Global High Purity Graphite Market - WishTree Insight

Global High Purity Graphite Market by Type (99.9-99.95%, Above 99.95%), Application (Photovoltaic Industry, Electric Motor Brushes, High-Temperature Furnaces, Metal Industry), and Regions, The Asia Pacific, Middle East Africa, Europe, North Am erica, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The High Purity Graphite market size was valued at USD 3.2 billion in 2021 and is expected to surpass USD 4.76 billion by 2031, expanding at a CAGR of 5.8 % during the forecast period, 2021–2031. The market's growth is attributed to the increasing adoption of electric vehicles and growing demand for photovoltaic industry products.

INTRODUCTION

Graphite is a natural form of carbon with high purity. It consists of sufficient high-purity chemical grades. Its physical properties make it ideal to use for different applications. Graphite is used for applications such as semiconductor & LED industries, and electric motor brushes as it has low current conductivity compared with other materials. It is found in metal industry applications where heating processes are required. Graphite is considered for the technological advancements in battery production to cater to the rising demand for electric vehicles and green energy. Synthetic graphite and natural graphite are two types of graphite. Natural graphite is a cost-effective version of graphite and synthetic graphite have high-cost and requires high temperature, and production is not eco-friendly. High-purity graphite is used in applications such as lithium-ion batteries for electric vehicles and energy storage in consumer electronics.

Market Trends, Drivers, Restraints, and Opportunities

• The growth of electric vehicles, LED industries, and semiconductors are expected to drive the market.
• Properties of graphite-like lubricity, good thermal & electrical conductivity, and chemical resistance is propelling the market growth.
• Rising use of electrical motors in automobiles is expected to propel the market.
• Rising popularity of electric vehicles and technological advancements in the design of electric vehicles are expected to propel market growth.
• Increasing awareness regarding environmental concerns and rising awareness among people regarding surging pollution levels are crucial factors expected to foster the sale of electric and hybrid electric vehicles across the world.
• High prices of high-purity graphite are expected to hamper the market.

Scope of the Report

Market Segment Insights

Based on type, the high purity graphite market is divided into 99.9-99.95%, above 99.95%.

Based on application, the high-purity graphite market is divided into the photovoltaic industry, electric motor brushes, high-temperature furnaces, and the metal industry.

Asia Pacific is anticipated to constitute a key market share of 71%

In terms of regions, the high-purity graphite market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of China in the Asia Pacific region constitutes a key share of the market and is expected to continue during the projected period. The growth in the region is attributed to the huge demand from rapidly growing industries including electronics, steel manufacturing, solar industry nuclear industry, and lithium-ion battery. However, the market of the North American region is anticipated to expand at a rapid pace during the forecast period owing to the increasing production of electric vehicles in the region. Furthermore, rapid development in the construction and infrastructure sector has also spurred the market for graphite.

Competitive Landscape

Key players competing in the High Purity Graphite market are Toyo Tanso Co., Ltd. (Japan); Graphite India Ltd (India); Nippon Carbon Co., Ltd (Japan); HEG Limited (India); Fangda Carbon New Material Co., Ltd (China); Showa Denko K.K (Japan).

FAQs

How much is the market worth?

The High Purity Graphite market size was valued at USD 3.2 billion in 2021 and is expected to surpass USD 4.76 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 5.8%.

What are the key drivers of the market?

The market's growth is attributed to the increasing adoption of electric vehicles and growing demand for photovoltaic industry products.

What segments are covered in the High Purity Graphite report?

The segments covered in the report are type (99.9-99.95%, above 99.95%), application (photovoltaic industry, electric motor brushes, high-temperature furnaces, metal industry).

Mention the key players in the market.

Toyo Tanso Co., Ltd. (Japan); Graphite India Ltd (India); Nippon carbon Co., Ltd (Japan); HEG Limited (India); Fangda Carbon New Material Co., Ltd (China); Showa Denko K.K (Japan)