Future Market Insights delivers key insights on the global graphite market in an updated version of the report and provides historical market size and volume analysis for the years 2012-2016 and forecast up to 2027. Considering the impact of macro-economic factors, relatively lack-lustre growth in certain key graphite consuming countries, and steel production, among others, the graphite market was valued at US$ 15,763 Mn in 2016, as against a market value of US$ 16,128 Mn estimated in the previous version of the report. The long-term outlook on the global graphite market remains positive, with market value expected to increase at a CAGR of 6.7% during the forecast period 2017– 2027. Among product types, Natural and Synthetic graphite are expected to expand at a significant CAGR in terms of value over the forecast period. Among applications, the refractories market continues to be the major application area for graphite. However, increasing demand for electric vehicles globally is anticipated to boost the demand for graphite in future. Sales of graphite is estimated to be valued at US$ 16,740 Mn by the end of 2017. Asia Pacific is estimated to account for a value share of 35.8% in the global graphite market by 2017 end and it is anticipated to retain its dominance throughout the forecast period.
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Global Graphite Market: Segmentation Analysis
On the basis of product type, synthetic graphite is expected to dominate the overall graphite market owing to its vast application across key end-use industries. Furthermore, demand for natural graphite is also increasing owing to its increasing adoption in applications such as batteries. Natural graphite segment accounted for 43.3% of the overall volume share in 2016.
On the basis of application, the refractories segment is expected to dominate the global graphite market over the forecast period. The segment is anticipated to hold 42.7% of the overall volume share by 2027. The batteries segment is anticipated to be the most attractive segment in the global graphite market with a CAGR of 10.9% over the forecast period.
Global Graphite Market: Regional Analysis
Asia Pacific is expected to dominate the global graphite market throughout the forecast period. The region is anticipated to grow at a CAGR of 8.0% owing to a high demand for graphite related products in the region. Furthermore, increasing demand for electric vehicles, especially in China adds up to the overall high demand for graphite in the Asia Pacific region. North America and Western Europe also account for a significant revenue share owing to a high demand for graphite in automotive applications. Latin America has also shown increasing demand over the past few years. Middle East and Africa is anticipated to show steady growth over the forecast period.
Global Graphite Market: Vendor Insights
Some of the key players reported in the study of the global graphite market include AMG Advanced Metallurgical Group N.V., Showa Denko K.K., Toyo Tanso Co., Ltd., SGL Carbon SE, Tokai Carbon Co., Ltd, Graphite India Limited, Nippon Carbon Co., Ltd., HEG Limited, SEC Carbon, Limited, Imerys S.A., GrafTech International Ltd., Mersen Group. Fangda Carbon New Material Co., Ltd., Dongguan Kaijin New Energy Technology Co., Ltd., Pingdingshan Oriental Carbon Co., Ltd.
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Global Graphite Market Analysis, by Product Type
Global graphite market is expected to be dominated by synthetic graphite in terms of value. Synthetic graphite is projected to grow at a CAGR of 6.8% over the forecast period with a value share of 92%. Synthetic graphite is costlier than natural graphite owing to complex production process. Demand for natural graphite is also growing as it is finding increasing application in batteries and other segments. Natural graphite is anticipated to register a volume share of 41% by the end of 2027.
Global Graphite Market Analysis, by Application
The Batteries segment is expected to dominate the global graphite market among applications. The segment is anticipated to record a CAGR of 10.9% over the forecast period. Batteries used in electric and hybrid electric vehicles require a large amount of graphite. Furthermore, high global demand for electric vehicles has further made the batteries segment as the most promising segment for an increase in demand for graphite globally.