by The global Graphite Crucible Market is estimated to be valued at US$ 1.07 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Graphite crucibles are hollow containers made of Graphite used for melting and holding molten metals at high temperatures. They are largely used in foundry industry for melting aluminum, copper and other non-ferrous metals. Graphite crucibles are highly resistant to heat and corrosion which makes them suitable for foundry applications. They provide stable melting and pouring conditions and uniform distribution of heat to molten metals during casting process. Their ability to withstand very high temperatures without cracking or deformation is a key advantage over ceramic and clay crucible materials.
Market key trends:
One of the key trends in the Graphite Crucible Market Size is the increasing demand from foundry industry. Foundry industry worldwide has been witnessing rapid growth driven by rising investment in infrastructure development and automotive manufacturing. Graphite crucibles are essential materials used for melting non-ferrous metals in foundries. With growing foundry output, the demand for Graphite crucibles from foundry applications is expected to rise substantially over the forecast period. Another important trend is the development of advanced graphite materials with better thermal conductivity and corrosion resistance properties. Key players are investing in R&D to offer customized crucibles made of isotropic graphite and petroleum coke based materials for varied application requirements in foundry and other high temperature industrial processes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low in the graphite crucible market owing to high capital costs and stringent regulations for materials handling hazardous substances.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of large number of suppliers for graphite crucibles. However, stringent quality standards limit options for buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as major raw materials producers control global supply. However, availability of substitutes provides buyers with alternatives.
Threat of new substitutes: The threat of new substitutes is low in the graphite crucible market as alternatives made from silicon carbide or fused silica are more expensive and lack functionality benefits of graphite.
Competitive rivalry: The competitive rivalry in the graphite crucible market is high due to presence of few large players controlling major market share through technological innovations.
Key Takeaways
The global graphite crucible market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period 2023-2030, due to increasing demand from metallurgy industries.
Regional analysis: Asia Pacific dominates the graphite crucible market with over 35% share, led by China. Rapid industrialization across countries such as China and India is driving demand. North America and Europe follow in terms of market share and are expected to grow at a steady pace during the forecast period.
Key players: Key players operating in the graphite crucible market are Morgan Advanced Materials (UK), Mersen (France), TOYO TANSO (Japan), SGL Group (Germany), NAC Carbon Products, Inc. (USA), Graphite India Limited (India), Superior Graphite (USA), Qingdao Tennry Carbon Co., Ltd. (China), Zircar Ceramics (USA) & Schunk Group (Germany). These companies focus on capacity and technological innovations to strengthen their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
