Expandable graphite is being increasingly utilized in the building & construction industry as a flame retardant. Hence, rise in the construction activities across the globe is propelling the global expandable graphite market. Furthermore, an increase in the product used in applications such as sealing material, environmental protection, and high-energy battery material is expected to generate prominent business prospects in the expandable graphite market in the years ahead.
A study by Transparency Market Research (TMR) provides a panoramic view of the global expandable graphite market. Hence, this study covers a thorough assessment of growth drivers, growth restraints, R&D, regional analysis, trends, and competitive landscape of the global expandable graphite market.
The improving spending power of several developed and developing nations and the increasing global population has resulted in a rise in construction activities. These factors, in turn, are fueling sales growth in the global expandable graphite market.
The rise in Demand for Cost-effective and Superior Beam Quality Laser Beams Drives Expansion Avenues in Expandable Graphite Market
Expandable graphite finds application in high-powered laser machines intended for cutting and welding. Over the past few years, there has been a surge in the sales of laser beams with cost-effective features and superior beam quality. This factor is creating lucrative prospects in the global expandable graphite market. Besides, the market for expandable graphite is being driven by the expansion of the 3D printing market globally, notes a TMR study.
Expandable graphite is in high demand across varied industrial applications including fuel cells and flow batteries owing to its improved physical properties. This factor is generating revenue-generation opportunities in the global expandable graphite market. Furthermore, a rise in the use of expandable graphite as a key component in different applications such as coatings, batteries, rubber products, plastic foils, energy storage systems, sealing systems, and heating and cooling systems is propelling the expandable graphite market.
Some of the key players operating in the global expandable graphite market include AMG Mining AG, SGL Carbon, Yichang Xincheng Graphite Co., Ltd., Durrans Group, National de Grafite, GrafTech International Ltd., Qingdao Black Dragon Graphite Group, and Qingdao Jinhui Graphite Co. Ltd.
Due to the presence of many players, the competitive landscape of the expandable graphite market seems to be highly intense. This scenario is encouraging market enterprises to utilize different organic and inorganic strategies to stay ahead of the competition. For instance, players in the expandable graphite market are engaging in mergers, acquisitions, partnerships, and collaborations to expand their businesses and enter in newer regions.
Companies in the expandable graphite market are allocating sizable investments in R&D projects to achieve product innovations and technological advancements. Furthermore, players are increasing their focus on new product launches to strengthen their product portfolios. Such efforts are likely to result in the rapid expansion of the global expandable graphite market in the upcoming years.
Rise in Product Demand in Asia Pacific Drives Expansion in Expandable Graphite Market
Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa are some of the key regions of the expandable graphite market. Of them, Asia Pacific seems to be one of the fastest-growing regions. Players are estimated to gain profitable avenues in the Asia Pacific owing to numerous factors such as the rise in the use of expandable graphite in the consumer electronics and building & construction industries of the region. Furthermore, an increase in the demand for expandable graphite products as additives or performance fillers in plastics, adhesives, plasters, and sealants is boosting the growth in the Asia Pacific expandable graphite market.