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Asia Pacific Graphite Market Size is predicted to see lucrative gains over 2019-2025

Author : Ronak Bora | Published Date : 2019-07-09 

Asia Pacific is expected to dominate the graphite market size globally. Booming automobile and electronic market especially the smartphone industry in China will help the graphite market to flourish in the forecast period owing to the increasing demand for rechargeable and long-life batteries. Graphite in the production of batteries helps in its running for long hours after getting fully charged. China produces over 780 kilo tons of graphite which is the highest worldwide. Therefore, it can supply to various battery producers worldwide which will advance the graphite market size globally.

Based on type, graphite market size is segmented into natural and synthetic graphite. Synthetic graphite is a bit expensive compared to the natural graphite due to its complex production process and increased strength & conductivity to heat and electricity. Moreover, the synthetic graphite possesses the ability for good thermal conductivity, corrosion resistance and low permeability. It has its main application in chemical industry, for usage in reaction tank, heat exchanger, absorption tower, chemical filters etc. It can function as a better electrode during the production of steel. China is adamant to rule the global graphite market, due to which heavy industrialization is in play for expanding the production capacities of many Chinese graphite manufacturers such as Shanshan Technology, and LuiMao Graphite which would also expand the global graphite market size by 2025.

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According to applications, the graphite market is divided into refractory, battery, foundry, lubricant, friction product and other applications. The battery segment is expected to boom during the forecast period which will amplify the graphite market size. Various countries around the world are initiating plans for reducing pollution and making the environment green such as the Blue-Sky program in China, which monitors the level of exhaustions from the vehicle. The program is propagating the use of electronic vehicles or battery powered vehicles which is not only an ecofriendly measure but will also enhance the graphite market size as graphite is the main component in producing these rechargeable or lithium-ion batteries.

Graphite Market size is expected to augment significantly with a moderate rate of CAGR during the projected timeframe. Graphite properties such as high electrical conductivity, lubricity and excellent chemical resistance make it suitable for several end-use applications. Rapid electronic and automotive industries growth in Asia Pacific will also help in enhancing the graphite market size due to the high demand for batteries in the aforementioned industries. Chinese organizations such as BTR New Energy Materials, Shanshan Technology, LuiMao Graphite and BAIC Automotive Group are producing graphite anodes for lithium-ion battery through their combined factories with a production capacity of 260,000 metric tons of graphite per year. China is pushing its efforts to triple its graphite production till 2020 to meet the fast-growing lithium-ion battery market demand.

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Graphite market size is shared among various graphite manufacturing contributors. Some of these key players involved in the business are Graphite India, GrafTech International Holdings, Triton Minerals, SGL Group, Mason Graphite, AMG Advanced Metallurgical Group N.V., Toyo Tanso, HEG Ltd, Showa Denko K.K. and Tokai Carbon.

About Global Market Insights 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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