Graphite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Graphite Market is Segmented by Type (Natural Graphite and Synthetic Graphite), Application (Electrodes, Refractories, Casting, and Foundries, Batteries, Lubricants, and Other Applications), End-user Industry (Electronics, Metallurgy, Automotive, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for graphite in volume (kilo metric ton) for all the above segments.

Market Snapshot

Graphite Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

The graphite market accounted for 2,892 kilo metric ton in 2020, and it is expected to register a CAGR of 5% during the forecast period, 2021-2026. The COVID-19 outbreak presented a challenging industry arena for the graphite market, as it slowed down the demand from the key end-user industries, like electronics, metallurgy, and automotive (including electric vehicles), owing to the lockdown measures of the COVID-19 pandemic. Furthermore, the production facilities of electronics parts were halted, owing to the logistics slowdown and unavailability of the workforce across the world.

Over the short term, the major factors driving the growth of the market studied include the augmenting demand from the burgeoning lithium-ion (Li-ion) battery industry and the rise in steel production in Asia and the Middle East. On the flip side, the development of substitute anode materials for lithium-ion batteries in high-end applications, stringent environmental regulations, and the impact of the COVID-19 outbreak are expected to hinder the growth of the market studied.

The growing usage of graphite in green technologies and the popularity of graphene are projected to offer opportunities for the manufacturers over the forecast period. The Asia-Pacific region is expected to dominate the market, and it is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Graphite is a soft crystalline allotrope of carbon, composed of graphene layers, having a steel-gray to black metallic luster and a greasy feel, which is used in batteries, electrodes, etc. The graphite market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into natural graphite and synthetic graphite. By Application, the market is segmented into electrodes, refractories, casting, and foundries, batteries, lubricants, and other applications. By end-user industry, the market is segmented into electronics, metallurgy, automotive, and other end-user industries. The report also covers the market size and forecasts for the graphite market in 16 countries across the major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo metric ton).

Type
Natural Graphite
Synthetic Graphite
Application
Electrodes
Refractories, Casting, and Foundries
Batteries
Lubricants
Other Applications
End-user Industry
Electronics
Metallurgy
Automotive (Includes EV/HEV Vehicles)
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

The Metallurgy Segment is Expected to Dominate the Market

The metallurgy segment of the market studied includes electrodes and refractories, casting, and foundries. Graphite electrodes are used in electric arc furnaces (EAF) and ladle furnaces (LF) for steel production, ferroalloy production, silicon metal production, and smelting process.

The rising production of steel using the electric arc furnace process is expected to increase the demand for graphite. In refractories, natural graphite is used in the manufacture of crucibles and mag-carbon bricks. Graphite is also used as lining in steel converters and electric arc furnaces. Different forms of alumina-graphite are used in continuous casting ware, such as nozzles and troughs, in steel molding applications. The surging usage of steel is expected to increase the demand for graphite. Graphite is also used in coating foundry facings, where the removal of hot metal is to be made easier. All these factors are expected to increase the demand for graphite from the metallurgy end-user industry.

Graphite Market Share

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The Asia-Pacific Region May Dominate the Market

China holds the largest share in terms of consumption and production capacity of graphite electrodes in the global scenario. China has produced nearly 520 thousand metric ton of graphite electrode, of which nearly 62% share was utilized for domestic consumption. In this scenario, graphite is being increasingly used by the steel-making industries for niche applications.

The current production capacity of UHP graphite electrodes in China is around 50 thousand metric ton per year. The demand for UHP electrodes in China is also expected to witness significant growth in the long term, and an additional capacity of over 50 thousand metric ton of UHP graphite electrodes is likely to be witnessed in the later phases of the forecast period.

The demand for lithium-ion batteries in China is expected to grow rapidly, owing to a rise in the adoption of new energy vehicles (NEVs) and ESS for on-grid and off-grid applications.

The development of NEVs is further boosted by the mandates put forth by the government. For instance, in 2018, the NEV credit mandate went into effect, thereby setting a minimum production requirement for the car manufacturing industry. Additionally, China has adopted a national New Energy Vehicle Subsidy Program to further boost the production of EVs.

Chinese manufacturers have rushed to install capacity for graphite electrodes, since the country began to commit heavily to higher rates of steel production via electric arc furnaces in 2017. The proportion of steel produced in electric arc furnaces in China may double from 10% in 2018 to around 20% by 2028. In this regard, the country has been steadily increasing the number of plants using electric arc furnaces for steel production. However, currently, due to the COVID-19 outbreak, the economic and industrial manufacturing activities have been affected significantly in the country.

India is the third-largest producer of iron and steel in the Asia-Pacific region. Iron and steel production in the country has been increasing at a rapid pace. The soaring demand for iron and steel from the automotive and infrastructure sectors in the country, along with governmental initiatives (such as the National Steel policy), is supporting the growth of steel production in India.

The production of steel in the country is expected to double by 2031, while a growth rate of about 1.5% in production was estimated for 2019. Such targets set for the country are likely to increase the demand for graphite electrodes in the future.

Due to all such factors, the market for graphite in the region is expected to have a steady growth during the forecast period.

Graphite Market Growth

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Competitive Landscape

The market for graphite is partially consolidated, with the top five players of natural graphite and synthetic graphite accounting for a major share of the market in their respective fields. The top five players of synthetic graphite are Hitachi Chemical Co. Ltd, Showa Denko K. K. (including SGL Carbon), BTR New Energy Materials Inc., GrafTech International, and Lianyungang Jinli Carbon Co. Ltd.​ The key players of natural graphite include Syrah Resources Limited, Qingdao Guangxing Electronic Materials Co. Ltd, Qingdao Black Dragon Graphite Co. Ltd, Mason Graphite Inc., and Tokai Carbon, among others.

Recent Developments

In October 2019, Tokai Carbon Co. Ltd acquired COBEX HoldCo GmbH, which is a manufacturer of carbon and graphite products.

In September 2019, Westwater Resources Inc. entered an agreement with an internationally renowned company to purchase natural flake graphite for its planned advanced battery materials processing facility.

In June 2019, Tokai Carbon Co. Ltd announced that it was planning to acquire COBEX HoldCo GmbH, which is a manufacturer of carbon and graphite products.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Augmenting Demand from the Burgeoning Lithium-ion Battery Industry

      2. 4.1.2 Increase in Steel Production in Asia and the Middle East

      3. 4.1.3 High Purity Levels of Synthetic Graphite​

    2. 4.2 Restraints

      1. 4.2.1 Development of Substitute Anode Materials in Lithium-ion Batteries in High-end Applications

      2. 4.2.2 Stringent Environmental Regulations

      3. 4.2.3 Impact of COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Type

      1. 5.1.1 Natural Graphite

      2. 5.1.2 Synthetic Graphite

    2. 5.2 Application

      1. 5.2.1 Electrodes

      2. 5.2.2 Refractories, Casting, and Foundries

      3. 5.2.3 Batteries

      4. 5.2.4 Lubricants

      5. 5.2.5 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Electronics

      2. 5.3.2 Metallurgy

      3. 5.3.3 Automotive (Includes EV/HEV Vehicles)

      4. 5.3.4 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Russia

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asbury Carbons

      2. 6.4.2 BTR New Energy Materials Inc.

      3. 6.4.3 Focus Graphite Inc.​

      4. 6.4.4 Graftech International Ltd

      5. 6.4.5 Hitachi Chemical Co. Ltd

      6. 6.4.6 Imerys Graphite & Carbon

      7. 6.4.7 Lianyungang Jinli Carbon Co. Ltd

      8. 6.4.8 Mason Graphite Inc.

      9. 6.4.9 NextSource Materials Inc. (Energizer Resources Inc.)​

      10. 6.4.10 Nippon Kokuen Group​

      11. 6.4.11 Northern Graphite Corp.​

      12. 6.4.12 Qingdao Black Dragon Graphite Co. Ltd​

      13. 6.4.13 Qingdao GuangxingElectronic Materials Co. Ltd​

      14. 6.4.14 SGL Carbon​

      15. 6.4.15 SHOWA DENKO K.K.

      16. 6.4.16 Syrah Resources Limited​

      17. 6.4.17 Triton Minerals Ltd

      18. 6.4.18 Tokai Carbon Co. Ltd

      19. 6.4.19 Westwater Resources (Alabama Graphite Corp.)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Usage of Graphite in Green Technologies​

    2. 7.2 Popularity of Graphene​

**Subject to Availability

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Frequently Asked Questions

The Graphite Market market is studied from 2016 - 2026.

The Graphite Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Hitachi Chemical Co. Ltd, SHOWA DENKO K.K., BTR New Energy Material Ltd, Qingdao Guangxing Electronic Materials Co. Ltd., Syrah Resources Limited are the major companies operating in Graphite Market.

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