Synthetic Graphite Market Share

APAC Market Statistics

The Asia Pacific synthetic graphite market, amongst the market in all the other regions, is projected to hold the largest market share of about 45% by the end of 2037. The growth of the market can be attributed majorly to the increasing demand for synthetic graphite for the manufacturing of batteries, and electronics products. For instance, China manufactured almost 80% of all lithium-ion batteries produced globally in 2021. Moreover, expanding demand for semiconductors, graphite electrodes, and carbon fiber-reinforced plastic is also estimated to drive the market growth further throughout the projected time frame in the region. In addition to this, favorable governmental industrial expansion policies, and the expanding residential construction industry, especially in countries such as Japan and China are some of the significant factors anticipated to drive the growth of the synthetic graphite market in the APAC region during the forecast period.

Europe Market Forecast

The European synthetic graphite market, amongst the market in all the other regions, is projected to hold the second largest share of about 25% during the forecast period. The growth of the market can be attributed majorly to the radically increasing demand for batteries, coupled with the significant expansion in the automotive sector in the region. Moreover, surging demand for synthetic graphite in various industries such as the nuclear industry, metallurgy, chemical industry, and so on is another significant factor that is projected to accelerate the market growth during the forecast period in the region.

Latin America Forecasts

Further, the market in the Latin American region, amongst the market in all the other regions, is projected to hold a considerable share of about 15% by the end of 2037. The growth of the market can be attributed majorly to the rising industrial development, coupled with the improvement in the economic condition in the region. Moreover, notable expansion in mining and foundry industries is also projected to spur the growth of the synthetic graphite market in the region over the forecast period.