According to applications, the graphite market is divided into refractory, battery, foundry, lubricant, friction product and other applications.
Sellbyville, DE -- (SBWIRE) -- 12/11/2018 -- According to applications, the graphite market is divided into refractory, battery, foundry, lubricant, friction product and other applications. The battery segment is expected to boom during the forecast period which will amplify the graphite market size. Various countries around the world are initiating plans for reducing pollution and making the environment green such as the Blue-Sky program in China, which monitors the level of exhaustions from the vehicle. The program is propagating the use of electronic vehicles or battery powered vehicles which is not only an ecofriendly measure but will also enhance the graphite market size as graphite is the main component in producing these rechargeable or lithium-ion batteries.
Graphite Market size is expected to augment significantly with a moderate rate of CAGR during the projected timeframe. Graphite properties such as high electrical conductivity, lubricity and excellent chemical resistance make it suitable for several end-use applications. Rapid electronic and automotive industries growth in Asia Pacific will also help in enhancing the graphite market size due to the high demand for batteries in the aforementioned industries. Chinese organizations such as BTR New Energy Materials, Shanshan Technology, LuiMao Graphite and BAIC Automotive Group are producing graphite anodes for lithium-ion battery through their combined factories with a production capacity of 260,000 metric tons of graphite per year. China is pushing its efforts to triple its graphite production till 2020 to meet the fast-growing lithium-ion battery market demand.
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Graphite are a naturally formed 2-dimensional carbon polymers. It is a great conductor of electricity & heat and possess maximum natural strength. It can maintain its agility at very high temperatures exceeding 36000C and at the same time it is quite light weight and possess natural lubricity. It is a non-toxic polymer but can cause shortness of breath, repeated coughing, and chest pain due to the minute residual parts in the polymer's natural form. These breathing related problems may prove to be a hurdle for graphite market size. However, the prolific use of synthetic graphite minimizes all types of health concerns, which will boost the graphite market size in the near future.
Based on type, graphite market size is segmented into natural and synthetic graphite. Synthetic graphite is a bit expensive compared to the natural graphite due to its complex production process and increased strength & conductivity to heat and electricity. Moreover, the synthetic graphite possesses the ability for good thermal conductivity, corrosion resistance and low permeability. It has its main application in chemical industry, for usage in reaction tank, heat exchanger, absorption tower, chemical filters etc. It can function as a better electrode during the production of steel. China is adamant to rule the global graphite market, due to which heavy industrialization is in play for expanding the production capacities of many Chinese graphite manufacturers such as Shanshan Technology, and LuiMao Graphite which would also expand the global graphite market size by 2025.
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Asia Pacific is expected to dominate the graphite market size globally. Booming automobile and electronic market especially the smartphone industry in China will help the graphite market to flourish in the forecast period owing to the increasing demand for rechargeable and long-life batteries. Graphite in the production of batteries helps in its running for long hours after getting fully charged. China produces over 780 kilo tons of graphite which is the highest worldwide. Therefore, it can supply to various battery producers worldwide which will advance the graphite market size globally.
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Graphite market size is shared among various graphite manufacturing contributors. Some of these key players involved in the business are Graphite India, GrafTech International Holdings, Triton Minerals, SGL Group, Mason Graphite, AMG Advanced Metallurgical Group N.V., Toyo Tanso, HEG Ltd, Showa Denko K.K. and Tokai Carbon.
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