New York, NY -- (SBWIRE) -- 11/22/2018 -- According to the new market research report "Graphite Market, [By Product Type (Natural Graphite and Synthetic Graphite); By Application (Foundry, Refractory, Battery, Lubricant and Others); By Regions]: Market size & Forecast, 2018 – 2026", the market is expected to grow from USD 18.42 billion in 2017 to USD 28.33 billion in 2026, at a CAGR of 4.9% during the forecast period.

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Increasing demand for steel, aluminium and other metals from a wide range of industries has driven the demand especially for the synthetic electrodes, as this is essential for production of steel through electric arc furnace process. Moreover, graphite electrodes are also used for other metallurgy applications. The increasing number of novel and technologically advanced outlets globally that range from fuel cells to graphene is also expected to add to the sales figures of the product in the graphite market.

Carbon fiber, a type of graphite product has witnessed double digit growth for the past four consecutive years due to its immense need and hence increasing demand from a wide range of industries including automotive, aerospace, wind turbine and several others. Light weight and high strength of carbon fiber attributes are the major advantages for its significantly increasing demand over its counterparts and is adding on the growth of graphite market in the coming years.

Exploration of graphite has increased during the past few years. This has been due to development in several scenarios including deposit size, contained graphite and enterprise value or tone of product value, location suitability and availability (decrease in country risk), betterment of logistics segment, flake size distribution, authenticity in product purity, off take agreements and technology development has enabled in cutting down production timeframe.

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Substantially increasing product demand from numerous industrial uses is mainly attributed to its high grade deposit of flake graphite with lower stripping ratios to increase the graphite market. Moreover, modifications in jurisdictions ease of logistics among nations, reduction in production timeframe, and off-take agreements. Current product demand is directly related to several industrial applications such as automotive, refractory, lubricants and batteries. Although hi-tech battery anodes are driving product demand in the graphite market, refractories demand from the steel industry has been a dominant application segment for production and consumption of naturally occurring graphite, which is in tandem to the global steel production.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Graphite Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Competitive Landscape and Key Vendors

Globally graphite market is a fragmented market with several multinational players. The Asia Pacific region is also one of the top consumers of graphite worldwide. Other potential consumers include Japan, the U.S., India, Germany, Russia and South Korea. Product demand is scattered within the developed economies, mainly of the Western Europe, the U.S., Japan and China. The Chinese mainly dominated the natural graphite market where as production of synthetic graphite is distributed among several nations and every single producer plays a significant role in marinating the global demand supply scenario.

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Key Players

Some of the leading industry participants in the graphite market include Toyo Tanso Co. Ltd., Tokai Carbon Co. Ltd., HEG Limited, Graphite India Limited, Graftech International Ltd., Mersen Group, SGL Group, Energizer Resources Inc., Focus Graphite Inc., Mason Graphite, Inc., Hexagon Resources Limited, and Triton Minerals Ltd.

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