Graphite Market Analysis By Industry Size, And Share, Manufacturers, Demand, Forecast 2027
Global Graphite market is projected to reach USD 29 Billion, growing at a CAGR of over 5% during the forecast period, owing to rising consumption of lithium ion batteries. Based on the type, the Global Graphite market has been segmented into Natural Graphite and Synthetic Graphite. The synthetic graphite segment accounted for the largest share of the market in 2021 and is expected to grow at higher rate during the forecast period due to its superior consistency and higher purity as compared to natural graphite. Based on the application, the Global Graphite market is categorized into Refractory, Foundry, Battery, Friction Product and Lubricant. Refractory segment dominated the market in 2021. The growth of this segment can be attributed to the rapid industrial development and the increased demand for graphite from industries, such as automotive, construction, aerospace, and metal production, among others in the region. Geographically, the market has been segmented into Asia-Pacif...