Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) -- The "Carbon and Graphite - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Carbon and Graphite Market to Reach US$21.5 Billion by the Year 2026
Carbon and graphite finds use in a wide range of applications owing to their excellent thermal and electrical properties as well as extraordinary chemical stability. Carbon and graphite products are also used for improving product performance. Graphite has been identified as a critical and strategic mineral by several governments across the world, including Europe and the US, owing to the fact that graphite finds use in a number of energy-related applications, including fuel cells, EVs, Pebble bed nuclear reactors, solar panels, as well as electronic products like laptops and smartphones. Graphite is also considered to be an ideal material for promoting green technology. It is this attribute that is driving its use in a number of applications in areas such as energy storage, electronic products and photovoltaics.
Of all the types of carbon and graphite products, carbon fiber is currently the most sought after material for aviation, wind power, automotive and sporting and leisure goods production due largely to its low weight and high strength properties. Carbon and graphite market prospects are closely tied to the dynamics of major end-use industries, such as steel, transportation, electronics, semiconductor, electronics, solar, and petrochemical, among others. Steel and aluminum production, representing the largest end-markets for graphite electrodes, constitutes a major determinant of demand for electrodes.
The past few years have seen graphite demand growth reflecting the trends in the steel industry, with graphite finding use in the form of crucibles or liners for ladles, and as components in firebricks lining furnaces. With steel production having seen continuous increases over the past decade years, the demand for graphite has also witnessed an uptrend.
Amid the COVID-19 crisis, the global market for Carbon and Graphite estimated at US$15.3 Billion in the year 2020, is projected to reach a revised size of US$21.5 Billion by 2026, growing at a CAGR of 5.9% over the analysis period. Carbon & Graphite Electrodes, one of the segments analyzed in the report, is projected to grow at a 5% CAGR to reach US$10 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Carbon & Graphite Fibers segment is readjusted to a revised 8.5% CAGR for the next 7-year period. This segment currently accounts for a 17.1% share of the global Carbon and Graphite market.
Carbon electrodes find application in the manufacture of silicon metal, elemental phosphorous and ferro-nickel. Increase in production of electro steel has resulted in an increase in demand for graphite electrodes. Carbon fiber reinforced materials find diverse applications including usage in aircrafts, bodies of racing cars, parts of space crafts, bicycle frames and in such other areas where the characteristics of high strength and light weight are required.
The U.S. Market is Estimated at $1.8 Billion in 2021, While China is Forecast to Reach $8.1 Billion by 2026
The Carbon and Graphite market in the U.S. is estimated at US$1.8 Billion in the year 2021. The country currently accounts for a 11.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$8.1 Billion in the year 2026 trailing a CAGR of 6.7% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5% CAGR while Rest of European market (as defined in the study) will reach US$685.3 Million by the end of the analysis period.
Asia-Pacific has been and will continue to be the largest graphite producer worldwide and is also a major market for almost all kinds of carbon and graphite products. Growth in the region is being driven by steady economic growth and sustained demand emerging from expanding aerospace and automotive sectors, along with the emergence of advanced applications of graphite in fuel cells, pebble-bed nuclear reactors, and solar power systems. Steady growth in demand for steel and other metals is also contributing to the enhanced demand for graphite electrode in Asia-Pacific.
In North America, rising sales of electric vehicles and electronic devices such as tablets, mobiles and laptops are expected to translate into considerable opportunities for the Li-ion batteries market, and thus aid demand growth for graphite.
Carbon & Graphite Powders Segment to Reach $1.7 Billion by 2026
Carbon powder has several scientific and industrial uses and is therefore considered very versatile. Carbon powders generally find applications in metallurgy in the manufacture of steel and for hardening iron and steel. Graphite powder is a fine black powder with a very good lubrication property which is the required attribute for varied applications. Graphite powder also finds applications as a dry lubricant when in its natural form and also as a lubricative additive in colloidal solutions, oils and greases.
In the global Carbon & Graphite Powders segment, USA, Canada, Japan, China and Europe will drive the 2.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$278 Million by the year 2026, while Latin America will expand at a 3.1% CAGR through the analysis period.
Select Competitors (Total 130 Featured)
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- Sichuan Push Acetati Co. Ltd.
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Carbon & Graphite: Materials of Functional & Engineering Value in the Modern World
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- Everything You Ever Wanted to Know About Carbon & Graphite
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Strong Demand for Activated Carbon (AC) in Water/Air Purification & Automotive Industry Bodes Well for Market Growth
- Deteriorating Quality of Water Throws Emphasis on Water Treatment with Activated Carbon
- Worsening Indoor & Outdoor Air Quality Throws Focus on Activated Carbon for Air Purification
- Stringent Emission Norms Drives Activated Carbon Demand in the Automobile Sector
- New Opportunities Emerge for Activated Carbon in Fighting the COVID-19 Pandemic
- Healthy Outlook for Steel Manufacturing Brings Cheer to Graphite Electrodes Manufacturers
- Rise of Carbon Nanotube as a Marvel of Material Science & Engineering Adds Significantly to the Market's Overall Growth Momentum
- Unwavering Focus on Automotive/Aircraft Lightweighting Spurs Demand for Carbon & Graphite
- High Strength & Low Weight Benefits Drive Demand for Carbon Fibers & Recycled Carbon Fibers in Myriad Applications
- Graphite/Graphene Make New Headway in Wearable & Printed Electronics
- EVs Breathe New Life into Graphene/Graphite Demand
- Robust Outlook for Renewable Energy Post Pandemic to Drive Demand for Carbon & Graphite in Solar Panels & Wind Turbines
- Renewables Outlook
- What Does it Mean for Graphite?
- Refractories: A Major End-Use Market for Natural Graphite
- Promising Growth from Expanding Energy Storage Applications
- Graphite Lubrication Rises in Popularity
- Carbon Footprint of Graphite & Carbon Production, Use & Disposal Causes Concerns
- Sustainable Solutions & Practices Emerge into the Forefront Amid Rising Concerns
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 130
For more information about this report visit https://www.researchandmarkets.com/r/qyq9nn
