PRESS RELEASE
Posted on April 21, 2023
The global carbon and graphite market is expected to reach US$32 billion by 2033, growing at a CAGR of 5.9% from 2023 to 2033, according to a new industry analysis by Fact.MR, a research provider of market and competitive intelligence.
Carbon and graphite are used for specialty components because they offer self-lubricating qualities, high temperature capabilities, wear resistance, and the ability to be used with corrosive materials when properly prepared.
Growing demand from end-use industries such as semiconductors, energy, construction, steel, aerospace, and automotive is driving the global carbon and graphite market. In addition, increasing use of carbon and graphite in electric vehicles, fuel cells, and graphene electronics is likely to drive the global market during the forecast period.
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The automotive industry is currently experiencing an increase in demand for electric vehicles, which are more environmentally friendly than traditional vehicles. They are free of greenhouse gas (GHG) emissions, which pose a substantial danger to the ecosystem when released into the environment. Because of their many qualities, such as strong thermal resistance and chemical inertness, carbon and graphite are used to make anode material in lithium-ion batteries. In addition, the porous structure of carbon and graphite makes them an excellent choice for anode material.
An electric vehicle or a hybrid electric vehicle requires approximately 10-70 kg of carbon and graphite, which is expected to immediately lead to an increase in demand for carbon and graphite. These factors are expected to drive the growth of the global carbon and graphite market throughout the forecast period.
Main key players:
- Cabot Corporation
- Mitsubishi Chemical Holdings Corporation
- Solvay SA
- GrafTech International Holdings Inc
- Mersen SA,
- HEG Ltd
- Mitsubishi Chemical Carbon Fiber and Composites, Inc
- Hexcel Corporation
- Morgan Advanced Materials Plc
Key points of the market study
- The global carbon and graphite market is valued at USD 18 billion by 2023.
- The market is expected to fetch $32 billion by 2033.
- Global demand for carbon and graphite is expected to increase at a CAGR of 5.9% from 2023 to 2033.
- Asia Pacific held a 60% share of the global carbon and graphite market by 2022.
- Demand for carbon and graphite powder is likely to develop at a CAGR of 3.2% during the forecast period.
“The advantages of using carbon and graphite, including superior electrical and thermal conductivity, lubricity, chemical resistance and others, are driving their use in various sectors. The global market is benefiting from the booming electric vehicle market .Carbon and graphite are used to create anodes, which are needed in batteries, especially those used in electric vehicles. says an analyst at Fact.MR
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Regional analysis
Asia Pacific is expected to dominate the global carbon and graphite market during the study period. Asia Pacific is a center for the main industries of construction, steel and automotive. Additionally, India, South Korea, Japan, and China are supporting the growth of the market in Asia Pacific.
The growth of the Asia Pacific market is mainly due to the region’s expanding economies and increasing urbanization and industrialization. In addition, the growing need for lithium-ion batteries and electronic components is driving the demand for carbon and graphite in the region.
Key segments of the Carbon and Graphite industry research
- By product type:
- Carbon and graphite electrodes
- Carbon fibers and graphite
- Carbon and graphite powder
- Other types of products
- By region:
- North America
- Latin America
- europe
- APAC
- thing
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More valuable information on offer
Fact.MR, in its new offering, presents an unbiased analysis of the global carbon and graphite market, presenting historical demand data (2018-2022) and forecast statistics for the period 2023-2033.
The study discloses essential market insights based on product type (carbon and graphite electrodes, carbon and graphite fibers, carbon and graphite powder, other product types), across five major regions (North America, Europe , Asia Pacific, Latin America). , and MEA).
About Fact.MR
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