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Synthetic Graphite Market Anticipated to Surge – Technavio Projects $6.46 Billion Growth by 2028


Lauren Miller

May 17, 2024 - 22:15 pm


Soaring Expectations: Global Synthetic Graphite Market Set to Grow

NEW YORK, May 17, 2024 – Renowned market research company Technavio has forecasted a substantial growth period for the global synthetic graphite market, predicting an increase by USD 6.46 billion from 2024 to 2028. During this forecasted period, the market is anticipated to expand at a compound annual growth rate (CAGR) of 5.25%, indicating a robust phase of development for the industry.

Technavio has announced its latest market research report titled Global Synthetic Graphite Market 2024-2028

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For a deeper insight into the expected market size, growth trends, and past performance from 2018 to 2022, interested individuals and stakeholders can download a complimentary sample report in a matter of minutes.

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Market Forecast and Analysis Details

This detailed report lays out vital statistical data and analyses the prospects of the synthetic graphite market over the coming years. The evaluation period specified within the report spans from 2024 to 2028. The base year considered in this study is 2023, while historic data extracted and analyzed stretches from 2018 to 2022.

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Segmentation has been a crucial element of the study, examining various aspects that include distribution channels (such as direct sales and distributors), applications (including electrodes, metallurgy, parts and components, nuclear, and more), as well as geography, considering diverse regions such as Asia-Pacific (APAC), Europe, North America, South America, and the Middle East and Africa.

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Comprehensive analyses of key industry players have been provided, profiling companies like AMG Advanced Metallurgical Group NV, Asbury Carbons Inc., and other major entities that are shaping the synthetic graphite market landscape.

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Key Market Trends Propelling Growth

The impetus behind the growth of the synthetic graphite market can largely be attributed to its critical role in the production of electric arc furnaces (EAFs). These are predominantly used in steel manufacturing, known for achieving the high temperatures necessary for melting and refining various metals. The burgeoning demand for steel, spurred by substantial infrastructure investment, climate change objectives, and overall industrial expansion, has significantly increased consumption of synthetic graphite, particularly in specialized steel and iron alloys productions.

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Industries such as automotive and aerospace are prime consumers, often requiring enhanced properties like hardness and resilience that synthetic graphite can provide. Additionally, its application in Li-ion batteries as a negative electrode material is a key factor in the burgeoning terawatt-hour energy storage market.

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The chemical sector, which demands high-purity levels of synthetic graphite for refractories, bricks, monolithic crucibles, is another area of significant application. Closely tied with processes across steel, ferroalloys, aluminum production, and process energy sources, synthetic graphite remains an indispensable element within these industries.

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Market Challenges to Overcome

Despite its numerous advantages, synthetic graphite comes with challenges, primarily due to its substantial cost. Industries focused on cost-efficiency, like steel manufacturing and the chemical sector, are especially affected when integrating high-purity and high-performance synthetic graphite into their processes. The substantial costs associated with the production of synthetic graphite electrodes, integral to the efficiency of electric arc furnaces and other high-temperature applications, could restrain its broader adoption, particularly in the electric vehicle sector that relies on Li-ion batteries.

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To better comprehend the complexity of these challenges, and glean actionable insights for overcoming them, interested parties are encouraged to consider procuring the full research report.

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A Closer Look at Market Segmentation

Market segmentation provides a closer look into synthetic graphite's diverse applications: from electrodes in energy storage to refractories in high-temperature industries. One primary distribution channel fostering the market is direct sales, crucial for operations demanding highly specific product information and customer interaction. This arrangement proves beneficial in harnessing the key drivers for synthetic graphite across infrastructure and clean energy technology, particularly in the manufacturing of Li-ion battery anodes for terawatt-hours worth of energy storage.

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Framed by the awareness of government incentives and the growing urgency of environmental conservation, the market outlook for synthetic graphite is compelling. It stands as an essential commodity with its high-purity levels in contrast to its natural counterpart, catering to highly specialized applications.

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Intricate applications span the chemical industry, steel, aluminum, energy generation, and beyond. High-purity synthetic graphite is elemental in fabricating graphite electrodes, anodes for lithium-ion batteries, and energy density storage for electric vehicles (EVs), bolstered by direct sales that allow customization to meet precise industry needs.

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The implications of synthetic graphite's uses extend to construction, solar infrastructure, and metal furnaces, taking full advantage of its capability to withstand extreme temperatures. According to the World Steel Association, the consumption of steel products and steelmaking capacities in emerging economies is on an upward trajectory, further fueling the demand for synthetic graphite in a multitude of applications.

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Key trends point toward a shift in demand towards Li-Ion batteries in electric vehicles, the ongoing pursuit of clean energy solutions, and the vital role of energy density and charging times in metal fabrication processes.

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For more information on the market segregation and geographical analyses, including forecast and historic data, interested persons may access a sample report here.

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In-Depth Research Analysis

The synthetic graphite market's role encompasses various industries and applications from reinforcing bars in the construction industry to anodes in lithium-ion batteries for electric vehicles. It is often chosen over natural graphite due to its uniform size, shape, and higher electrical conductivity.

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China continues to dominate the supply chain and significantly contributes to global production. With growing demands for advanced energy storage and a notable shift towards electric vehicles, synthetic graphite's high energy density and quick charging capabilities become increasingly sought after in metal fabrication, solar infrastructure, and metallurgical processes.

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Market Research Outlook

The report presents a comprehensive overview of the synthetic graphite market, catering to sectors that shape the latest advancements in electric vehicles, lithium-ion batteries, and fuel cells. Driven by the heightened demand for energy storage and a paradigm shift towards electric cars, synthetic graphite stands out for its superior attributes.

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The impending growth of the market is also influenced by technological innovations, governmental policies, and the commitment to sustainability and clean energy across various industries.

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Table of Contents Highlights

  1. Executive Summary
  2. Market Landscape
  3. Market Sizing
  4. Historical Market Size
  5. Five Forces Analysis
  6. Market Segmentation

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Technavio: A Globally Recognized Research Powerhouse

Technavio stands as a premier global technology research and advisory firm, consistently delivering market analyses that unveil emerging trends and empowering businesses with the foresight to capitalize on market opportunities. Their comprehensive portfolio of over 17,000 reports, along with a specialized team of 500 analysts, equips a versatile clientele, including industry giants of the Fortune 500 cadre, with strategic insights.

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Aiding Business Strategies with Actionable Insights

Technavio's research approach has always been geared towards providing businesses of varying scales with the guidance to navigate market conditions and strengthen their market positions. These insights extend across different sectors and regions, allowing for a dynamic understanding of evolving market landscape.

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Connect with Technavio

For further information and guidance from Technavio’s experts, media and marketing executives and other representatives are ready to assist and provide substantial research data to aid decision-making. Please reach out for any inquiries:

Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website:

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This insightful research presented by Technavio is set to shape the understanding of the synthetic graphite market as it maneuvers through the challenges and capitalizes on the vigilant growth opportunities of the upcoming years.

SOURCE: Technavio

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With comprehensive and detailed forecasts on the one hand, and the clear challenges presented on the other, this synthetic graphite market research from Technavio positions interested parties well to tackle the market landscape that stretches ahead of us.

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