Special and Extruded Graphite Market Grows in Response to Increased Demand
The global special and extruded graphite market is expected to grow due to the increasing demand for graphite in various end-use industries. The market is projected to reach USD 3.14 billion by 2027, growing at a CAGR of 7.2% during the forecast period. This growth can be attributed to the increasing demand for graphite in the automotive, aerospace, and electronics industries.
Graphite is a naturally occurring mineral that is widely used in industrial applications due to its excellent thermal and electrical conductivity, high strength, and low coefficient of thermal expansion. Special and extruded graphite are high-purity forms of graphite that are used in applications such as thermal management, lubrication, and carbon brushes.
The automotive industry is the largest consumer of special and extruded graphite, accounting for over 40% of the market share. This is due to the increasing demand for electric and hybrid vehicles which require high-performance batteries that use graphite anodes. The aerospace industry is also a major consumer of graphite, using it in applications such as rocket nozzles and heat shields.
The electronics industry is another major consumer of special and extruded graphite, using it in applications such as heat sinks, electrical contacts, and semiconductor processing equipment. The increasing demand for consumer electronics such as smartphones, laptops, and tablets is driving the growth of this market.
Key Companies in the Special and Extruded Graphite Market
The special and extruded graphite market is highly competitive, with several key players operating in the market. Some of the major companies in the market are:
1. Toyo Tanso Co. Ltd.
2. SGL Carbon SE
3. Mersen SA
4. GrafTech International Holdings Inc.
5. Showa Denko K.K.
6. Nippon Carbon Co. Ltd.
7. SEC Carbon Ltd.
8. Graphite India Limited
9. Kaifeng Carbon Co. Ltd.
10. Datong Xincheng New Material Co. Ltd.
Strategies of Key Companies in the Special and Extruded Graphite Market
The key players in the special and extruded graphite market are adopting various strategies such as mergers and acquisitions, partnerships, and product launches to expand their market presence and increase their revenue share.
For instance, in 2019, GrafTech International Holdings Inc. announced the completion of its merger with Brookfield Business Partners LP, which allowed the company to expand its global reach and strengthen its position in the special and extruded graphite market.
In 2021, Mersen SA announced a partnership with NPL Techno Pvt. Ltd. to expand its presence in the Indian market. This partnership will allow Mersen to provide a wide range of advanced materials and solutions to the Indian market, including special and extruded graphite products.
Revenue Share Analysis of Key Companies in the Special and Extruded Graphite Market
According to a report by Reports and Data, SGL Carbon SE is the leading player in the special and extruded graphite market, accounting for over 20% of the market share. Other major players in the market include Toyo Tanso Co. Ltd., Mersen SA, and GrafTech International Holdings Inc.
The report also highlights that Asia-Pacific is the largest consumer of special and extruded graphite, accounting for over 40% of the market share. This is due to the increasing demand for graphite in the automotive and electronics industries in countries such as China, Japan, and South Korea.
Conclusion
The special and extruded graphite market is expected to grow due to the increasing demand for graphite in various end-use industries such as automotive, aerospace, and electronics. Key players in the market are adopting various strategies such as mergers and acquisitions, partnerships, and product launches to expand their market presence and increase their revenue share. The Asia-Pacific region is the largest consumer of special and extruded graphite, driven by the increasing demand for consumer electronics and electric vehicles.