Wellesley, Mass., Sept. 06, 2017 (GLOBE NEWSWIRE) --
The electric vehicle and energy storage markets are undergoing huge shifts that are reorienting the graphite industry, particularly in the natural graphite market, says a new BCC Research report. BCC Research estimates electrical applications to achieve the highest CAGR (24.7%) among all application segments of the global graphite market, from 2016-2021. This torrid growth is catalyzed by the lithium-ion battery segment, which is projected to grow at a 31.0% CAGR to reach a value of $1.7 billion in 2021, up from $369 million in 2015. Overall, the global market for graphite is expected to grow at a 7.7% CAGR.
Graphite: Technologies and Global Markets reports that electrical conductivity properties are ushering in a large new market for graphite in the field of energy storage applications. Green energies such as wind and solar markets are stoking big demand for energy storage requirements, in terms of batteries. Additionally, cell phones and other electronic equipment require power and energy storage devices. Among all battery technologies, lithium-ion battery technology excels for its ability to store large quantities of power in limited space while quickly powering devices and equipment. These batteries use a large quantity of graphite, often between 30 grams and 40 grams of graphite for each gram of lithium used.
Research Highlights
- The technical segment of the market is projected to grow above global GDP rates to reach $3.4 billion in 2021, for a 10.7% CAGR.
- Australian and Canadian companies should grow the fastest among global players as they meet the natural graphite demand of the lithium battery segment.
- Refractory and metallurgical, the largest segment, is expected to grow at a 5.5% CAGR to reach $9.4 billion by 2021.
“Regulatory proposals are profoundly affecting the graphite market because of their impact on the battery markets,” says BCC Research analyst Vijay Subramanian, who authored the report. “For example, Europe has mandated reduction of carbon dioxide emissions per vehicle to less than 75 grams per kilometer by 2025. This can only be achieved by significantly reducing internal combustion engines and adding more electric vehicles to the market. Also, Germany is considering banning all sales of internal combustion engine-driven vehicles by 2030.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.