Graphite is a crystalline form of elemental carbon in which the carbon atoms are arranged in a hexagonal structure. Graphite is the most stable form of carbon under standard conditions. It is also an excellent conductor of both electricity and heat. High Purity Graphite is the graphite with the highest carbon content. It has a carbon content of more than 99.99%.
High Purity Graphite is known for its compact structure and characteristics like high intensity, resistance to high temperature and vibration, low electrical resistivity, and good inoxidizability. Owing to such characteristics, it has found applications in several industry verticals including electronics, metallurgy, aviation, chemical, and atomic and nuclear energy.
One important usage of High Purity Graphite is in the production of Li-ion batteries. Li-ion batteries are a type of rechargeable battery widely used in electronics and electric vehicles. With the increasing demand for Li-ion batteries, the global High Purity Graphite market is expected to receive a major boost.
In 2018, the High Purity Graphite market was valued at USD 7,499.6 million and in terms of volume, the market was 361.1 Kilo Tons (KT) in the same year. In the coming years, the High Purity Graphite market is expected to grow at a significant CAGR.
High purity carbon is commonly used in products like motors, gaskets, cylinder heads, disk brake linings & pads, clutch materials, and exhaust systems. In these products, High Purity Graphite is used as a core material and therefore, an increase in demand for these products will translate into an increase in demand for High Purity Graphite as well.
The growth of the global High Purity Graphite market will also be driven by the growing sales of Li-ion batteries due to increasing sales of electronics and electric cars. Further, the market will get a major impetus from the increasing production of motor vehicles and growth of the residential construction industry.