LONDON--(BUSINESS WIRE)--The global graphite market is projected to accelerate at a CAGR of approximately 6% during the period 2018-2022, according to the latest market research report by Technavio. A key factor driving the market’s growth is the growing demand for lithium-ion batteries. Graphite is extensively used as an anode material in lithium-ion batteries. The increasing demand for lithium-ion batteries from EV manufacturers is fueling the demand for graphite at a steady rate. Graphite is a commercial anode material widely used for lithium-ion batteries due to its high columbic efficiency and better cycle performance.
This market research report on the global graphite market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising capacity expansions to accelerate demand as one of the key emerging trends in the global graphite market:
Global graphite market: rising capacity expansions to accelerate demand
The global graphite market has been witnessing expansions in its production capacity in the last few years. The increasing use of graphite in the automotive, steel, and photovoltaic (PV) industries will create a huge demand during the forecast period. The rising consumption of graphite in different end-user industries is encouraging major manufacturers to expand their production capacities.
“A major vendor expanded its production capacity, which has led to the company gaining the potential of becoming the largest producer of graphite in the world. The production capacity of the company has increased to almost 350, 000 tons per year. Many new production facilities and expansions in the existing production facilities can be expected during the forecast period,” says a senior analyst at Technavio for research on metals and minerals.
Global graphite market - segmentation analysis by application and region
This market research report segments the global graphite market into the following products (natural graphite and synthetic graphite), applications (refractory, L and C, foundry, and batteries), and key regions (the Americas, APAC, and EMEA).
The refractory segment held the largest market share in 2017, accounting for more than 43% of the market. This application is expected to grow steadily throughout the forecast period.
APAC was the leading region for the global graphite market in 2017, accounting for a market share of around 63%. This region is anticipated to post significant growth during the period 2018-2022.
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