Graphite has emerged to become an inextricable component of batteries. Interestingly, the battery industry itself is in the middle of an evident change. As more communities are focusing on ways to go off the grid, battery technology has been catapulted into center stage. With this, the global graphite market is witnessing unique growth trends and prospects in each region of the world.
Browse the full Global Graphite Market Report: http://www.mrrse.com/graphite-market
According to the estimates of Persistence Market Research, a leading business intelligence company, the global graphite market will soar to US$ 17.56 billion by value and in terms of volume, it will stand at 4.48 million tons in 2020. Here are the regional trends, growth drivers, and restraints that will have a bearing on these estimated figures:
Asia Pacific Remains Graphite Powerhouse
Currently, Asia Pacific holds the distinction of being the largest graphite market in the world. There is no dearth of drivers for the graphite market in the APAC region. Some of the main drivers are: An increased demand for graphite in the burgeoning pebble-bed nuclear reactors, need for graphite as an enabler in several technologically-advanced electronic applications, the strong growth in the solar power industry, a palpable emphasis on fuel cells technology, as well as the promising growth demonstrated by the aerospace and automotive industry. Within Asia Pacific, China and India are the two leading graphite markets. Demand for graphite is expected to remain strong in the Asia Pacific region with the notable expansion of the steel and metals industry, which has led to more graphite electrodes being demanded in the APAC region.
China is the undisputed leader in the global graphite market. The country produces over 70% all graphite worldwide. Chinese authorities have been stressing on the promotion of battery-powered electric vehicles and according to the 12th Five-Year Plan in China, the target is to bring at least 5 million such vehicles on Chinese roads by 2020. Taking these factors into view, the demand for graphite will continue to soar in the Asia Pacific region.
North America Graphite Market to Show Exceptional Demand for Graphite
According to the estimates of recent analyses, the sales of plug-in EVs is expected to demonstrate a 30.0% CAGR between 2012 and 2020. This will prove to be the biggest driver for the graphite market in the North American region. Simultaneously, the demand for electronics such as tablets and smartphones is expected to show growth from 9.7 million as of 2010 to about 40.6 million in 2013. Because these gadgets make use of lithium-ion batteries, the demand for graphite in the North America electronics industry will remain promising. Like China, the U.S. too, is promoting the use of EVs. This will bode well for the graphite market in the larger North America market.
Browse the full Press Release of Global Graphite Market: http://www.mrrse.com/global-graphite-market
Europe’s Gradually-Accelerating Automotive Industry to Stimulate Demand for Graphite
The automotive industry in Europe is picking up after a period of slump. This will augur well for the graphite market in Europe. Graphite will be consumed in higher quantities for producing low-weight carbon fiber, especially by automotive and aerospace companies.
In Europe, the stringent green regulations will also promote the uptake of graphite as it regarded as being a key technology for greening initiatives. In Europe, graphite will be predominantly consumed for applications such as photovoltaics, storage, electronics products, and more.