Graphite Market is expected to reach US $43.66 billion by 2030 Says Maximize Market Research

The Global Graphite Market is expected to reach US $43.66 billion by 2030, thanks to growth in the refractories segment. The report analyzes graphite market dynamics by region and applications.

Market Overview:

Graphite, a crystalline form of carbon with a hexagonal atomic structure, is the most stable form of carbon and occurs naturally. It transforms into diamond under high pressures and temperatures. Used in lubricants and pencils, it is also a good conductor of electricity and heat, benefiting electrodes, batteries, and solar panels. The graphite market is projected to grow by 500% by 2050, according to the World Bank.

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Market Dynamics

Revolution in Lithium-Ion Battery: Advanced lithium-ion and lithium iron phosphate batteries are driving growth in the graphite market. The power electric vehicles, medical devices, and portable electronics with smaller sizes and increased power. The demand for batteries is expected to increase significantly by 2030.

Electric Vehicles: In 2020, global electric vehicle (EV) sales hit 10 million, driven by climate concerns. Lithium-ion batteries are essential for EVs and other vehicles. Tesla's Giga factory, opened in 2016, leads in battery production for EVs. 115 Giga plants were under construction by December 2019.

Industrial Applications: Graphite markets are growing due to traditional uses in pencils and furnaces, as well as a variety of new applications in automobile parts, coatings, lubricants, ceramics, and more. Industrial demand is expected to fuel market growth.

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Raising Prices of Graphite: China dominates the world graphite supply, with prices increasing steadily in 2021. Fast Markets IM reported a 32% rise in mid-July to US $410/ton for 80% grade. The surge was due to supply disruptions, rising demand, environmental inspections, production plant closures, and increased transit costs from China after COVID-19. Some companies cut production to comply with emissions rules, potentially hindering graphite market growth.

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Recent Developments:

• October 2022: Syrah Resources Ltd. will supply 2 ktpa of graphite as AAM to LG Energy Solution Ltd. from 2025, increasing to at least 10 ktpa from its Vidalia facility in Louisiana.

• July 2023: Graphite One Inc. received a $37.5 million grant from the US Department of Defense for its subsidiary, Graphite One (Alaska), Inc., to increase graphite production for electric vehicle batteries.

• June 2023: Superior Graphite is investing $180 million in a new anode materials facility to meet increasing demand in Europe and North America.

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Market Regional Insight

The Asia Pacific region dominated the graphite market in 2023, generating over xx% of total revenue. Key companies producing batteries for electric vehicles and growth in automotive and electronics industries fueled market growth. Despite a global decline in car sales due to the pandemic, there were 10 million electric vehicles on the road worldwide by the end of 2020. North America accounted for xx% of the global graphite market share in 2020 and is projected to grow at a xx% CAGR. The region's demand for electronic equipment in various industries, such as defense and manufacturing, drives market growth.

Key Offerings:

Porter's Five Forces Model used for business strategy designing, PESTEL Analysis was to develop company strategies considering political, economic, social, technological, environmental, and legal factors.

Market Segmentation:

by Type

• Crystalline Graphite
• Amorphous Graphite
• Lump Graphite
• Highly Ordered Pyrolytic Graphite

by Application

• Refractories
• Batteries
• Steelmaking
• Brake linings
• Foundry facings and lubricants
• Pencils
• Others

Some of the current players in the Market are:

• AMG (Germany)
• Asbury Carbons (U.S.)
• Eagle Graphite (Canada)
• Grafitbergbau Kaisersberg GmbH (Austria)
• Imerys S.A. (France)
• Stoker Concast Pvt. Ltd. (India)
• BTR NEW Material Group Co., Ltd. (China)
• Nacional de Grafite (Brazil)
• SGL Carbon (Germany)
• Mineral Commodities Ltd. (Australia)
• Superior Graphite (U.S.)
• Tirupati Carbons & Chemicals Pvt. Ltd. (India)
• GrafTech International Holdings Inc. (U.S.)
• Graphite India Ltd. (India)
• Triton Minerals Ltd. (Australia)
• Mason Graphite, Inc. (Canada)

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