Global & U.S. Graphite Coatings Market: Introduction
Transparency Market Research delivers key insights on the global & U.S. graphite coatings market. In terms of revenue, the global graphite coatings market is estimated to expand at a CAGR of 7.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global graphite coatings market.
The global & U.S. graphite coatings market is broadly affected by several factors, including increase in demand for graphite coatings in the automotive sector and rise in usage of graphite coatings in the electronics sector. Thus, rise in usage of graphite coatings in different sectors is propelling the global & U.S. graphite coatings market. Graphite coatings are essential in environments where there is a need to reduce reactivity and permeability of a part toward oxygen, as it could lead to oxidation. This is anticipated to propel the demand for graphite coatings in the automotive industry.
Global & U.S. Graphite Coatings Market: Dynamics
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. Graphite coatings offer optimal resistance at high temperatures and in highly corrosive environments. The 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.
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In terms of end-use industry, the global & U.S. graphite coatings market has been segmented into advanced batteries & transistors, automotive, solar cells, displays, sensors, composites, metal coatings, and others. The automotive end user segment is expected to dominate the global & U.S. graphite coatings market during the forecast period. Graphite coatings are dominantly used in automotive parts such as piston, gear, fasteners, and other engine components in high temperature conditions. The automotive segment accounted for more than 30% share of the global graphite coatings market in 2019. The segment is expected to expand at a CAGR of 4.5% in terms of value between 2022 and 2030. Growth in digitization, urbanization, and automation has led to an increase in the number of Internet users across the globe. The use of smart TVs, tablets, smartphones, smart devices, and IoT connected devices has also increased substantially. These factors are likely to boost the demand for graphite coatings in the electronics industry.
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Global & U.S. Graphite Coatings Market: Prominent Geography
The global & U.S. graphite coatings market is expected to be expand at a significant pace during the forecast period, owing to the presence of rapidly expanding end-use industries and technological advancements. The graphite coatings market in the U.S. is anticipated to expand at a CAGR of 7% between 2022 and 2030. The U.S. Government’s step to encourage domestic semiconductor manufacturing is likely to drive the graphite coatings market during the forecast period. Graphite coating honeycomb structure, excellent chemical properties, and high water contact angle are projected to drive its demand in the automotive industry. Rise in sale of automotive in the U.S. is expected to boost the demand for graphite coatings across the country. The advanced batteries & transistors segment in the U.S. is anticipated to expand at a CAGR of 18.3% between 2022 and 2030. The expansion of the segment can be ascribed to the rise in production of batteries for use in electric vehicles.
Global & U.S. Graphite Coatings Market: Major Market Players
Prominent players operating in global graphite coatings market are Final Advanced Materials, CONDAT Corporation, Elcora Advanced Materials Corp., Mersen, Van Sickle Paint Mfg. Company, Whitford, Imerys Graphite & Carbon, Asbury Carbons, and BECHEM. These players are adopting inorganic and organic growth strategies such as joint ventures, mergers & acquisitions, expansions, collaborations, new product launches, strategic alliances, and research & development activities to increase their regional presence and business operations.
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