The global graphite market was valued nearly at $1.2 billion in 2018. Asia-Pacific is the largest market for graphite market, accounting for around 70% of the global market. The USA is the largest country in terms of value in the graphite market.
The graphite mining market consists of sales of natural graphite and its compounds by entities (organizations, sole traders and partnerships) that mine graphite and its compounds which are used in refractory materials, the chemical industries, nuclear industries, electrical applications, and mechanical applications.
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Graphite Market Size
The global graphite mining market is expected to grow to $1.4 billion in 2022 at a growth rate of around 2%. Growth in the historic period resulted from rise in smartphone sales, and high demand for automobiles. Going forward, growing demand for electric vehicles, opening of new mines, and rise in the commercial applications of graphene will drive growth. Factors that negatively affected growth in the historic period were environmental regulations, mining accidents, skills shortage, and oversupply in the Chinese steel sector. Factors that could hinder the growth of this market in the future are reduction in free trade, and innovation in lubrication technology.
Mining companies are using autonomous mining vehicles and mobile equipment management systems with capabilities for fleet tracking, proximity detection, and remote machine operation to enhance productivity. Autonomous machines have better fuel efficiency, productivity, vehicle durability, and overall machine performance than manually operated machines.
The global market for graphite is highly fragmented. Major players in the market include Kibaran Resource, Triton Minerals Ltd., Syrah Resources Limited, Tirupati Carbons & Chemicals Private Limited, and Focus Graphite Inc.
Kibaran Resource was the largest competitor in the graphite mining market in 2017. It is involved in exploration and production of graphite and nickel through its subsidiaries in Australia and Tanzania. The company was established in 2005 and is headquartered in West Perth, Australia.
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The graphite market is segmented by type of product
By Type of Product- The graphite market is segmented by type of product into Flake Graphite, and Non-Flake Graphite. Flake Graphite accounted for the largest share of the graphite market in 2018 at around 86%. The non-flake graphite market is expected to be the fastest-growing segment.
By Geography- The graphite market is segmented into Asia Pacific, Western Europe,Eastern Europe,North America, South America,Middle East And Africa. Among these regions, Asia-Pacific is the largest market for graphite market, accounting for around 70% of the global market. It was followed by Western Europe, North America and then the other regions. Going forward, Eastern Europe, and Africa will be the fastest growing regions in this market. This is followed by Asia-Pacific, and North America.
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