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Spherical Graphite Market Size Forecasted to Reach Valuation of USD 9,598.8 Million by 2027

By Biswas Debanjan

Posted on December 27, 2021

The Global Spherical Graphite Market is expected to be valued at USD 9,598.8 Million in 2027 from USD 2,435.8 Million in 2019, registering a CAGR of 18.6% through the estimated period. The industry is experiencing a stellar growth attributed to the increasing demand for varied products in consumer electronics. Popular by the name of battery-grade graphite, spherical graphite finds extensive usage in the consumption as anode of lithium-ion batteries. An elevating need for various smart devices including laptops, smartphones, and various other electronic devices is creating a requirement for lithium-ion batteries, due to its better durability and high energy density.

Furthermore, the industry for lithium-ion batteries is accelerated by the increasing demand for hybrid and electric vehicles, making high use of different types of lithium-ion batteries, triggering demand for spherical graphite.

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Key Highlights from Report

In September 2020, the leading firm, Imerys announced regarding the expansion of its Bodio manufacturing facility’s capacity, Switzerland, for synthetic graphite production. This decision was intended to cater to the lithium-ion battery producers’ escalating demand in the regions like North America, Asia, and Europe.
Natural flake graphite holds the capability for disrupting the synthetic graphite usage as the crucial raw material for producing a wide range of spherical graphite. This is because of the significant cost benefits come from the use of natural flake graphite to aid battery manufacturers in decreasing the overall cost of manufacturing of lithium-ion batteries.
In terms of production, the nation—China led the global industry for spherical graphite.
The European market is witnessing an enormous demand due to the rapid adoption of hybrid electric vehicles and electric vehicles, and growing demand for different types of consumer electronics products.
Leading players in the industry are Imerys Graphite & Carbon, Black Rock Mining, Qingdao Black Dragon Graphite Group, Yingkou, Qingdao Yanxin Graphite Products Company Limited, Jixi BTR Graphite Industrial Park Co., Ltd. Botian Material Technology Limited Company, Focus Graphite Inc., Battery Minerals Limited, Aoyu Graphite Group, and Syrah Resources Limited.