Graphite Market to be Worth US$ 58.6 Billion by 2033 | Fact.MR Report

Rockville , June 06, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global graphite market is estimated to be valued at US$ 25.9 billion in 2023 and is expected to grow at a CAGR of 8.5% during the forecast period of 2023-2033.

Graphite is a mineral with a wide range of applications, including steelmaking, batteries, lubricants, refractories, and electrical applications. The demand for graphite is increasing due to the growth of industries such as electric vehicles (EVs) and renewable energy. Graphite is an essential component in lithium-ion batteries, which are used in EVs and energy storage systems. This increasing demand has put pressure on the global graphite supply.

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Further, graphite is also extensively used in the aerospace industry for a variety of applications. Graphite is used in rocket impellers, rocket engine nozzles, rotors, carbon/graphite blades, and others that safely propel jet fuel without creating sparks that ignite the fuel. Graphite self-lubricating, and the ability to seal permeability extend aircraft life which further increases the demand for graphite. The growing end-use industries create a plethora of growth opportunities for the graphite market players to expand and curb the demand pool.

Key Takeaways from Market Study

• The global graphite market size reported by Fact.MR for 2022 was US$ 23.9 billion
• The global graphite market size is estimated to reach US$ 58.6 billion in 2033
• North America accounted for one-fifth of global graphite demand in 2022
• The European market for graphite is projected to expand at a CAGR of 8.1% during 2023-2033
• The market in Japan and South Korea is slated to surge at 8.6% and 8.9% CAGRs, respectively with both countries together accounting for 41.0% share in the East Asia market

“Unleashing the Potential, Analyzing the Graphite's Key Role in Energy Storage” says a Fact.MR analyst.

Key Companies Profiled in this report

• Aoyu Graphite Group
• Hunan Zhongke Shinzoom Technology Co., Ltd.
• Mitsubishi Chemical
• Nippon Graphite Industries, Ltd.
• Qingdao Haida Graphite Co., Ltd.
• Shanshan Technology
• Showa Denko Materials Co. Ltd.

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Market Growth Stratagems

Market players around the world are focusing on joint ventures and agreements. The companies are continuously investing in the research & development capabilities to enhance their product portfolio. For instance,

In August 2021, Chinese lithium-ion battery material manufacturer Shanghai Shanshan, a subsidiary of domestic diversified new energy firm Ningbo Shanshan, is on track to build a production facility for anode material in Meishan City in southwest China's Sichuan province, supports graphite market growth.

In June 2022, Mitsubishi Chemical Holdings Group (MCHG) increase the production capacity of natural graphite anode material from 2,000 tons/year to 12,000 tons/year at its Chinese subsidiary Qingdao Anode Kasei and affiliated company Qingdao Lingda Kasei. The production line is scheduled to start operation in the first half of fiscal 2023.

Segmentation of Graphite Industry Research Report

• By Product Type :
  • Natural
    • Flakes
    • Amorphous
    • Veins
  • Synthetic
• By Application :
  • Electrodes
  • Refractories & Foundries
  • Batteries
  • Recarburisers
  • Lubricants
  • Friction Products
  • Others
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the graphite market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of product type (natural (flakes, amorphous, and veins), synthetic), application (electrodes, refractories & foundries, batteries, recarburisers, lubricants, friction products, and others and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

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Carbon and Graphite Market Outlook: The global carbon and graphite market is anticipated to expand at a CAGR of 5.9%, rising from its current value of US$ 18 billion to US$ 32 billion by the end of 2033.

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