The 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 carbon-based refractory materials used for melting metals and other materials that have high melting points, typically above 1500°C. They provide various advantages over other crucible materials such as corrosion resistance, high thermal shock resistance, and ability to withstand extreme temperatures without oxidation. Due to these properties, graphite crucibles find wide application in metallurgy, casting and glass industries for melting metals like steel, copper, aluminum and holding molten glass.
Market Dynamics:
Growing investments in modernization and expansion of foundries and steel plants is a major factor driving the growth of graphite crucible market. Growing demand for non-ferrous metals such as aluminum from end-use industries is fueling the adoption of graphite crucibles in foundries. Moreover, favorable government policies and initiatives to promote domestic manufacturing is supporting the growth of metal casting industry in emerging economies, thus augmenting the market growth. However, availability of alternative materials such as quartz glass and ceramic crucibles is a major challenge for graphite crucible market. Ongoing R&D to introduce advanced materials with better properties is expected to present lucrative opportunities for market players over the forecast period.
Segment Analysis
The Graphite Crucible Market Size is dominantly segmented by material into isotropic graphite and anisotropic graphite. The anisotropic graphite segment accounts for more than 60% of the overall market share due to its exceptional ability to resist change in shape at high temperatures. It provides excellent thermal shock resistance and withstands numerous cycles of heating and cooling as compared to isotropic graphite. This makes it suitable for demanding applications like growing crystals and melting metals and alloys.
PEST Analysis
Political: The government regulations around material disposal and recycling are encouraging higher adoption of graphite crucibles. They provide an eco-friendly option for furnace operators compared to clay graphite materials.
Economic: The continuous economic growth in Asia Pacific developing nations is driving heavy investment in industries like semiconductor manufacturing that boosts the demand for graphite crucibles for Czochralski crystal growth.
Social: Increasing public awareness about minimizing carbon footprint is positive for the growth of graphite crucibles which are 100% recyclable at the end of life.
Technological: Advancements in machining allowing complex geometries to be achievable have increased the applications of graphite crucibles in research areas involving directional solidification and floating zone techniques.
Key Takeaways
The global Graphite Crucible market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand from semiconductor manufacturing industry. Asia Pacific dominates the regional market share led by countries like China, Japan, South Korea owing to presence of leading crystal growers and electronic goods manufacturers in the region.
Regional analysis
Asia Pacific dominates the graphite crucible market with over 40% share led by countries such as China, Japan, and South Korea. This is attributed to large manufacturing bases of electronic products in these countries driving the demand for Czochralski crystal growth for semiconductor manufacturing that uses graphite crucibles.
Key players
Key players operating in the graphite crucible market include 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). Morgan Advanced Materials and Mersen together account for over 30% market share due to their strong product portfolio and global footprint across major manufacturing hubs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
