Portland, OR, April 29, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global graphite market generated $14.3 billion in 2019, and is estimated to garner $21.6 billion by 2027, witnessing a CAGR of 5.3% from 2020 to 2027. The report provides a detailed analysis of value chain, key investment pockets, changing market trends, key segments, business performance, and competitive landscape.
Increase in demand for lithium-ion batteries and considerable manufacturing of steel through electric arc furnaces (EAF) propel the growth of the global graphite market. However, rise in export duty charges of graphite in China and reduced cost of natural graphite hinder the market growth. On the other hand, increase in mergers & acquisitions along with implementation of green technologies create new opportunities in the next few years.
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Based on type, the synthetic graphite segment accounted for nearly 90% of the total share of the global graphite market in 2019, and is estimated to witness its lion’s share in terms of revenue throughout the forecast period. However, the natural graphite segment is expected to portray the largest CAGR of 7.1% from 2020 to 2027.
Based on application, the refractories segment accounted for the largest market share with more than one-third of the total share in 2019, and is estimated to maintain its lead position throughout the forecast period. However, the battery production segment is expected to register the fastest CAGR of 5.8% from 2020 to 2027. The report also analyzes the segments including lubrication, foundry, and others.
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Based on region, Asia-Pacific accounted for the highest share in terms of revenue, holding nearly half of the total share in 2019, and is estimated to maintain its dominant share during the forecast period. Moreover, this region is expected to grow at the largest CAGR of 5.6% from 2020 to 2027. On the other hand, North America would witness the second-highest CAGR of 5.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Key market players analyzed in the research include Triton Minerals Limited, Graf tech International Holding, Showa Denko K.K., Tokai Carbon Co., Ltd., Nippon Graphite Industries Co., Ltd., West water Resources, Inc., Focus Graphite, Inc., Northern Graphite Corporation, Next source Materials, Inc., and Mason Graphite, Inc. They have adopted various strategies including partnerships, mergers & acquisitions, collaborations, and others to gain a stronghold in the industry.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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