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Market Insights:Market Research Future (MRFR) has revealed in its latest study that the Global Graphite Market is set to exhibit steady growth during forecast period 2017 to 2023. The increasing application of graphite across various industry verticals is likely to fuel demand globally over the next couple of years.
The adoption of the Lithium-ion (Li-ion) batteries is one of the key drivers fueling demand in the Graphite Market. Additionally, the application of graphite in the production process of brake lining, steel, lubricants, foundry facing, refractories, pencils, etc. is expected to catapult the Graphite Market on an upward trajectory.
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Graphite is expected to develop applications in new products which is likely to encourage the market players to strategies growth action plans. This, in turn, is poised to propel the growth of the Global Graphite Market. However, strict laws are being enforced to contain the ill-effects of Graphitosis, a form of pneumoconiosis, caused by overexposure to graphite. This is projected to hold the market growth mildly throughout the assessment period.
Industry News:
In August 2018, Australia based Bass Metals has sold its first 100t of premium graphite concentrate from its wholly-owned Graphmada large flake graphite mine in Madagascar.
In August 2018, Sri Lanka has acquired the latest technology for creating the breakthrough material ‘graphene’ from its own, high purity graphite deposits.
Competitive Dashboard:
Some of the key players profiled in the report by MRFR are Alabama Graphite Corp, Flinders Resources Limited, Northern Graphite Corporation, Focus Graphite Inc, Mason Graphite Inc, Lamboo Resources Limited, Triton Minerals Limited, and Energizer Resources Inc.
Market Segmentation:
By Form, the Global Graphite Market has been segmented into natural graphite and synthetic graphite. The synthetic graphite segment currently commands the maximum share in the market. It is likely to retain its dominance over the next couple of years.
By Application, the Graphite Market is segmented into electrode, refractory, lubricant, foundry, battery, and, others. The electrode segment accounted for the largest share of the market in 2014 and is estimated to command a significant fraction of the market across the review period.
Regional Analysis:
By Region, the Global Graphite Market is segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is likely to retain its dominance over the next couple of years. It is estimated to exhibit steady growth at 4.1% CAGR in terms of market valuation from 2015 to 2020. The region accounts for a significant share of the graphite produced all across the world, which is likely to affect the growth of the Graphite Market favorably. Other factors responsible for the growth and expansion of the graphite market in Asia Pacific is the rapid industrialization, increasing urbanization, rising disposable income, etc.
Europe is projected to thrive moderately at second spot throughout the review period owing to factors such as increasing demand for graphite in refractories, steel, battery, and automotive industries. North America is poised to remain a significant growth pocket through the assessment period. The growth of the region is attributable to the rising demand from the end-user industries.
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Release ID: 399024