Global Graphite Market to Reach US$17.56 Billion by 2020 owing to Surging Demand from the Global Automotive Sector

New York City, New York, August 28, 2015: According to the latest market research report released by Persistence Market Research, the global graphite market, which in 2013 stood at US$13.62 billion, is anticipated to expand at a CAGR of 3.7% between 2014 and 2020, thereby reaching a market value of US$17.56 billion by 2020. The report, titled “Global Market Study on Graphite: Battery Segment to Witness Highest Growth by 2020”, is available for sale on the company website.

Much of the demand for graphite comes from the automotive industry and the market for batteries. Graphite is a vital component that is used in manufacturing cylinder heads, exhaust systems, gaskets, motors, and clutch materials. Asbestos, which was earlier used in disk brake pads and linings, is increasingly being replaced by graphite, which ensures low noise braking and has no health effects on humans.

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Graphite is used widely in the production of CFRP (carbon-fiber reinforced plastic), the application of which was once restricted to Formula One cars and the aerospace industry. However, over the past couple of years, CFRP has been gaining much importance in the global market for passenger vehicles as well, because of its light weight.

The lightness of CFRP can be attributed to the presence of graphite in it. The demand for lightweight automobile components arises from the strict implementation of emission control norms. The use of graphite in green technology is also gaining a lot of importance. Graphite is used extensively in applications such as photovoltaic, electronic products, and energy storage. Lithium-ion batteries contain substantial amounts of graphite and almost 80 percent of the graphite produced worldwide is used in lithium-ion batteries.

The automotive industry is a major consumer of lithium-ion batteries and demand for the same has been increasing over the years. So the total demand for graphite from the market for lithium-ion batteries, coupled with demand for graphite from the automotive market, accounts for the biggest share in the global graphite market. Lithium-ion batteries are increasingly being used in power tools, tablets, laptops, portable media players, and smartphones. Such trends will further stimulate the demand for graphite in the forthcoming years.

According to this market research report, the global graphite market is segmented on the basis of form, end use, and geography. Based on form, this market is categorized into synthetic and natural graphite. The various types of synthetic graphite are graphite powder, graphite blocks, carbon fiber, and graphite electrodes. On the basis of end use, the global graphite market is segmented into battery, foundry, lubricant, refractory, and electrode.

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Some of the key companies in the global graphite market mentioned in the report are as follows: Tokai Carbon Co. Ltd., Showa Denko K.K., Asbury Graphite Mills Inc., Graphite India Ltd., SGL Carbon SE, Lamboo Resources Ltd., Alabama Graphite Corp., and Focus Graphite Inc.

Geographically, the market research report segments the global graphite market into Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific holds the highest share in the global graphite market owing to increasing application of graphite in the aerospace and automotive industries, solar power systems, pebble-bed nuclear reactors, and fuel cells. The Asia Pacific graphite market is fuelled by the key graphite markets in this region, namely India and China. Surging demand for metals and steel propels the demand for graphite electrodes in the Asia Pacific market. In terms of production, China holds a 70% share in the global graphite market.

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