Graphite Market Report 2025

This Graphite market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The graphite market size has grown strongly in recent years. It will grow from $1.21 billion in 2024 to $1.31 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to demand from steel industry, battery and energy storage, refractories and foundry industry, automotive industry, emerging markets.

The graphite market size is expected to see strong growth in the next few years. It will grow to $1.72 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to electric vehicle (ev) growth, energy storage, battery technology advancements, infrastructure development, global industrialization. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.

The increasing demand for electric vehicles is expected to drive the growth of the graphite market in the future. Electric vehicles (EVs) are powered by electricity stored in batteries, eliminating the need for conventional internal combustion engines. Graphite is used in EVs to manufacture lightweight, high-energy-density lithium-ion batteries, acting as the anode material for efficient energy storage and release. For example, in 2024, the International Energy Agency reported that electric car sales in 2023 saw an increase of 3.5 million units compared to 2022, a 35% rise year-on-year. Therefore, the growing demand for electric vehicles is expected to boost the graphite market.

Graphite mining companies are adopting the use of autonomous vehicles to enhance productivity, reduce operational costs, and improve safety. Autonomous vehicles offer several advantages, including increased efficiency by minimizing delays, reduced operating costs, and improved accuracy and repeatability, thereby eliminating errors. For example, industry leaders such as Rio Tinto, BHP Billiton, and Fortescue Metals Group are actively deploying autonomous vehicles in their mining operations. These driverless trucks are effectively used to transport ore, contributing to improved operational efficiency and safety within the graphite mining sect.

Companies in the general mineral market are actively developing innovative technologies, such as battery-related fabrication methods, to maintain their competitive position in the industry. Battery-related fabrication technology encompasses the various processes and techniques used in the manufacturing of batteries, including the production of battery cells, electrodes, and other components. As an example, in March 2022, Battrion AG, a Switzerland-based battery technology company, in collaboration with its partner Jagenberg Converting Solution GmbH, a Germany-based machine and equipment manufacturer, introduced Battrion's Aligned Graphite Technology for lithium-ion batteries. Aligned Graphite Technology represents a groundbreaking approach to fabricating lithium-ion batteries, enhancing the microstructure of negative electrodes. This improvement results in superior battery performance and faster charging capabilities. The technology also reduces cell resistance, leading to more efficient charge and discharge processes, ultimately offering cost savings in battery production. Importantly, it is compatible with standard graphite materials, requiring no modifications to existing manufacturing processes. These performance benefits have received validation from prominent automotive OEMs and cell manufacturers, and Aligned Graphite Technology holds the potential to transform the electric vehicle and high-power battery industry by optimizing energy storage and battery manufacturing.

In January 2023, Northern Graphite, a graphite-producing company based in the United States, established a partnership with Graphex, a UK-based manufacturer specializing in spherical graphite and graphene. Together, they embarked on a significant project aimed at producing battery anode materials in Canada. This project is designed to address the rising demand for anode materials essential for lithium-ion batteries, which play a crucial role in powering electric vehicles (EVs). Northern Graphite's expansion plans extend beyond their existing natural graphite production, incorporating feedstock sourced from their graphite mines in Canada and Namibia. They also intend to venture into the synthetic graphite market. This strategic collaboration reflects the industry's commitment to meeting the growing needs of the EV market and advancing battery technology.

Major companies operating in the graphite market include Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc., Triton Minerals Ltd., Alabama Graphite Corp., American Graphite Technologies, Anson Resources Ltd., Archer Materials Ltd., China Carbon Graphite Group, First Graphene Limited, Showa Denko KK, GrafTech International Ltd., BTR New Material Group Co. Ltd., Shanshan Technology Co. Ltd., Lianyungang Jinli Carbon Co. Ltd., Weaver Industries Inc., DMC Global Inc., Mercer Gasket & Shim Inc., Nippon Graphite Fiber Co. Ltd., Zoltek Corporation, Graphite One Inc., NextSource Materials Inc., Syrah Resources Ltd., Novonix Ltd., Elcora Advanced Materials Corp., Graphene Manufacturing Group, NanoXplore Inc., Asbury Carbons Inc., Zentek Ltd.

Graphite is a crystalline form and allotrope of carbon. It is soft, breaks easily with minimal pressure, and has a very low specific gravity. Featuring a metallic luster, it is opaque to light and is typically found in metamorphic and igneous rocks.

Graphite can be categorized into two primary types such as flake graphite and non-flake graphite. Flake graphite refers to a naturally occurring form of graphite characterized by its carbon composition and flaky morphology. Various graphite products are available, including natural graphite and synthetic graphite, which come in different size classifications such as jumbo, large, medium, small, and fine. Graphite finds application across a wide range of industries, including refractories, batteries, lubricants and crucibles, foundry processes, pencils, and various other applications.

The graphite market research report is one of a series of new reports that provides graphite market statistics, including graphite industry global market size, regional shares, competitors with a graphite market share, detailed graphite market segments, market trends, and opportunities, and any further data you may need to thrive in the graphite industry. This graphite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Asia-Pacific was the largest region in the graphite market in 2024. South America was the second largest region in the graphite market. The regions covered in the graphite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the graphite market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The graphite market consists of sales of mineral and its compounds which are used in refractory materials, the chemical industries, nuclear industries, electrical applications, and mechanical applications. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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