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Special and Extruded Graphite Market - Size, Share, Industry Trends, and Forecasts (2023 - 2030)
ID : CBI_1223 | Updated on : | Author : Pavan C | Category : Materials and Chemicals
Special and Extruded Graphite Market Size :
Consegic Business Intelligence analyzes that the Special and Extruded Graphite Market size is growing with a CAGR of 5.2% during the forecast period (2023-2030), and the market is projected to be valued at 1,835.95 million by 2030 from 1,240.00 million in 2022.
Special and Extruded Graphite Market Scope & Overview:
Special graphite and extruded graphite are both types of synthetic graphite, but they are made using different processes and have different properties. Special graphite is made by cold isostatic pressing (CIP) of microparticles. It is used in wide end use industries as it provides high purity and precision, and has wide applications in the mold industry namely semiconductors, and electronics, among others. Extruded graphite is made with the help of pressing a fine graphite powder under pressure. This graphite is very economical to produce and is highly preferred in electrodes for usage in electric arc steel production, among others. Special and extruded graphite has features such as chemical resistance, electrical conductivity, heat resistance, and others which prove to be beneficial for their demand in the special and extruded graphite market.
Special and Extruded Graphite Market Insights :
Special and Extruded Graphite Market Dynamics - (DRO) :
Key Drivers :
Increasing demand for semiconductor and LED products is propelling the special and extruded graphite market growth
Special and extruded graphite is used in a variety of applications in the semiconductor industry including heat sinks, and wafer manufacturing, among others. Semiconductor has been foreseeing major demand due to its wide usage in power supplies, LEDs, computers, solar cells, and others. Graphite components are majorly used across different processes in semiconductor production. The reason is graphite is widely used across hot zones in the semiconductor production plants, such as heaters, insulation, and others. Also, graphite is utilized in high temperature furnaces and corrosive applications in semiconductor chip manufacturing process due to its features such as high strength, high density, excellent thermal conductivity, and others. Rising demand for semiconductor and LED products globally would increase the usage of special and extruded graphite. Hence, the increasing demand for semiconductor and LED products would lead to a rise in special and extruded graphite market growth.
Growing use of lithium ion batteries in the automotive industry is increasing the market growths
Special and extruded graphite is used in lithium-ion batteries due to its good conductors of electricity. Special and extruded graphite helps to prevent the battery from short-circuiting or corroding. Increasing demand for flourishing lithium-ion batteries in the automotive industry across the globe, especially in China is leading to special and extruded graphite market growth. Graphite is widely used as an anode material in lithium ion battery manufacturing because it is economical and has high energy density. Thus, the growing usage of lithium ion batteries in the automotive industry is propelling the rise in special and extruded graphite market growth. For instance, according to the statistics published by International Energy Agency, lithium ion battery demand grew by about 65% in 2022. For this reason, the growing use of lithium ion batteries in the automotive industry is increasing market growth.
Key Restraints :
Increasing shortages of graphite hamper the market growth
Increasing shortages of graphite and price shocks may hamper the market growth of special and extruded graphite. Due to EV production and the large utilization of graphite in the automotive industry, end users are facing unexpected shortages of graphite. For instance, according to a publication by the United States Geological Survey, the report states possible supply shortages of graphite, especially crystalline flake graphite, which are mostly required in large-scale fuel cell and battery applications. Thus, the growing shortage of graphite could hamper the special and extruded graphite market growth.
Future Opportunities :
Increasing investments in renewable energy is anticipated to drive the market growth
Rising investment in renewable energy technologies for driving sustainability and different government initiatives and investments in renewable energy is expected to drive the market growth of special and extruded graphite. Graphite is incorporated in different energy technologies including solar panels for extreme heat resistance and can work as a heat shield and thermal insulator. Thus, the wide application of graphite in renewable energy technologies such as solar and wind energy is expected to drive the market growth of special and extruded graphite in the forecast year.
Special and Extruded Graphite Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 1,835.95 Million |
| CAGR (2023-2030) | 5.2% |
| By Type | Special Graphite and Extruded Graphite |
| By Application | Electric Motor Brushes, Photovoltaic, Semiconductor & LED, High-temperature Furnaces, Metal, Glass & Refractory, and Others |
| By End Use Industry | Electronics, Foundry and Metallurgy, Automotive, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | Toyo Tanso, Tokai Carbon, Mersen, IBIDEN, Entegris (POCO), Graphite India, Chengdu Carbon, Liaoning Dahua Glory Special Graphite, GrafTech, BariteWorld |
Special and Extruded Graphite Market Segmental Analysis :
By Type :
The type segment is categorized into special graphite and extruded graphite. In 2022, the special graphite segment accounted for the highest market share in the overall special and extruded graphite market and is expected to grow at the fastest CAGR in the market during the forecast period. Special graphite is largely utilized across various end use industries due to the high purity and precision that it provides. Special graphite is demanded by electronics, semiconductors, and LED industries among others. Special graphite is widely employed in the manufacturing of silicon semiconductors, compound semiconductor, production of polysilicon, and others. The increasing growth of semiconductor industry across the globe is leading to a rise in demand for special graphite in the market. For instance, according to an article in 2023 by India Brand Equity Foundation, IBEF states that Indian semiconductor industry increased at a CAGR of 29.4% from 2015 to 2020 and is forecasted to increase further due to large application of semiconductors in industries such as telecommunication equipment, information technology, and others. Hence, due to the growing semiconductor industry, demand for special graphite is expected to increase significantly in the forecasted period.
By Application :
The application segment is categorized into electric motor brushes, photovoltaic, semiconductor & LED, high-temperature furnaces, metal, glass & refractory, and others. In 2022, semiconductor & LED segment is dominant by application due to growing semiconductor & LED product demand and the usage of graphite in the production of polysilicon. Also, in semiconductor & LED wide range of products are made from special graphite namely heat shields, cleaned electrodes for polysilicon separation, thermal insulation components, and gas ducts for converters.
However, the electric motor brushes segment is expected to grow at the fastest CAGR in the overall special and extruded graphite market. The reason is the unique properties that special and extruded graphite offers in electric motor brushes such as low coefficient of friction, high electrical conductivity, and high resistance to wear.
By End-Use-Industry :
The end-use industry segment is categorized into electronics, foundry and metallurgy, automotive, and others. In 2022, the automotive segment accounted for the highest market share of 48.55% and is expected to grow at the fastest CAGR in the overall special and extruded graphite market. Special and extruded graphite has wide usage in the automotive industry in gaskets, brake linings, and clutch materials. It is also widely demanded across carbon brushes for electric motors, and insulation in the automotive industry. Thus, increasing demand for electric vehicles globally is expected to increase the demand for special and extruded graphite in the automotive segment. For instance, according to a report published in 2023 by the U.S. Bureau of Labor Statistics, electric car sales in the United States increased from 0.2% of total car sales in 2011 to 4.6% in 2021. The report also states certain optimistic projections foresee electric vehicle sales surpassing 50% by 2030. Thus, the automotive segment would flourish significantly in the forecast period and would positively impact the growth of the special and extruded graphite market.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In 2022, Asia Pacific accounted for the highest market share of 37.05% and was valued at USD 459.42 million and is expected to reach USD 683.89 million in 2030. In the Asia Pacific region, China accounted for the highest market share of 28.50% during the base year 2022 owing to the large manufacturing hub and key players of the special and extruded graphic market operating in China. China holds the highest share in terms of consumption and production capacity of graphite electrodes globally. The rise in crude steel production in the Asia Pacific is significantly impacting positive growth in the special and extruded graphite market. For instance, according to the report published by the Ministry of Steel, crude steel production in India grew at 4.2% annually from 2017-18 to 2021-22 and is expected to grow exponentially in the long run. Special graphite molds are used extensively for crude steel production process and hence, Asia Pacific is expected to grow at a significant rate during the forecasted period.
In addition, North America is expected to grow at the fastest CAGR of 6.0% during the forecast period. The growth of the market in this region is forecasted to grow significantly due to rising adoption for electric vehicles in U.S. and Canada, increasing investments in renewable energy across this region, and rising demand for graphite from the battery and semiconductor industry.
Top Key Players & Market Share Insights:
The special and extruded graphite market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
- Toyo Tanso
- Tokai Carbon
- Liaoning Dahua Glory Special Graphite
- GrafTech
- BariteWorld
- Mersen
- IBIDEN
- Entegris (POCO)
- Graphite India
- Chengdu Carbon
Recent Industry Developments :
- In July 2023, Mersen inaugurates graphite manufacturing capacities in the USA at their Columbia plant. The plant spans around 240,000 square meters, and the site currently employs around 80 people. Mersen has plans of increasing its global isostatic graphite manufacturing capacities to 16,000 tons by the end of 2024.
- In April 2023, Graftech, a leading manufacturer of high-quality graphite electrode products expands operations with a new sales office in Dubai. This expansion to Dubai is expected to bring more business for Graftech in the near future, as Dubai is one of the potential markets across the globe.
Key Questions Answered in the Report
What was the market size of the special and extruded graphite market in 2022? +
In 2022, the market size of special and extruded graphite was USD 1,240.00 million
What will be the potential market valuation for the special and extruded graphite market by 2030? +
In 2030, the market size of special and extruded graphite will be expected to reach USD 1,835.95 million.
What are the key factors driving the growth of special and extruded graphite market? +
Growing use of lithium-ion batteries in the automotive industry is the key factor driving the growth of the special and extruded graphite market.
What is the dominating segment in the special and extruded graphite market by type? +
In 2022, the automotive segment accounted for the highest market share of 48.55 % in the overall special and extruded graphite market.
Based on current market trends and future predictions, which geographical region will have the fastest impact on the special and extruded graphite market's growth in the coming years? +
North America is expected to be the fastest-growing region in the market during the forecast period.