The global graphite market is estimated to grow at a CAGR over the forecast period. Increasing demand of graphite in batteries such as lithium ion and aluminum ion batteries is expected to drive the graphite market growth. Graphite is a form of carbon and is considered to be a key material in green technology and hence is expected to be widely used in photovoltaics, energy storage and electronic products.

Rising demand for electronic devices including tablets, laptops, mobile, and camera offers high potential of lithium ion battery industry. These batteries are used in the devices to charge the ions and to ensure proper functioning of the devices. This in turn is further expected to boost the graphite market. Technological advancements in developed countries is expected to rise the electronic market growth.

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In Automotive industry carbon fibers are anticipated to be widely used instead of steel owing to the properties that carbon exhibits. Carbon fibers are lightest, strongest & stiffest and has better shock absorption. The main advantage of this fiber over steel and aluminum is that it does not rust and cause erosion. These factors drive the graphite market growth over the forecast period in automotive and aerospace industry. It is used in clutch materials, fire retardants, lubricants and brakes. Lithium ion batteries consists of around 80% graphite. For instance, an automotive company Tesla motors is expected to invest USD 5 billion in a new lithium ion battery factory on account of which demand for graphite over the forecast period is anticipated to increase. Advancements in steelmaking, metallurgy and manufacturing goods industry along with industrial applications are identified as major trends in the global graphite market.

Government initiatives to increase awareness among end users including industry players and consumers to go green by adopting environmental friendly materials in manufacturing processes is anticipated to increase the demand for graphite market. According to China's government plans 5.0 million battery-electric vehicles are expected to ply on roads in the future. This factor attributes to increase in demand for graphite market. Traditional demand for graphite is largely linked to the steel industry where it is used as a liner for ladles and crucibles, as a component in bricks which line furnaces (“refractories”), and as an agent to increase the carbon content of steel. Natural graphite is used to lubricate the dies and extrude hot steel. Increasing demand of steel on account of industrialization in developing economies including china, India and other countries is expected to drive the flake graphite market expansion.

The major challenges for market players in this industry is the increasing supply-demand gap. The rising demand of graphite in steel, energy, automotive and manufacturing industries may create a gap between the demand and supply balance in the foreseeable future. Depleting graphite reserves around the world are expected to impact the market growth. Due to the Illegal exploitation, extensive operations and poor management, graphite mining and processing in particular has caused considerable environmental damage in countries such as China.

Based on graphite form the global graphite market is segmented into natural graphite and synthetic graphite. The synthetic market is further segmented into graphite electrode, graphite blocks, powder and carbon fiber. Graphite electrode segment accounted for the largest market owing to rising demand for steel various other metals that constitute graphite. Carbon fiber is expected to have the fastest growth over the forecast period which are extensively used in automotive industries.

Based on end use segment the graphite market is globally divided into Refractory, foundry, electrode, battery, and lubricant. Electrode segment is expected to have the largest market share followed by batteries. Increase in demand of high end sophisticated devices among the consumers is anticipated to drive the battery segment. Asia pacific graphite market has the largest market globally. Rising advanced applications in pebble-bed nuclear reactors, solar systems, fuel cells, and aerospace industries is expected to drive the market in this region. China is the largest graphite producer in the world in response to rapid development of industrialization accounting for 70% share of total graphite production globally followed by India. Europe is estimated to witness the fastest growth rate over the forecast period owing to increase in use of lithium ion based batteries in smartphones, tablets and other electronic devices.

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Major players in the market include Lamboo resources limited, Alabama graphite corp, graftech international holidngs, and triton minerals limited. Other industry participants are Syrah Resources Limited, Asbury Graphite Mills, Showa Denko K.K, Tokai Carbon Co., Ltd, and Northern Graphite Corporation. Triton minerals one of the leading company mainly focusses on flake graphite exploration and development of graphite projects. In china International trade and pricing is expected to rise on account of increasing domestic production including environmental, labor and overhead costs. Alternative sources of graphite are expected to increase owing to decrease in availability of graphite in depletion of graphite reserves.

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