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 News

  • 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. 

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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

Report ID: SQMIG15J2066