Graphite Market Size (2024 - 2029)

Graphite Market Analysis

The Graphite Market size is estimated at USD 3.62 billion in 2024, and is expected to reach USD 4.63 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).

The COVID-19 outbreak presented a challenging industry arena for the graphite market, as it slowed down the demand from the key end-user industries, such as electronics, metallurgy, and automotive (including electric vehicles), owing to the lockdown measures of the pandemic. Furthermore, the production facilities of electronic parts were halted due to the logistics slowdown and unavailability of the workforce across the world. However, the sector has been recovering well since restrictions were lifted and operations were resumed.

• Over the short term, augmenting demand from the burgeoning lithium-ion battery industry and an increase in steel production in Asia and the Middle East are significant factors driving the growth of the market studied.
• However, stringent environmental regulation is a key factor anticipated to restrain the growth of the target market over the forecast period.
• Nevertheless, the increasing application of graphite in green technologies is likely to create lucrative growth opportunities for the global market soon.
• Asia-Pacific is estimated to witness healthy growth over the assessment period in the graphite market due to the wide usage of graphite in countries such as India, China, Japan, and others.

Graphite Industry Segmentation

Graphite is an allotrope (chemically comparable in structure modification of carbon) with both metallic and non-metallic properties that benefit a wide range of end-user sectors. Furthermore, the unique properties of graphite, such as high thermal and electrical conductivity, offer innovative batteries and developing technologies to traditional steel manufacturing.

The graphite market is segmented by type, application, end-user industry, and geography. By type, the market is segmented into natural graphite and synthetic graphite. By application, the market is segmented into electrodes, refractories, casting, foundries, batteries, lubricants, and other applications. In the case of the end-user industry, the market is segmented into electronics, metallurgy, automotive (including EV/HEV vehicles), and other end-user industries. The report also covers the market size and forecasts for the graphite market in 16 countries across the major regions. For each segment, the market sizing and forecasts are based on volume (kilotons) and revenue (USD).