FREMONT, California, September 13, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled 'Global Spherical Graphite Market', the global spherical graphite market (by volume) is expected to grow at a CAGR of 24.37% from 2018 to 2023. And, the global spherical graphite market is expected to reach a value of $4.95 billion by 2023. This growth is highly attributed to the rising demand for sustainable & environment-friendly alternatives from the consumers. The upcoming giga-factories for lithium-ion battery production provide an instant boost to the spherical graphite market. Companies across the globe are focusing on the commercialization of spherical graphite outside of China at a large scale. Moreover, the huge addressable market for lithium-ion batteries in the form of transportation batteries, consumer electronics, and energy storage provides immense opportunities for growth in the market.
Growth in the spherical graphite market is attributed to the upsurge in the usage of lithium-ion batteries. Currently, China dominates the production as well as the consumption of the spherical graphite. However, the initiatives taken by producers based in other regions and the upcoming surge in the electric vehicle demand ensure its widespread adoption in other parts of the world.
The automobile and consumer electronics industries are shifting towards bio-economy. The advent of electric vehicles has led to the increased consumption of spherical graphite as it enhances the efficiency of lithium-ion batteries. Natural spherical graphite is an environment-friendly as well as cost-effective alternative to the existing synthetic spherical graphite. Natural spherical graphite also has minimal carbon footprint in its production, which acts as a major driving factor behind the wide acceptance by the consumers.
According to Ajeya Saxena, Analyst at BIS Research, "In 2017, Asia-Pacific occupied the highest share of spherical graphite consumption, with a share of 58% which is expected to grow further to 62.2% by 2023. On being fully-operational, the Tesla giga-factory in the U.S. is expected to possess a capacity of 35 GWh, thus revolutionizing the consumption of spherical graphite in lithium-ion batteries.
The spherical graphite market encompasses a wide array of applications such as consumer electronics, transportation batteries, and energy storage. The transportation batteries application is expected to grow at the fastest rate when compared with other applications, owing to the vast usage of lithium-ion batteries in the electric vehicles. The development of spherical graphite has been supported by leading consumers, such as Samsung, Panasonic Corporation, and LG Chem, amongst others."
This report is a meticulous compilation of research which encompasses more than 70 players in the spherical graphite ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles ten companies which include Syrah Resources Limited, Focus Graphite Inc., Black Rock Mining Limited, Battery Minerals Limited, Yingkou Botian Material Technology Co., Limited, Qingdao Yanxin Graphite Products Co. Ltd, Qingdao Black Dragon Graphite Group, Jixi BTR Graphite Industrial Park Co., LTD, Imerys Graphite & Carbon, and Aoyu Graphite Group.
Key questions answered in the report:
What was the size, in terms of value and volume of the spherical graphite market in 2017, and how is the market expected to grow from 2018 to 2023?
What was the market size of spherical graphite market in terms of value and volume for different applications and how are these applications expected to grow from 2018 to 2023?
What was the market size of spherical graphite market in terms of value and volume for different types and how are these types expected to grow from 2018 to 2023?
What was the market size for spherical graphite consumption in value and volume across regions and countries, and how are they expected to grow from 2018 to 2023?
What are the key trends and opportunities in the market, pertaining to the countries included in different geographical regions?
What was the market size for spherical graphite market in terms of value and volume for different types of spherical graphite across regions?
What was the market size for spherical graphite market in terms of value and volume for different applications of spherical graphite across countries?
How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of the spherical graphite market?
What are the major driving forces that tend to increase the demand for the global spherical graphite market during the forecast period?
What are the major factors inhibiting the growth of the global spherical graphite market?
What are the opportunities on which the market players could capitalize in order to grow in the spherical graphite market?
What kind of new strategies are being adopted by the existing market players to expand their footprint in the industry?
Who are the key market players, along with their detailed analysis and profiles (including company snapshots, their financials, key products & services, and SWOT analysis)?
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.
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