Graphite Sheet Market Size, Share, Growth, and Global Industry Analysis by Type (Natural Graphite Sheet and Synthetic Graphite Sheet), By Application (Laptop, LED Lighting, Flat Panel Displays, Digital Cameras, Phone, and Others), Regional Insights, and Forecast To 2031

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GRAPHITE SHEET MARKET REPORT OVERVIEW

The global graphite sheet market size was valued at USD 3.29 billion in 2023 and is projected to touch USD 5.38 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period. Asia-Pacific holds leading position in graphite sheet market share in 2023.

Graphite sheet has a layered structure that makes it exceptionally lightweight and has a carbon-based substance. As they are flexible, it is delivered to consumers rolled or folded. These characteristics make it perfect for a variety of industrial uses, including electronics like LED lights, cameras, and other devices, the aerospace industry, and the building sector, among others.

The rising demand from the electronics and automotive industries is responsible for the expansion of this industry. The global graphite sheet market is expanding due to the growing use of nanocomposite graphite sheets in numerous applications.

COVID-19 Impact: Halt on Electronics Industry to Impede Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the graphite sheet market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the graphite sheet market growth and demand returning to pre-pandemic levels once the pandemic is over.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future. Due to the COVID-19 pandemic's lockdown measures, the market faced challenges due to the COVID-19 epidemic. Key end-user industries like electronics, metallurgy, and automotive (including electric cars) had decreased demand. Additionally, due to a slowdown in logistics and a lack of workers around the world, the production of electronics parts was stopped.

LATEST TRENDS

"Increasing Adoption from Various Application to Support Market Development"

The increasing demand from end-use industries is primarily responsible for the graphite sheet market's rise. The market is also being driven by technological developments and a greater understanding of the advantages. The demand has grown significantly over time due to the creation of several uses, including electrodes and refractories. In addition to the graphite sheet market growth factors, technological developments in the production of steel using electric arc furnaces (EAF) have significantly influenced the graphite industry's trajectory to its current favorable state. Furthermore, it is anticipated that this industry would expand in the coming years due to the surge in demand for electric vehicles.

GRAPHITE SHEET MARKET SEGMENTATION

• By Type

Based on type; the market is divided into Natural Graphite Sheet and Synthetic Graphite Sheet.

Synthetic graphite sheet is the leading segment in the global market. Fine synthetic graphite particles make into a sheet of man-made substance known as synthetic graphite. It is manufactured in a lab yet has the same qualities as natural graphite. Numerous products, such as laptops, LED lighting, flat panel displays, digital cameras, and phones, use synthetic graphite sheets.

• By Application

Based on application; the market is divided into Laptop, LED Lighting, Flat Panel Displays, Digital Cameras, Phone, and Others.

LED lighting is the leading segment in the global market. The usage of graphite sheets as a thermally conductive material is common in LED lighting technology. This graphite is particularly effective at transferring the heat produced by the LED lights to the housings of light fixtures, which lowers total costs and enables smaller systems that are simple to build using common manufacturing processes like reflow soldering.

DRIVING FACTORS

"Heavy Demand from Steel Industry to Assist Product Demand"

Demand for graphite is anticipated to rise as steel production utilizing the electric arc furnace technology increases. Natural graphite is used to make crucibles and mag-carbon bricks in refractories. Additionally, steel converters and electric arc furnaces use graphite as a lining material. In continuous casting ware, including nozzles and troughs, for steel molding applications, several alumina-graphite forms are employed. The demand for graphite is anticipated to rise due to the rapidly expanding use of steel.

"Technological Advancements to Inflate Market Growth"

Utilizing advanced green technology to raise the value of the graphite market and engaging in merger and acquisition activity increases competitors' prospects to expand their markets and take the top spot in the graphite market these years. The usage of graphite in the aerospace sector increases the benefits of using lightweight structural components that improve fuel efficiency. Its strong strength-to-weight ratio increases market share prospects. Growth of the industries producing refractories, where graphite is a key ingredient, production of batteries employing cutting-edge technology, and expanding need for battery storage. As demand for graphite increases, more chances for industry expansion arise.

RESTRAINING FACTORS

"Export Market to Hamper Product Demand"

According to graphite market trends, high tolerance, its stiffness, and strength become the most difficult factors. The most difficult issue for the industry is expanding the graphite export market in the Chinese regions. Utilizing improved lubrication technology, an increase in the demand for steel, and the closure of graphite mines for a few years to reduce production all pose major challenges to the industries.

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GRAPHITE SHEET MARKET REGIONAL INSIGHTS

"Increasing Demand from Various Industries to Lead Market in Asia Pacific "

Asia Pacific holds the largest part of the global graphite sheet market share. In terms of consumption and production capacity, China dominates the world market for graphite, mostly as a result of the huge demand from rapidly growing industries including lithium-ion battery manufacturing, electronics, steel production, the solar industry, and the nuclear industry.

North America is anticipated to have a sizable market share. Companies in the region are constructing an integrated graphite supply chain in response to the expanding demand for graphite anodes in the battery sector. The use of graphite is anticipated to increase in these sectors as investments in e-mobility and battery grid storage increase. In addition, it's expected that conventional end uses like steelmaking and refractories will continue to have a need during the forecast period.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The top five producers of both natural and synthetic graphite account for a sizable portion of the market in their respective domains, indicating that the graphite market is partially concentrated. The graphite sheet market is fragmented, although there are certain significant players who focus on producing particular graphite product types for particular end-user sectors.

Industry Development

• January 2020: In order to advance furnace technology, Novonix Limited and Harper International Corporation created strategic alliances in 2020. The cutting-edge technology will help Novonix's synthetic graphite production process.

LIST OF TOP GRAPHITE SHEET COMPANIES

• GrafTech (U.S.)
• Panasonic (Japan)
• TOYO TANSO (Japan)
• Kaneka (Japan)
• T-Global (U.S.)
• Teadit (U.S.)
• Lodestar (India)
• Tanyuan (China)
• Saintyear (U.S.)
• Dasen (China)
• HFC (India)
• FDR (U.S.)
• Sidike (China)
• Beichuan Precision (China)
• Zhong Yi (China)
• ChenXin (China)
• Jones Tech (China)