Global Spherical Graphite Market to Reach $4.95 Billion by 2023
Over the last decade, several industries have witnessed a massive transformation, owing to the increasing demand for sustainable manufacturing systems.Consumers have started questioning about products and their supply chains due to rising consumer awareness and high environmental concerns.
Various research companies and institutes are working to develop innovative alternatives to the existing technologies that are environment friendly and reduce carbon dioxide emission.Spherical graphite is at a nascent stage and has the potential to address the rising concern regarding emissions.
Foreseeing their potential utilization in the upcoming giga factories, spherical graphite is anticipated to improve the road transportation system. With the rapid advancements and innovations in the transportation sector, spherical graphite market is expected to offer extensive opportunities to revolutionize the emerging lithium-ion industries in which spherical graphite is used.
The market research study offers a wide perspective of spherical graphite and its different applications.The report also provides an analysis for the market penetration of these applications and their growth opportunities across different regions and countries.
The study focuses on the changing landscape of the spherical graphite market, owing to the increase in capacity of leading players.The study helps in keeping close taps on the spherical graphite market as its production is expected to start on a large scale in China and other parts of the world.
The research is based on extensive primary interviews (in-house experts, industry leaders, and market players), and secondary research (a host of paid and unpaid databases), along with the analytical tools, that have been used to build the forecast and predictive models.
This work was designed to answer some of the most crucial questions about the spherical graphite market: • What was the size, in terms of value and volume of the spherical graphite market in 2017, and how is the market expected to grow from 2018 to 2023? • What was the market size of spherical graphite market in terms of value and volume for different applications and how are these applications expected to grow from 2018 to 2023? • What was the market size of spherical graphite market in terms of value and volume for different types and how are these types expected to grow from 2018 to 2023? • What was the market size for spherical graphite consumption in value and volume across different regions and countries, and how are they expected to grow from 2018 to 2023? • What are the key trends and opportunities in the market, pertaining to the countries included in different geographical regions? • What was the market size for spherical graphite market in terms of value and volume for different types of spherical graphite across different regions? • What was the market size for spherical graphite market in terms of value and volume for different applications of spherical graphite across different countries? • How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of spherical graphite market? • What are the major driving forces that tend to increase the demand for the global spherical graphite market during the forecast period? • What are the major restraints inhibiting the growth of the global spherical graphite market? • What are the opportunities on which the market players could capitalize in order to grow in the spherical graphite market? • What kind of new strategies are being adopted by the existing market players to expand their footprint in the industry? • Who are the key market players in the market, along with their detailed analysis & profiles (including company snapshots, their financials, key products & services, and SWOT analysis)?
The report is a compilation of various segmentations including market breakdown by application and region.The report highlights the key driving and restraining forces as well as the market opportunities in different applications across the leading countries in the spherical graphite market.
In the extensive primary research process undertaken for this study, the primary sources include industry experts and key executives from prominent companies and organizations across the spherical graphite value chain.
The trends of the spherical graphite market vary with different geographical regions.The spherical graphite market holds a prominent share in various countries of North America, Europe, and Asia-Pacific (APAC).
The report also provides a country-based analysis for all the leading countries in every region, including the U.S, the U.K, China, Japan, Poland, Hungary, and South Korea. Each geographical region analysis details the individual push and pull forces in addition to the key players and applications in that particular region.
Executive Summary The climatic instability and rising pollution concern coupled with the depleting fossil fuel reserves have accelerated the adoption of alternative sources of energy.The issue of sustainability to meet the global energy demand at present and in the future as well, has led to a transitioning phase from using fuel reserves to renewable energy sources such as batteries.
Over the years, the battery industry has gone through a lot of evolution to serve the energy requirements, such as long battery lives and high energy storage capacity, among others, in an efficient way. A major innovation in the battery industry is lithium-ion batteries, whose demand is largely driven up by significant increase in the inclusion of electric vehicles for transportation purpose.
Spherical graphite is a niche technology contributing to the ongoing energy storage revolution by accelerating the performance of lithium-ion batteries.It is majorly used as a battery anode material in the lithium-ion batteries.
The demand for battery anode material is rising, owing to the upsurge in the demand for lithium-ion batteries.
The spherical graphite used in the batteries is of two types namely- synthetic graphite and natural spherical graphite.Traditionally synthetic spherical graphite was used as battery anode material, but now its demand is outpaced by the natural spherical graphite, a new alternative which is cheaper and has minimal carbon footprint.
This alternative is being preferred by the consumers, owing to its environment friendly formation process.The technology is at a nascent stage and the producers are yet to master the usage of natural spherical graphite efficiently.
Moreover, it is a cost effective and an environment friendly option.
Currently, China dominates the production and consumption of spherical graphite.The enforcement of government policies has been acting both as driving and restraining factors for the growth of spherical graphite market in China.
Various environmental regulations have led factories to cut down on their production limits.On the contrary in order to bring a renaissance in the road transport, China has been promoting the growth of electric vehicles and lithium-ion batteries as a part of energy storage solution.
These dynamics have somehow changed the supply and demand pattern of the spherical graphite market in China.However, it would be interesting to see the growth patterns of other regions in the capacity utilization and production of spherical graphite market.
The growth of spherical graphite has gained momentum, since the advent of giga-factories. The upcoming giga-factories are expected to generate constant demand for battery anode materials, leading to several players investing in the production of spherical graphite.
In 2017, the spherical graphite market was valued $XX billion which is expected to reach $4.95 billion by 2023. The market (in terms of value) is expected to grow at the CAGR of XX% from 2018 to 2023. Whereas, the market (in terms of volume) was estimated XX kilotons in 2017 and is expected to reach XX kilotons by 2023. The market in terms of volume is expected to grow at a CAGR of 24.37% from 2018 to 2023. The increasing demand of lithium-ion batteries for the development of giga-factories is expected to push the growth of the market.
The spherical graphite market revolves around the major applications which include consumer electronics, transportation batteries, and energy storage.The transportation batteries generate a large share of the market revenue owing to the high cost of synthetic spherical graphite which is the choice-of-material for this application.
The expected increase in the demand for electric vehicles would drive the growth for spherical graphite usage in transportation batteries application.
The trends of the spherical graphite market vary with different geographical regions. The spherical graphite market holds a prominent share in various countries of North America, Europe, and Asia-Pacific (APAC).
The Asia-Pacific region occupied the highest market share in terms of value and volume currently.The Asia-Pacific market, followed by North America and Europe, is expected to show the fastest growth during the forecast period.
The upcoming giga-factories for lithium-ion batteries are expected to accelerate the growth of spherical graphite in the mentioned regions.
The latest strategies and developments adopted by the key market players in order to lead the spherical graphite market are discussed in this section. Companies in order to grow, work in collaboration with the top market leaders, acquire the relatively weaker companies, bring new products and services to the market, and improve the existing products.
Battery Minerals Limited has been partnering with a number of institutions and organizations for further development and commercialization of spherical graphite.In June 2018, Metals Australia Ltd, signed an MOU with Weihai Nanhai Carbon Ltd, in order to develop a graphite mine in Canada.
Weihai Nanhai Carbon Ltd, is also evaluating samples of graphite concentrate for the production of spherical graphite. Battery Minerals Limited, signed MOUs with multiple companies to facilitate the production of spherical graphite.
Spherical graphite market offers immense opportunities for growth to the existing as well as potential producers. The market is expected to show good growth, owing to the increasing demand for lithium-ion batteries across different applications.
Countries Covered • Asia-Pacific (by Country) • China • Japan • South Korea • Rest-of-Asia-Pacific • Europe (by Country) • Poland • Hungary • The U.K. • Rest-of-Europe • North America (by Country) • The U.S. • Rest-of-North America
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