Graphite Market Research Report- Forecast to 2030

Graphite Market: By Form (Natural, Synthetic) and By Application (Electrode, Refractory, Lubricant, Foundry, Battery, Others) - Forecast till 2030

ID: MRFR/CnM/0354-CR | February 2021 | Region: Global | 115 Pages         

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Graphite Market

Graphite Market is projected to be worth USD 30.56 Billion by 2030, registering a CAGR of 9.35% during the forecast period (2022 - 2030)

By Form Natural Synthetic
By Application Electrode Refractory Lubricant Foundry Battery
Key Players
Companies Profiled   Huarui Carbon New Material Co. Ltd   Beijing Great Wall Co. ltd of China   Hebel Rubang Carbon Products Co. Ltd
Market Driving Forces   The increasing steelmaking operations.   The rising demand for fuel-efficient aircraft
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Graphite Market Overview

Graphite Market is projected to be worth USD 30.56 Billion by 2030, registering a CAGR of 9.35% during the forecast period (2022 - 2030), The market was valued at USD 16 billion in 2021. Graphite is an alloy of carbon useful in various applications like it is used in refractories, construction, foundry, and many others.

COVID 19 ANALYSISThe outbreak of COVID created a dangerous area for which decreased the demand of production of graphite in the whole world. It created a challenging factor for the industry thus minimizing the growth of the end-users industries. Due to the lockdown and shutdown imposed by the government, the manufacturing unit and the supply chain were halted. Labour shortage was experienced throughout the world. The graphite industry experienced a logistics shortage during the pandemic. The industry has been hugely affected both, economically as well as in industrial manufacturing activities. India is regarded to occupy the third-largest producer of both iron and steel. This rapid pacing country has soared high also in the sectors of automotive and infrastructure. The government has taken huge initiatives for setting up steel manufacturing units. MARKET DYNAMICS Drivers use of graphene has driven up the demand of the industry. Apart from its unique features, the demand for graphite rises as it is used in manufacturing commercially viable electric and hybrid vehicles which will increase in the next upcoming years. Opportunities using the modernized green technology for increasing the graphite market value and merging and acquisitions activities increase market expansion opportunities of the competitors to be placed in the top position in the graphite market these years. Graphite is used in the aerospace industry and raises the advantages of using lightweight structural parts that increase the efficiency of fuel. Its high strength-to-weight capability raises the opportunities of the market share. Growth of refractories manufacturing industries where graphite is used as raw material, production of batteries by using the advanced technology, rising the demand for battery storage. Rise in the demand if new graphite mines raise the opportunities for growth of the industry. Challenges High tolerance, its rigidity, and strength becomes the most challenging factor as per the graphite market trends. Increasing the export business of graphite in the Chinese regions becomes the most challenging factor for the industry. Using the modernized lubrication technology, rise in demand of steel production, closing the graphite mines for a couple of years reducing the production of graphite acts as key challenging factors of the industries. Cumulative growth High growth of lithium-ion battery industry and a large amount of steel production from graphite electrode electric arc furnaces. Rise in graphite market value due to the manufacture of graphite products like crucibles, ladles, molds which capture the molten metal thus bolstering up the market growth during the forecast period from 2019 to 2021. Restraints The rise of the export facility in China and the reduction in the price graphite market hampers the graphite market size during the forecast period. the launching of new anode materials for lithium-ion batteries along with various other environmental regulations during the pandemic harmed the expansion of graphite market value and graphite market size. The rise in environmental production reduces the graphite market value and also the graphite market size. Strict rules and laws of the government over the manufacturers of the graphite about lessening the environmental production harms the growth and also the market size. 


By type

Globally and regionally the graphite market is highly categorized into type, application, and region. Based on type, the graphite industry is classified into natural graphite and synthetic graphite. The natural division is divided into flake graphite, amorphous graphite, and vein graphite. Synthetic graphite is further classified into graphite electrode, graphite block, graphite powder, carbon fiber, and many more. Based on application, the graphite market is divided into lubrication, refractories, founder, production of batteries, and many more. The synthetic segment is expected to be the dominant segment and covers a large graphite market thus owing to the rise in the demand of both steel and graphite industries. The rise in demand for both steel and graphite industries increases the usage of graphite products. Based on region, the graphite industry is dominant in the region of North America, European regions, Asia-Pacific, and LAMEA regions. By technology Due to the advancement of technology, the new graphite material has the property of reducing wear and tear, makes the machine easy to work, gives resistance to thermal heat, even has the property of high metal removal rate, and many others. Graphite being a non-metal has the property of becoming stiff, having more strength, and even conducts heat and electricity well and many more. REGIONAL ANALYSIS

  • The Asia-Pacific graphite market is expected to cover the largest market share due to the innumerable rise in value and volume. It maintains its dominance throughout the forecast period. The growth of business in this region also takes place due to the presence of competitors and consumer base, especially in this region. Other regions of China, India, and Japan contribute to the highest production of graphite and occupy 40% of the graphite market, especially in this region. In 2018, Chinese producers started manufacturing the graphite electrodes for which this country has been continuously raising the number of plants by using the electric furnace for the production of steel. COMPETITIVE LANDSCAPE Some of the players in the value supply chain are CM Carbon, Huarui Carbon New Material Co. Ltd, Beijing Great Wall Co. ltd of China, and Hebel Rubang Carbon Products Co. Ltd and many others act as supply chain. These companies adopt new and innovative marketing strategies and launch and develop a new product, merging with other companies, acquisitions, developing partnerships, and signing an agreement to stay competitive in the whole market and occupy the top-notch position. The launching of a new product has strengthened the rest of the graphite companies to highlight their product portfolio.


  • Triton Minerals ltd developed a partnership with Suzhou Sinoma Design and also acquired with Research Institute Non-metallic Minerals Industry Co. Ltd. these testing companies deal with giving consulting services like using technology for the production of graphite, producing graphite of good quality, and producing line equipment.

  • November 2021: Gratomic Inc. is planning to acquire 100% interest in the Brazilian Graphite Exploration Project this year. With the acquisition of the Brazilian graphite project, Gratomic will be given the opportunity of diversifying the former’s interests and creating a large-scale graphite deposit segment at the Capim Grosso project. This will help strategically cater to the burgeoning demand for superior quality graphite and offer a major competitive edge by reducing the risk related to business development across numerous mining friendly locations.

  • October 2021: ELCORA Advanced Materials Corp. has assigned Lab 4 Inc. for the development and production production of its Tanzanian graphite mineral project.Lab 4 Inc. has over 30 years of expertise in the graphite sector and will be offering Elcora with a host of graphite sector strategies, Preliminary Economic Analysis, 43-101, circuit design, pre-feasibility analysis, detailed engineering, control systems assistance in commissioning, operation and fabrication, of graphite beneficiation units.

  • West Water Resources developed a modernized product named Purified Micronized Graphite. It is useful for increasing the conductivity of both rechargeable and non-rechargeable lithium-ion batteries, power cells containing alkaline solutions, and other acid batteries usage. This natural flake graphite has advanced battery technology along with a processing materials facility.

  • In the year of October 2019, Tokai Carbon Co. Ltd manufactured COBEX Holdco GmbH, which is the most dominant unit for the manufacture of carbon and graphite products.


The report summarises the industrial competitors operating in the market. The report gives an in-depth qualitative and quantitative analysis of the present market scenario. It provides information about the future estimations of the market during the forecast period of 2019 to 2021. It summarises the factors of market dynamics that will affect the growth. It gives a good assessment about understanding the profiles of the key players. the report gives good insights about the regional segmentation of the graphite market. It also gives information based on value and volume for which the market sizing and forecasting have been done. This report will help you get insights into the graphite market and know about its growth trends. The analysis provided in this report ensures the acceleration in sales in this market in the upcoming years.

Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 30.56 Billion
  CAGR   2022–2030: 9.35% CAGR
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Form, By Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Triton Minerals Limited (Australia), Hexagon Resources Limited (Australia), Mason Graphite Inc. (Canada), Focus Graphite Inc. (Canada), NextSource Materials Inc. (Canada), SGL Carbon S.E. (Germany), Mersen S.A. (France), GrafTech International Ltd. (U.S.), Graphite India Limited (India), HEG Limited (India)
  Key Market Opportunities   Graphite is exploited in nuclear moderator manufacture.
  Key Market Drivers

  • The increasing steelmaking operations.
  • The rising demand for fuel-efficient aircraft

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    Frequently Asked Questions (FAQ) :

    Graphite market was valued at USD 16 billion in 2021 and is expected to reach USD 30.56 Billion by 2030

    Some of the players in the value supply chain are CM Carbon, Huarui Carbon New Material Co. Ltd, Beijing Great Wall Co. ltd of China, and Hebel Rubang Carbon Products Co. Ltd

    APAC graphite market is slated to register the highest CAGR over the forecast period.

    Investing time and funds in research and development strongly tends to develop natural graphite, providing the offers with high prices and majorly giving priority towards the expansion of the industry are the trends that are being followed by the market.

    Adoption of strategies by the competitors, investing huge amounts in graphite production, graphite market revenue in data analytics, adopting the autonomous technology, using light components in the aircraft industry, expanding the business portfolios of the key players creates more opportunities for rising market value.