The spherical graphite market is anticipated to grow at a CAGR of 33.40% from US$1,608.16 million in 2022 to US$12,809.33 million by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 18, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the spherical graphite market is projected to grow at a CAGR of 33.40% between 2022 and 2029 to reach US$12,809.33 million by 2029.

Spherical graphite is also known as battery-grade graphite. It is the products, which is consumed in the anode in the lithium-ion batteries. These are produced using high-quality natural flake graphite, which consists of high carbon. The spherical graphite is used as an anode, in the form of raw material, as it consists of a smooth and small surface, which prevents flaking and also ensures low irreversible capacity loss.

The spherical graphite is used in lithium-ion batteries, which are further used in various industries, like automotive, consumer electronics, and energy storage. The market demand for spherical graphite is sure to grow, with the increase in electric vehicle sales globally. The major driving point for EVs is its use of lithium-ion batteries, which create a sustainable energy storage solution, with zero carbon emission. Similarly, new consumer electronics products like laptops, smartphones, smartwatches, and smart goggles also use lithium-ion battery technology to operate efficiently.

Spherical graphite has several benefits as compared to typical flake graphite, and it is majorly produced in China. It was only in 2021, that the spherical graphite was produced outside China, in Australia. In February 2024, Syrah Resources commences its active anode material (AAM), in Louisiana, USA. They became the natural graphite AAM producer outside China, producing unpurified spherical graphite. The spherical graphite market is expected to witness major growth with the increase in the sales volume of electric vehicles. The lithium-ion battery is the most critical component of an EV, and currently, China is the biggest manufacturer of EV batteries with about 417 GWh capacity of total batteries produced in a year, followed by Europe with185 GWh per year and the USA at just 99 GWh per year.

The features offered by the spherical graphite in lithium-ion batteries attract various manufacturers to invest in this technology. In February 2024, General Motors, a USA-based automotive manufacturer committed to investing about US$ 150 million in NMG, for the supply of graphite advanced anode material batteries production for EVs. Similarly, NMG also signed an offtake agreement worth US$ 25 million in February 2024, to supply the active anode material for the North American lithium-ion batteries, with Panasonic. This agreement binds NMG to supply about 18,000 tons of active anode material for the batteries used by Panasonic, especially in the consumer electronics industry.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-spherical-graphite-market

The global spherical graphite market by type is segmented into two categories, natural and synthetic. Based on type, the synthetic graphite is expected to attain maximum share, as it offers higher density with greater thermal conductivity. Apart from this, synthetic graphite is much more efficient to produce than natural one and also has a lower cost of production.

By application, the global spherical graphite market is segmented into three categories, consumer electronics, transportation batteries, and energy storage. The transportation batteries category in the application segment will surely attain the maximum share in the forecast period. The spherical graphite offers low power loss when used in the lithium-ion battery, making the batteries more efficient. With increasing consumer consciousness of the environmental effects of internal combustion engine cars, the world witnessed a shift in change toward battery-operated vehicles, or EVs.

Based on geography, the global spherical graphite market is expanding significantly in the Asia Pacific region for various reasons. China is the biggest producer and technological leader in the spherical graphite production. The nation is also the biggest producer of lithium-ion batteries globally and also recorded the highest number of EVs sold globally. These factors create a suitable market opportunity for the producer of spherical graphite in the region.

The research includes several key players from the spherical graphite market, such as Aoyu Graphite Group, Qingdao Yanxin Graphite Products Co., Ltd, Black Rock Mining, Imerys Graphite & Carbon (Imerys Group), Syrah Resources Limited, Focus Graphite Inc., NETZCH Holding, Northern Graphite.

The market analytics report segments the global spherical graphite market as follows:

• By Type

o Natural
o Synthetic

• By Application

o Consumer Electronics
o Transportation Batteries
o Energy Storage

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others
 
Companies Profiled:

• Aoyu Graphite Group
• Qingdao Yanxin Graphite Products Co., Ltd
• Black Rock Mining
• Imerys Graphite & Carbon (Imerys Group)
• Syrah Resources Limited
• Focus Graphite Inc.
• NETZCH Holding
• Northern Graphite

Explore More Reports:

• Global Graphite Market: https://www.knowledge-sourcing.com/report/global-graphite-market

• Dry Lubricant Market: https://www.knowledge-sourcing.com/report/dry-lubricant-market

• Advanced Carbon Materials Market: https://www.knowledge-sourcing.com/report/advanced-carbon-materials-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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