Graphite Powder Market Share

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.