Graphite Block Market – Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The global graphite block market size was approximately USD 15,657 million in 2019, and is anticipated to reach USD 34,689 million by 2030, at a CAGR of 6.8% during the forecast period.
Graphite is malleable in nature and possesses both metallic and non-metallic characteristics, rendering it appropriate for a wide range of applications in several industries. The non-metallic characteristics of graphite consists of high thermal resistance, lubricity, and chemical inertness, while the metallic characteristics exhibit electrical and thermal conductivity. Graphite is produced synthetically using raw material containing carbon which include tar pitch and petroleum-derived coke. Graphite's non-metallic properties include high thermal resistance, chemical inertness, and lubricity while electrical and thermal conductance includes its metallic properties. Graphite is synthetically produced by carbon containing raw materials like tar pitch and oil coke.
The demand for natural graphite directly commensurate with the growth in industrial applications including lubrication, refractory, battery and foundry production. The global graphite market is anticipated to showcase tremendous growth opportunities which is mainly attributed to the increasing demand for lightweight materials in manufacturing aircraft components such as polymers which are carbon fibre reinforced. Furthermore, the demand for battery manufacturing applications exhibit tremendous potential to the market, due to the rapid advancements in the technologies applied in the manufacture of lithium-ion batteries. Furthermore, the rise in graphite demand in steel sector as a liner for ladles and crucibles is also expected to drive the overall demand for graphite globally. Furthermore, additional factors such as substituting asbestos with graphite has also spiked the application of graphite in a wide variety of products. Due to increasing demands for lightweight materials in aircraft components, such as carbon fibre enhanced polymers, the global graphite market is expected to see various growth opportunities. Due to fast developments and advances in technologies used in the production of lithium-ion batteries, the battery production app has the greatest market potential on the market. Another important factor driving global demand for graphite is the increase in demand for graphite, particularly in the steel industry as a tin for crushed & planks. During the forecast period, the battery production segment should register a CAGR of 6.0 %.
The global graphite block market can be bifurcated on the basis of type, application and geography. Based on type, the global graphite block market can be categorized natural and synthetic. Based on application, the global graphite block market can be sub-segmented into lubrication, refractories, foundry, battery production and others. Geographically, the global graphite block market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Major players operating in the global graphite block market include Asbury Graphite Mills, Inc, Energizer Resources Inc., Northern Graphite Corporation, Flinders Resources Ltd, Mason Graphite, Showa Denko, Focus Graphite Inc., SEC Carbon Limited, Graphite India Limited and SGL Carbon SE among others.
