- Increase in use in elevated temperature applications and lubrication of metal, rubber, and plastic products drive the growth of the global graphite coating market.
PORTLAND, Ore., April 19, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Graphite Coatings Market Application (Lubrication, Anti-seize Agent, Release Agent, and Other) and End-Use (Automotive, Display & Sensors, Metal Coatings, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027". As per the report, the global graphite coatings industry was pegged at $0.6 billion in 2019, and is projected to reach $0.9 billion by 2027, growing at a CAGR of 6.82% from 2020 to 2027.
Major determinants of the market growth
Increase in use in elevated temperature applications and lubrication of metal, rubber, and plastic products drives the growth of the global graphite coatings market. However, health hazards regarding the inhalation of graphite coatings hinder the market growth. On the contrary, advancements in the technology of graphite coatings are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic presented unprecedented challenges in front of major consumers of graphic coatings including the automotive, electronics, and aerospace sectors. In addition, the reduced demand for passenger vehicles negatively affected the graphic coatings market.
- The pandemic and tariff war between China and the U.S. forced the relocation of several market players involved in the manufacturing of display and sensors, which are the prime end-users of graphic coatings.
- Moreover, the prolonged lockdown across several regions and travel restrictions resulted in disruption of the supply chain.
The lubrication segment held the largest share
By application, the lubrication segment held the largest share in 2019, accounting for nearly two-fifths of the global graphite coatings market. Moreover, the segment to manifest the highest CAGR of 7.2% during the forecast period, as graphite coating can strongly bond with the surface of an object and offers enhanced shearing stress under the frictional force, making it effective to be used as lubrication in moving parts. The report includes a detailed analysis of segments such as anti-seize agent, release agent, and others.
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The automotive segment to portray the highest CAGR through 2027
By end use, the automotive segment would showcase the highest CAGR of 7.2% from 2020 to 2027. In addition, the segment dominated the market in terms of revenue in 2019, contributing to more than one-third of the global graphite coatings market, due to rise in use of flock adhesives for the manufacturing of glove boxes, sun visors, headrests, and others. The report provides an in-depth analysis of segments including displays & sensors, metal coating, and others.
Asia-Pacific, followed by Europe and North America, contributed the highest share
By region, Asia-Pacific, followed by Europe and North America, held the largest share in 2019, accounting for more than half of the market. Moreover, the global graphite coatings market across Asia-Pacific is projected to manifest thehighest CAGR of 7.9% from 2020 to 2027, due to rise in a number of automotive and textile manufacturers in China and India.
Key Market Players
- Asbury Carbons
- Imerys Graphite & Carbon
- Elcora Advanced Materials Corp.
- Mersen
- CONDAT Corporation
- Triton Minerals
- Van Sickle Paint Mfg. Company
- Whitford
- BECHEM
- Final Advanced Materials
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