The graphite mining market consists of products manufactured by use of graphite material and its compounds. The graphite and its compounds are used in refractory materials, chemical industries, nuclear industries, electrical applications, and mechanical applications etc. Graphite is a natural mineral which is formed when a certain amount of heat and pressure is applied. The graphite minerals are crystalline and allotropes of carbon. Graphite products are broadly used in the neural moderators, brake pads, steelmaking, lubricants, friction product, battery, cast iron and refractory. It is the most electrically and thermally conductive non-metallic and most efficient lubricant. Graphite is naturally chemically inert and has a high resistance to corrosion. In addition, graphite offers several advantages, such as higher operational reliability, high conductivity, higher strength and increased lubrication.
As per analysis, “Graphite Mining Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global graphite mining market include Triton Minerals Ltd, Mason Graphite, Graphite India Limited, GrafTech International Holdings Inc., SGL Carbon SE and among others. The key players have adopted strategies such as deploying of underground-drones, investing in new and autonomous technologies. Graphite demand is largely driven by high demand for Lithium-ion batteries due to growth in adoption and use of electric vehicles globally. Moreover, considerable amount of the steel production through electric arc furnace that includes graphite electrode fuels is expected to create demand for graphite market over the forecast period.
Based on type, graphite mining market is segmented as flake graphite and non-flake graphite. Based on flake size, market is segmented as small, medium, large and jumbo. Based on product type, market is segmented as synthetic graphite and natural graphite. Additionally, natural graphite is generally used in foundry operations, lubricants, brake linings, refractory applications and steelmaking. In addition, based on application, market is segmented as foundry, refractories, lubricants/crucible, pencils, batteries and others. The refractories segment is projected to witness higher growth rate as a result of rapid industrial development and rise in demand for graphite from various industries, such as aerospace, automotive, construction and metal production during the forecast period.
Rise in demand for lithium-ion batteries & fuel cells, followed by high purity levels of synthetic graphite, increase in use of graphite in the wind energy industry and surge in use of graphite for manufacturing of the structural composite parts used in aircraft are some major factors, which are responsible for growth of the graphite mining market. However, insufficient production capacity and stringent environmental regulations may impact the market. Moreover, growth in usage of graphite in green technologies is a leading opportunity for market.
By regional analysis, the Asia-Pacific is a leading region in global graphite mining market owing to rise in use of graphite in manufacturing of structural composite parts utilized in the aircrafts coupled with growth in adoption of graphite in refractories owing to its high thermal property across the region. The North-America and Europe regions are anticipated to exhibit higher growth rate due to presence of key players and huge consumer base over the forecast period.
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Ankur Gupta, Head Marketing & Communications