Synthetic Graphite Market : A Strong Growth Outlook from 2023 to 2035
Research Nester released a report titled “Synthetic Graphite Market: Global Demand Analysis & Opportunity Outlook 2023-2035” which delivers detailed overview of the global synthetic graphite market in terms of market segmentation by product, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Synthetic graphite is an artificial graphite extracted from the refining of hydrocarbon materials and are produced at ultra-high temperatures. They possess high strength-to-weight capability, high heat tolerance, strength, and rigidity. Owing to the growing demand for lithium-ion batteries from the electric vehicle industry and the expanding steel industries, the global synthetic graphite market is anticipated to record a notable CAGR of 4% over the forecast period, i.e., 2023-2035. The market is segmented by application into batteries & energy devices, metallurgy, nuclear, metal fabrication, refractory, foundry, and others, out of which, the metallurgy segment is anticipated to hold the leading share in the synthetic graphite market. The growth of the segment can be attributed to the huge production of electrodes made from synthetic graphite used in metallurgical applications as a source of energy for various manufacturing processes.
Based on the regional analysis, the global synthetic graphite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is predicted to hold the highest share on account of the increasing demand for lithium-ion batteries and the rapidly expanding construction and automotive industry, where graphite is used massively, as well as for the presence of leading market players.
Wide-Scale Applications of Synthetic Graphite in Battery, Aerospace, Steel and E-Vehicles to Boost the Market Growth
The demand for synthetic graphite is increasing significantly on account of the rapidly growing battery, steel, and aerospace industries. Moreover, owing to its favourable material properties such as high surface area, layered crystal structure, durability, and high heat tolerance, it is widely used in the production of efficient designs and lightweight structural parts in aircrafts. Additionally, high purity levels and ability to support large batteries in emerging electric vehicles are some of the factors anticipated to drive the growth of the global synthetic graphite market. However, high price of synthetic graphite and stringent environmental regulations is estimated to hamper the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global synthetic graphite market which includes company profiling of SGL Carbon (ETR: SGL), Showa Denko Materials Co., Ltd., Asbury Carbons, XRD Graphite Manufacturing Co. Ltd., Graphit Kropfmuhl GmbH, GrafTech International (NYSE: EAF), Imerys Graphite & Carbon Switzerland Ltd, Canada Carbon Inc. (CVE: CCB), Mason Graphite (CVE: LLG) and Nippon Kokuen Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global synthetic graphite market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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