Carbon And Graphite Product Global Market Report 2024

The carbon and graphite product market size has grown strongly in recent years. It will grow from $28.3 billion in 2023 to $30.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The historical period witnessed growth primarily driven by factors such as industrialization, the advantages of electrical and thermal conductivity, advancements in the automotive and aerospace sectors, developments in steel and metallurgy, and progress in battery and fuel cell technology.

The carbon and graphite product market size is expected to see strong growth in the next few years. It will grow to $38.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to factors like the increased emphasis on renewable energy and energy storage, the growing adoption of electric vehicles (EVs), the trend of electronics miniaturization, heightened environmental concerns, and advancements in space exploration. Key trends expected in the forecast period include the utilization of advanced carbon composites, the development of energy storage solutions, the expansion of 3D printing and additive manufacturing, a greater focus on environmental sustainability, and the adoption of advanced coating technologies.

The demand for carbon and graphite products is primarily fueled by increasing requirements from end-user industries, including energy, semiconductor, automotive, and aerospace. Additionally, the growing utilization of carbon and graphite in applications like fuel cells, electric vehicles, and graphene electronics is poised to drive market growth. For example, graphite plates are integrated into fuel cell electrodes to facilitate efficient energy conduction.

The primary types of carbon and graphite products encompass carbon and graphite electrodes, carbon and graphite fibers, carbon and graphite powder, among others. A carbon electrode, unlike a metal, falls into the category of semi-metals, capable of conducting electricity effectively under specific conditions, rendering it suitable as a conductor in certain applications. These metals, including platinum, are known for their high cost. Carbon and graphite products find application in various industries, including logistics, chemicals, food and beverages, and others, serving industrial and aerospace purposes, as well as catering to other end-user requirements.

The carbon and graphite product market research report are one of a series of new reports that provides carbon and graphite product market statistics, including carbon and graphite product industry global market size, regional shares, competitors with a carbon and graphite product market share, detailed carbon and graphite product market segments, market trends and opportunities, and any further data you may need to thrive in the carbon and graphite product industry. This carbon and graphite product market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global population's expansion is expected to be a significant driver for the carbon and graphite product market in the future. Population growth results from multiple factors such as birth rates, improved infant survival rates, migration, religious beliefs, and socio-economic influences. A rising population leads to heightened consumption of consumer goods, many of which rely on carbon and graphite materials for manufacturing. These materials find applications across various industries, including automotive, electronics, and manufacturing. Notably, as of November 2022, the global population has exceeded 8 billion, according to the United Nations Conference on Trade and Development, marking a one-third increase in the Earth's population in the last 25 years, with projections indicating further growth to nearly 10 billion by 2050. Hence, a growing population will continue to be a driving force for the carbon and graphite market.

The carbon and graphite product market is associated with adverse effects on human health and animals. Workers involved in graphite mining and processing often suffer from graphite pneumoconiosis, a well-recognized pulmonary condition. Prolonged exposure to carbon materials in animals leads to inflammatory reactions in the respiratory tract. These harmful effects on human and animal well-being directly impact the sales of carbon and graphite products.

Manufacturing companies in the carbon and graphite product market are adopting virtual reality technology to enhance manufacturing efficiency. This technology encompasses digital design, simulation, and integration, reducing the occurrence of product defects during the design phase. Virtual reality enables companies to inspect design objects at various scales, thus minimizing defects during the product design stage.

Leading companies in the carbon and graphite market are incorporating innovative technologies into their products, such as 50k carbon fibers, to gain a competitive advantage. The introduction of 50k carbon fibers addresses the stringent strength requirements commonly found in standard pressure vessel designs while exhibiting significant elongation capabilities. For instance, SGL Carbon, a global leader based in Germany, launched SIGRAFIL 50k carbon fibers in March 2023. These fibers open up new applications across market segments that demand high strength and elongation, offering enhanced process efficiency, increased material throughput, reduced processing times, and simplified setup efforts.

Major companies operating in the carbon and graphite product market include Cabot Corporation, Cytec, Solvay Group, Hexcel Corporation, Mersen S.A., HEG Ltd., Mitsubishi Rayon Co. Ltd., Nippon Carbon Co. Ltd., Toray Industries Inc., Tokai Carbon Co. Ltd., Orion Engineered Carbons LLC., SGL Carbon SE, Grafil, Morgan Crucible Company Plc., Morgan AMandT, Graphite Machining, Weaver Industries Inc., Dynamic Materials Corporation, GraphiteStore, Mercer Gasket & Shim, Morgan Advanced Materials & Technologies Inc., Toyo Tanso Co. Ltd., Superior Graphite Co., Asbury Carbons, GrafTech International Ltd., Poco Graphite, Carbon Graphite Materials Inc., Ameri-Source Specialty Products, Schunk Graphite Technology LLC, Graphite Products Corporation, St. Marys Carbon Company, Helwig Carbon Products Inc., Ohio Carbon Industries Inc., Olmec Advanced Materials Ltd.

Asia-Pacific was the largest region in the carbon and graphite product market in 2023. North America was the second-largest region in the carbon and graphite product market. The regions covered in the carbon and graphite product market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the carbon and graphite product market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The carbon and graphite product market consists of sales of carbon and graphite electrodes, carbon and graphite fibers, carbon and graphite powder, and other carbon and graphite products. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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