Press release
Emerging Drivers Influencing The Growth Of The Graphite Market: Growing Demand For Electric Vehicles Fueling Growth In The Graphite Market
Graphite
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How Big Is the Graphite Market Size Expected to Be by 2034?_x000D_
The graphite market size has shown strong growth in recent years. It will grow from $1.21 billion in 2024 to $1.31 billion in 2025 at a CAGR of 7.8%. This market growth has been driven by demand from the steel industry, battery and energy storage sectors, refractories and foundries, the automotive industry, and emerging markets._x000D_
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The graphite market size is expected to experience strong growth in the coming years. It will grow to $1.72 billion by 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth is driven by the growth of electric vehicles (EVs), energy storage, battery technology advancements, infrastructure development, and global industrialization. Key trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, and increased collaboration and partnerships._x000D_
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What Are the Emerging Segments Within the Graphite Market?_x000D_
The graphite market covered in this report is segmented -_x000D_
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1) By Type: Flake Graphite, Non-Flake Graphite_x000D_
2) By Product: Natural Graphite, Synthetic Graphite_x000D_
3) By Flake Size: Jumbo, Large, Medium, Small, Fine_x000D_
4) By Application: Refractories, Batteries, Lubricants/Crucibles, Foundry, Pencils, Other Applications_x000D_
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Subsegments:_x000D_
1) By Flake Graphite: Coarse Flake Graphite, Fine Flake Graphite_x000D_
2) By Non-Flake Graphite: Amorphous Graphite, Lump Graphite_x000D_
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What Long-Term Drivers Are Shaping Graphite Market Trends?_x000D_
The growing adoption of electric vehicles (EVs) is projected to drive the graphite market. Graphite is a key component in the production of lithium-ion batteries used in EVs, playing a crucial role in energy storage and release. In 2024, the International Energy Agency reported a significant 35% increase in electric car sales from 2022 to 2023, which will contribute to the ongoing growth of the graphite market._x000D_
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Who Are the Top Competitors in Key Graphite Market Segments?_x000D_
Major companies operating in the graphite market include 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._x000D_
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Which Regions Are Becoming Hubs for Graphite Market Innovation?_x000D_
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._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Graphite Market?_x000D_
2. What is the CAGR expected in the Graphite Market?_x000D_
3. What Are the Key Innovations Transforming the Graphite Industry?_x000D_
4. Which Region Is Leading the Graphite Market?
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