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The pure vein graphite is found in Sri Lanka, is a light grey color crystal and naturally occurring form of pyrolitic carbon. It is also called lump or Ceylon graphite. The vein graphite has a morphology that ranges from lumps or grains for very coarse particles, acicular or needle for medium-sized particles, and flake-like for fine particles. Furthermore, the vein graphite offers crystalline perfection, high thermal & electrical conductivity, lubricating properties, chemically inertness, resistance to oxidation & high temperatures, high density, and it is environmentally friendly. These properties surge its demand in the energy materials, lubricants, grinding wheels, powder metallurgy, electrical components, friction materials, plastics, and carbon brushes & parts.
The rapidly growing automotive industry will increase the demand for vein graphite in various applications. The vein graphite can withstand extreme temperature & pressure, due to that it is utilized in the lubricants, which is used in an automotive engine. Further, the lithium batteries also require graphite electrodes which are vein graphite and natural flake.
The rising adoption of hybrid vehicles coupled with innovation in automotive technology will surge the growth in the automotive industry. Hence, these factors will further lead to fuel the vein graphite market growth during the forecast timeline.
However, the vein graphite is rarely found which causes lack of availability. This further impacts the product adoption and restricts its use in various applications. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rapidly growing automotive industry will drive the vain graphite market growth
Key Market Restraint -
Lack of availability of vein graphite to restrict the market growth
Based on type, the vein graphite market is segmented into fixed carbon 85%, fixed carbon 90%, fixed carbon 93%, fixed carbon 95% , and others. Based on application, the market is segmented into energy materials, lubricants, grinding wheels, powder metallurgy, electrical components, friction materials, plastics, carbon brushes & parts, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the vein graphite market include Asbury Carbons, Saint Jean Carbon, Graphit Kropfmühl GmbH, Lanka Graphite Limited, Ceylon Graphite Corp, IDTechEx Ltd, Ceylon Graphene Technologies, Aspermont Ltd., Graphite Central, and Canada Carbon.
Asia Pacific is anticipated to witness the highest growth in the vein graphite market. The growth is attributed to the rising adoption of the product in the grinding wheels and powder metallurgy. The rising demand for the vein graphite market in the lubricants will fuel the market growth in Europe, in which UK, Germany, Italy, and France are the leading countries. In North America, the product is utilized in electrical components and friction materials. Hence, rising adoption will further lead to market growth in this region. The Middle East & Africa is anticipated to witness significant growth, owing to the rising demand for the product in the plastic application.
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