EXTRUDED GRAPHITE MARKET ANALYSIS

Extruded Graphite MarketSize and Trends

Market Dynamics

Extruded graphite is economical to produce and is used in various applications. For instance, electrodes made with extruded graphite, are used in electric arc steel production. Extruded graphite is also used in the manufacturing of various hot zone parts, used in the furnaces such as heating elements, rails, shelves, plates, and fasteners. Owing to its high temperature stability and chemical resistant properties, extrude graphite is extensively used in the chemicals industry. It is used in various corrosive applications such as vessel linings, bricks, tiles, heat exchangers, wear plates, and bearing among others. Thus, the wide applicability of extruded graphite is a major factor propelling growth of the global extruded graphite market.

Extrusion process is used to produce larger particle size (around 0.45 inch), as compared to the isotactic graphite (4-10 micron). The production of very fine isostatically molded graphite involves additional steps to mill the raw material to fine powder thus, taking longer to manufacture than extruded graphite. Additionally, the manufacturing cost of extruded graphite is about half the cost of the isostatically molded graphite. Thus, the economical production of extruded graphite is another factor, supporting growth of the global extruded graphite market.

Market Outlook

In terms of revenue, Asia Pacific is expected to be the fastest-growing market for graphite during the forecast period. Rapid industrialization in the emerging economies such as China and India is fuelling the demand for graphite in the region. This in turn, is expected to boost growth of the extruded graphite market in Asia Pacific.

According to the United States Geological Survey (USGS), in 2013, China contributed 50% of the global consumption of graphite, accounting for the world’s largest consumer for graphite. In China, graphite is majorly used in manufacturing of steel metallurgy and refractory materials, and other applications include foundry and forging graphite.

In 2013, according to CSGS, China recorded highest production of graphite, worldwide. Owing to the high production of graphite in the country, China also exports graphite worldwide. In terms of volume (Tons), China accounted for 80% of total world graphite exports in 2014, and the major exporting countries were Japan, Germany, United States and the Republic of Korea, according to USGS.

Further, according to the data provided by the Indian Bureau of Mines, Government of India, the total consumption of graphite in India has been increased from 40,700 tonnes during 2010-2011 to 52,700 tonnes during 2012-2013. In 2013, out of the total consumption of graphite in India, refractory industry accounted for 7,300 tonnes and foundry industry accounted for 1,000 tonnes, according to the Indian Bureau of Mines, Government of India.