Graphite Powder Market size was over USD 16.11 billion in 2023 and is poised to exceed USD 31.14 billion by 2036, witnessing over 5.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of graphite powder is estimated at USD 16.78 billion. The primary growth for the graphite powder market is the expansion of construction industry across the world. Recent estimates calculated that the revenue collected by the construction industry was almost USD 2 trillion in 2019.
A non-metal, graphite is a form of coal has metallic processes such as high stiffness, strength, highly-durable and is a good conductor of electricity and heat. This calcium salt is commonly used in various processes such as die or cast, desiccant in building materials, immobilize casts, tablet excipient, an impression material in dentistry and many more. The chemical formula of graphite powder is CaSO4, in its purest form, which is non elastic in nature despite being soft and flexible. Owing to its great advantages, graphite powder in today’s date is being highly used in the construction industry. Thus, the increment in the expenditure made by several governments in the construction industry is forecasted to bring lucrative opportunities for the market in the assessment period. By 2030, the global construction industry expenditure is expected to propel to USD 18 trillion.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.2% |
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Base Year Market Size (2023) |
USD 16.11 Billion |
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Forecast Year Market Size (2036) |
USD 31.14 Billion |
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Regional Scope |
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The graphite powder market is segmented and analyzed for demand and supply by application into refractories, lubricants & crucibles, foundry facing, batteries, and others. Out of these the batteries segment is projected to garner the highest revenue by 2036, owing to the increased demand of batteries in the upcoming years. As per recent statistics, it is being revealed that the global demand of batteries is projected to rise from 190 GWh in 2020 to 2,000 GWh in 2030. Also, the growth in production of lithium-ion polymer (LIP) battery to balance the equation of demand and supply of electric vehicles is anticipated to bolster the market growth. As per recent estimates, the global LIP production is expected to rise from 500 GWh in 2020 to 1,500 GWh in 2025.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Our in-depth analysis of the global graphite powder market includes the following segments:
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By Form |
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By Product Type |
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By Application |
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Regionally, the global graphite powder market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is estimated to account for largest revenue share by 2036, owing to a burgeoning population and rapid industrialization. According to the World Bank data, 61% of the total population of East Asia and the Pacific lived in urban areas in 2021. In South Asia, however, around 35% of the total population was settled in urban areas during the same period. Also, the rising sales and production of vehicles in Asia Pacific is expected to be another growth factor for the expansion of the graphite powder market. As per data by the International Organization of Motor Vehicle Manufacturers, the production of vehicles in the Asia-Oceania region was 46,732,785 units, whereas the sales of vehicles were accounted for at 42,663,736 in the year 2021.
Author Credits: Rajrani Baghel
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