Synthetic Graphite Market Analysis| 2023-2028

Market Insights

"The global synthetic graphite market is expected to grow from USD 3.23 billion in 2022 to USD 4.16 billion by 2028 at a healthy CAGR of 4.3% during the forecast period of 2023-2028."

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What is synthetic graphite?

Synthetic graphite, also called artificial graphite, is a man-made substance manufactured by the high-temperature treatment (2,500 to 3,000 degrees Celsius) of amorphous carbon materials. It is manufactured by the calcination and subsequent graphitization of petroleum coke and can achieve a purity of 99.9% carbon.

The types of amorphous carbon used as precursors to graphite are many and can be derived from petroleum, coal, or natural and synthetic organic materials. Synthetic graphite holds the major share in the pie of the global graphite market.

Carbon fiber and synthetic blocks are expected to experience the fastest growth in the next five years driven by increasing penetration of carbon composites in aerospace and automotive industries and double-digit growth of lithium-ion batteries in electric vehicles.

Segment Analysis

Form Insights

"The graphite electrode segment accounted for the largest market share."

Synthetic graphite has four principal types; electrode, block, powder, and fiber. The largest type of the synthetic graphite is graphite electrode which is predominately used in electric arc furnaces for melting steel & iron and producing alloys.

Synthetic graphite blocks are also man-made products and are made using petroleum coke. Blocks are produced from isostatic, extruded, die molded, and vibration molded processes. All these processes offer distinctive benefits and are used for producing graphite for different applications. Synthetic blocks are used in the large variety of applications ranging from polysilicon production for photovoltaic industry to high temperature reactors in nuclear industry.

Synthetic graphite powder is a low-cost material because it’s a by-product. It is used in applications, such as brake linings, lubricants and carbon brush. Synthetic graphite powder is generally a result of the granular graphite or graphite dust gathered during machining electrodes and blocks.

Carbon fiber is considered an advanced fiber type and is used in many industries including aerospace and defense and the automotive industry. High specific strength, lightweight, good fatigue strength, and excellent corrosion resistance make it a preferred material in high performance applications. High focus on fuel efficiency, low carbon emission, weight reduction, comfort and passenger safety, and government regulations, such as CAFÉ standards are driving the increasing penetration of carbon composite structures in aerospace & defense, automotive, and wind energy segments. Carbon fiber is likely to experience double digit growth in the next five years. Carbon fiber market players are continuously working on the development of alternative precursors and efficient manufacturing processes with the aim to reduce the carbon fiber price. The target price of carbon fiber is about $5 per pound for usage in mass-production applications.

Application Insights

"Graphite electrodes segment accounted for the largest market share."

Graphite electrodes are the largest application of synthetic graphite and is expected to remain the largest application in the next five years. The Asia-Pacific region is the major consumer of graphite electrodes driven by rising demand for steel and other metals, mainly in China and India.

Battery is currently a hot topic in the graphite market. Battery is an application where both natural and synthetic graphite are used and truly compete with each other. There will be a continuous shift in the graphite market away from amorphous natural graphite towards flake and synthetic graphite as emerging applications like batteries typically require large flake and high-purity grades.

Graphite electrode is expected to remain the largest application of synthetic graphite in the next five years. Increasing use of electric arc furnaces for producing steel across the world is expected to drive sales of graphite electrodes.

Regional Trends

"Asia Pacific accounted for the largest market share."

North America and Europe are major consumers as well as producers due to their robust industries like automotive, aerospace, and energy storage industries. The Asia Pacific, specifically China, is the largest and is expected to grow the fastest due to the use of steel and the increased deployment of electric cars. Latin America and the Middle East & Africa are nascent markets with signs of growing industrialization and infrastructural advancement, which will drive demand.

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Key Players

The key synthetic graphite manufacturers globally are:

• SGL Carbon SE
• GrafTech International Holdings Inc
• Mersen Group
• Nippon Graphite Industries
• Tokai Carbon Co.
• Toray Industries
• Toho Tenax
• Toyo Tanso
• Mitsubishi Rayon Co.
• Baofeng Five-star Graphite
• IBIDEN CO
• Showa Denko K.K.
• Graphite India.

New product development, collaboration with customers, and long term contacts are the key strategies adopted by the key players to gain competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

The synthetic graphite market is segmented in the following ways:

By Form Type:

• Synthetic Electrode
• Synthetic Block
• Synthetic Carbon Fiber
• Synthetic Powder

By Product Type:

• Primary Product
• Secondary Products

By Application Type:

• Electrode
• Cathode & Furnace
• High Temperature Applications
• Electrical Discharge Machining
• Polysilicon Production
• Lubricants
• Foundry
• Frictional Products
• Parts & Components
• Others

By End-Use Industry Type:

• Metal Industry
• Aerospace & Defense
• Automotive
• Photovoltaic Industry
• Electrical & Electronic
• Industrial
• Others

By Manufacturing Process Type:

• Isostatic
• Molded
• Expanded
• Extruded

By Sales Channel Type:

• Direct Sales
• Distributors

By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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