According to Fact.MR’s estimate, the global graphite market is projected to reach US$ 25.9 billion in 2023 and US$ 58.6 billion by the end of 2033, growing at a CAGR of 8.5%. The demand for graphite is probably being driven by the rising need for lithium-ion batteries, which are used in electric vehicles (EVs), portable gadgets, and renewable energy storage.
Because it is employed in the anode material to store and release lithium ions during charge and discharge cycles, graphite is an essential part of these batteries. The demand for graphite is predicted to increase as the EV market develops and renewable energy installations rise.
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Key Market Imperative
- Aoyu Graphite Group
- Hunan Zhongke Shinzoom Technology Co., Ltd.
- Mitsubishi Chemical
- Nippon Graphite Industries, Ltd.
- Qingdao Haida Graphite Co., Ltd.
- Shanshan Technology
- Showa Denko Materials Co. Ltd
Key Takeaways from Market Study
- The global graphite market size reported by Fact.MR for 2022 was US$ 23.9 billion
- The global graphite market size is estimated to reach US$ 58.6 billion in 2033
- North America accounted for one-fifth of global graphite demand in 2022
- The European market for graphite is projected to expand at a CAGR of 8.1% during 2023-2033
- The market in Japan and South Korea is slated to surge at 8.6% and 8.9% CAGRs, respectively with both countries together accounting for 41.0% share in the East Asia market
“Unleashing the Potential, Analyzing the Graphite’s Key Role in Energy Storage” says a Fact.MR analyst.
Market Growth Stratagems
Global market participants are concentrating on partnerships and joint ventures. To expand their product line, the corporations are consistently investing in their R&D expertise. For example,
Shanghai Shanshan, a domestic subsidiary of Ningbo Shanshan, a diversified new energy company, is on track to construct a production facility for anode material in Meishan City, Sichuan Province, southwest China, supporting the growth of the graphite market, by August 2021. Shanghai Shanshan is a Chinese manufacturer of lithium-ion battery materials.
At its Chinese subsidiaries Qingdao Anode Kasei and Qingdao Lingda Kasei, Mitsubishi Chemical Holdings Group (MCHG) will enhance the production capacity of natural graphite anode material from 2,000 tonnes per year to 12,000 tonnes per year in June 2022. The first part of the fiscal year 2023 is when the production line is expected to begin operating.
Industry Research Report
- By Product Type :
- Natural
- Flakes
- Amorphous
- Veins
- Synthetic
- Natural
- By Application :
- Electrodes
- Refractories & Foundries
- Batteries
- Recarburisers
- Lubricants
- Friction Products
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Predominant Questions Answered in This Report Are:
- Why are the graphite players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global graphite?
- Which regions are displaying the fastest growth in the graphite?
- What are the underlying micro-macroeconomic factors affecting the global graphite?
- Which segments will perform well in the products and services market over the forecasted years?
- In which markets companies should authorize their presence.
- What are the forecasted growth rates for the products and services market?
- What are the long-lasting defects of the industry?
- How share market changes their values by different manufacturing brands?
- What are the qualities and shortcomings of the key players?
- What are the major end results and effects of the five strengths study of industry?
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