Graphite Market Analysis, Segments, Leading Player, Application & Forecast to 2032

 The graphite market is expected to expand at a healthy CAGR of 6.5% between 2022 and 2032 when it is projected to reach a value of US$ 43,357.6 Million. The graphite market, which was worth US$ 21,609.2 million in 2021, is anticipated to grow to US$ 23,097.7 million in 2022.

The escalating application of graphite in various end-use industries like batteries, foundry facing, lubricants & crucibles, refractories, and others drive the graphite market to grow over this period of observation. The advantages of using graphite such as good thermal and electrical conductivity, lubricity, chemical resistance, and others propel the adoption of graphite in various industries.

One of the primary market drivers of graphite is the expanding electric vehicles sector. Graphite is used in the production of anodes that are needed in batteries, particularly for electric vehicles. Also, rising concerns for the environment coupled with increasing awareness about pollution and such foster growth for electric and hybrid electric vehicles.

In addition to this, escalating demand for solar panels all over the world along with an increase in the need for Li-ion batteries in electric vehicles will further propel the target market. The usage of graphite in solar panels lessens the cost and optimizes efficiency.

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“Expanding electric vehicle sector along with an elevated demand for solar panels are expected to fuel the graphite market over the forecast period,” says an FMI analyst. 

Competitive Landscape 

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., Advanced Biopolymers AS, Mahtani Chitosan Pvt. Ltd Vardhman Acrylics Ltd. and others are some of the major players in the graphite market profiled in the full version of the report.

Leading market players are keen on entering and expanding their businesses in emerging economies. Other players are concentrating on the integration of advanced manufacturing technology to produce high-purity graphite to comply with the escalating demand.

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