PUBLISHER: The Business Research Company | PRODUCT CODE: 1387586
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387586
“Graphite Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on graphite market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for graphite? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The graphite market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Graphite is classified as an allotrope, representing a specific crystalline form of carbon. It exhibits distinctive characteristics, including softness, the ability to cleave with minimal pressure, and an exceptionally low specific gravity. Graphite possesses a metallic luster and is opaque to light. It is typically found within metamorphic and igneous rock formations.
Graphite can be categorized into two primary types such as flake graphite and non-flake graphite. Flake graphite refers to a naturally occurring form of graphite characterized by its carbon composition and flaky morphology. Various graphite products are available, including natural graphite and synthetic graphite, which come in different size classifications such as jumbo, large, medium, small, and fine. Graphite finds application across a wide range of industries, including refractories, batteries, lubricants and crucibles, foundry processes, pencils, and various other applications.
The graphite market research report is one of a series of new reports from The Business Research Company that provides graphite market statistics, including graphite industry global market size, regional shares, competitors with a graphite market share, detailed graphite market segments, market trends, and opportunities, and any further data you may need to thrive in the graphite industry. This graphite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The graphite market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed during the historical period can be attributed to several key factors, including robust demand from the steel industry, increased usage in battery and energy storage applications, its essential role in refractories and the foundry industry, its significance in the automotive sector, and the emergence of new markets that have created additional demand for graphite.
The graphite market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to several key factors, including the continued expansion of the electric vehicle (EV) market, advancements in battery technology, increased demand for energy storage solutions, ongoing infrastructure development, and the global trend towards industrialization. Major trends expected in the forecast period encompass the increased focus on electrification and lightweighting, advancements in the use of advanced materials, the integration of additive manufacturing, the growing role of digitalization and connectivity in various industries, and an emphasis on collaboration and partnerships to drive innovation and growth.
The growing demand for electric vehicles (EVs) is expected to be a significant driver of growth in the graphite market. Electric vehicles are a type of automobile powered by electricity stored in batteries, eliminating the need for traditional internal combustion engines. Graphite plays a crucial role in the production of electric vehicles, particularly in the manufacture of lightweight and high-energy-density lithium-ion batteries. Graphite serves as the anode material in these batteries, facilitating efficient energy storage and release. For example, in September 2022, data from the International Energy Agency revealed that sales of electric vehicles nearly doubled in 2021 compared to the previous year, accounting for approximately 9% of the total sales share. This increase in sales contributed to a 4% point growth in 2021 and brought the total number of electric vehicles on the road to 16.5 million. As the demand for electric vehicles continues to rise, the graphite market is expected to experience significant growth, driven by the need for high-quality anode materials for lithium-ion batteries in the EV industry.
Graphite mining companies are adopting the use of autonomous vehicles to enhance productivity, reduce operational costs, and improve safety. Autonomous vehicles offer several advantages, including increased efficiency by minimizing delays, reduced operating costs, and improved accuracy and repeatability, thereby eliminating errors. For example, industry leaders such as Rio Tinto, BHP Billiton, and Fortescue Metals Group are actively deploying autonomous vehicles in their mining operations. These driverless trucks are effectively used to transport ore, contributing to improved operational efficiency and safety within the graphite mining sect
Companies in the general mineral market are actively developing innovative technologies, such as battery-related fabrication methods, to maintain their competitive position in the industry. Battery-related fabrication technology encompasses the various processes and techniques used in the manufacturing of batteries, including the production of battery cells, electrodes, and other components. As an example, in March 2022, Battrion AG, a Switzerland-based battery technology company, in collaboration with its partner Jagenberg Converting Solution GmbH, a Germany-based machine and equipment manufacturer, introduced Battrion's Aligned Graphite Technology for lithium-ion batteries. Aligned Graphite Technology represents a groundbreaking approach to fabricating lithium-ion batteries, enhancing the microstructure of negative electrodes. This improvement results in superior battery performance and faster charging capabilities. The technology also reduces cell resistance, leading to more efficient charge and discharge processes, ultimately offering cost savings in battery production. Importantly, it is compatible with standard graphite materials, requiring no modifications to existing manufacturing processes. These performance benefits have received validation from prominent automotive OEMs and cell manufacturers, and Aligned Graphite Technology holds the potential to transform the electric vehicle and high-power battery industry by optimizing energy storage and battery manufacturing.
In January 2023, Northern Graphite, a graphite-producing company based in the United States, established a partnership with Graphex, a UK-based manufacturer specializing in spherical graphite and graphene. Together, they embarked on a significant project aimed at producing battery anode materials in Canada. This project is designed to address the rising demand for anode materials essential for lithium-ion batteries, which play a crucial role in powering electric vehicles (EVs). Northern Graphite's expansion plans extend beyond their existing natural graphite production, incorporating feedstock sourced from their graphite mines in Canada and Namibia. They also intend to venture into the synthetic graphite market. This strategic collaboration reflects the industry's commitment to meeting the growing needs of the EV market and advancing battery technology.
Major companies operating in the graphite market include Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc., Triton Minerals Ltd., Alabama Graphite Corp., American Graphite Technologies, Anson Resources Ltd., Archer Materials Ltd., China Carbon Graphite Group, First Graphene Limited, Showa Denko KK, GrafTech International Ltd., BTR New Material Group Co. Ltd., Shanshan Technology Co. Ltd., Lianyungang Jinli Carbon Co. Ltd., Weaver Industries Inc., DMC Global Inc., Mercer Gasket & Shim Inc., Nippon Graphite Fiber Co. Ltd., Zoltek Corporation, Graphite One Inc., NextSource Materials Inc., Syrah Resources Ltd., Novonix Ltd., Elcora Advanced Materials Corp., Graphene Manufacturing Group, NanoXplore Inc., Asbury Carbons Inc., Zentek Ltd.
Asia-Pacific was the largest region in the graphite market in 2023. South America was the second largest region in the graphite market. The regions covered in the graphite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the graphite market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The graphite market consists of sales of mineral and its compounds which are used in refractory materials, the chemical industries, nuclear industries, electrical applications, and mechanical applications. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.