Prismane Consulting Unveils Global Graphite Market Report, Predicts Market to Exceed $20 Billion by 2032
PUNE, India, May 30, 2024 /PRNewswire/ — Prismane Consulting has just released its latest report, “Global Graphite Market 2024,” offering a comprehensive analysis of the graphite landscape. The report explores the supply-demand dynamics and consumption patterns of graphite, providing insights into key countries and their respective demands across various applications.
The report covers various types and applications of graphite, including natural and synthetic graphite used in electrodes, refractories, batteries, lubricants, and more. It offers market data segmented by type and application at both the country and regional levels, providing a detailed overview of the worldwide graphite market.
Graphite, a non-metallic mineral with properties similar to metals, plays a crucial role in various industries due to its excellent thermal and electrical conductivity. The report highlights the increasing demand for graphite driven by the expanding electric vehicle market, with each EV requiring around 65-70 kg of graphite.
China currently dominates the global graphite market, holding the largest processing capacity for both natural and synthetic graphite. Despite global ambitions for net-zero carbon emissions, many developed economies still rely on China for critical minerals like graphite.
However, to secure a reliable graphite supply, Europe and the United States have designated graphite as a critical mineral and are investing in new processing facilities outside of China. Companies like SGL Carbon, HEG, POSCO Chemical, and BTR are expanding their graphite production capacities to meet the growing demand.
The report projects a significant growth in the synthetic graphite market, particularly in electrodes and battery applications. Europe and the United States are aiming to diversify the supply chain and reduce their dependency on China for critical minerals like graphite.
With the global graphite market poised to exceed $20 billion by 2032, the report offers invaluable insights for businesses looking to capitalize on the growing demand for graphite in various industries. It provides a detailed analysis of market trends, opportunities, challenges, and future growth prospects, making it a must-read for industry stakeholders.
For more information, interested parties can request a free sample copy of the report via the provided link. To purchase the full report, visit the Prismane Consulting website.
