Trends in the Graphite Coatings Market 2020-2030|Whitford,Asbury Carbons,BECHEM

Trends in the Graphite Coatings Market 2020-2030|Whitford,Asbury Carbons,BECHEM Advancements in Nanotechnology to Drive Demand for Nanomaterials Including Graphite Coatings Over the past decade, graphite coatings have garnered immense popularity as a viable, effective, and high-quality coatings alternative for use in various applications. The automotive sector is expected to provide lucrative opportunities to market players operating in the global & U.S. graphite coatings market during the forecast period. A glaring trend that is likely to attract the interest of investors and other stakeholders operating in the global & U.S. graphite coatings market landscape is the increasing popularity of graphite coatings in comparison with that of ceramic coatings. Research and development activities are anticipated to play a strong role in the development of the global & U.S. graphite coatings market during the assessment period.

The surge in the demand for nanomaterials following advancements made by nanotechnology is one of the major factors propelling the demand for graphite coatings in recent years. While the industrial sector is expected to have a higher market share in terms of demand and value, market players are projected to leverage opportunities in the commercial sector to gain a competitive edge. Moreover, owing to favorable physical as well as functional characteristics of graphite, the demand continues to move in the upward direction.

Graphite coatings are increasingly being used in a range of applications, including metal powder sintering, injection molding, metal casting, brazing, and welding.

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Graphite Coatings Likely to Replace Ceramic Coatings during Assessment Period Although the demand for ceramic coatings in the U.S. has witnessed growth, in the upcoming years, graphite coatings are likely to replace ceramic coatings in a range of applications in various end-use industries. The improved functional parameters of graphite coatings in comparison with ceramic coatings coupled with increasing number of consumer complaints related to water spots linked with ceramic coatings have played an imperative role in boosting the growth of the global & U.S. graphite coatings market. Due to chemical properties and the honeycomb structure, there is a considerably lower risk of water evaporation at the surface and water spots– a factor that is expected to have a strong impact on the growth of the global & U.S. graphite coatings market during the forecast period.

The favorable thermal and electrical conductivity properties of graphite is another factor that has led to a considerable surge in the demand for graphite coatings from the U.S. automotive sector. The ease of application, anti-repellant, and improved conductive properties of graphite in comparison with ceramic is projected to increase the demand for graphite coatings in the upcoming years. According to researchers and a number of scientists around the world,

graphene has emerged as the strongest, thinnest material in the world due to which, graphite coatings have become the go-to protective solutions in recent years.

While the automotive sector is anticipated to provide a number of opportunities to players in the global & U.S. graphite coatings market, the aerospace industry is set to emerge as a prominent end-use industry.

Market Players Focus on Forging Strategic Alliances to Improve Market Position Players operating in the global & U.S. graphite coatings market landscape are expected to rely on organic and inorganic growth strategies to improve their position in the competitive market landscape. A number of companies is also focusing on restructuring their operational procedures and growth strategies in line with the current market landscape. For instance, in December 2020, ZEN Graphene Solutions announced that the company is set to undergo a corporate reorganization– a move that is likely to improve the company’s product development and R&D foundation. Mergers and acquisitions are rife in the global & U.S. graphite coatings market and the trend is set to continue during the forecast period. For instance, in August 2018, Asbury Carbons announced the acquisition of Process Engineering Corporation (PEC).

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Trade Tension and Declining Demand in 2020 to Hinder Market Growth amid COVID-19 Pandemic The onset of the COVID-19 pandemic is expected to have a strong influence on the demand for graphite coatings in 2020. Stringent lockdown measures imposed by governments around the world coupled with the temporary shutdown of industries in the second quarter of 2020 have led to a considerable decline in the demand for graphite coatings. This factor is estimated to hinder the growth of the global & U.S. graphite coatings market. In addition, trade tension between the U.S. and China coupled with the results of the U.S. elections could have a strong impact on the supply chain of raw materials, which, in turn, is anticipated to influence the growth of the global & U.S. graphite coatings market in 2020.

Global & U.S. Graphite Coatings Market: Overview 

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According to Transparency Market Research’s latest research report on the global and U.S. graphite coatings market for the forecast period 2020–2030, rise in usage of graphite coatings in advanced batteries & transistors, automotive, solar cells, displays, sensors, composites, and metal coatings is a key factor that is expected to boost the global and U.S. graphite coatings market during the forecast period In terms of revenue, the global graphite coatings market was valued at US$ 617.4 Mn in 2019 and is anticipated to reach US$ 1 Bn by 2030, expanding at a CAGR of 7.5% during the forecast period. On the other hand, the graphite coatings market in the U.S. is likely to reach US$ 153.1 Mn by 2030.

Increase in Sales of Lithium-ion Batteries and Electric Vehicles: Key Driver 

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Lithium-ion (Li-ion) battery is an advanced battery technology that uses lithium ions as key components of electrochemistry. Lithium-ion batteries can use a number of different materials as electrodes. Widely used combination is that of lithium cobalt oxide (cathode) and graphite (anode). The graphite coated anode enhances the overall operational efficiency.

In July 2019, Toyota invested around US$ 2 Bn in the development of electric vehicles in Indonesia. The Ford Motor Company has also invested more than US$ 1.45 Bn in its two manufacturing facilities in Michigan, the U.S. Tesla, a leading player in the U.S. hybrid electric vehicles (HEVs) industry, plans to increase investments in its manufacturing facility in Shanghai, China; and Fremont, California, the U.S. The strategy to boost the manufacture of new electric cars in the near future is estimated to drive the demand for auto lithium-ion batteries over the next few years.

Demand for batteries is high in the automotive sector, especially in electric vehicles that use rechargeable batteries such as lithium-ion batteries on a large scale. Lithiumion batteries use graphite coated anodes, as they cope well with the flow of lithium ions during the charging and discharging cycle.

Advent of new generation energy-hungry electronic devices, such as digital cameras, camera phones, and high performance portable computing devices, is projected to drive the demand for lithium-ion batteries in the near future. Additionally, sale of electric vehicles has been increasing across the globe. This is likely to boost the consumption of graphite coatings, thereby driving the graphite coatings market.

Rise in demand for fuel-efficient, lightweight, and high-performance vehicles with low emissions in the U.S. is expected to drive the demand for batteries in the country in the near future Thus, increase in consumption of lithium-ion batteries is anticipated to boost the demand for graphite coatings during the forecast period

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Graphite coatings offer optimal resistance at high temperatures and in highly corrosive environments. Heat losses are minimalized, while thermal conduction is optimized. Graphite coatings are also used for lubrication of metal, plastics, or rubber parts without using grease.

Demand for graphite coatings is rising in the industrial machining sector due to its excellent isostatic qualities and ideal homogeneity. Graphite coatings do not absorb moisture. Graphite coatings also do not deform, burst, or shrink due to thermal stress.

Graphite coatings are applied on pistons, gears, and various other engine components as dry lubricants to reduce friction.

Graphite is a mineral and a form of pure carbon. It is highly conductive; hence, it is primarily used in making conductive materials. Graphite powder is used as a highly effective conductive filler. Conductive graphite coatings can be used in cellphones, tablets, computers, television screens, and other displays. Graphite coatings can also serve as protective coatings with superior chemical, moisture, corrosion, UV, and fire resistance properties.