Press Release

A USD 17.18 Billion Global Graphite Market to Flourish at a CAGR of Around 5% During 2025-30

The Global 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, cites MarkNtel Advisors in their recent research report. The growth of this element is due to the advanced properties it offers such as allowing high electric flow, high melting point, etc. All these characteristics make graphite the most suitable element for various applications such as in batteries, steel plants, as a refractory material, etc.

Moreover, the investments made by electric vehicle manufacturers to meet the growing demand for electric vehicles further increase the demand for graphite. This is because graphite is used for making EV batteries that provide them energy to run. For instance, almost 14 million new electric cars were registered globally in 2023. Additionally, the high sales recorded by tech companies show the surging demand for their products such as smartphones and watches. All these products require graphite to make batteries, semiconductors, screens, etc., thus further increasing its demand. For instance, in 2024, Huawei, a smartphone manufacturer, ordered about 61 million OLED panels showing the surging demand for their smartphones.

Furthermore, the steel production plants are also major shareholders of the graphite market. They use graphite to handle the lava as graphite has a high melting point. Additionally, it is also used in making refractories. Moreover, graphite also helps in the production of green steel as it is used as an anode in the process of electrolysis. This also helps organizations in aligning with sustainability goals. Therefore, due to the wide use of graphite in various applications, it has experienced significant growth in past years and this trend is expected to continue in the future as well amid ongoing sustainability and emission-free goals, further states the research report, “Global Graphite Market Analysis, 2025.”

Global Graphite Market Segmentation Analysis

Batteries Hold a Major Market Share

Based on application, the market is further bifurcated into Refractories, Electrodes, Foundries, Batteries, and Others. The batteries are expected to hold the major market share in the coming years. This is because graphite is used as an anode material in 95% of the batteries as there is no such efficient alternate element available. The demand for such batteries is continuously increasing with the increasing production and demand for electric vehicles as these batteries provide longer life and fast charging as compared to traditional batteries.

Moreover, LiBs are also used in various daily-use devices such as; laptops, smartphones, smart watches, etc., that are widely used in developed and emerging economies such as; the US, India, etc. Hence, the continuously rising production & sales of lithium-ion batteries indicate lucrative opportunities for the global graphite market in the coming years.

Asia Pacific Leads the Global Graphite Industry

Regionally, Asia Pacific is the most prominent producer as well as consumer of graphite across the globe. In 2023, China was responsible for the production of the highest number of batteries used in electric vehicles with about 66% share of the global batteries production. Additionally, China also leads in terms of steel production and is responsible for about 54% of the global steel produced in 2023. As these plants use graphite in arc furnaces and molders, and batteries use graphite to make anode, they further increase the demand for graphite. Moreover, India and Japan hold the second and third positions respectively in terms of worldwide steel production. Therefore, due to the high use of graphite in steel plants and manufacturing batteries in Asia-Pacific, this region dominates the market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including AMG Advanced Metallurgical Group NV, Asbury Carbons, Eagle Graphite, EPM Group, Grafitbergbau Kaisersberg GmbH, GrafTech International Ltd., Graphite India Limited (GIL), Imerys S.A., Nacional de Grafite, Northern Graphite Corporation, SGL Carbon SE, TOYO TANSO CO. LTD., Triton Minerals Ltd., Nippon Carbon Company Ltd., Mason Resources Inc., and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from products been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?