Surge in production of automotive products has led to an increase in demand for graphite in the automotive industry. Moreover, Increasing need to replace asbestos has led to an upsurge in demand for graphite in various industries globally.
New York, NY -- (SBWIRE) -- 08/31/2017 -- According to a recently published report by Persistence Market Research, the graphite market is expected to register a CAGR growth of 3.0% over the forecast period, 2014 – 2020. Growing need for production of electronic products has led to a surge in demand for graphite in the global market. Increasing need for production of clutch materials, cylinder heads, and motors in the automotive industry is expected to rev up demand for graphite globally. Moreover, gaskets, cylinder heads, exhaust system, and disk brake lining & pads are produced through the application of graphite. Surge in application of lithium-ion based batteries is further likely to impact growth of the global graphite market. Graphite also witnesses considerable demand as a replacement of asbestos in various industries. Further, surge in production of ultra-lightweight carbon fiber reinforced plastic (CFRP) has led to a surge in demand for graphite. Such factors are likely to impact growth of the global graphite market during the projected period. Production of solar power systems, fuel cells, and pebble–bed nuclear reactors has led to surge in demand for enhanced technology. Moreover, increasing demand for enhanced technology in aerospace and automotive industries is expected to contribute towards growth of the global graphite market significantly. Synthetic graphite among other products is expected to witness a CAGR of 3.7%, and is expected to represent a value of US$ 16.06 Bn by the end of 2020. In 2013, this segment had represented US$ 16.6 Bn in the global graphite market. Graphite electrodes is expected to register a growth of 3% CAGR throughout 2020. This segment represented US$ 5.06 Bn in the global market in 2013.
Browse Complete Report @ http://www.persistencemarketresearch.com/market-research/graphite-market.asp
APAC among other regions is expected to remain a major market for graphite in the global market. India and China among other countries in APAC is expected to remain the major markets during the projected period. The graphite market in China represent a share of more than 70% in the global market. North America among other regions is expected to register 30% CAGR throughout 2020. Surge in demand for electronic devices including laptops, mobiles, cameras, and tablets, and electric vehicles is expected to fuel demand for graphite in North America. Europe among other regions is expected to represent the second major market for graphite in the global market. As carbon fiber is increasingly replacing steel in the aerospace and automotive industry, graphite is expected to witness a surge in demand for graphite.
Request to view table of content @ http://www.persistencemarketresearch.com/market-research/graphite-market/toc
Leading companies in the global market of graphite include Lamboo Resources Limited, Triton Minerals Ltd., Focus Graphite Inc., Mason Graphite, Northern Graphite Corporation, Energizer Resources Inc., Flinders Resources Ltd., Alabama Graphite Corp., SGL Carbon SE, Syrah Resources Limited, Graphite India Limited, GrafTech International Holdings Inc, Asbury Graphite Mills, Inc, Nippon Graphite Industries, Co., Ltd., Tokai Carbon Co., Ltd., Showa Denko K.K., and Showa Denko K.K.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3367
About Persistence Market Research
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.