Global Graphite Market Growth Analysis 2024, Forecast To 2033
12 Jan, 2024
The graphite market has demonstrated robust growth, rising from $1.2 billion in 2023 to $1.3 billion in 2024, showcasing an 8.1% CAGR. Historical growth is linked to demand from the steel industry, battery and energy storage, refractories and foundry industry, automotive industry, and emerging markets. Predicting strong growth, the market is expected to reach $1.73 billion in 2028, reflecting a 7.4% CAGR. Future growth drivers include electric vehicle (EV) expansion, energy storage, battery technology advancements, infrastructure development, and global industrialization. Key trends encompass electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and collaboration and partnerships.
Global Graphite Market Key Driver
Growing demand for electric vehicles propels the graphite market. Electric vehicles, reaching 6.6 million in sales in 2021, utilize graphite in lithium-ion batteries. With a 4% increase in 2021 and a total of 16.5 million electric vehicles on the road, the graphite market is driven by the rising demand for electric vehicles.
Get A Free Sample Of The Global Graphite Market ReportGlobal Graphite Market Segments
The graphite market covered in this report is segmented –
1)By Type: Flake Graphite, Non-Flake Graphite
2)By Product: Natural Graphite, Synthetic Graphite
3)By Flake Size: Jumbo, Large, Medium, Small, Fine
4)By Application: Refractories, Batteries, Lubricants/Crucibles, Foundry, Pencils, Other Applications
By Geography: The regions covered in the graphite market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the graphite market in 2023. 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.
Major Graphite Industry Players
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.
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Graphite Market Overview
Graphite is an allotrope and crystalline form of carbon. It is soft, cleaves with very light pressure, and has a very low specific gravity. It has a metallic luster and is opaque to light and found in metamorphic and igneous rocks.
Graphite Global Market Report 2023 provides data on the global graphite market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The graphite market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.