Global Carbon Graphite Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “Global Carbon Graphite Market,” the global carbon graphite market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Graphite is an allotrope of the versatile element carbon. It can be naturally derived through mines as well as extracted by the processing of hydrocarbons, such as petroleum, coke and coal tar. Carbon graphite is a significant substance, which can endure temperatures up-to high 5,000F.There are two available forms of graphite, natural and synthetic graphite. Carbon graphite is favorably ordered with carbon atoms organized in six unit cells which are bonded to adjacent cells that combined form planes. It has a distinguished molecular structure owing to this, it possess the properties such as high temperature resistance, high thermal conductivity, and anti-corrosive. It is highly desirable in many end-use industries. It is dominantly used in refractories, automotive applications, many more as a lubricant applied in gaskets and seals and brake linings.
Increasing usage of carbon graphite in metallurgy activities and rise in the industrial sector are the major factors that has driven the market growth. However, the market growth is restricted, owing to its contradictory impact of carbon graphite on humans and animals. In addition, rigid government norms and regulations in the metallurgy industry restrains the growth of global carbon graphite market.
The application of graphite in electric vehicles, nuclear energy and fuel cells might drive market growth. The unearthing or mining companies are channelizing constant efforts towards the exploration and advancement of potential and dormant graphite mines in some parts of the world, especially in Africa.
The global carbon graphite market is bifurcated on the basis of product type which includes natural graphite and synthetic graphite. Natural graphite is segmented as amorphous graphite, flake graphite, and vein graphite. Synthetic graphite is further segmented as carbon fiber, graphite block, graphite electrode, graphite powder and others. Furthermore, it is classified on its application as refractories, lubricants and crucible, foundry facing, batteries and others.
The global carbon graphite market is divided on regional basis into North America, Europe, Asia-Pacific (APAC) and LAMEA. APAC has the dominant share followed by North America. North America commands significant share in market in USA followed by Canada and Mexico. Europe shares the same potential, including countries like Germany, France, and U.K.
APAC held the maximum share worldwide owing to the presence of various industrial sectors using graphite and steady growth for automotive aviation and aerospace industries. Increase in production of steel in Latin America and Middle East & Africa region is expected to drive the market growth in the region.
The major leading vendors in the global carbon graphite market are Cabot Corporation, Cytec, Solvay Group, Hexcel Corporation, Mersen S.A., HEG Ltd., Mitsubishi Rayon Co. Ltd., Nippon Carbon Co. Ltd., Toray Industries Inc., Tokai Carbon Co. Ltd.
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