Graphite Coatings Market Size/Share Cap Estimated to Reach Around USD 1.40 Billion By 2032, at 7.3% CAGR Growth: Polaris Market Research
NEW YORK, Sept. 28, 2023
NEW YORK, Sept. 28, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Graphite Coatings Market Share, Size, Trends, Industry Analysis Report, By Application (Lubrication, Anti-Seize Agent, Release Agent, and Others); By End Use; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.
"According to research report, the global graphite coatings market size/share was valued at USD 694.02 Million in 2022 and is expected to touch USD 1.40 Billion By 2032, growing at a CAGR of 7.3% during the forecast period."
Graphite Coatings Market: Report Overview
Graphite coatings are typically made to provide a thin layer or coating of graphite for high-temperature applications. Graphite is a form of carbon which has unique properties, making it useful for different applications. Its particle size and binder system provide maximum protection against galling, soldering and seizing. Graphite has lubricating properties, heat-resistant, corrosion resistance, Ultra-long durability, and antistatic properties.
Mechanical mixing and coating by solvent are two main methods of graphite coating. Coatings made of graphite are a considerably tougher, more durable choice. They offer far superior protection against scratches and can last anywhere from six months to four years or longer. Graphite coatings find applications across industries, including aerospace, automotive, electronics, manufacturing, oil and gas, textiles, and food processing. Growing popularity of graphite coatings compared to ceramic coatings is driving the graphite coatings market size growth.
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Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Request.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
- Includes Updated List of table & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Covered Are:
- Asbury Carbons
- CONDAT Corporation
- Elcora Advanced Materials Corp.
- Final Advanced Materials
- Focus Graphite
- Graphite India
- Hexagon Energy Materials Limited
- Imerys Graphite & Carbon
- NextSource Materials
- SGL Carbon
- Tokai Carbon Co. Ltd.
- Toyo Tanso
- Triton Materials
- Van Sickle Paint
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Graphite Coatings Market Report Highlights
- Lubrication segment accounted for largest market share in 2022, which is mainly driven by its significant use across industries because of its capabilities to reduce friction and enhance surface rollover.
- Automotive segment held the majority market revenue share in 2022, on account of increasing number of automobile production and surge in the sales leading to higher product adoption to provide corrosion and wear resistance.
- The Asia Pacific region led the industry market with considerable market share in 2022, owing to continuous expansion of automotive and consumer electronics sectors and utilization in lithium-ion batteries.
Prominent Growth Driving Factors
- Demand for graphite coatings: Leading market companies are focusing on introducing graphite coatings with enhanced and improved functional properties compared to traditional ceramic coatings, which is propelling the market growth. Such advanced graphite coatings have the ability to work at very high temperatures for extended periods of time in comparison to many other bearing and seal materials on the market, which is quite difficult or difficult to obtain in typical ceramic coatings. These characteristics make them a suitable option to be used in different application, which is fueling the graphite coatings market growth.
- Popularity for graphite coatings: Rising popularity and penetration of these coatings worldwide owing to its number of properties such as electrical conductivity, anti-repellant characteristics, ease of application is boosting the graphite coatings market growth.
- Government standards: Favorable government policies and a rising shift towards environment-friendly coatings have encouraged sectors to look for alternatives to traditional solvent-based coatings which has led to increasing demand for coatings with their lower volatile organic compound content and less environmental impact. This is one of the major factors enhancing the market growth.
- Demand from different industries: Increasing product demand from different end-use industries such as aerospace, metal processing, energy, and electronics is boosting the industry expansion.
- Recent Trends Influencing the Market
- Demand for corrosion-resistant coatings: Global demand for corrosion-resistant coatings is rising steadily in order to lengthen the life of infrastructure and equipment, which is accelerating the market growth.
- Adoption of protective and advanced coatings: Rapid industrialization and infrastructure development, particularly in developing nations like China, India, Indonesia, and South Korea, has increased demand for protective and advanced coatings. This is expected to push the graphite coatings market sales over the forecast period.
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- Lubrication segment held the largest graphite coatings market share in 2022
By Application, lubrication category dominated the market due to its widespread use in a variety of industries, including space & aviation, railway, automotive, and medical, among others, because it can minimize friction, enhance surface rollover characteristics, and wear compressibility. Also, rising ongoing developments in nanotechnology have led to the development of improved graphite coatings with enhanced lubricating properties. These advanced coatings provide greater performance in terms of decreased friction, improved wear resistance, and extended lubrication intervals, which has a significant impact on the segment's growth.
- Automotive segment witnessed a significant market share in 2022
Based on end-use graphite coatings market segmentation, the automotive sector captured the maximum revenue share in 2022, which can be attributed to various beneficial features and characteristics graphite coatings offer to the automotive sector, including corrosion protection, lubrication and wear resistance, fuel efficiency, and efficient thermal management leading to higher product adoption. In addition to being solvent-free and containing little to no volatile organic compounds (VOCs), graphite coatings also provide a visually appealing finish to a variety of automotive components, such as wheels, trim, and interior parts. This, combined with the fact that they have a minimal negative impact on air quality and human health, is what is driving the market's expansion.
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- Asia Pacific accounted for the largest market share in 2022
Based on geography, the graphite coatings market in Asia Pacific held a major revenue share in 2022 and is anticipated to retain its dominance during the foreseen period. This growth can be attributed to the rise in the production of steel and various types of consumer electronics coupled with the growth of the automotive industry, as an increasing number of consumers adopt automobiles with advanced coatings and properties. Further, the growing use of graphite coatings in lithium-ion batteries, which are widely used in electric vehicles, renewable energy storage, and consumer electronics, is enhancing the graphite coatings market demand in the region.
Moreover, the North American region is expected to show the fastest growth with a high CAGR during the predicted period owing to the increasing trend, primarily in the US and Canada, of moving towards electric cars to lessen the reliance on fossil fuels and reduce carbon emissions along with the increasing number of infrastructure development and construction projects like commercial buildings, tunnels, pipelines, and bridges.
Browse the Detail Report "Graphite Coatings Market Share, Size, Trends, Industry Analysis Report, By Application (Lubrication, Anti-Seize Agent, Release Agent, and Others); By End Use; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/graphite-coatings-market
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- In February 2023, Heubach Group revealed that the company is launching a new range of products and tools at ECS in Nuremberg. The company also announced the launch of Hostatint UV 100, a new reformulated and reimagined range of preparations mainly developed for radiation-cured coatings.
- In August 2022, SGL Carbon announced the expansion of the production capacities of graphite products for semiconductor industry, as part of their investment budget. The graphite production expansion plan will take place in various steps over the next two coming years at Chinese site in Shanghai and further expansion is being planned at various other locations.
Polaris Market Research has segmented the graphite coatings market report based on application, end use, and region:
By Application Outlook
- Anti-Seize Agent
- Release Agent
By End Use Outlook
- Electrical & Electronics
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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SOURCE Polaris Market Research