Graphite is an allotrope of carbon and it is considered as one of the softest minerals, its applications range from pencils to automobiles. Graphite exhibits both metallic and non-metallic properties, therefore, can behave like a metal and conduct electricity, as well as act as a non-metal that resists high temperatures.
orth America is expected to account for second-highest revenue contributor owing to rising adoption of graphite in defence and aerospace sectors in the region.
Increasing adoption of graphite in end-use industries such as automotive, aerospace, and glass & ceramics industries is a major factor driving growth of graphite market. In addition, rising use of graphite in paints, insulation, and electronic gadgets is another factor expected to support growth of the global graphite market over the forecast period. In addition, increasing usage of graphite in industries where there is need for a good quality lubricant, high temperature-resistant product, etc., are other factors expected to drive growth of the global graphite market.
Primary factors hampering market growth include continuously increasing cost of graphite and stringent rules and regulations regarding manufacturing synthetic graphite.
The global graphite market report has been segmented on the basis of type, application, and region. On the basis of region, the global graphite market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Among all the applications, lubrication, refractories, foundry, battery production, and others (Automobile, diamond synthesis, electrolysis), refractories accounted for major revenue share compared to other applications.
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The market in Asia Pacific expected to dominate this market owing to factors such as increasing demand for graphite in electronics and reactionary industry in countries in the region. In addition, the market in North America is expected to account for second-highest revenue contributor owing to rising adoption of graphite in defence and aerospace sectors in the region.
Some key players in the global graphite market include Northern Graphite Corporation, Asbury Graphite Mills, Inc., Energizer Resources Inc., Mason Graphite, Flinders Resources Ltd., Focus Graphite Inc., Showa Denko K.K., SGL Carbon SE, SEC Carbon Limited, and Graphite India Limited.