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.

The Graphite Market Report Segments the Industry by Type (Natural Graphite and Synthetic Graphite), Application (Electrodes, Refractories, Casting, and Foundries, Batteries, Lubricants, and Other Applications), End-User Industry (Metallurgy, Electronic, Automotive, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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.

Country wise Insights

The global synthetic graphite market size was USD 8.16 billion in 2024 & is projected to grow from USD 8.71 billion in 2025 to USD 14.63 billion by 2033.
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The Special Graphite Market Report is Segmented by Product Type (Extruded Graphite, Isotropic Graphite, Molded Graphite, and Other Product Types), End-User (Electronics, Photovoltaic, Foundry & Metallurgy, and Other End-Users), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). For Each Segment, The Market Sizing and Forecasts Have Been Done On the Basis of Value (USD).

The global graphite market size was USD 11.12 billion in 2024 & is projected to grow from USD 11.79 billion in 2025 to USD 18.87 billion by 2033.
Report Scope:

Graphite Market size is valued at USD 17.18 billion in 2024 and is projected to reach USD 23 billion by 2030, with a CAGR of around 5%. Explore more!

The Synthetic Graphite Market Report Segments the Industry by Application (Batteries, Metallurgy, and More ), Product Type (Graphite Anode, Graphite Block, and Other Types), End-User Industry (Automotive, Steel and Metals, Energy and Power, Electronics and Electrical, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Global graphite market worth at USD 12.06 Billion in 2024, is expected to surpass USD 23.33 Billion by 2034, with a CAGR of 6.82% from 2025 to 2034.

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.

Forecast: Natural Graphite Market Size Value in India 2022 - 2026 Discover more data with ReportLinker!

The Graphite Market will grow from USD 30.79 Billion in 2024 to USD 42.23 Billion by 2030 at a 5.41% CAGR.

Synthetic Graphite Market size was valued at USD 1893.9 Million in 2024 and is projected to reach USD 2511.31 Million by 2032, growing at a CAGR of 3.59% from 2026 to 2032.Rising Demand from the Electric Vehicle (EV) Industry for Lithium Ion Battery Anodes: The phenomenal surge in the global Electric Vehicle (EV) market is the single most powerful driver for high purity synthetic graphite. Synthetic graphite is an indispensable, non substitutable material for the anode the negative electrode of the ubiquitous lithium ion (Li ion) battery, accounting for a significant portion of the battery's mass.Growth in the Metallurgy Sector, Especially in Steelmaking and Foundries: Despite the explosive growth in battery applications, the metallurgy sector remains a foundational pillar and significant consumer of synthetic graphite.

Graphite Market was valued at USD 9.61 Billion in 2024, and it is projected to reach USD 13.78 Billion by 2030, driven by growing demand for EV batteries

The global Synthetic Graphite Market size was valued at USD 8.40 billion in 2024 and is projected to grow at a CAGR of 6.9% from 2025 to 2034.

Learn more about the Natural Graphite Market Report by Market Research Intellect, which stood at USD 4.2 billion in 2024 and is forecast to expand to USD 8.1 billion by 2033, growing at a CAGR of 8.1%.Discover how new strategies, rising investments, and top players are shaping the future.

Global Natural Graphite Market Size Value by Country, 2023 Discover more data with ReportLinker!

The synthetic graphite market size was USD 5.7 billion in 2024, which is predicted to reach USD 7.8 billion by 2032, growing at a CAGR of 4.1% during 2025-2032.

The size of the Graphite Market was valued at USD 3.62 Million in 2023 and is projected to reach USD 5.09 Million by 2032, with an expected CAGR of 5.00% during the forecast period. Recent developments include: October 2022: Syrah Resources Ltd. announced it would supply a key lithium-ion battery component to South Korea's LG Energy Solution Ltd. According to the agreement, the company was to provide 2 kilotons per annum of graphite to LG Energy Solution Ltd. active anode material (AAM) from 2025 and increase it to at least 10 ktpa after its production capacity at its Vidalia facility in Louisiana., October 2022: Imerys Graphite & Carbon announced the launch of a landmark lithium exploitation project (“the EMILI Project'') at its Beauvoir site (Allier département of France). The project intended to expand Imerys' position as a market leader and expert in Li-ion battery components and complete its product line, which includes synthetic graphite and carbon black, at its production facilities in Willebroek (Belgium) and Bodio (Switzerland).. Key drivers for this market are: Augmenting Demand from the Burgeoning Lithium-ion Battery Industry, Increase In Steel Production in Asia and the Middle East. Potential restraints include: Stringent Environmental Regulations, Other Restraints. Notable trends are: The Metallurgy Segment is Expected to Dominate the Market.

The Global Graphite Anode for LIB Market is segmented by Type (Natural Graphite and Synthetic Graphite) and Geography (Asia-Pacific, North America, Europe, and the Rest of the World). The report offers market size and forecast in terms of value (USD million) for the above segments.