Graphite Market Insights: In-Depth Look at Growth Trends, Market Size, and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGraphite Market?
The graphite market is anticipated to grow due to the rising demand for electric vehicles (EVs). Graphite is essential for producing lightweight, high-energy-density lithium-ion batteries used in EVs. According to the International Energy Agency, electric vehicle sales in 2023 grew by 35%, with 3.5 million more cars sold than in 2022. As the demand for EVs continues to increase, so will the need for graphite.
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#What Are the Key Projections for the CAGR of the Graphite Market From 2025 to 2034?
The graphite market has grown strongly in recent years. It is expected to grow from $1.21 billion in 2024 to $1.31 billion in 2025, at a CAGR of 7.8%. Growth is driven by demand from the steel industry, the battery and energy storage sectors, refractories and foundry industries, the automotive sector, and emerging markets.
The graphite market is projected to grow strongly, reaching $1.72 billion by 2029 at a CAGR of 7.1%. This growth is driven by the expansion of electric vehicles (EVs), energy storage advancements, and global industrialization. Major trends include electrification, advanced materials, additive manufacturing, and the rise of digitalization and connectivity.
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What Are the Major Market Players Making an Impact on theGraphite Market Growth?
Major companies operating in the graphite market include Graphite India Limited, Mason Graphite Inc., SGL Carbon SE, GrafTech International Holdings Inc, Triton Minerals Ltd., Alabama Graphite Corp., American Graphite Technologies, Anson Resources Ltd., Archer Materials Ltd., China Carbon Graphite Group, First Graphene Limited, Showa Denko KK, GrafTech International Ltd., BTR New Material Group Co. Ltd., Shanshan Technology Co. Ltd., Lianyungang Jinli Carbon Co. Ltd, Weaver Industries Inc., DMC Global Inc., Mercer Gasket & Shim Inc., Nippon Graphite Fiber Co. Ltd., Zoltek Corporation, Graphite One Inc., NextSource Materials Inc., Syrah Resources Ltd., Novonix Ltd., Elcora Advanced Materials Corp., Graphene Manufacturing Group, NanoXplore Inc., Asbury Carbons Inc., Zentek Ltd.
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How Are the Key Segments of the Graphite Market Driving Opportunities and Innovations?
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
Subsegments:
1) By Flake Graphite: Coarse Flake Graphite, Fine Flake Graphite
2) By Non-Flake Graphite: Amorphous Graphite, Lump Graphite
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theGraphite Market?# Market Expansion?
Asia-Pacific was the largest region in the graphite market in 2023. South America was the second largest region in the graphite market. The regions covered in the graphite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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