Global Graphite Market

Graphite Market Size, Share, Growth Analysis, By Type(Natural Graphite, Synthetic Graphite, and others), By Form(Flake Graphite, Amorphous Graphite, Vein Graphite, and others), By Application(Refractories, Lubricants, Batteries, Fuel Cells), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15J2066 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 95 |Figures: 76

Graphite Market Insights

Global Graphite Market size was valued at USD 20.5 billion in 2022 and is poised to grow from USD 21.53 billion in 2023 to USD 31.80 billion by 2031, growing at a CAGR of 5.% in the forecast period (2024-2031). 

In recent years, the global graphite market has been changing due to the diverse industrial applications and the increasing demand for sustainable and lightweight materials.

In the manufacturing of refractories, lubricants, batteries, and electrodes, it serves as a crucial material. The excellent thermal conductivity, electrical conductivity, and high melting point of graphite make it essential in industries such as metallurgy, electronics, and energy storage.

Additionally, the extensive industrial base and significant steel production of Asia-Pacific, particularly China, aids it to hold a dominant position in the global graphite market.

North America and Europe are witnessing increased demand for graphite due to a growing emphasis on electric vehicles and renewable energy projects.

Market Snapshot - 2024-2031

Global Market Size

USD 20.5 billion

Largest Segment

Synthetic Graphite

Fastest Growth

Natural Graphite

Growth Rate

5.% CAGR

Global Graphite Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Graphite Market Segmental Analysis

The global graphite market is segmented into four major segments i.e. by type, form, application, and region. Based on type, it is divided into natural graphite, synthetic graphite, and others. Based on form, it is bifurcated as flake graphite, amorphous graphite, vein graphite, and others. Based on application it is segregated into refractories, lubricants, batteries, fuel cells, foundry, electronics, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, Latin America.

Analysis by Type

Due to its versatility, consistency in quality, and suitability for various high-performance applications, Synthetic graphite has typically held a substantial market share. Industries such as steel and metallurgy, electronics, and energy storage often prefer synthetic graphite for its controlled properties and performance characteristics. Moreover, the demand for synthetic graphite may continue to be robust, due to the evolution of the steel industry and electric arc furnace (EAF) processes gain prominence.

Natural flake graphite is anticipated to be the fastest-growing type. The growth is attributed to the increasing demand for natural flake graphite in battery applications, especially in lithium-ion batteries for electric vehicles (EVs) and energy storage systems.

Analysis by Application

The necessity for high-performance graphite in lithium-ion batteries and the growing emphasis on renewable energy solutions have long driven the worldwide graphite market, with batteries and energy storage holding the majority position. The market for premium graphite materials is being driven by efforts to improve energy density and battery performance through continuous advances in battery technology.

Graphite is becoming more and more in demand as the automotive industry moves towards electric mobility for the creation of EVs. The fastest-growing application segment will be electric vehicles thanks to these growth features. The growing demand for electric vehicles and other sustainable forms of transportation worldwide are a major factor in the rise in graphite usage in batteries.

Global Graphite Market By type, 2023 (%)

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Graphite Market Regional Insights

The robust industrial activities and infrastructure development of the region contribute to the overall demand for graphite majorly in the Asia Pacific region. Major counties, particularly China, hold a dominant position due to their extensive industrial base, significant steel production, and leading role in electric vehicle (EV) manufacturing.

The increasing focus on electric mobility, renewable energy, and energy storage projects aids to anticipate North America to be among the fastest-growing regions. Government initiatives, favorable policies, and a rising awareness of environmental sustainability are driving the demand for graphite in advanced technologies.

Global Graphite Market By Region, 2024-2031
  • Largest
  • Fastest

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Graphite Market Dynamics

Drivers

Increasing Demand for Graphite in the Batteries

  • The increasing demand for graphite in the batteries and energy storage sector. As the world transitions towards electric mobility and renewable energy solutions, the demand for high-quality graphite, especially in lithium-ion batteries, has surged. Another significant driver is the evolving steel and metallurgy industry, where graphite electrodes play a crucial role in electric arc furnace (EAF) processes.

Restraints

High Sugar Content and Consumer Spending Constraints

  • One of the main market restraints is the environmental concerns associated with graphite mining. The extraction process can have environmental implications, leading to issues related to land degradation and water pollution. Additionally, the market contends with supply chain constraints, including fluctuations in graphite prices and uncertainties in the availability of raw materials. High initial costs and complex processing requirements also pose barriers to entry, particularly for smaller players in the market.

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Graphite Market Competitive Landscape

The competitive environment of the graphite market is dynamic and marked by the presence of key players striving for market share and continuous innovation. Companies are actively engaged in strategic initiatives, including mergers and acquisitions, collaborations, and research and development activities, to strengthen their market position and expand their product portfolios. The focus on sustainability and environmental responsibility is prompting companies to explore cleaner and more efficient production processes.

Top Player’s Company Profiles

  • Graphite India Limited
  • SGL Carbon SE
  • GrafTech International Holdings Inc
  • Imerys
  • Asbury Graphite
  • Shandong Tianhe Graphite
  • CNBM International Corporation
  • Graphite One Resources
  • NextSource Minerals Inc.
  • Syrah Resources
  • Shanxi Haishang Carbon Co., Ltd.
  • Qingdao Black Dragon Graphite Co., Ltd.
  • Hefei Carbon Technology Co., Ltd.
  • Graphite Sales, Inc.
  • Makino
  • Olmec Graphite
  • Coidan Graphite
  • Datron AG

Recent Developments

  • In August 2023, Tirupati Graphite PLC affirmed that its association with PranaGraf Materials & Technologies Private Ltd remains unaffected, notwithstanding PranaGraf's rebranding from Tirupati Speciality Graphite Private Ltd.
  • In January 2023, Power Metal Resources PLC, a London-listed exploration firm focused on significant metal discoveries, disclosed the acquisition of the 4,222-hectare Doerksen Bay graphite Project in Saskatchewan, Canada. This strategic move provides Power Metal shareholders with entry into the dynamic graphite sector, essential for emerging battery technologies.
  • One of the top producers, Superior Graphite, said in June 2023 that it would invest USD 180 million to build a new factory for anode materials. By making this change, the business will be able to satisfy the growing demand from the energy storage and electronic vehicle sectors in North America and Europe for its product. 

  • The NSPA stated that the Greek Army had chosen SAFRAN Patroller to improve its tactical drone capabilities in June 2023. Armed with a variety of sensors, the Patroller assisted homeland security and military forces with their intelligence operations. Interestingly, it was certified by NATO to meet airworthiness requirements under STANAG 4671, which is applicable to fixed-wing drones weighing more than 150 kg. The corporation benefited from this development by maintaining its reputation in the drone market and increasing profitability. 

Graphite Key Market Trends

Rising Emphasis on Sustainable Technologies and adoption of EVs

  • The growing emphasis on sustainable technologies, particularly in the context of electric vehicles (EVs) and renewable energy. The increasing adoption of EVs is driving the demand for high-quality graphite in lithium-ion batteries, fostering innovation in battery technology to enhance energy density and overall performance. Additionally, the expanding renewable energy sector relies on graphite for energy storage applications, further propelling market growth.

Graphite Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Global graphite market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by the increasing demand for lithium-ion batteries in electric vehicles and renewable energy storage, driving a surge in graphite consumption. However, environmental concerns associated with graphite mining pose a challenge. The market showcases a dominance of synthetic graphite due to its versatility, particularly in applications like steel production and batteries. Asia-Pacific, led by China, holds a significant market share, while North America and Europe witness robust growth due to the rising adoption of electric vehicles. Key trends include a focus on sustainable technologies, innovations in battery materials, and continuous efforts to address environmental impacts in the graphite supply chain.

Report Metric Details
Market size value in 2023 USD 20.5 billion
Market size value in 2031 USD 31.80 billion
Growth Rate 5.%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Natural Graphite, Synthetic Graphite, and others
  • Form
    • Flake Graphite, Amorphous Graphite, Vein Graphite, and others
  • Application
    • Refractories, Lubricants, Batteries, Fuel Cells, Foundry, Electronics, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Graphite India Limited
  • SGL Carbon SE
  • GrafTech International Holdings Inc
  • Imerys
  • Asbury Graphite
  • Shandong Tianhe Graphite
  • CNBM International Corporation
  • Graphite One Resources
  • NextSource Minerals Inc.
  • Syrah Resources
  • Shanxi Haishang Carbon Co., Ltd.
  • Qingdao Black Dragon Graphite Co., Ltd.
  • Hefei Carbon Technology Co., Ltd.
  • Graphite Sales, Inc.
  • Makino
  • Olmec Graphite
  • Coidan Graphite
  • Datron AG
Customization scope

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  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Graphite Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Graphite Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Graphite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Graphite Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Graphite Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Graphite Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Graphite Market size was valued at USD 20.5 billion in 2022 and is poised to grow from USD 21.53 billion in 2023 to USD 31.80 billion by 2031, growing at a CAGR of 5.% in the forecast period (2024-2031). 

The competitive environment of the graphite market is dynamic and marked by the presence of key players striving for market share and continuous innovation. Companies are actively engaged in strategic initiatives, including mergers and acquisitions, collaborations, and research and development activities, to strengthen their market position and expand their product portfolios. The focus on sustainability and environmental responsibility is prompting companies to explore cleaner and more efficient production processes. 'Graphite India Limited', 'Mason Graphite', 'SGL Carbon SE', 'GrafTech International Holdings Inc', 'Triton Minerals Ltd', 'Imerys', 'Asbury Graphite', 'Shandong Tianhe Graphite', 'CNBM International Corporation', 'Graphite One Resources', 'NextSource Minerals Inc.', 'Syrah Resources', 'Shanxi Haishang Carbon Co., Ltd.', 'Qingdao Black Dragon Graphite Co., Ltd.', 'Hefei Carbon Technology Co., Ltd.', 'Graphite Sales, Inc.', 'Makino', 'Olmec Graphite', 'Coidan Graphite', 'Datron AG'

The increasing demand for graphite in the batteries and energy storage sector. As the world transitions towards electric mobility and renewable energy solutions, the demand for high-quality graphite, especially in lithium-ion batteries, has surged. Another significant driver is the evolving steel and metallurgy industry, where graphite electrodes play a crucial role in electric arc furnace (EAF) processes.

The growing emphasis on sustainable technologies, particularly in the context of electric vehicles (EVs) and renewable energy. The increasing adoption of EVs is driving the demand for high-quality graphite in lithium-ion batteries, fostering innovation in battery technology to enhance energy density and overall performance. Additionally, the expanding renewable energy sector relies on graphite for energy storage applications, further propelling market growth.

The robust industrial activities and infrastructure development of the region contribute to the overall demand for graphite majorly in the Asia Pacific region. Major counties, particularly China, hold a dominant position due to their extensive industrial base, significant steel production, and leading role in electric vehicle (EV) manufacturing.

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Global Graphite Market

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