Fort Collins, Colorado, April 29, 2024 (GLOBE NEWSWIRE) --
Demand for sustainable energy solutions drives the graphite market.
Graphite, a critical component in various industries, including battery manufacturing, automotive, aerospace, and electronics, has witnessed significant growth in demand driven by the rapid adoption of electric vehicles (EVs) and renewable energy technologies. As the world transitions towards sustainable energy solutions, graphite plays a pivotal role in powering the next generation of lithium-ion batteries, essential for EVs and energy storage systems.
Graphite is crucial in lithium-ion batteries, which power electric vehicles (EVs), consumer electronics, and energy storage systems. The increasing adoption of EVs and renewable energy technologies drives demand for graphite. It is utilized in various industrial applications such as lubricants, refractories, foundry facings, and crucibles. Growth in steel, automotive, aerospace, and electronics industries impacts graphite demand.
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Segmentation Overview:
The graphite market has been segmented into product, application, and region.
Synthetic graphites are in high demand and continue to thrive in the forecast period.
- Based on type, the graphite market is segmented into natural and synthetic. Synthetic graphite will likely dominate in the forecast period owing to its demand in end-use industries. Also, their popularity in the automotive industry is expected to pivot in the coming years.
Batteries and lubricants are dominant applications.
- Based on application, the graphite market is segmented into foundries, friction products, batteries, and lubricants. Batteries and lubricants are anticipated to propel the segment share in the forthcoming years based on their need and popularity in several industries.
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Graphite Market Report Highlights:
- The graphite market growth is anticipated at a CAGR of 5.4% by 2032.
- The rise in demand for lithium-ion batteries drives the graphite market growth.
- North America is the largest graphite market and is projected to grow more in the coming years. Emerging economies, particularly in Asia-Pacific and Africa, present growth opportunities for the graphite market due to increasing industrialization, urbanization, and infrastructure development.
- Some prominent players in the graphite market report include AMG, Eagle Graphite, EPM Group, Asbury Carbons, Grafitbergbau Kaisersberg GmbH, Imerys, Graphite India Limited (GIL), Nacional de Grafite, SGL Carbon, and Triton Minerals Ltd.
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