The Graphite Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Graphite Global Market Report 2024, The graphite market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to demand from steel industry, battery and energy storage, refractories and foundry industry, automotive industry, emerging markets.
The graphite market size is expected to see strong growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electric vehicle (ev) growth, energy storage, battery technology advancements, infrastructure development, global industrialization. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
The growing demand for electric vehicles is expected to propel the growth of the graphite market going forward. Electric vehicles (EVs) are automobiles powered by electricity stored in batteries, eliminating the need for traditional internal combustion engines. Graphite is used in electric vehicles to make lightweight and high-energy-density lithium-ion batteries, serving as the anode material for efficient energy storage and release. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 compared to 2020, which is nearly 9% of sales share, and increased by 4% points in 2021 as well, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles will drive the graphite market.
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The graphite market covered in this report is segmented –
1) By Type: Flake Graphite; Non-Flake Graphite
2) By Product: Natural Graphite; Synthetic Graphite
3) By Flake Size: Jumbo; Large; Medium; Small; Fine
4) By Application: Refractories; Batteries; Lubricants/Crucibles; Foundry; Pencils; Other Applications
The graphite market report table of contents includes:
1. Executive Summary
- Graphite Market Characteristics
- Graphite Product/Service Analysis -Product/Service Examples
- Graphite Market Trends And Strategies
- Graphite Market – Macro Economic Scenario
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68. Global Graphite Market Competitive Benchmarking - Global Graphite Market Competitive Dashboard
- Key Mergers And Acquisitions In The Graphite Market
- Graphite Market Future Outlook and Potential Analysis
- Appendix
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