Global Graphite Market is estimated to reach US$17.5 bn by 2020
Persistence Market Research has published a research report, titled “Global Market Study on Graphite: Battery Segment to Witness Highest Growth by 2020”. This comprehensive research report gives a 360-degrree view of the market dynamics and trends in the global graphite market. Along with presenting key insights, the report offers a SWOT analysis and a Porter’s five forces analysis of the overall market. According to the research report, the global graphite market was valued at US$13.6 bn in 2013 and is estimated to reach US$17.5 bn by 2020, growing at a CAGR of 3.70% from 2014 to 2020.
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The global market for graphite is experiencing acceleration due to growing usage of graphite in the battery and automotive industry. Graphite is mainly used for making clutch materials, gaskets, exhaust systems, motors, and cylinder heads. Graphite has slowly replaced asbestos, which was used for linings in vehicles and for disk brake pads. The biggest advantage of graphite is that it creates less noise while braking. Furthermore, graphite is also an important material used in the production of extremely lightweight carbon-fiber reinforced plastic (CFRP), which is mainly used by the aerospace industry and makers of Formula One cars. In recent times, graphite has also been in great demand in the passenger car industry as it reduces the weight of the vehicle, thereby resulting in less fuel consumption and CO2 emissions.
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The global graphite market is segmented on the basis of form, end use, and region. The forms of graphite available in the market are natural graphite and synthetic graphite. The synthetic graphite segment is sub-segmented into carbon fiber, graphite electrode, graphite blocks, graphite powder, and others. Graphite is generally used in refractories, lubricants, electrodes, foundries, batteries, and others. Regionally, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
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