Graphite Market Overview:
Global Graphite Market size and share is currently valued at USD 7,976.96 million in 2024 and is anticipated to generate an estimated revenue of USD 15421.71 million by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 6.9% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Key Market Drivers:
- Demand in Electric Vehicles (EVs): Graphite’s use in lithium-ion batteries propels its market growth.
- Increasing Use in Electronics: As a thermal conductor and lubricant, graphite is vital in the electronics sector.
- Growth in Renewable Energy Projects: Its application in energy storage solutions is a significant driver.
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Key Companies in Graphite Market:
- Toyo Tanso Co., Ltd.
- Tokai Carbon Co. Ltd
- HEG Limited
- Graphite India Limited
- GrafTech International Ltd.
- Mersen Group
- SGL Carbon
- NEXTSource Materials Inc.
- Focus Graphite
- Mason Resources Inc.
- Syrah Resources Limited
- Mitsubishi Chemical Group Corporation.
Graphite Market Research Scope
Market research for graphite investigates its applications in industries like energy storage, automotive, and electronics. The scope covers the rising demand in electric vehicle (EV) batteries, renewable energy projects, and industrial lubricants. It examines the supply chain from mining to end-user applications, addressing critical aspects like material purity, production processes, and geopolitical factors. The study evaluates market drivers, including technological innovations and increasing demand for energy-efficient solutions. Competitive landscapes, pricing trends, and regional supply-demand dynamics are assessed to provide a comprehensive overview of graphite’s market potential.
Graphite Market Segmentation:
The graphite market is segmented by type, application, and geography. Types include natural and synthetic graphite, each with unique properties and applications. Application segmentation covers lithium-ion batteries, refractories, lubricants, foundry materials, and electronics. Regional segmentation examines production and demand dynamics in key markets like North America, Europe, Asia-Pacific, and the Middle East. Additionally, the market can be segmented based on form (powder, flakes, amorphous) and end-use industries such as automotive, energy, and steel. This segmentation enables a deeper understanding of graphite’s diverse applications and regional supply-demand trends.
Graphite Market, Product Outlook (Revenue – USD Million, 2019-2032)
- Natural Graphite
- Synthetic Graphite
Graphite Market, Application Outlook (Revenue – USD Million, 2019-2032)
- Batteries
- Electrodes
- Refractories
- Recarburisers
- Lubricants
- Foundry
- Others
Graphite Industry Developments:
- July 2023: Mersen inaugurated new graphite manufacturing facilities in the USA, significantly enhancing its production capabilities. The plant is expected to achieve an annual capacity of 2,000 tons of isostatic graphite and 4,000 tons of extruded graphite. By the end of 2024, Mersen aims to increase its global isostatic graphite manufacturing capacity to 16,000 tons.
- March 2023: Mersen and Wolfspeed, a global leader in Silicon Carbide (SiC) technology, entered a major agreement. Mersen will supply Wolfspeed with graphite and advanced materials to support the expansion of Wolfspeed’s production capacity, addressing the growing demand for SiC materials and devices.
- October 2022: SGL Carbon expanded its production capacities for graphite products tailored for the semiconductor industry. This expansion was implemented across its facilities in Shanghai, St. Marys (USA), and Meitingen (Germany), enhancing its ability to meet industry demands.
- October 2022: Syrah Resources announced plans to quadruple the capacity of its graphite facility in Louisiana, USA. This expansion follows the receipt of a substantial USD 219.8 million grant from the U.S. government, reflecting its strategic growth ambitions.
- June 2022: Mitsubishi Chemical Holdings Group (MCHG) boosted its production capacity for natural graphite anode materials at its Chinese subsidiaries, Qingdao Lingda Kasei and Qingdao Anode Kasei. The capacity increase from 2,000 tons/year to 12,000 tons/year is supported by a new production line, expected to commence operations in the first half of the 2023 fiscal year.
The Graphite market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.