Graphite Market Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028 | Coherent Market Insights

 

Graphite Market

A carbon byproduct known as graphite is frequently utilised in refractories, lubricants, and building applications. It has a strong metal removal rate and great thermal shock resistance. Graphite is a non-metal material with great strength, stiffness, and excellent heat and electrical conductivity. They come in two varieties: natural graphite and synthetic graphite.

In terms of revenue, Asia Pacific accounted for 40.00% of the worldwide Graphite Market in 2020, followed by Europe and North America, in that order. Due to increased acceptance of graphite in refractories and increased usage of graphite in the production of structural composite parts used in aircrafts, the Asia-Pacific region now controls the majority of the global graphite market.

The Global Graphite Market Is Estimated To Be Valued At US$ 23,279.3 Million In 2021 And Is Expected To Exhibit A CAGR Of 13.2% Over The Forecast Period (2021-2028).

The Graphite Market is expanding due to the increasing use of nuclear pebble bed reactors. By 2020, 500 new pebble reactors, each with a 100 GW capacity, are anticipated to be erected in the United States, according to West Virginia University researchers. A high-temperature gas reactor that uses flake graphite as a moderator in huge quantities is what is known as a nuclear pebble bed reactor. A pebble bed reactor needs about 3000 tonnes of graphite on average, according to Coherent Market Insights study.

The Graphite Market is primarily being driven by the automotive sector's robust growth. Due to its small weight, high mechanical strength, and lubricating property, graphite is frequently utilised in the production of automotive parts like brake lining, clutch materials, and gaskets. It is also a perfect asbestos replacement because it is a great conductor of electricity. As a result, market growth is being driven by the rising demand for graphite from the automotive industry.

Profitable opportunities should present themselves in the near future due to the increasing use of graphite in green technology. The market expansion for graphite is also being aided by an emerging application, such as fuel cells. In addition, the market for graphite is experiencing a surge in demand from the wind energy sector, one of the most well-liked green technologies. Thus, it is anticipated that the market would rise in the near future due to the increasing use of graphite in green technologies.

Segmentations of Graphite Market-

·        By Product Type: Natural(Flake, Amorphous, Vein), Synthetic(Graphite Electrode, Carbon Fibre, Graphite Blocks, Graphite Powder, Others)

·        By Application: Refractories, Lubricants & Crucible, Foundry Facing, Batteries, Others

Press Release of Graphite Market

 

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