Graphite Recycling Market Research, 2031
The global graphite recycling market was valued at $45.3 million in 2021, and is projected to reach $110.2 million by 2031, growing at a CAGR of 9.3% from 2022 to 2031.
Graphite recycling is a process of recycling or recovering graphite from various sources such as lithium-ion batteries, electrodes, motors & crucibles, lubricants, foundry facings, arc lamps, core of nuclear reactors, and others. The spent graphite (SG) is combined with sulfuric acid curing, leaching, and calcination processes to recover or recycle graphite through graphitization, refining, and separation processes.
The growth of the global graphite recycling market is driven by rapid technological advancements coupled with the emergence of artificial intelligence (AI), internet of things (IOT) and machine learning (ML) technologies which in turn have surged the demand for semiconductors used for manufacturing various kinds of electronic devices, including diodes, transistors, and integrated circuits. Recycled graphite exhibits excellent chemical, thermal stability as well as biocompatibility and can achieve semiconductor-type electrical properties. This may act as one of the key drivers responsible for the growth of the graphite recycling market.
Increase in demand for consumer electronics has surged the popularity of electrochemical applications where recycled graphite is widely used as electrodes.
For instance, according to a report published by National Investment Promotion and Facilitation Agency, the export of electronic devices of India is set to increase from $10 billion in 2021 to $120 billion by 2026. This may enhance the demand for recycled graphite used for electrochemical applications in the growing electronics sector; and thus boost the market growth.
However, trade tension between the U.S. and China has increased due to the wake of the COVID-19 pandemic. The trade relations between these two countries were critical amid the pandemic period. Also, several other countries such as India, Japan, Taiwan, and others have increased tariffs on imported goods from China, which is the largest producer of recycled graphite. This factor has hampered the growth of the graphite recycling market.
On the contrary, factors such as attractive government policies for supporting emission vehicles and growth in demand for low emission commuting coupled with rise in awareness for sustainable activities, have led the electric vehicle sales to witness a significant increase. For instance, according to an article published by The Times of India in July 2022, India has reached around 5 crore electric vehicles sales in 2031. This factor has led the car battery manufacturing companies to enhance their production capacities where recycled graphite is widely used to produce anode material for various batteries. This may increase the demand for recycle graphite in the growing battery manufacturing sector; thus, creating opportunities for the graphite recycling market.
The graphite recycling market is segmented into source, form, application, and region. On the basis of source, the market is categorized into lithium-ion batteries, electrodes, motor brushes and crucibles, and others. On the basis of form, the market is bifurcated into solid chunks and powders. On the basis of application, it is divided into metal casting, batteries, lubricants, nuclear reactors, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Lithium-ion Batteries is the most lucrative segment
By Source
In 2021, the lithium-ion batteries segment was the largest revenue generator and is anticipated to grow at a CAGR of 9.7% during the forecast period. The significant growth of spent-lithium-ion batteries among various end use sectors has made graphite recycling more appealing and environmentally significant. This is the major factor which contributes to the growth of the graphite recycling market from lithium-ion batteries. Furthermore, lithium-ion batteries contain solid carbon (spent graphite) in crystalline form that is easy to extract as compared to other battery types. This factor has attracted recycled graphite producers towards using lithium-ion batteries for graphite extraction purposes.
Solid Chunks is projected as the fastest growing segment
By Form
The solid chunks segment of graphite recycling market is projected to grow at the highest CAGR during the forecast period. The increase in technological advancements in electrical & electronics sector has surged the need for replacement of conventional equipment and devices with modern devices equipped with advanced features. This has surged the accumulation of electronic waste (e-waste) that attracts graphite recycling manufacturers to recover graphite materials from the conventional electronic devices and gadgets. This factor may ease the availability of solid chunk graphite materials from e-waste that is further used for graphite recycling applications.
In addition, the increase in digitalization and adoption of Industry 4.0 automation programs among various manufacturing sectors has surged the demand for various electrical & electronic devices where recycled solid graphite chunks are used for producing thermal insulators, heat resistant electrical circuit boards, and others. This factor is expected to boost the growth of the graphite recycling market for solid chunks during the forecast period.
Batteries hold a dominant position in 2021
By Application
The batteries graphite recycling market size is projected to grow at the highest CAGR during the forecast period. The increase in customer awareness for sustainable mode of commute has surged the sales of electric vehicles where recycled graphite is widely used as a positive anode material in batteries of electric vehicles. For instance, according to a report published by India Brand Equity Foundation in March 2022, the electric vehicles accounted for a global share of 8.3% of the total automobile sales in 2021. This factor may boost the growth of the graphite recycling market for batteries application.
In addition, the ongoing innovations in the field of material sciences have enabled manufacturers to improve the performance of lithium-ion batteries wherein recycled graphite is used for producing positive anode materials. This factor may further aid the growth of the graphite recycling market for batteries applications during the forecast period. Lubricants was the second-largest contributor in terms of revenue in the global graphite recycling products market in 2021 and is anticipated to grow at a CAGR of 9.4% during the forecast period.
The increase in population coupled with rise in demand for a wide range of consumer goods has led the transportation sector to witness a significant growth where recycled graphite is widely used as a dry lubricant in heavy transport vehicles owing to its maintenance-free nature. This may act as one of the key drivers responsible for the growth of the graphite recycling market for lubricants applications. In addition, rapid industrialization in both developed and developing economies such as the U.S., China, India, and others have surged the demand for recycled graphite for use as a dry lubricant in various industrial machines. This factor may further boost the growth of the graphite recycling market for lubricants applications.
Asia-Pacific would exhibit highest CAGR of 10.0% during 2021-2031.
By Region
The Asia-Pacific graphite recycling market size is projected to grow at the highest CAGR during the forecast period. The rise in use of recycled graphite to manufacture coated steel and iron casting drives the growth of the graphite recycling market. The growth of the graphite recycling market in Asia-Pacific is majorly driven by the largest economies such as India and China and this is attributed to rise in the steel industry, electronics, and the automotive market in the Asia-Pacific region.
There is a rapid increase of the electronic sector in China which has forced the graphite recycling manufacturers to produce high-quality recycled graphite in the region. According to a report published by the United Nations Statistics Division, China witnessed around 28.7% of the global manufacturing output for consumer electronic products in 2019. In addition, countries such as Japan and Taiwan have a large electronics industry base and consumer electronics appliances industry which in turn may boost the performance of graphite recycling market in the Asia-Pacific region.
North America was the second-largest contributor in terms of revenue in the global graphite recycling products market in 2021 and is anticipated to grow at a CAGR of 9.1% during the forecast period. North America is the prominent consumer of recycled graphite owing to increase in demand for recycled graphite from applications such as lubrication, as anti-seize agents, metal casting, anode material for batteries, and others that drives the growth of the graphite recycling market in this region. Furthermore, there is rapid increase in consumer electronics segment in the U.S. which in turn has increased the demand for recycled graphite-based semiconductors used for producing diodes and integrated circuits. For instance, according to a report published by Consumer Technology Association (CTA), the consumer electronics industry has reached $461 billion with a 4.3% annual increase in 2021.
"The U.S. imports recycled graphite largely from graphite producing countries such as China, Canada, Mexico, Brazil, and others. There is an increase in the demand for recycled graphite owing to rise in metal coating and manufacturing applications in the region. Recycled graphite is used largely in the U.S. in the applications such as brake linings, lubricants, foundry operations, refractory, powdered metals, and others. Furthermore, rise in demand from the automotive manufacturers, steel making, and other applications increases the demand for recycled graphite, which may further contribute to the growth of the graphite recycling market during the forecast period."
The leading players operating in the global graphite recycling market includes, Architonic, Ascend Elements, Inc., Coidan Graphite, Duesenfeld, Elemental Recycling, Graphite Sales, Inc., Lab4 Inc., Semco Carbon, Weaver Industries, and Inc., X-BATT. The report also covers profiles of key innovators such as EcoGraf and Graphite One Inc. that are actively engaged in innovating and developing new methods for graphite recycling. The global graphite recycling market report provides in-depth competitive analysis as well as profiles of these major players.
IMPACT OF COVID-19 ON THE GLOBAL GRAPHITE RECYCLING MARKET
The graphite recycling market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on battery manufacturing, power sector, transportation, and other end-use sectors. However, emerging geographical scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of graphite recycling market in the near future. Moreover, rise in awareness for using sustainable mode of commute has surged the popularity of electric vehicles post COVID-19 pandemic where recycled graphite is widely used as positive anode material in batteries of electric vehicles. This is predicted to enhance the performance of graphite recycling market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the graphite recycling market analysis from 2021 to 2031 to identify the prevailing graphite recycling market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the graphite recycling market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global graphite recycling market trends, key players, market segments, application areas, and market growth strategies.
Graphite Recycling Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 110.2 million |
 Growth Rate | CAGR of 9.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 317 |
 By Source |
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 By Form |
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 By Application |
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 By Region |
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 Key Market Players | ECOGRAF, Lab4 Inc., Architonic, Graphite Sales, Inc., Semco Carbon, Graphite One Inc., Duesenfeld, Ascend Elements, Inc., Elemental Recycling, X-BATT, Coidan Graphite, Weaver Industries, Inc. |
Analyst Review
The global graphite recycling market is predicted to witness significant growth in the upcoming years. This is attributed to rise in use of recycled graphite in end use such as power, lubrication, transportation, electric vehicles, and electronic. In addition, mainstream applications of graphite recycling such as lubrication of metal, metal casting, anti-seize agent, release agent, and dry lubrication of materials propel the growth of the market. Key players opt for product innovations as their developmental strategies to strengthen their foothold in the competitive market and build sector expertise.
Electric vehicle batteries sector is predicted to dominate the global graphite recycling market during the forecast period, due to upsurge in the use of recycled graphite as a positive anode material in automotive batteries. In addition, recycled graphite is used on steel and iron tools which in turn helps to control the seizure between tool and work piece and can enhance the life of a metal-forming die. Furthermore, the use of recycle graphite materials in metal casting industry is a win-win proposition both metal casting manufacturers and its clients owing to the fact that recycled graphite are available at cheaper rates as compared to original graphite materials. This factor has surged the popularity of recycled graphite among metallurgical sectors. CXOs further added that sustained economic growth and rise in transportation activities have increased the popularity of recycled graphite as dry lubricants.
High demand of recycled graphite from transportation sector, increase in demand for semiconductors, rise in preference for recycled graphite, and increase in electrochemical applications are the upcoming trends of graphite recycling market in the world.
The batteries application segment is the largest revenue generator and is projected to grow at the highest CAGR during the forecast period.
Asia-Pacific is the largest regional market for graphite recycling and is projected to grow at the highest CAGR during the forecast period.
The global graphite recycling market was valued at $45.3 million in 2021, and is projected to reach $110.2 million by 2031, growing at a CAGR of 9.3% from 2022 to 2031.
The leading players that hold the global graphite recycling market share includes, Architonic, Ascend Elements, Inc., Coidan Graphite, Duesenfeld, Elemental Recycling, Graphite Sales, Inc., Lab4 Inc., Semco Carbon, Weaver Industries, and Inc., X-BATT.
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