Graphite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Graphite Market is Segmented by Type (Natural Graphite and Synthetic Graphite), Application (Electrodes, Refractories, Casting, and Foundries, Batteries, Lubricants, and Other Applications), End-user Industry (Electronics, Metallurgy, Automotive, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for graphite in volume (kilo metric tons) for all the above segments.

Market Snapshot

Graphite Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %
Graphite Market Key Players

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Market Overview

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. Furthermore, the production facilities of electronics parts were halted, owing to the logistics slowdown and unavailability of the workforce across the world.

  • 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.

Scope of the Report

Graphite is a soft crystalline allotrope of carbon, composed of graphene layers, having a steel-gray to black metallic luster and a greasy feel, which is used in batteries, electrodes, etc. The graphite market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into natural graphite and synthetic graphite. By Application, the market is segmented into electrodes, refractories, casting, and foundries, batteries, lubricants, and other applications. By end-user industry, the market is segmented into electronics, metallurgy, automotive, and other end-user industries. The report also covers the market size and forecasts for the graphite market in 16 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo metric ton).

Type
Natural Graphite
Synthetic Graphite
Application
Electrodes
Refractories, Casting, and Foundries
Batteries
Lubricants
Other Applications
End-user Industry
Electronics
Metallurgy
Automotive (Includes EV/HEV Vehicles)
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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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.
Graphite Market Trends

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.
Graphite Market Growth

Competitive Landscape

The market for graphite is partially 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 Showa Denko Materials Co., Ltd. (including SGL Carbon), BTR New Material Group Co., Ltd., GrafTech International, Lianyungang Jinli Carbon Co. Ltd, and Shanshan Technology.​ The key players (not in any particular order) of natural graphite include Syrah Resources Limited, Qingdao Guangxing Electronic Materials Co. Ltd, Qingdao Black Dragon Graphite Co. Ltd, Mason Graphite Inc., and Focus Graphite, among others.

Recent Developments

  • In October 2021, BlackEarth Minerals has signed a 50:50 joint venture (JV) agreement with Metachem Manufacturing to develop an expandable graphite facility in India. The upcoming plant will have an initial production capacity of around 2,000-2,500 tons per annum. Moreover, the capacity of the plant can be expanded in the coming years, up to 4,000 tons per annum.
  • In June 2021, Betterray (Sichuan) New Material Technology Co., Ltd., a wholly-owned subsidiary of Betterray Group, held a groundbreaking ceremony for the first phase of the lithium-ion battery anode material project with an annual output of 50,000 tons.
  • In May 2021, Huizhou Betterray New Material Technology Co., Ltd., a wholly-owned subsidiary of Betterray Group, held the commissioning ceremony of the second phase of the 40,000-ton anode electrode production line, to ease the supply pressure of graphite anode.
  • In July 2020, Tokai Carbon and Tokai COBEX completed acquistion of Carbone Savoie International SAS, a Carbon and Graphite Manufacturer.
  • In April 2020, HC Holdings K.K., a wholly owned subsidiary of Showa Denko have completed the acquisition of Hitachi Chemical.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Augmenting Demand from the Burgeoning Lithium-ion Battery Industry

      2. 4.1.2 Increase in Steel Production in Asia and the Middle East

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Type

      1. 5.1.1 Natural Graphite

      2. 5.1.2 Synthetic Graphite

    2. 5.2 Application

      1. 5.2.1 Electrodes

      2. 5.2.2 Refractories, Casting, and Foundries

      3. 5.2.3 Batteries

      4. 5.2.4 Lubricants

      5. 5.2.5 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Electronics

      2. 5.3.2 Metallurgy

      3. 5.3.3 Automotive (Includes EV/HEV Vehicles)

      4. 5.3.4 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Russia

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asbury Carbons

      2. 6.4.2 BlackEarth Minerals

      3. 6.4.3 BTR New Material Group Co.,Ltd.

      4. 6.4.4 Graftech International Ltd

      5. 6.4.5 Imerys Graphite & Carbon

      6. 6.4.6 Lianyungang Jinli Carbon Co. Ltd

      7. 6.4.7 Mason Graphite Inc.

      8. 6.4.8 Nippon Kokuen Group

      9. 6.4.9 Northern Graphite Corp.

      10. 6.4.10 Qingdao Guangxing Electronic Materials Co., Ltd.

      11. 6.4.11 SGL Carbon

      12. 6.4.12 Shanshan Technology

      13. 6.4.13 Showa Denko Materials Co., Ltd.

      14. 6.4.14 Syrah Resources Limited

      15. 6.4.15 Triton Minerals Ltd

      16. 6.4.16 Tokai Carbon Co. Ltd

      17. 6.4.17 Westwater Resources (Alabama Graphite Corp.)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Usage of Graphite in Green Technologies​

**Subject to Availability

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Frequently Asked Questions

The Graphite Market market is studied from 2017 - 2027.

The Graphite Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Showa Denko Materials Co., Ltd., BTR New Material Group Co.,Ltd. , Qingdao Guangxing Electronic Materials Co., Ltd., Mason Graphite Inc., Syrah Resources Limited are the major companies operating in Graphite Market.

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