Indispensable Usage of Graphite in the Steel and Refractories Industry is Driving the Growth of the Asia-Pacific Graphite Market

The primary application of synthetic graphite is in the manufacturing of graphite electrodes, which are capable of handling extremely high electrical currents. These electrodes are formed by shaping synthetic graphite immediately after its production. The graphite electrodes are a critical component in Electric Arc Furnace (EAF) steelmaking. They serve as conductive materials that transfer electrical energy to the EAF, where they create high-temperature arcs to melt steel scrap and other raw materials. Graphite electrodes must withstand extreme heat and mechanical stress during this process. Graphite is used to line ladles and other vessels used in the steelmaking process. It provides excellent thermal resistance, allowing for the transportation of molten steel from the furnace to the casting area.

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Data Bridge Market Research analyzes the Asia-Pacific Graphite Market is expected to reach USD 15,913,167.87 thousand by 2030 from USD 8,810,314.29 thousand in 2022, growing with a substantial CAGR of 7.8% in the forecast period of 2023 to 2030.

Key Findings of the Study

Versatility and Exceptional Electrical Conductivity of Graphite

Graphite emerges as a crucial component in various aspects of electronic device design and functionality. Its remarkable properties have enabled the seamless integration of advanced technologies into people’s daily lives from its role in batteries that power smartphones and laptops to its presence in thermal management solutions and even as a fundamental component in touchscreens.

It is used as an anode material in lithium-ion batteries, which are widely used in smartphones, laptops, and other portable electronic devices. The graphite anode helps store and release electrical energy efficiently. It is also used in thermal management solutions such as graphite heat sinks and Thermal Interface Materials (TIMs) to dissipate heat from electronic components, ensuring they operate at optimal temperatures. Electronic devices, especially those with touchscreens or keyboards, use graphite as a lubricant or as a component in conductive inks to facilitate smooth and reliable touch or keypress interactions.

Report Scope and Market Segmentation

Segment Analysis

The Asia-Pacific graphite market is segmented into three notable segments based on product type, physical form, and application.

• On the basis of product type, the market is segmented into synthetic and natural

In 2023, the synthetic segment is expected to dominate the Asia-Pacific graphite market

In 2023, the synthetic segment is expected to dominate the market with a market share of 64.99% due to its consistent quality and purity, making it ideal for high-demand applications, such as lithium-ion batteries and electronics, where precision and performance are necessary.

• On the basis of physical form, the market is segmented into flake additives, powder, expandable flake, pellets, and film & sheet

In 2023, the flake additives segment is expected to dominate  the Asia-Pacific graphite market

In 2023, the flake additives segment is expected to dominate the market with a market share of 20.24% due to its ability to enhance various industrial products, such as lubricants, paints, and coatings, due to its high conductivity, thermal resistance, and wear resistance, making it a valuable addition in multiple industries.

• On the basis of application, the market is segmented into consumer electronics, transportation, industrial, building & construction, medical diagnostics, and defense. In 2023, the consumer electronics is expected to dominate the market with a market share of 35.39%

Major Players

Data Bridge Market Research analyzes Tokai Carbon Co., Ltd. (Japan), GrafTech International (U.S.), SGL Carbon (Germany), Mersen (France), and Toyo Tanso Co.,Ltd. (Japan) as the major players operating in the Asia-Pacific graphite market.

Market Developments

• In July 2023, Mersen, a global leader in electrical power and advanced materials, officially inaugurated its Columbia manufacturing facility in the U.S. This 240,000-square meter site, acquired in 2019, has undergone significant investment totaling nearly USD 70.00 million over the past four years to expand its production capabilities, focusing on extruded and isostatic graphite. The facility is strategically positioned to meet the growing demand, particularly in the semiconductor market. Mersen's 2027 plan includes a target to increase isostatic graphite manufacturing capacity globally to 16,000 tons by the end of 2024. This expansion reinforces Mersen's commitment to sustainable development markets, with a specific focus on the SiC semiconductor market
• In July 2023, Toyo Tanso Co., Ltd. announced a capital investment to increase production capacity at its consolidated subsidiaries to meet the growing demand for high-purity graphite products. This helped the company expand its presence in Asia-Pacific
• In June 2023, Superior Graphite, a prominent graphite producer, is embarking on the construction of a state-of-the-art anode materials facility worth USD 180.00 million. This strategic move aims to cater to the growing demand for Electric Vehicles (EVs) and energy storage solutions in both the North American and European markets. Leveraging Superior Graphite's innovative production technology and established operations at these sites will enable a seamless and continuous production process, thereby significantly reducing both capital investment requirements and operational expenses
• In June 2023, Resonac Corporation acquired the remaining 50% of outstanding shares in AMI Automation, a provider of automation solutions, expanding its ownership to 100%. AMI specializes in automation, control, and optimization solutions for various industries, particularly in optimizing Electric Arc Furnace (EAF) operations, a vital component of the steel industry. This acquisition, expected to be completed in the third quarter of 2023, enables Resonac to broaden its graphite electrode business to include comprehensive support for the digitalization of EAF production processes, aligning with the increasing demand for sustainable and efficient steel production
• In September 2022, Showa Denko K.K. (SDK) and Showa Denko Materials Co., Ltd. (SDMC) merged to create "Resonac," with SDK becoming "Resonac Holdings Corporation" and SDMC transforming into "Resonac Corporation" as of January 1, 2023. This strategic move aims to establish Resonac as a leader in advanced functional materials within the chemical industry. The newly integrated company will boast substantial net sales, largely driven by semiconductor and electronic materials, particularly in the "back-end process." Resonac seeks to achieve synergy, innovation, and the development of new market values by combining SDK's stable businesses with SDMC's growth potential. Special focus will be placed on the semiconductor and electronic materials sector, ensuring the company maintains net sales exceeding 1 trillion while maintaining an EBITDA margin of over 20%

Regional Analysis

Geographically, the countries covered in the Asia-Pacific graphite market are China, Japan, India, South Korea, Australia, Thailand, Singapore, Philippines, Malaysia, Indonesia, and Rest of Asia-Pacific.

As per Data Bridge Market Research Analysis:

China is expected to dominate the market and is estimated to be the fastest-growing country in Asia-Pacific graphite market

China is expected to dominate the market and is estimated to be the fastest-growing country in the Asia-Pacific region due to its abundant graphite resources, low production costs, and high demand for graphite in industrial applications, such as steel production and lithium-ion batteries.

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