Graphite Market Market Analysis

Product Type (Natural Graphite, Synthetic Graphite)

The synthetic graphite segment is poised to garner 60% share of the graphite market by 2037. The segment’s growth can be attributed to its utilization in a variety of applications, including friction, foundry, electrical carbons, fuel cell bi-polar plates, coatings, electrolytic processes, corrosion products, conductive fillers, rubber and plastic compounds, and drilling operations. The purity of natural graphite ranges from around 70.1% to 99.0%, while synthetic graphite purity is usually above 99.0%.

Synthetic graphite is made of graphitic carbon that has been produced by graphitizing non-graphitic carbon, which is frequently utilized in the production of metals as well as in solar panels, battery systems, sports equipment, and pencils. Due to these factors, there is a rise in the global demand for synthetic graphite, resulting in segment growth in the market. According to research, an estimated 1.7 million tons of synthetic graphite are produced every year.

Application (Refractory, Metallurgy, Metal Fabrication, Lubricants & Crucibles, Foundry Facing, Batteries & Energy Devices)

The refractory segment in the graphite market is estimated to gain a robust revenue share of 30% in the coming years, impelled by the rising application of graphite as a refractory material, which is projected to grow soon due to its properties, such as heat resistance, stability, and high thermal properties.

Furthermore, the growth of this segment can also be attributed to rapid industrialization and the increased use of graphite in the iron and steel industries. In a study, it was observed that in a steelmaking process, the tip of the electrode is heated up to 3,000 degrees Celsius. Electrodes are made of graphite since only graphite is capable of handling such intensive heat. In addition to that, nearly 70%-80% of the graphite electrodes are used in EAF steelmaking.

In addition, graphite is also used as mold wash in several casting processes and facing sand by the foundry industry, which is counted as the second-highest use of this market. Ferrous castings account for the highest global share of many casting types, either by non-ferrous castings such as copper, aluminum, lead, zinc, magnesium, or titanium-based castings. The most popular uses for foundry-cast metals include automotive, pipelines, and machinery.

Our in-depth analysis of the global market includes the following segments: