The global market value of graphite is forecast to reach approximately ** billion U.S. dollars in 2028. That is a forecast increase of approximately ** billion U.S. dollars from the market value in 2022. Electric vehicles to drive market growth Although global production levels of graphite have remained fairly stable over the past decade, demand for the material is expected to increase over the coming years. The use of graphite electrodes in the steel industry has helped to boost the market, but the material is becoming increasingly sought after by the automotive industry due it being an essential element in the making of lithium-ion batteries. China, as the world's largest producer of consumer electronics, is the world’s largest producer of graphite by a large margin, with 850,000 production amounting to an estimated ******* metric tons. From graphite to graphene Forecasts suggest the market for lithium-ion batteries could exceed 100 billion U.S. dollars by 2025 as worldwide demand for electric vehicles increases. The anodes used within these batteries are made from graphite, but graphene could soon be used to drive development for the future. Graphene is an allotrope of carbon that has a special set of properties and can be produced from graphite. The use of graphene in lithium-ion batteries has the potential to increase the lifespan of the battery and allow faster charge times.
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In North America, the graphite market witnessed notable fluctuations in Q1 2025, shaped by shifting supply chains, trade policy uncertainties, and evolving industrial demand. The region's reliance on imported graphite particularly from China and emerging African suppliers kept markets sensitive to global developments and logistics costs. In the United States, graphite prices began the quarter with a marginal rise, supported by steady manufacturing activity and a rebound in automotive and infrastructure demand.
This statistic displays the global graphite price from 2011 to 2014, and a forecast up to 2020, by flake grade. In 2016, the price for large graphite flakes is expected to reach *** U.S. dollars per metric ton. Until 2020, the price for this flake grade was expected to increase to ***** dollars per metric ton. Graphite prices depend on two factors – flake size and purity. Large flake (+** mesh) and high carbon (+**%) varieties command the premium pricing segment.
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The global graphite market is estimated to report a value of USD 14.2 billion in 2025 and further reach USD 26 billion by 2035, achieving a CAGR of 6.0% during the forecast period. Graphite demand is increasingly being shaped by its role in electric vehicle batteries and energy storage systems, as well as longstanding industrial uses such as lubricants and refractories.
Metric | Value |
---|---|
Industry Size (2025E) | USD 14.2 Billion |
Industry Value (2035F) | USD 26 Billion |
CAGR (2025 to 2035) | 6.0% |
Country wise Insights
Country | CAGR (2025 to 2035) |
---|---|
United States | 11.7% |
Country | CAGR (2025 to 2035) |
---|---|
United Kingdom | 13.2% |
Country | CAGR (2025 to 2035) |
---|---|
European Union | 11.2% |
Country | CAGR (2025 to 2035) |
---|---|
Japan | 3.9% |
Country | CAGR (2025 to 2035) |
---|---|
South Korea | 5.7% |
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United States - Producer Price Index by Industry: Carbon and Graphite Product Manufacturing was 242.32200 Index Jun 1985=100 in April of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Carbon and Graphite Product Manufacturing reached a record high of 291.90000 in January of 2019 and a record low of 96.00000 in January of 1988. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Carbon and Graphite Product Manufacturing - last updated from the United States Federal Reserve on June of 2025.
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The global graphite market size reached a value of around USD 17.97 Billion in 2024. The market is further expected to grow at a CAGR of 5.40% between 2025 and 2034, reaching a value of around USD 30.41 Billion by 2034.
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As per Cognitive Market Research's latest published report, the Global Isomolded Graphite market size will be $26,277.09 Million by 2028. Isomolded Graphite Industry's Compound Annual Growth Rate will be 5.12% from 2023 to 2030. What is Driving Isomolded Graphite Market?
Growing demand in consumer electronic devices and connected devices
Consumer electronic devices become the necessary parts of everyone’s day to day life. However, perforation of consumer electronic devices and connected devices is increasing significantly in most of the countries.
Increasing adoption of integrated circuits and system on chips in various automotive vehicles is positively supporting the adoption of semiconductor equipment. Increased adoption of advanced connected components in the automotive industry is one of the key growth factors of the semiconductor market across the globe. In addition to this, the automotive industry will be a target industry for the semiconductor manufacturers due to the shifting towards electric vehicles.
In fact, increasing penetration of smart connected devices and industrial components coupled with technological advancements of the various industry verticals are projected to be the major driving forces of the semiconductor industry.
The benefit of semiconductor devices in consumer electronics is booming with technological advancement in consumer electronics products. The use of semiconductor with the original equipment manufacturers (OEMs), designers, and engineers are focusing on designing cutting-edge semiconductor devices having exceptional features such as robotics and different types of sensors. Such devices are in demand from several industries, including consumer electronics.
With the increasing demand for consumer electronic products, such as flat-screen TVs, refrigerators, washing machines, smart watches, mobile phones, and air conditioners, it has become necessary to produce them in large quantities. Hence, rise in the demand in consumer electronic devices and connected devices boost the market of isomolded graphite globally.
Restraints for Isomolded Graphite Market
Fluctuation and inconsistency in raw material prices.(Access Detailed Analysis in the Full Report Version)
Opportunities for Isomolded Graphite Market
Rise in the demand of industrial automation.(Access Detailed Analysis in the Full Report Version)
Definition of Isomolded Graphite
Isomolded graphite is also known as Isostatically Pressed Graphites or Isostatic Graphite. It is a different and unique graphite material that varies from other artificial graphites with improved physical characteristics and isotropy over the whole structure. Isostatic graphite has extremely fine graphite that is utilized in areas where conventional grain graphites have insufficient mechanical characteristics. Domestic producers in the CIS nations, notably Ukraine, were interested in this lucrative field after 2006 when the global solar industry was rapidly expanding. Since then, the major manufacturers have continuously expanded the isostatic graphite area and improved the production technology.
The manufacture of isostatic graphite is complicated, a multi-stage process requiring, the use of powerful specialist pressing devices, the application of sophisticated heat treatment mode, and meticulous raw material preparation. This raw material mixture is crushed into rectangular or circular blocks using a Cold-Isostatic-Press (CIP). This method in comparison with other technologies such as extrusion or vibration molding can create artificial graphite in isotropic form by crushing it isostatically from all sides.
Isostatic graphite usually has the lowest particle diameters of all graphites. This provides material characteristics such as extremely high thermal and chemical resistance, excellent thermal shock resistance, high electrical conductivity, high thermal conductivity, and increasing strength with rising temperature. With these resistance characteristics, composites manufactured of isostatic graphite material are equivalent to steel. As a result, isostatic graphite now accounts for a significant portion of the fine-grain graphite industry and has been used in over 30 sectors ranging from nuclear and metallurgical to semiconductor, photovoltaic, continuous casting, EDM, and many more.
Graphite is so important in some sectors that they can't f...
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In June 2023, the price of Graphite reached $4,328 per ton (CIF, Poland), marking an 11% increase compared to the previous month.
Synthetic Graphite Market Size 2025-2029
The synthetic graphite market size is forecast to increase by USD 6.86 billion at a CAGR of 5.3% between 2024 and 2029.
The market is experiencing significant growth, driven primarily by the increasing demand for high-purity synthetic graphite in various industries, including metallurgical applications. This trend is attributed to the superior properties of synthetic graphite, such as its high electrical conductivity, thermal stability, and resistance to corrosion. However, the market growth is tempered by certain challenges. Firstly, the high cost of synthetic graphite compared to natural graphite remains a significant barrier to widespread adoption. The market is driven by the increasing demand for Terawatt-Hours of energy storage from EVs and the shift towards renewable energy. This cost differential is due to the more complex and energy-intensive production process of synthetic graphite. Additionally, regulatory hurdles impact adoption, as stringent environmental regulations and safety concerns necessitate significant investments in production facilities and compliance measures.
Supply chain inconsistencies further complicate matters, as the market relies on a limited number of producers, leading to potential price volatility and supply shortages. Despite this, opportunities exist for companies to capitalize on the expanding use of synthetic graphite in advanced technologies such as lithium-ion batteries, fuel cells, and solar panels. Companies seeking to capitalize on the opportunities in the market must navigate these challenges effectively, focusing on cost reduction strategies, regulatory compliance, and supply chain resilience.
What will be the Size of the Synthetic Graphite Market during the forecast period?
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The market is experiencing significant activity and trends as the energy transition gains momentum. Battery management systems are increasingly utilizing synthetic graphite in proton exchange membrane fuel cells for improved energy density and power density. The digital transformation is driving the need for faster charging times, leading to advancements in battery technology, such as solid-state batteries and flow batteries. Thermal runaway risks are a concern for battery manufacturers, necessitating the development of advanced anode materials and cathode materials. Hydrogen fuel cells, another area of focus, require high-performance synthetic graphite for fuel cell stacks. Renewable energy sources are driving the demand for resource efficiency, and synthetic graphite's role in energy storage systems is becoming increasingly important. It is also used in the chemical sector for the production of aluminum, calcium carbide, and other alloys.
Big data, artificial intelligence, and machine learning are revolutionizing battery performance analysis, enabling predictive maintenance and optimizing charging time. Circular economy principles are guiding the development of battery materials, with a focus on reducing waste and improving material science. The pursuit of carbon neutrality is further propelling the market forward, as synthetic graphite's role in battery production aligns with this goal. In the realm of charging infrastructure, wireless charging and fast charging are gaining traction, necessitating the production of large quantities of high-quality synthetic graphite. One of the primary drivers is the electric vehicle (EV) industry, where synthetic graphite is essential for producing Terawatt-Hours of energy from lithium-ion batteries. The market is expected to continue growing as the demand for energy storage solutions increases, driven by the global shift towards renewable energy and the digital transformation.
How is this Synthetic Graphite Industry segmented?
The synthetic graphite industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Distribution Channel
Direct sales
Distributors
Application
Electrodes
Metallurgy
Parts and components
Nuclear
Others
Grade Type
High-purity graphite
Fine-grain graphite
Coarse-grain graphite
Isotropic graphite
Geography
North America
US
Canada
Europe
France
Germany
UK
APAC
Australia
China
India
Japan
South Korea
Rest of World (ROW)
By Distribution Channel Insights
The direct sales segment is estimated to witness significant growth during the forecast period. The market is characterized by a dynamic supply chain that fosters direct relationships between manufacturers and customers through direct sales channels. This approach allows for detailed technical communication and product knowledge exchange, particularly beneficial in industr
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Global Natural Graphite Market Size Value by Country, 2023 Discover more data with ReportLinker!
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Forecast: Natural Graphite Market Size Value in France 2022 - 2026 Discover more data with ReportLinker!
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Graphite market study report describes the industry's current status including production insights, target market analysis, emerging trends, and detailed forecasts on the market's trajectory.
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The Synthetic Graphite market study report provides detailed information on forecasts by current market dynamics and growth opportunities.
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Learn about the increasing demand for natural graphite in Europe and how the market is expected to grow over the next decade. Market performance is forecasted to expand with a CAGR of +1.5% in volume and +2.0% in value from 2024 to 2035, reaching 190K tons and $240M respectively by the end of 2035.
According to our latest research, the global spherical graphite market size reached USD 3.2 billion in 2024, and it is expected to grow at a robust CAGR of 19.4% from 2025 to 2033. By the end of 2033, the market is forecasted to achieve a value of USD 14.9 billion. This remarkable growth is primarily driven by the surging demand for lithium-ion batteries, particularly in the electric vehicle (EV) and energy storage sectors, which require high-performance anode materials such as spherical graphite. As per our latest research, the market is witnessing accelerated expansion due to rapid technological advancements and the global shift towards sustainable energy solutions.
The primary growth factor fueling the spherical graphite market is the exponential rise in the adoption of lithium-ion batteries across various industries, notably automotive and electronics. The proliferation of electric vehicles, supported by stringent emission regulations and government incentives worldwide, has spurred a dramatic increase in lithium-ion battery production. Spherical graphite is a critical anode material in these batteries due to its superior conductivity, high packing density, and excellent cycle stability. As automakers and battery manufacturers ramp up production capacities, the demand for high-quality spherical graphite continues to soar, further bolstering market growth. Additionally, advancements in battery technology aimed at improving energy density and performance are intensifying the need for premium spherical graphite, thereby creating lucrative opportunities for market participants.
Another significant driver is the expansion of the electronics and energy storage sectors, which heavily rely on lithium-ion batteries for a range of applications, from smartphones and laptops to renewable energy storage systems. The increasing penetration of renewable energy sources, such as solar and wind, necessitates efficient and reliable energy storage solutions to address intermittency issues. Spherical graphite’s unique properties make it indispensable in battery manufacturing, as it enhances battery lifespan and performance. Furthermore, the ongoing miniaturization of electronic devices and the rising demand for portable power sources are expected to sustain the upward trajectory of the spherical graphite market. As energy storage becomes a cornerstone of modern energy infrastructure, the role of spherical graphite in enabling these technologies will continue to expand.
In addition to its pivotal role in battery applications, spherical graphite finds substantial use in metallurgy, refractories, and foundry industries. The material's high thermal conductivity, lubricity, and resistance to chemical attack make it ideal for use in high-temperature industrial processes. The growing industrialization in emerging economies, particularly in Asia Pacific, is driving demand for advanced materials like spherical graphite in metallurgical and refractory applications. The versatility of spherical graphite, coupled with its increasing adoption in various end-use industries, is expected to further accelerate market growth over the forecast period. As industries continue to seek materials that offer both performance and sustainability, spherical graphite is poised to benefit from these evolving requirements.
From a regional perspective, Asia Pacific dominates the global spherical graphite market, accounting for the largest share in 2024, followed by North America and Europe. The region’s leadership is attributed to the presence of major battery manufacturers, robust automotive production, and significant investments in renewable energy projects. China, in particular, stands out as a key producer and consumer of spherical graphite, driven by its dominance in the EV and battery supply chain. Meanwhile, North America and Europe are witnessing steady growth, fueled by increasing EV adoption, technological innovations, and supportive regulatory frameworks. Latin America and the Middle East & Africa are emerging as potential growth markets, albeit from a smaller base, as they gradually enhance their industrial and energy storage capabilities.
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The global graphite market is projected to reach USD 32.65 billion by 2033, exhibiting a CAGR of 8.14% during the forecast period (2025-2033). The rising demand for graphite in electrodes, refractories, and lubricants is primarily driving the market growth. Graphite's unique properties, such as high electrical and thermal conductivity, chemical inertness, and thermal stability, make it indispensable in various industrial applications. Key trends in the graphite market include the increasing adoption of synthetic graphite over natural graphite due to its superior performance and cost-effectiveness. The growing demand for graphite in electric vehicles and renewable energy applications is also expected to fuel market expansion. However, factors such as supply chain disruptions, environmental regulations, and price volatility pose challenges to market growth. The market is anticipated to witness significant growth in the Asia Pacific region, particularly in China, India, and Japan, due to the strong demand from key end-use industries in these regions. Recent developments include: In March 2021: SGL Carbon was awarded several million in IPCEI grants for graphite anode products (GAM) in lithium-ion batteries. The SGL Carbon project aims to make revolutionary anode materials in Europe a crucial value-added step in electro-mobility., In November 2021: Gratomic Inc. plans to acquire 100% interest in the Brazilian Graphite Exploration Project this year. With the acquisition of the Brazilian graphite project, Gratomic will be allowed to diversify the former's interests and create a large-scale graphite deposit segment at the Capim Grosso project. It 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., In July 2023: An award-winning technology, built by an American company with help from NETL, utilizes coal waste as an anode material in lithium-ion batteries. An anode is one of two electrodes in a lithium-ion battery, usually made of graphite deposited on copper foil, with graphite representing a significant component of a lithium-ion battery's overall weight and cost. In support of an environmentally sustainable and prosperous energy future, NETL awarded X-MAT®, a division of Semplastics, USD 1 million in 2020 for a three-year project to build polymer-derived ceramic composite anodes.. Notable trends are: The growing use of graphite in the steel industry drives market growth..
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The global market size for natural graphite was valued at approximately USD 1.2 billion in 2023 and is projected to reach around USD 2.5 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period. This impressive growth can be attributed to several factors, including rising demand in the electric vehicle (EV) sector, increasing utilization in energy storage systems, and expanding applications in metallurgy and electronics. As one of the essential raw materials for a variety of industrial applications, natural graphite is poised to experience robust growth in the coming years.
One of the primary drivers of the natural graphite market is the burgeoning electric vehicle (EV) industry. With the global push towards reducing carbon emissions and promoting sustainable energy solutions, the demand for electric vehicles has surged. Natural graphite plays a crucial role in the manufacturing of lithium-ion batteries, which are integral components of EVs. As more countries adopt stringent regulations aimed at curbing greenhouse gas emissions, the demand for natural graphite for battery production is expected to skyrocket, driving the market forward.
In addition to its role in battery production, natural graphite finds extensive applications in energy storage systems. The growing emphasis on renewable energy sources such as solar and wind power necessitates efficient energy storage solutions to manage the intermittent nature of these energy sources. Natural graphite, with its excellent conductivity and stability, is a key material in developing high-performance energy storage systems. This increasing adoption of renewable energy, coupled with advancements in energy storage technologies, is anticipated to significantly boost the natural graphite market.
The metallurgy sector is another substantial contributor to the growth of the natural graphite market. Natural graphite is widely used as a refractory material due to its high melting point and excellent thermal conductivity. It is also employed in foundries and as a component in the production of steel and other alloys. The steady growth of the construction and manufacturing industries, particularly in emerging economies, is expected to drive the demand for natural graphite in metallurgy, further propelling market growth.
Regionally, Asia Pacific dominates the natural graphite market, accounting for the largest share in terms of production and consumption. The region's dominance can be attributed to the presence of major graphite-producing countries such as China and India, as well as the robust growth of end-user industries including automotive, electronics, and metallurgy. North America and Europe also represent significant markets for natural graphite, driven by the increasing adoption of electric vehicles and renewable energy solutions. However, varying regulatory landscapes and geopolitical factors can influence the market dynamics in these regions.
The natural graphite market can be segmented based on product type into flake graphite, amorphous graphite, and vein graphite. Flake graphite is the most commonly used form of natural graphite, known for its high purity and excellent physical properties. It is extensively used in applications such as batteries, refractories, and lubricants. The demand for flake graphite is expected to remain high due to its superior characteristics, making it a preferred choice in high-tech applications such as electric vehicles and energy storage systems.
Amorphous graphite, on the other hand, is less pure and has a more granular structure. It is primarily used in applications where high purity is not a critical requirement. Amorphous graphite finds applications in pencils, lubricants, and foundry facings. The lower cost of amorphous graphite makes it an attractive option for certain industrial applications, contributing to its steady demand in the market.
Vein graphite, also known as lump graphite, is the rarest form of natural graphite. It is characterized by its high crystallinity and purity, making it suitable for specialized applications requiring superior performance. Vein graphite is often used in the production of high-quality refractories, batteries, and certain types of lubricants. Despite its limited availability, the unique properties of vein graphite make it a valuable segment of the natural graphite market.
The market dynamics of each product type are influenced by factors such as availability, cost
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According to Cognitive Market Research, the global Battery-Grade Graphite market size will be USD XX million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Photovoltaic Cells category is the fastest growing segment of the Battery-Grade Graphite industry
Market Dynamics of Battery-Grade Graphite Market
Key Drivers for Battery-Grade Graphite Market
Growing Sales of Electric Vehicles (EVs) to Boost Market Growth
The market for battery-grade graphite is expanding at a substantial rate due to the increasing sales of electric vehicles (EVs). High-purity graphite is essential for EV batteries' anodes, especially those made of lithium-ion batteries. Battery-grade graphite is in greater demand as electric vehicle (EV) adoption soars globally as a result of growing environmental concerns, tighter emissions regulations, and advancements in EV technology. Because of its exceptional energy storage, stability, and conductivity, graphite is crucial for maintaining battery longevity and efficiency. Government subsidies and investments in renewable energy also help to increase the production of EVs, which in turn support the growth of the battery-grade graphite market as producers increase output to keep up with demand.
Growing Applications for Metallurgy and Steel to Drive Market Growth
The market for battery-grade graphite is expanding as a result of its growing use in steel and metallurgy. In addition to being a crucial component in the production of battery anodes for electric cars and energy storage systems, graphite is also used extensively in the steel and metallurgical industries. Graphite is used as a refractory material in the steel industry because it is durable and resistant to high temperatures. The requirement for graphite increases along with the growth of the steel and metalworking industries, as well as with the need for electric vehicles and energy from renewable sources. The growth of the market for battery-grade graphite is significantly driven by its dual application in energy storage and industrial production.
Restraint Factor for the Battery-Grade Graphite Market
High Expenses Associated with Producing Natural Graphite Will Limit Market Growth
The growth of the battery-grade graphite market has been impeded by the prohibitive price of producing natural graphite. The extraction and refinement of natural graphite, especially for battery applications, is an intricate process involving substantial financial outlays for mining, purification, and processing. Furthermore, since the production process uses hazardous chemicals and tight compliance is required, environmental regulations drive up costs. Higher overall production costs result from these difficulties, as well as the requirement for consistent, high-quality materials for lithium-ion batteries. The market's potential for growth is limited since companies find it difficult to scale manufacturing efficiently despite the growing need for energy storage solutions in renewable energy systems and electric vehicles.
Impact of COVID-19 on the Battery-Grade Graphite Market
The market for battery-grade graphite was significantly impacted by COVID-19. Graphite mining and processing were delayed as a result of the pandemic's disruption of international supply chains. Production capacity was decreased by labor availability being impacted by lockdowns and tra...
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In 2024, the global graphite market decreased by -11.1% to $1.5B, falling for the second year in a row after two years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the global market reached the maximum level at $1.9B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
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Forecast: Natural Graphite Market Size Value in Belgium 2022 - 2026 Discover more data with ReportLinker!
The global market value of graphite is forecast to reach approximately ** billion U.S. dollars in 2028. That is a forecast increase of approximately ** billion U.S. dollars from the market value in 2022. Electric vehicles to drive market growth Although global production levels of graphite have remained fairly stable over the past decade, demand for the material is expected to increase over the coming years. The use of graphite electrodes in the steel industry has helped to boost the market, but the material is becoming increasingly sought after by the automotive industry due it being an essential element in the making of lithium-ion batteries. China, as the world's largest producer of consumer electronics, is the world’s largest producer of graphite by a large margin, with 850,000 production amounting to an estimated ******* metric tons. From graphite to graphene Forecasts suggest the market for lithium-ion batteries could exceed 100 billion U.S. dollars by 2025 as worldwide demand for electric vehicles increases. The anodes used within these batteries are made from graphite, but graphene could soon be used to drive development for the future. Graphene is an allotrope of carbon that has a special set of properties and can be produced from graphite. The use of graphene in lithium-ion batteries has the potential to increase the lifespan of the battery and allow faster charge times.