FLAKE GRAPHITE MARKET ANALYSIS
Market Dynamics
Flake graphite is used in anodes of lithium ion batteries, which are used in electric vehicles. Growing demand for electric vehicles market is driving growth of the global flake graphite market. According to International Energy Association, number of electric cars sold in 2016, was 750 thousand, worldwide. Moreover, China was the largest electric cars market in 2016, and accounted for over 40% of the electric cars sold, globally.
Flake graphite is used in energy application such as fuel cells, vanadium-redox battery technology, and pebble-bed nuclear reactors. Growing energy industry is propelling growth of the flake graphite market, owing to flake graphite’s wide applications. According to the U.S. Energy Information Administration, world energy consumption was 575 quadrillion British thermal units (Btu) in 2015, which is estimated to reach 736 quadrillion Btu in 2040.
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