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

Market Overview

The Global Synthetic Graphite Market was valued at USD 2,369 million in 2020 and the market is projected to register a CAGR of over 4.5% during the forecast period (2021-2026).

COVID-19 has negatively impacted the market in 2020. During the pandemic, various manufacturing and production facilities such as steel plants, batteries, and other components production have been halted for quite a long period. For instance, the world crude steel output has declined by around 0.9% in 2020 compared to 2019. However, in the second half of 2020, with the ease of regulations, manufacturers have resumed production. This, in turn, is projected to drive the market in the coming years.

• Over the short term, major factors driving the market studied are increasing demand for electric vehicles and high purity levels of synthetic graphite. With the increasing government policies and support through subsidies across major economies, such as China, India, Japan, Canada, the European Union, and the United States, the sales and demand for EVs are increasing at a significant rate across the world, which is stimulating the growth of synthetic graphite market.
• On the flip side, high costs compared to natural graphite, stringent environmental regulations, and the negative impact of the COVID-19 pandemic are expected to hinder the growth of the market studied.
• Metallurgy dominated the application segment of the market, and it is expected to continue its dominance during the forecast period as well.
• Asia-Pacific dominated the market across the globe, with the largest consumption seen in countries, such as China, Japan, and India.

Scope of the Report

Synthetic graphite is a man-made substance manufactured by the high-temperature processing of amorphous carbon materials. The types of amorphous carbon used as precursors to graphite are many and can be derived from petroleum, coal, and natural or synthetic organic materials. The synthetic graphite market is segmented by type, application, and geography. By type, the market is segmented into Graphite Anode, Graphite Block, and Other Types. By application, the market is segmented into Metallurgy, Parts and Components, Batteries, Nuclear, and Other Applications. The report also covers the market size and forecasts for Synthetic Graphite Market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons) and revenue (USD million).

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Demand from Metallurgy Segment

• In metallurgical applications, graphite is used in several forms, such as electrodes, refractories, bricks, monolithic, crucibles, etc. During the production of steel or Ferro-alloys and aluminum, synthetic graphite is used as an anode in the electric arc furnace (EAF) method.
• Synthetic graphite electrodes are employed in metallurgical applications as a source of energy for the processes, including melting scrap iron in an electric furnace, refining of ceramic materials, manufacturing chemicals, such as calcium carbide, and other applications, that require high temperature and clean energy source.
• Synthetic graphite electrodes are made in various grades, like ultra-high power (UHP), high power (HP), and regular power (RP), based on electric current capability. High purity graphite electrodes are used to conduct electrical current to melt scrap steel. Synthetic graphite is used in various compositions, including at a purity of 99.99%. In most metallurgical applications, synthetic graphite is preferred to natural graphite, as they are known to handle very high electric currents, due to their high purity and conductivity.
• Some of the typical customers in the metallurgical application include metal producers and refractory producers. Synthetic graphite powders are used as a re-carburizer in this application.
• Electric arc furnace (EAF) in steel mils and iron and steel foundries use UHP electrodes (usually 350 mm and larger) and HP and UHP electrodes (usually 400 mm and smaller), respectively. Ladle metallurgy/refining furnace in steel mills employ UHP (usually 400 and 450 mm) and HP (usually 200 – 400 mm) electrodes. In fused mineral applications, the industry uses HP and some UHP (usually 350 mm and smaller). For zinc and copper melters, HP (usually 300 and smaller) is used. For coke purification, UHP (400 mm, extra densification steps) is employed.
• The growing crude steel production across the world is expected to affect the usage of synthetic graphite in metallurgical applications. According to the World Steel Association, the world crude steel production increased from 1,538 million tons in 2010 to 1,864.0 million tons for the year 2020.
• All the afore-mentioned factors are expected to show significant impact on the market over the forecast period.

To understand key trends, Download Sample Report