Sales Of Graphite Coatings Are Projected To Increase At A CAGR Of Over 6% During 2021 – 2031

Posted on 2022-11-02 by Fact.MR in Chemicals // 0 Comments

As per a new report published by Fact.MR, a market research and competitive intelligence provider, the graphite coatings market is expected to surpass a valuation of US$ 660 Mn by 2021, and expand at remarkable CAGR of more than 6% over the forecast period of 2021 to 2031.

During 2016-2020, the market experienced a high surge in demand and projected a growth rate of 5.6%. Fact.MR anticipates significant potential in the market, owing to factors such as increasing application of graphite coatings in batteries & transistors and growing demand for efficient metal coatings in the automotive industry.

The coatings industry especially has observed a major upsurge in valuation owing to rise in demand for low-VOC and high temperature-resistant coatings. This has opened the market space for high-valued coating products, including graphite coatings.

Demand for graphite coatings is rising in the industrial machinery sector due to their great isostatic qualities and ideal homogeneity. Apart from these properties, graphite is also used as a dry lubricant, and its penetration in the automotive industry has been at an all-time high in the past 5 years.

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Key Takeaways from Market Study

The graphite coatings market is anticipated to add 1.8X value by 2031.
Among the end-use industries, the automotive segment has been the fastest-growing, and is anticipated to follow the same trend during the forecast period.
Increased consumption of graphite coatings in the energy industry is anticipated to surge demand for graphite coatings over the coming years.
Dry lubrication application is anticipated to dominate the demand pie over the long-run forecast period.
The U.S. market for graphite coatings is likely to reach a valuation of US$ 250 Mn by 2031.
Asia Pacific captured the market throne in FY2020, and is anticipated to hold the same position over the long-run forecast period.

“High R&D spending to develop weather-friendly and corrosive-resistant coatings to attract investors, aiding market growth over the medium- and long-run forecast period,” says a Fact.MR analyst.

Why is the U.S. an Important Market for Graphite Coatings?

The U.S. remains the foremost contributor to the growth of graphite coating sales. Demand for graphite coatings in the U.S. is anticipated to witness 5.7% CAGR through 2031. The U.S has the presence of prominent automobile companies, which creates plentiful opportunity for graphite coating manufacturers.

Corrosion is the key factor that generates demand for graphite coatings in automobile industries. Addressing this challenge is the need of the hour, since graphite coatings are most likely to repel water droplets due to their structure.

Which End-use Industry Accounts for Highest Demand for Graphite Coatings?

Energy, automotive, and electrical & electronics collectively account for prominent demand for graphite coatings. These segments collectively account for more than 45% of consumption of graphite coatings across the globe.

Graphite coatings are progressively being utilized in a variety of applications, including metal powder sintering, injection moulding, and metal casting, brazing, and welding in automotive industries. Moreover increasing consumption of lithium-ion batteries is anticipated to surge demand for these coatings.

The automotive industry has been a key contributor to growing demand for graphite coatings. This industry has witnessed noteworthy share of 34% in the past few years, since a lot of material handling operations and materials utilization is associated with automobile industries. As such, there will be always high demand for coatings from manufacturing industries for preventing metal bodies from rust and corrosion.

How Has COVID-19 Impacted the Sales of Graphite Coatings?

Natural disasters and pandemics such as COVID-19 are unforeseen, and have affected all economies across the globe. Demand constrained by 8-9% in Q2 and Q3 of 2020.

COVID-19 also resulted in impacting demand for graphite coatings, backed by the imposition of lockdowns and demand drop from automotive industries, display manufacturers and solar cell producers which happen to be the prime consumers of graphite coatings.

Moreover, decreased demand and fluctuating industrial output have negatively impacted the market, which is extremely fragmented in nature. In addition to this, industrial demand will rekindle its previous size by the third quarter of 2021, and so it will surge the demand of graphite coatings during the forecast period.

Although, the automotive sector is more likely to provide a lot of prospects to key players in the global graphite coatings market, the aerospace industry is also set to create the demand from end-use industry by 2023.

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Competitive Landscape

Majority companies discussed in the report have focused on acquisitions, expansion, investments, and portfolio expansion. Ratings of companies are on the basis of market share, market reach, clientele, etc.

Some of the key developments are:

In December 2020, ZEN Graphene Solutions reported that the organization is set to go through a corporate reorganization – a move that is probably going to improve its product portfolio advancement and R&D.
In August 2018, Asbury Carbons declared the acquisition of Process Engineering Corporation (PEC).

Similarly, recent developments related to companies manufacturing graphite coatings have been tracked by the team at Fact.MR, which are available in the full report.

Key Companies Profiled:

Final Advanced Materials
CONDAT Corporation
Elcora Advanced Materials Corp.
Mersen
Van Sickle Paint Mfg. Company
Whitford
Imerys Graphite & Carbon
Asbury Carbons
BECHEM

Market Segments Covered in Graphite Coatings Industry Analysis

By Application

Dry Lubrication
Anti-seize Agents
Release Agents
Others (including thermal conductive agents and anti-corrosion agents)

By End-use Industry

Graphite Coatings forEnergy
Graphite Coatings forAutomotive
Graphite Coatings forMachinery
Graphite Coatings forElectrical and Electronics
Graphite Coatings forTextiles
Graphite Coatings forMedical
Others

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