Graphite market is expected to reach over US$ 20.8 Bn by 2023: Credence ResearchPosted by Serena Peter on July 5th, 2017 According to a new market report published by Credence Research “Global Graphite Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023,” the Graphite market is expected to reach over US$ 20.8 Bn by 2023, expanding at a CAGR of 3.8% from 2016 to 2023. Market Insights Graphite is flexible and has both metallic and non-metallic properties making it suitable for diverse industrial applications. The non-metallic properties include chemical inertness, high thermal resistance and lubricity, whereas metallic properties include thermal and electrical conductivity. Due to developments in battery technologies related to the emerging electric vehicle and green energy markets; graphite has recently been the focus of numerous companies. Global graphite production has risen from 100,000 tpa in the early 1900s to estimated 1.2 mtpa in 2014 at a compound annual growth rate (CAGR) of just over 2%. According to United States Geological Survey (USGS) China is the world’s leading supplier of natural graphite (flake and amorphous) with approximately 67% of global production followed by India, Brazil, Canada and North Korea cumulatively accounting around 25% of the global graphite production. Browse the full Graphite Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/graphite-market Graphite is an important material used in gaskets, clutch materials, motors, exhaust systems and cylinder heads. Increasing the use of graphite in the automotive and battery industries is the major factor driving the demand for graphite. According to industry experts, refractories is expected to remain the key driver for graphite market coupled with increasing demand for batteries and foundry facing owing to rapid industrialization especially in Asian countries which is anticipated to fuel the growth of graphite market. In 2015, Asia pacific was observed as the largest and fastest growing market for Graphite. Global Graphite market revenue is expected to grow at rate of 3.8% over the forecast period 2016-2023. Growing demand from developing countries like India and China is expected to drive the growth of Graphite market over the forecast period. AMG Advanced Metallurgical Group N.V., Graphite India Limited, GrafTech International Limited, HEG Ltd, Toyo Tanso Co. Ltd., Tokai Carbon Co. Ltd., Showa Denko K.K., SGL Carbon SE., SEC Carbon Ltd. are few key manufacturers in graphite market. Key Trends:
Browse the full Graphite Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/graphite-market Latest Reports: About Us: Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task. Who we are Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals. Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa. Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect. What we do We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability. No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies. Contact: Name: Chris Smith Designation: Global Sales Manager E-mail: sales@credenceresearch.com Ph: 1-800-361-8290 Web: Credence Research Like it? Share it!More by this author |