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Global Graphite Market

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By Author: Dimitri Maximize
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Global Graphite Market is expected to reach US$ 29 Bn by 2026 at a CAGR of about 5% during a forecast period.
Global Graphite Market

The report segment Graphite market based on type, application, and region. Based on the type graphite market is classified into natural graphite, synthetic graphite. In terms of application, graphite market can be segmented into refractory, foundry, battery, friction product, lubricant. Based on the vertical, graphite market is divided into steel, automotive, aerospace. By region, graphite market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Increase in the demand for lightweight materials in aircraft components. Technology advancement and Developments in the production of lithium-ion batteries are driving the growth in the graphite market. Incomparable property of graphite in supporting large batteries and increasing demand for graphite by the manufacturer of hybrid vehicles and viable electric vehicle are boosting the growth in global graphite market.

By application, the global graphite market is classified into lubrication, refractories, foundry, and battery. The battery segment is anticipated to grow at significant CAGR during the forecast period. Batteries which are used in hybrid electric vehicles require a large amount of graphite. Strong demand for the electric vehicle is increasing the requirement for batteries segment which helps to boost the growth in the global graphite market.

Based on the vertical, graphite market is divided into steel, automotive, aerospace. The aerospace industry shares the high growth in the global graphite market. Graphite is broadly used in the aerospace industry. Graphite offers the development of lightweight structural parts which helps to expand fuel efficiency. Graphite provides the feature of high strength-to-weight capacity with compared to outmoded aerospace materials such as metals and plastics.

In terms of region, the global graphite market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. Asia-Pacific is expected to dominate the graphite market in forecast year owing to rapid industrialization in developing economies such as China and India. The growing demand for graphite in the array of application such as automotive, aerospace and steel are driving the growth in this region.

The Scope of Global Graphite Market:

Global Graphite Market by Type:

• Natural Graphite
• Synthetic Graphite

Global Graphite Market by Application:

• Refractory
• Foundry
• Battery
• Friction Product
• Lubricant

Global Graphite Market by Vertical:

• Steel
• Automotive
• Aerospace

Global Graphite Market by Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

For more information visit : https://www.maximizemarketresearch.com/market-report/global-graphite-market/14950/

This information is reported by Maximize Market Research

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