Flake Graphite Market is Anticipated to Witness High Growth Owing to Increasing Demand from Refractory Applications
Flake graphite has wide applications in lithium-ion batteries, brake linings, gaskets, lubricants and refractories owing to its high strength, chemical inertness and thermal stability. It is a mined minerals that occurs naturally as crystalline flake-shaped particles. The purity and thickness of the flake determine its end use. Large and thick flake graphite is used in applications requiring high purity such as electronics and batteries whereas thin flake graphite finds usage in refractories, friction products and other mass applications. The global flake graphite market is estimated to be valued at US$ 16.05 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the flake graphite market are AMG, Asbury Carbons, Eagle Graphite, EPM Group, Grafitbergbau Kaisersberg GmbH, Graphite India Limited (GIL), Imerys, and Nacional de Grafite.
The key opportunities in the flake graphite market include increasing demand from lithium-ion batteries sector with growing adoption of electric vehicles. Flake graphite is a critical anode material in lithium-ion batteries.
Major players in the market are focusing on capacity expansion plans and forward integration. For instance, Imerys is expanding its production capacity for flake graphite to cater to the growing demand from lithium-ion battery makers in Asia Pacific region. Graphite India Limited plans to set up a value-added products plant to cater to battery anode application.
Market Drivers
Increasing Demand from Refractory Applications:
Flake graphite acts as a binder in manufacturing of refractory bricks used for lining of furnaces in iron & steel plants. Rapid industrialization in emerging countries is driving demand for iron & steel which in turn boosts consumption of flake graphite in refractories.
Market Restraints
Availability of Substitute Materials:
Certain applications of flake graphite can be replaced by synthetic graphite and other materials offering competition. For example, synthetic graphite is used as anode material in batteries replacing natural flake graphite.
Segment Analysis
Graphite flakes of different flake sizes are used for different applications. Large and jumbo flake sizes are primarily consumed in battery and lubricants, while smaller flake sizes are used in refractories, friction products, and other industrial applications. The battery segment dominates the flake graphite market as batteries require consistent and robust flake structure for optimal performance. Large flake graphite suit the need for batteries as it provides consistency in structure and conductivity.
Regional Analysis
The Asia Pacific region leads the global flake graphite market in terms of consumption. China dominates the global production and consumption of natural flake graphite. The growth of lithium-ion batteries and expanding electric vehicle market in China and other Asia Pacific countries are driving the demand for flake graphite from the battery industry. Europe is the second largest market driven by presence of automotive and industrial sectors. Stringent environmental norms are shifting the focus towards clean energy solutions which is expected to boost the regional graphite consumption over the coming years.
Comments
Post a Comment