Yahoo Finance Graphite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The graphite market accounted for around 2,700 kilo metric ton in 2021, and it is expected to register a CAGR of more than 5% during the forecast period, 2022-2027. The COVID-19 outbreak presented a challenging industry arena for the graphite market, as it slowed down the demand from the key end-user industries, like electronics, metallurgy, and automotive (including electric vehicles), owing to the lockdown measures of the COVID-19 pandemic.
New York, July 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Graphite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06155660/?utm_source=GNW
Furthermore, the production facilities of electronics parts were halted, owing to the logistics slowdown and unavailability of the workforce across the world.
Key Highlights
Over the short term, the major factors driving the growth of the market studied include the augmenting demand from the burgeoning lithium-ion (Li-ion) battery industry and the rise in steel production in Asia and the Middle East.
The growing usage of graphite in green technologies and the popularity of graphene are projected to offer opportunities for the manufacturers over the forecast period.
Key Market Trends
The Metallurgy Segment is Expected to Dominate the Market
The metallurgy segment of the market studied includes electrodes and refractories, casting, and foundries. Graphite electrodes are used in electric arc furnaces (EAF) and ladle furnaces (LF) for steel production, aluminum production, ferroalloy production, and smelting process.
The rising production of steel using the electric arc furnace process is expected to increase the demand for graphite. In refractories, natural graphite is used in the manufacture of crucibles and mag-carbon bricks.
Graphite is also used as lining in steel converters and electric arc furnaces. Different forms of alumina-graphite are used in continuous casting ware, such as nozzles and troughs, in steel molding applications. The surging usage of steel is expected to increase the demand for graphite.
According to World Steel Association, the total steel production in 11 months of 2021(Jan-Nov) stood at 1752.5 Mt, registering an increase of 4.5% compared to the same period last year.
According to the World Bureau of Metal Statistics, the global aluminum production witnessed a growth of 2.51% during 2019-20 and was recorded as 65.3 million metric ton in 2020.
All these factors are expected to increase the demand for graphite from the metallurgy end-user industry.
Asia-Pacific Region to Dominate the Market
China holds the largest share in terms of consumption and production capacity of graphite in the global scenario, mainly due to the immense demand from the budding sectors like lithium-ion battery production, electronics, steel production, the solar industry, and the nuclear industry.
In April 2021, Chinese nickel and stainless-steel giant Tsingshan Holding Group announced to invest 10.3 billion yuan (USD 1.57 billion) to build a lithium-ion battery plant in Guangdong province, which will be operated by the group’s battery unit. Tsingshan’s battery manufacturing unit REPT Energy Co aims to expand its annual production capacity for lithium batteries from 6 gigawatts currently to 200 gigawatt capacity by 2025 and the new plant in Foshan city.
India is the third-largest producer of iron and steel in the Asia-Pacific region. Iron and steel production in the country has been increasing at a rapid pace. The soaring demand for iron and steel from the automotive and infrastructure sectors in the country, along with governmental initiatives (such as the National Steel policy), is supporting the growth of steel production in India.
According to World Steel Association, the total steel production in 11 months of 2021(Jan-Nov) stood at 107.3 Mt, registering an increase of 19.3% compared to the same period last year, indicating towards an increasing trend.
In March 2021, Arcelor Mittal Steel signed INR 50,000 crore deal with Odisha government to setup a steel plant in the state. Such investments are likely to increase the demand for graphite electrodes in the future.
Due to all such factors, the market for graphite in the region is expected to have a steady growth during the forecast period.
Competitive Landscape
The graphite market is consolidated, with the top five players of natural graphite and synthetic graphite accounting for a major share of the market in their respective fields. Some of the key players for synthetic graphite are Jiangxi Zichen Technology Co.Ltd, Shanghai Shanshan Technology Co. Ltd, Betterui New Materials Group Co. Ltd, Shenzhen Xiangfenghua Technology Co. Ltd, and SHOWA DENKO K.K (not in any particular order).? The key players of natural graphite include Syrah Resources Limited, Shenzhen Xiangfenghua Technology Co., Ltd, Betterui New Materials Group Co., Ltd., Shanghai Shanshan Technology Co., Ltd, and Jiangxi Zichen Technology Co., Ltd, among others (not in any particular order).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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