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Special Graphite Market Overview
Special Graphite
Market size is expected to be valued at US$1.3 billion by the end of the year
2027 and is set to grow at a CAGR of 10.6% during
the forecast period from 2022-2027. The increase in the demand for lithium-ion battery as graphite is a safe and reliable material
that provides sufficient energy density for many portable power applications
like mobile phones, laptops and others is driving the Special Graphite Market .
Other various types of special graphite such as extruded graphite,
molded graphite and isotropic graphite is widely used in
the electrical & electronics industry and automobile industry, which is hugely
driving the Special Graphite Market . Special Graphite Market is also driven by
the industrial development in many developing countries across the globe.
COVID-19 impact
During the
Covid-19 pandemic, the Special Graphite Market witnessed a sharp decrease in
the growth in terms of production, sales, marketing and distribution. The
global shutdown of markets across the countries impacted the Special Graphite Market hugely, which lead to the Special Graphite Market incurring huge losses.
The restrictions in the free flow of raw materials and products between other
states and countries played a huge toll on the Special Graphite Market. However, the Special Graphite Market saw a considerable amount of growth during the end
of year 2020 and is set to improve further during the year 2021.
Report Coverage
The report: “Special Graphite Market – Forecast
(2022-2027)”, by IndustryARC, covers an in-depth analysis of the following
segments of the Special Graphite Industry.
By Product Type: Isotropic Graphite (High
Density and Low Density), Anti-Isotropic Graphite, Extruded Graphite, Molded Graphite and Others.
By Application: Mold, Casting,
Semi-Conductors, Batteries, Lubricants and Others.
By End-Use
Industry: Photovoltaic
Industry, Foundry & Metallurgy, Electricals & Electronics, Automobile
Industry and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany,
UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of
Europe), APAC (China, Japan India, South Korea, Australia, New Zealand,
Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile
and Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Asia-Pacific market held the largest share in the Special Graphite Market owing to industrial development in the Asia-Pacific countries like India, China and Japan coupled with the growth of the automobile industry and electrical and electronics industry.
- The increase in the demand for lithium-ion battery from the automobile industry, electrical industry and other uses like power consumption is driving the Special Graphite Market.
- Special graphite is extensively used in the electrical and electronics industry for the manufacture of semiconductors and integrated circuit of various electronic devices.
- Though the Special Graphite Market witnessed a decline
in the growth during the COVID-19 pandemic in the beginning of the year 2020,
but is set to grow in the coming months of the year 2021.
FIGURE: Asia-Pacific Special Graphite Market Revenue, 2021-2027 (US$ Billion)
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Special Graphite Market Segment Analysis – By Product Type
Isotropic Graphite held the largest share of 34%
in the Special Graphite Market in the year 2021. Isotropic graphite are made with micro particles and
isotropic structures which helps in providing a stable and tighter properties
to the product. Isotropic graphite possess high reliability, ultra heat resistance, chemical resistance
and enhanced electrical conductivity which makes isotropic graphite a most preferred type of special graphite
in many key-use industries such as electrical & electronics industry and
automobile industry. The rising consumption of electronic devices, leading to
the increase in the production of semi-conductors is driving the isotropic graphite in the Special Graphite Market.
Special Graphite Market Segment Analysis – By Application
Semi-conductors
segment held the largest share of 36% in the Special Graphite Market in the
year 2021. The increase in the use of special graphite in semi-conductors is
driving the demand for special graphite from the semi-conductors segment in the
market. Special graphite has the ability of conducting electricity while also
transferring heat away, which makes it an excellent chemical to be used in
semi-conductors in the electrical & electronics market. The global sales of semi-conductors increased at a 6.5% to US $ 439
billion in the year 2020 from the year 2019. This is further driving the demand
for special graphite from the semi-conductors segment.
Special Graphite Market Segment Analysis – By End-Use Industry
Automobile industry held the largest share
of 40% in the Special Graphite Market in the year 2021. Special graphite is used in various
parts of automobile components ranging from battery, brake lines, brake shoes.
Special graphite are especially used in electrical vehicles, for its battery
and many other components. The sales of electric cars reached 2.1 million units
in the year 2019 and registered a year-on-year increase of 40%. The total
production of all the vehicles globally stood at 77,621,582 units in the year
2020, and the electric cars accounted for 2.6% of the sales. This will further drive
the demand of Special Graphite Market from the automobile industry.
Special Graphite Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 44% in the Special Graphite Market in the year 2021. The rapid growth of key-use industries such as electronics & electrical industry and automobile industry in countries like India and China coupled with the increase in the population is driving the Special Graphite Market in the Asia Pacific region. For instance, Epsilon Advanced Materials, a leading company supplying synthetic graphite anode materials, in India that aims to producing 5,000 metric tons (t) per year of the material and plans to increase output to 50,000 t by 2025. The firm also expects to spend around $70 million on the expansion, which is majorly driving the Special Graphite Market in the Asia-Pacific region.
Special Graphite Market Drivers
Increase in demand from Foundry & Metallurgy industry
The increase in demand for special graphite from the foundry and metallurgy production is majorly driving the Special Graphite Market. Molded Graphite is used for casting zinc, aluminium and other metals. This is increasing the need and demand for Special Graphite Market. According to World Steel Association, the total production of steel in the year 2020 was 1878 million tonnes, an increase of 0.485% as compared to the production of 1869 million tonnes of steel in the year 2019. There was a slight hike in the production of steel even during the Covid-19 pandemic in the year 2020. This is one of the major factor driving the demand for special graphite as it is used in the form of molded graphite in the foundry and metallurgy industry.
Various government research and initiatives
The various number of government research and initiatives
made on the possibility of using special graphite in various products and
applications is one of the major factor driving the Special Graphite Market.
For instance, according to Defence Materials and Stores Research and
Development Establishment (DMSRDE) India, carbographite material is an advanced
carbon composite having high strength, high resistance to wear, natural thermal
shock resistance properties which is widely used in defence weaponry, rocket
nozzles and other products. This is highly driving the use and demand of
special graphite in the defence industry. The increase in research and
development activities related to special graphite is one of the major factor
driving the Special Graphite Market.
Special Graphite Market Challenges
Availability of substitutes
The availability of a cheaper and efficient substitute like lithium titanium oxide is a major challenge to the Special Graphite Market. Lithium can be recharged any number of times and is also more stable than graphite. Lithium has higher energy density, voltage capacity and self-discharge properties which makes it an efficient material than graphite. Batteries made with lithium can charge faster and last longer, making it an economical and efficient substitute for graphite which is one of the biggest challenge to the Special Graphite Market.
Special Graphite Industry Outlook
Facility expansion, product launch production expansion, investments, collaborations, partnerships, acquisitions and mergers are some of the key strategies adopted by players in the Special Graphite Market. Major players in the Special Graphite Market are:
- Graphite India Ltd.
- Tokai Carbon Co. Ltd.
- Toyo Tanso Co. Ltd.
- Fangda Carbon New Material Co. Ltd.
- SGL Group
- GrafTech International Holdings Inc.
- Triton Minerals Ltd.
- Mason Graphite, Inc.
- Mersen
- Nippon Carbon among others.
Acquisitions/Technology Launches
- On August 24, 2020 Epsilon launched a new graphite anode material for lithium-ion batteries, which helped the company in diversifying its portfolio and manufacture high performance and quality carbon products for anode components of Lithium Ion Batteries (LiB).
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