Accordingto a new report published by Transparency Market Research (TMR) titled‘Synthetic Graphite Market - Global Industry Analysis, Size, Share, Growth,Trends, and Forecast, 2018–2026,’ the global syntheticgraphite market was valued at around US$ 4 Bn in 2017 andis anticipated to expand at a CAGR of more than 5% during the forecast period.Expansion in the global synthetic graphite market is driven by factors such asincrease in demand for synthetic graphite in the metallurgy, electronics, andstorage & energy transmission end-use industries. Synthetic graphite isused to manufacture graphite electrodes that are used in electric arc furnacesin order to manufacture metal products. Synthetic graphite can withstand hightemperatures. It exhibits superior thermal expansion and thermal shockresistance, which makes it a favorable material for high-temperatureapplications. The synthetic graphite market in Asia Pacific is expanding at asignificant pace due to an increase in demand for synthetic graphite inlithium-ion batteries in the region.
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Risein Demand for Synthetic Graphite in the Metallurgy Application to DriveSynthetic Graphite Market
Syntheticgraphite possesses favorable electrical properties, high mechanical strength athigh temperatures, high electrical and heat conductivity, low impurity content,chemical stability, and high vibrational resistance. It can withstandtemperatures of up to 1,800 °C in electric arc furnaces. It exhibits superiorthermal expansion and thermal shock resistance, which help in reducing theentire mass of steel. The EAF method of production of synthetic graphite hasgained popularity among steel producers due to its flexibility, quickturnaround time, and lower fixed costs. In addition, regulations are being laiddown by China’s Ministry of Industry and Information Technology to encouragecapacity expansions for electric arc furnaces. Steel products are widely usedin the construction, automotive, infrastructure, aerospace & defense, andoil & gas industries. An increase in demand for metallurgy products fromend-use industries is projected to boost the utilization rate of syntheticgraphite.
Rise in the Usage of Lithium-ionBatteries to Create New Opportunities for the Synthetic Graphite Market
Lithium-ionbatteries are rechargeable batteries that are gaining popularity in electricvehicles, consumer electronics, aerospace applications, etc. Rise in theproduction of electric vehicles across all regions has boosted demand forlithium-ion batteries. The total demand for lithium-ion batteries is estimatedto rise from about 60,000 MwH in 2015 to approximately 160,000 to 190,000 MwHin 2025. Synthetic graphite has been identified as a critical raw materialworldwide for the battery industry due to the rise in use of lithium-ionbatteries. There is 11 times more graphite than lithium in a typicallithium-ion battery. The current choice for battery makers is syntheticgraphite due to its consistency, security of supply, and purity in syntheticmaterial. For instance, Japan, China, and the U.S. are major producers ofbattery-grade synthetic graphite. Synthetic graphite accounts for 34% of theanode market. Therefore, high demand for synthetic graphite is likely topresent significant opportunities in lithium-ion battery production, owing to arise in the usage of electric vehicles across all regions.
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Graphite Electrodes to Dominate theSynthetic Graphite Market
In terms ofproduct, the global synthetic graphite market has been divided into graphiteelectrodes, isostatic graphite, specialty graphite, carbon fibers, and others.The graphite electrode segment is anticipated to dominate the market due to theextensive use of graphite electrodes in electric arc furnaces to manufacturemetal products. The carbon fiber segment is anticipated to expand at asignificant pace from 2018 to 2026.
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Rise in Use of Synthetic Graphitein Developing Economies to Create Opportunities
In terms ofregion, the global synthetic graphite market has been categorized into AsiaPacific, Europe, North America, Middle East & Africa, and Latin America.Rapid urbanization in emerging countries such as China, India, and Mexico anincrease in spending power of the citizens in these countries are boosting thedemand for electronic products. This, in turn, is estimated to drive growth ofthe synthetic graphite market during the forecast period.
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Few Key Players Operate in theSemi-consolidated Synthetic Graphite Market
Key playerscovered in this report include GrafTech International, Showa Denko K.K., SGLGroup, Graphite India Limited, HEG Limited, Tokai Carbon Co., Ltd., NipponCarbon Co., Ltd., SEC Carbon, Ltd., Kaifeng Carbon Co., Ltd., and NantongYangzi Carbon Co., Ltd. GrafTech International, Showa Denko K.K, and TokaiCarbon Co., Ltd.. These companies operate across the globe. This helps themestablish control over the complete value chain and sustain their leadingposition in the market.
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