Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 12.06 Billion | USD 23.33 Billion | 6.82% | 2024 |
The global graphite market size was worth around USD 12.06 Billion in 2024 and is predicted to grow to around USD 23.33 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 6.82% between 2025 and 2034.
The report analyzes the global graphite market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the graphite industry.
Graphite is a carbon mineral adopted in different applications like construction, lubrication, foundry, refractories, electric vehicles, and others. The growing scope of graphite in the end-user sectors is due to its superior properties like high metal removal rate, thermal shock resistance, easy to machine, reduced wear, and others. It is non-metal but owns metallic properties like the good conductor of heat & electricity, high strength, stiffness, and others. The two distinct types of graphite available in the market include synthetic and natural graphite. Graphite is a soft crystalline carbon allotrope. Graphite is widely used in the lithium-ion battery as an anode material.
Increasing adoption of nuclear pebble bed reactors is likely to drive the growth of the global market.
Nuclear pebble bed reactors are an advanced variation of high-temperature gas reactors which require huge amounts of flake graphite for being used as moderators. These reactors reduce power which is far safer and more efficient than conventional reactors. A nuclear pebble reactor uses approximately 3000 tons of graphites. Graphite is widely used in the maturing electrical vehicle sector.
The growing expansion of the automotive sector is a crucial factor impacting the growth trajectory of the global graphite market. The increasing use of lithium-ion batteries strengthened the demand for graphite as it is massively used as an anode material in the battery. In the automobile sector, graphite is considered an ideal replacement for asbestos. It is widely used in gaskets, clutch materials, brake lining, etc. An increase in demand for high-quality natural graphite is also likely to generate huge revenue in the global market in the forthcoming years.
Downtrend in the steel sector is a major restraint in the global market.
Steel and refractory are the primary consumers of flake graphite. The supply and demand equation is highly unbalanced, and the overcapacity imposed by major steel-producing regions like India, China, and Japan are also impacting the growth of the market. The decline in demand for steel is likely to lower the consumption of graphite electrodes during the forecast period.
Technological advancements in the field of graphite are likely to offer ample opportunities in the global market.
Manufacturers are constantly increasing the research and development activities to innovate advanced technology for extracting graphite, which in turn is likely to create new avenues in the global market. Product launches and geographical expansion strategies are some other factors expanding the scope of the market.
Stringent regulation imposed by the government is a huge challenge in the global market.
The government has imposed several restrictions and regulations regarding the mining processes all across the globe. Regulations are imposed due to certain factors like protection against climate, environment, and employee safety. But such a landscape has emerged as a huge challenge in the global market. Increasing prices of graphite is another key challenge faced by market players in the global market.
The global graphite market can be segmented into application, type, and region.
By application, the market can be segmented into battery production, foundry, refractories, lubrication, and others.
By type, the market can be segmented into synthetic and natural graphite. The synthetic graphite segment can further be bifurcated into graphite powder, graphite block, carbon fiber, graphite electrodes, and others.
The natural graphite segment can further be bifurcated into vein graphite, flakes graphite, and amorphous graphite.
Report Attributes | Report Details |
---|---|
Report Name | Graphite Market |
Market Size in 2024 | USD 12.06 Billion |
Market Forecast in 2034 | USD 23.33 Billion |
Growth Rate | CAGR of 6.82% |
Number of Pages | 247 |
Key Companies Covered | Graphite India Limited, Zentek Ltd., Nippon Carbon Co. Ltd, POCO, HEG Limited, Pingdingshan Oriental Carbon Co. Ltd, ECO GRAF, GrafTech International, Tokai Carbon Co. Ltd, Shanshan Co., Resonac Holdings Corporation, and others. |
Segments Covered | By Type, By Subtype, By Application, By Purity, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia Pacific accounts for the largest share in the global graphite market due to the presence of prominent market leaders and a strong customer base in the region. The fast proliferating automotive and construction sector in growing economies like China, Japan, and India will further accelerate the growth of the regional market.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the graphite market on a global and regional basis.
The global graphite market is dominated by players like:
By Type
By Subtype
By Application
By Purity
By Region
FrequentlyAsked Questions
RelatedNews
HappyClients
Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Our support available to help you 24 hours a day, five days a week.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed