Synthetic Graphite Market Analysis

Application (Batteries & Energy Devices, Metallurgy, Nuclear, Metal Fabrication, Refractory, Foundry)

The global synthetic graphite market is segmented and analyzed for demand and supply by application into batteries & energy devices, metallurgy, nuclear, metal fabrication, refractory, foundry, and others. Out of these segments, the refractory segment is estimated to gain the largest market share of about 40% in the year 2037. The growth of the segment can be attributed to the dynamically surging industrial development, along with the radical expansion of the steel sector owing to the high rising demand and production of steel and stainless steel products throughout the world. For instance, with approximately 1.4 billion metric tons of estimated demand in 2023, Asia and Oceania are projected to be the leading consumers of finished steel products. Whilst, African steel demand is also predicted to reach around 43 million metric tons in the same year. In addition to this, expanding demand for refractory products from numerous industries including automotive, aerospace, metal manufacturing, building and construction, and so on is estimated to accelerate the segment growth further during the projected time frame.

End-user (Steel, Automotive, Electronics, Aerospace)

The global synthetic graphite market is also segmented and analyzed for demand and supply by end-user into steel, automotive, electronics, aerospace, and others. Amongst these five segments, the automotive segment is expected to garner a significant share of around 50% in the year 2037. The growth of the segment can be credited to the expanding demand and production of vehicles where synthetic graphite is highly used as a material in carbon fiber-reinforced plastics for automobile frames. In addition to this, the rising production of electric vehicle batteries as of the growing traction and demand for electrical vehicles including electric cars, e-bikes, and so on is also estimated to drive the segment growth further in the projected time frame. Based on a report, worldwide approximately 68 million automotive units were sold in the year 2021. On the other hand, the electronics segment is projected to witness a massive CAGR during the forecast period, owing to its being used as an exceptional material for various electronic applications such as electric motors, semiconductors, and the manufacturing of modern-day batteries. Hence, the increasing demand for semiconductors, electric motors along with various electronic products such as smartphones, tablets, and numerous household appliances amongst users worldwide is estimated to spur the segment growth further during the forecast period.

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