Graphite Powder Market Analysis

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: