Latest News- Synthetic Graphite Market: Direct sales is expected to lead the Distribution Channel segment during 2024-2028

The Synthetic Graphite Market is being driven by Demand for high-purity synthetic graphite

The Synthetic Graphite Market is expected to grow at a CAGR of 5.25% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6.46 billion. In the realm of electric arc furnace (EAF) steel production, synthetic graphite electrodes assume a pivotal role due to their ability to generate the intense temperatures required for melting and refining scrap metal. The escalating demand for steel, fueled by the surge in infrastructure and construction projects, as well as industrial expansion, significantly boosts the utilization of synthetic graphite electrodes in this process. Additionally, synthetic graphite serves as a carbon additive in the manufacture of specialty steels and iron alloys, enhancing the desired properties, such as hardness and strength. The burgeoning demand for specialty steels, particularly those utilized in the automotive and aerospace industries, underpins the heightened adoption of synthetic graphite in metallurgical applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Direct sales
  • Distributors
• Application
  • Electrodes
  • Metallurgy
  • Parts and components
  • Nuclear
  • Others
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Demand for high-purity synthetic graphite
• Rising adoption of electric vehicles
• Increase in demand for synthetic graphite electrodes

However, the market also witnesses some limitations, which are as follows:

• High cost of synthetic graphite
• Environment regulations and sustainability in synthetic graphite production
• Volatile raw material prices

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Market Scope in Synthetic Graphite Market Research Report

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Research Analysis Overview

The Synthetic Graphite market is witnessing significant growth due to its applications in Graphite Electrodes for Metal Fabrication and Steel Furnaces, as well as in Anodes for Lithium-Ion Batteries used in Electric Vehicles (EVs) and Solar Infrastructure. High-purity Synthetic Graphite is essential for Energy Density and Charging Times in Lithium-Ion Batteries, making it a key component in the Construction Sector's pursuit of Climate Change Goals. The Chemical Sector also utilizes Synthetic Graphite in the production of Ferroalloys and Refractories. China's dominance in the Synthetic Graphite supply chain, with its Terawatt-Hours of Metal Furnace capacity, significantly influences market dynamics. Synthetic Carbon, a derivative of Synthetic Graphite, is also gaining traction in various industries.

Market Research Overview

The Synthetic Graphite market is a significant segment of the global diversified metals and mining industry, according to Technavio's market research. This sector encompasses companies involved in the production of Synthetic Graphite, a crucial component in various industries, including the construction sector for refractories and the electric vehicle (EV) market for lithium-ion batteries as anodes. Synthetic Graphite is a type of graphite derived from non-ferrous metals such as lithium, tantalum, and tellurium, among others. The global diversified metals and mining market's size is determined by Technavio based on the combined revenue generated from the production or extraction of these metals and minerals and diversified mining operations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/