As per MarkNtel Advisors the Graphite Market size was valued at around USD 17.18 billion in 2024 and is projected to reach USD 23 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5% during the forecast period, i.e. 2025-30.

Graphite Market Systems Market Outlook:

The main reason behind this growth is the advanced properties offered by graphite such as allowing high electric flow, high melting point, low friction, etc. that makes it the most suitable element for various industrial applications such as in batteries, steel making, refractory material, as dry machine lubricant, etc. Moreover, investments are made by electric vehicle manufacturers to expand their production and meet the growing need for sustainable vehicles. The EVs use Lithium-ion batteries to run the engine and most of these batteries use Graphite to make anode. As there is no other substitute for graphite in these batteries, the increasing number of EVs increases the demand for Graphite as well. For instance, in 2024, Volkswagen collaborated with Rivian to share key technologies to meet the growing demand for EVs by providing affordable and sustainable transport solutions. The deal was worth around USD 5.8 billion. Additionally, Graphite is used in brake shoes and brake lining as well which further increases the demand for Graphite with the growing demand for EVs.

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Graphite Market Systems Market Segmentation:

By Product Type

• Natural- Market Size & Forecast 2020-2030, USD Million
• Synthetic- Market Size & Forecast 2020-2030, USD Million

By Application

• Refractories- Market Size & Forecast 2020-2030, USD Million
• Electrodes- Market Size & Forecast 2020-2030, USD Million
• Foundries- Market Size & Forecast 2020-2030, USD Million
• Batteries- Market Size & Forecast 2020-2030, USD Million
• Others (Lubricants, etc.)- Market Size & Forecast 2020-2030, USD Million

By End-User

• Metallurgy- Market Size & Forecast 2020-2030, USD Million
• Electronic- Market Size & Forecast 2020-2030, USD Million
• Automotive- Market Size & Forecast 2020-2030, USD Million
• Others- Market Size & Forecast 2020-2030, USD Million

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Graphite Market Recent Development:

2024: Northern Graphite Corporation integrates with Rain Carbon to jointly develop natural graphite for the anode in batteries. The aim is to develop batteries that have an extended life cycle, less electrode swelling, and faster charging speed.

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Graphite Market Drivers:

Growing Demand from Lithium-Ion Battery Manufacturers – Various industries such as; EV makers, smartphone companies, etc., are gaining high growth. As there is a high need for lithium batteries in their work, the demand for graphite is also continuously increasing as it is used in most of the batteries in making anode. The demand for electric vehicles is continuously increasing as they help meet emissions goals and are also cheap to run. For instance, according to government VAHAN data, in India, the registration of EVs is experiencing about 23% year-on-year growth, and approximately 1,59,000 EVs were registered in September 2024.

Report Highlights Essential Insights for Strategic Decision-Making

• Detailed market size, share, and forecast analysis
  • In-depth pricing trends and segment-wise cost evaluations
  • Key industry strategies, including innovation, partnerships, and acquisitions
  • Critical value chain analysis and stakeholder profiling
  • Regional import-export market insights and trade flow assessment
  • Thorough competitive benchmarking of top hearing aid manufacturers
  • Identification of new growth opportunities and niche market segments
  • Overview of market trends, drivers, and challenges shaping future demand

Some of the leading players in the Graphite Market are:

• AMG Advanced Metallurgical Group NV
• Asbury Carbons
• Eagle Graphite
• EPM Group
• Grafitbergbau Kaisersberg GmbH
• GrafTech International Ltd.
• Graphite India Limited (GIL)
• Imerys S.A.
• National Graphite
• Northern Graphite Corporation
• SGL Carbon SE
• TOYO TANSO CO., LTD.
• Triton Minerals Ltd.
• Nippon Carbon Company Ltd.
• Mason Resources Inc.
• Others

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Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

• Define objectives and research design
• Collect data through surveys and interviews
• Analyze and validate data using reliable tools
• Forecast trends and deliver actionable insights

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