally occurring graphite, which is in tandem to the global steel production. Product application in lithium batteries has gained significant momentum due to increasing interest in portable electronics, electric vehicles, and commercial energy storage systems. Some other potential growing market includes application of expandable graphite for insulation, foil and other fireretardant products. Hence with such increasing application segments, demand for graphite is expected to increase further over the forecast period.
Asia Pacific region was the leading regional market in the global graphite market. China was the largest producer and consumer globally and accounts for almost one third of global sales. The other major consumers in the region include India, the U.S., Japan and South Korea. The region’s growing end-use industries including refractory and automobile has lead to the increasing product demand.
Some of the leading industry participants in the global graphite market include Toyo Tanso Co. Ltd., Tokai Carbon Co. Ltd., HEG Limited, Graphite India Limited, Graftech International Ltd., Mersen Group, SGL Group, Energizer Resources Inc., Focus Graphite Inc., Mason Graphite, Inc., Hexagon Resources Limited, and Triton Minerals Ltd.