Graphite Market to See Robust Growth through 2021
Applications in refractories and metallurgy, as well as electrical and technical markets, are contributing to the growth of the global graphite market.
The global market for graphite reached $12.5 billion in 2016 and should climb to $18.2 billion in 2021, growing at a compound annual growth rate (CAGR) of 7.7% from 2016 through 2021, according to a report available from Research and Markets. Refractories and metallurgy applications make use of the high-temperature stability of graphite, while electrical applications tap into the high electrical conductivity of purer grades of graphite; technical markets make use of graphite’s strength properties, lubrication and radiation absorption.
The development of natural graphite mining and applications is being driven largely by the lithium-ion battery markets, which are fundamentally changing the structure of the graphite industry. In the synthetic graphite market, key applications include graphite electrodes and cathodes for aluminum smelting.
The refractories and metallurgical segment reached $17.2 billion in 2016 and should reach $9.4 billion in 2021, growing at a CAGR of 5.5% from 2016 through 2021. The electrical application segment reached $661 billion in 2016 and should reach nearly $2 billion in 2021, growing at a CAGR of 24.7% from 2016 through 2021.
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