Research Nester released a report titled “Graphite Market: Global Demand Analysis & Opportunity Outlook 2023″ which delivers a detailed overview of the global graphite market in terms of market segmentation by product, application, end-user, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
graphite is artificial graphite extracted from the refining of hydrocarbon materials and is produced at ultra-high temperatures. They possess the high strength-to-weight capability, high heat tolerance, strength, and rigidity. Owing to the growing demand for lithium-ion batteries from the electric vehicle industry and the expanding steel industries, the global graphite market is anticipated to record a notable CAGR over the forecast period, i.e., 2021-2029. The market is segmented by application into batteries & energy devices, metallurgy, nuclear, metal fabrication, refractory, foundry, and others, out of which, the metallurgy segment is anticipated to hold the leading share in the graphite market. The growth of the segment can be attributed to the huge production of electrodes made from graphite used in metallurgical applications as a source of energy for various manufacturing processes.
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Based on the regional analysis, the global graphite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is predicted to hold the highest share on account of the increasing demand for lithium-ion batteries and the rapidly expanding construction and automotive industry, where graphite is used massively, as well as for the presence of leading market players.
The demand for graphite is increasing significantly on account of the rapidly growing battery, steel, and aerospace industries. Moreover, owing to its favorable material properties such as high surface area, layered crystal structure, durability, and high heat tolerance, it is widely used in the production of efficient designs and lightweight structural parts in aircraft. Additionally, high purity levels and ability to support large batteries in emerging electric vehicles are some of the factors anticipated to drive the growth of the global graphite market. However, high price of graphite and stringent environmental regulations is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global graphite market which includes company profiling of Lamboo Resources Limited, Mason Graphite, Focus Graphite Inc., Energizer Resources Inc., Northern Graphite Corporation
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global graphite market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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