The global synthetic graphite material market is foreseen to gain traction despite higher price than natural graphite. Application of synthetic graphite material in energy and battery devices is expected to raise demand in the market due to the factor of more durability than the natural type. Increasing manufacture of batteries moving in sync with escalating demand for smartphones is projected to bring in more demand in the coming years. In a report by Transparency Market Research (TMR), the market is thoroughly segmented based on different categories. Bearing the title “Synthetic Graphite Material Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” the report gives clarity on growth potential of different segments.
There could also be rich demand coming from industries such as aerospace, automotive, and sports equipment. Although these industries may be indirectly contributing to the world synthetic graphite material market, their contribution could not be turned a blind eye to. However, lethargic growth of the steel industry and cost advantage of the natural counterpart are foretold to hamper demand for synthetic graphite material. Nonetheless, players could take advantage of the advent of electric cars improving the application of synthetic graphite material to gain a strong foothold in the market.
The world synthetic graphite material market could be segregated into electrical and electronics, industrial, defense, automotive, and energy as per end-use industry. Synthetic graphite material is anticipated to rake in handsome demand as the requirement of lithium-ion batteries increases, since it is used in their manufacturing. These batteries find application in products from various industries including spacecraft, renewable power plant, automobile, and mobile phone. Synthetic graphite material is also used in metal welding, fabrication, and manufacturing in the industrial sector. In the automotive industry, it could be used in manufacturing a range of vehicle components and parts. From solar to nuclear, it finds application in various kinds of power generation projects.
On the basis of form, the international synthetic graphite material market could see a classification into fiber, powder, block, and electrode. Manufacturers of sports equipment usually use synthetic graphite fiber, whereas synthetic graphite powder could be used by automotive manufacturers. With respect to manufacturing process, there could be two segments, viz. pyrolysis processing and high temperature processing. However, among the two, high temperature processing is said to be commonly used in the manufacture of synthetic graphite material.
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China is researched to be counted among top global exporters of synthetic graphite material. As leading researchers predict, it could serve an expansive domestic market. The country could focus on value-added products to secure a strong position in the global market as production costs have become expensive because of environmental compliance process and domestic labor. The international synthetic graphite material market marks the presence of prominent players such as Nippon Graphite Group, Asbury Carbons Inc., and Toray Industries Inc.