Published Date : Jun 09, 2016
The global market for graphite has registered exponential growth over the last decade. The increased utilization of graphite batteries has driven this market significantly in the recent past. The automotive industry has emerged as the leading consumer of graphite batteries, increasing the consumption of graphite extensively across the world. The growing application of graphite in lithium-ion batteries is also propelling this market remarkably.
Asia Pacific Leads Global Graphite Market
The worldwide graphite market is spread across North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. In 2013, Asia Pacific acquired the leading position, accounting for a share of 67.4% in the overall market. This regional market reported a CAGR of 3.80% during the period from 2010 from 2013 and attained a value of US$9.1 bn by the end of that period. On the other hand, the graphite markets in Europe and North America occupied the second and third positions in the global market with a share of 14.1% and 10.4%, respectively, in 2013.
Increasing Demand for Graphite in China and India to Drive Asia Pacific Graphite Market
In the coming years, Asia Pacific is projected to maintain its position in the global graphite market, expanding at a CAGR of 4.0% between 2014 and 2020. The increasing demand for graphite from Asian economies such as India and China is expected to boost the regional market. This market is also anticipated to experience a rapid rise in the demand for graphite from the Asia Pacific automobile industry over the next few years, driving the market’s growth.
The leading enterprises functional in the global market for graphite are GrafTech Int. Holdings Inc., Flinders Resources Ltd., Alabama Graphite Corp., Nippon Graphite Industries Co. Ltd., Showa Denko K.K., Tokai Carbon Co. Ltd., Mason Graphite Inc., Syrah Resources Ltd., SGL Carbon SE, Asbury Graphite Mills Inc., Graphite India Ltd., Lamboo Resources Ltd., Triton Minerals Ltd., Northern Graphite Corp., Focus Graphite Inc., and Energizer Resources Inc.