The Lithium-ion (Li-ion) battery industry is expanding saliently with a record level growth of more than 20% per annum. The demand for Li-ion batteries has intensified the demand for Graphite as a key constituent which is poised to drive the global market growth for Graphite. According to a report published by Market Research Future (MRFR), the Global Graphite Market will grow moderately throughout the assessment period 2016 to 2027.
Graphite is used as an essential constituent in the production process across different industry verticals owing to its thermal stability, electrical conductivity, lubricating properties, etc. The widening range of applications for graphite in the production of brake lining, steel, lubricants, foundry facing, refractories, pencils, etc. is accelerating the demand for graphite globally.
Excessive exposure to graphite dust can cause a severe condition, Graphitosis, a form of pneumoconiosis. The strict laws enforced by governments for containing the excessive exposure of workers to graphite will hold the market growth mildly during the projection period.
By Form, the Global Graphite Market is segmented into natural, and, synthetic. The synthetic segment accounted for the most significant share in 2014 and is expected to continue its dominance throughout the projection period.
By Application, the global market for Graphite has been segmented into electrode, refractory, lubricant, foundry, battery, and, others. The electrode segment will make maximum profits during the review period.
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By Region, the Global Graphite Market has been segmented into Americas, Asia Pacific, Europe, and, Middle East & Africa. North America is the most prominent market for graphite globally owing to high demand from end-user industries such as electronics, photovoltaic, etc. Graphite One and Alabama Graphite have undertaken the initiative of turning graphite concentrate into CPSG for capitalizing the opportunities unfolded by Li-ion battery market which is one of the critical drivers of the market.
The growing demand for graphite in steel, automotive, battery, etc. industries have spiraled the revenue generation in Europe market. It will account for the second largest market size in the global market. The primary contributions of revenue will be generated from Germany, UK, and Russia.
Asia Pacific market is one of the largest markets growing at a fast pace. The key factor contributing towards the market escalation in the region is the abundance of graphite. According to a report published, India and China have the largest reserve of Graphite which will steer market growth across the assessment period. Middle East & Africa region will thrive steadily owing to increased demand from end-user industries during the forecast period.
The key players profiled by MRFR for a comprehensive analysis of market include Northern Graphite Corporation, Alabama Graphite Corp, Energizer Resources Inc., Lamboo Resources Limited, Focus Graphite Inc, Flinders Resources Limited, Mason Graphite Inc, and, Triton Minerals Limited among others. The competitive landscape of the market represents vigorous competition with each of the players striving to maximize their share of revenue by planning growth strategies which include development in drilling programs, acquisitions & mergers, agreements with end-user industries, innovative partnerships, etc.
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