Discussing the Increasing Consumption of Graphite Worldwide
This blog is dedicated to understanding graphite, the most stable form of carbon, and its diverse application across different verticals.
Have you ever wondered why carbon is always in the talk? Perhaps it is an essential element for a wide variety of things on this planet— for manufacturing material things or an essential aspect for plants' respiration, one can find carbon more or less in everything.
This blog is dedicated to understanding graphite, the most stable form of carbon, and its diverse application across different verticals. Owing to its versatility & unique properties of both metal/non-metals, graphite is well-utilized right from a pencil tip to a battery or a modular reactor.
Long back, graphite was used commonly in manufacturing refractors, automotive parts, paints & inks, polymers, & other materials. However, with constant developments, its application has expanded to several industrial materials, fire-safe products, & high-end batteries. As a result of its growing applications, a research report by MarkNtel Advisors has cited that the Global Graphite Market is set to register around 5% CAGR during 2022-27. Wondering about the prominent reasons behind this growth pace!! Stick with the blog to learn more.
Due to rapid urbanization & industrialization in recent years, the demand for graphite has significantly accelerated worldwide for various applications in the manufacturing & construction industries. Besides, since graphite exhibits both natural & synthetic properties, the manufacturing industry is extensively exercising its potential in numerous ways owing to its high tensile strength, electro-conductivity, and malleability. Additionally, owing to the versatility of graphite, several companies in the industry are conducting various research & development activities to expand its application. Currently, it is being utilized extensively in manufacturing lithium-ion batteries for Electric Vehicles (EVs), which are witnessing increasing sales globally.
Changing Dynamics of Graphite Applications
While the world witnessed a temporary hold on all kinds of operations, back in 2021, the graphite industry also witnessed a downfall amidst the Covid-19 crisis. Yet, post the upliftment of restriction, the industry is setting up a slow & steady pace toward the revival of the usual supply chain, production, distribution, and procurement, associated operations worldwide. Hence, it can be said that the dynamic of the graphite industry fluctuated back in the years, yet is now prepared for the future.
While the utilization of graphite is versatile and can be seen in numerous sectors, listed below are the most prominent areas where graphite is witnessing massive application and shall further generate growth opportunities for the players in the coming years.
- Energy sector in Lithium-ion batteries
- Automotive sector for manufacturing parts & Electric Vehicles
- Chemical sector in inks, paints & polymer
- Steelmaking & silicon industries
A Way Ahead for the Graphite Industry
While these are a few of many industries wherein graphite is witnessing an increasing demand across different corners worldwide. As versatile as the application of graphite is across multiple sectors, there are a few challenges with its excessive use. After all, it is carbon, and its constant utilization poses health & environmental issues. Yet, when used safely, graphite continues to be a core aspect of most industries, right from steel & paints to batteries & more, thereby projecting lucrative prospects for the Global Graphite Market in the years ahead.