Graphite Market Analysis: Projected to Reach USD 13.35 Billion by 2032 with a CAGR of 6.9%

Key companies covered in the graphite market report are AMG, Asbury Carbons, Eagle Graphite, Grafitbergbau Kaisersberg GmbH, Imerys S.A., and others.

PUNE, MAHARAHTRA, INDIA, February 28, 2025 /EINPresswire.com/ -- The global graphite market size was valued at USD 7.80 billion in 2024. The market is projected to grow from USD 8.32 billion in 2025 to USD 13.35 billion by 2032, exhibiting a CAGR of 6.9% during the forecast period. Asia Pacific dominated the graphite market with a market share of 56.02% in 2024.

Graphite refers to a naturally soft and lightweight element featuring nonmetallic and metallic attributes, which make it suitable for different industrial applications. The high deployment of the product in refractories, coupled with the rising demand for Electric Arc Furnaces (EAF), is propelling the market growth. Fortune Business Insights™ provides this information in its research report, titled “Graphite Market, 2025-2032”.

𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅: https://www.fortunebusinessinsights.com/enquiry/sample/graphite-market-105322

➡️ Report Scope:

Market Size Value in 2025: $ 8.32 Bn
Market Size Value in 2032: $ 13.35 Bn
Growth Rate: CAGR of 6.9% (2025-2032)
Base Year: 2024
Historical Data: 2019-2023
Years Considered for the Study: 2019-2032
No. of Report Pages: 253

➡️Segmentation:

Massive Uptake of Synthetic Products to Impel Segment Expansion
On the basis of product, the market is bifurcated into synthetic and natural. The synthetic segment captured the largest market share in 2023. The extensive uptake of synthetic products among consumers is augmenting the segment’s growth.

Surging Demand from the Aerospace Industry to Propel Refractories Segment Growth
In terms of application, the market is divided into friction products, foundries, recarburising, batteries, refractories, lubricants, and others. The refractories segment accounts for the largest graphite market share. The growing demand from industries, including building, metal manufacturing, aerospace, and automotive, coupled with quick industrial development, are fostering the refractories segment expansion.

From the regional perspective, the market is segmented into Latin America, North America, Asia Pacific, North America, and the Middle East & Africa.

➡️ Report Coverage

The market research report highlights the major strategic moves undertaken by prominent companies in detail. It further offers vital insights into the notable industry developments, key segments, and the impact of the COVID-19 pandemic on market growth. Other aspects of the report include the key driving and restraining factors affecting the market growth.

➡️ List of Key Players Mentioned in the Report:
• AMG (Germany)
• Asbury Carbons (U.S.)
• Eagle Graphite (Canada)
• Grafitbergbau Kaisersberg GmbH (Austria)
• Imerys S.A. (France)
• Stoker Concast Pvt. Ltd. (India)
• BTR NEW Material Group Co., Ltd. (China)
• Nacional de Grafite (Brazil)
• SGL Carbon (Germany)
• Mineral Commodities Ltd. (Australia)
• Superior Graphite (U.S.)
• Tirupati Carbons & Chemicals Pvt. Ltd. (India)

𝐁𝐫𝐨𝐰𝐬𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂: https://www.fortunebusinessinsights.com/graphite-market-105322

➡️ Drivers and Restraints:

Surging Demand from the Refractory Industry to Escalate the Market Growth
The product is highly resistant to higher temperatures or heat; hence, the refractory industry is its largest end-user, holding almost 50% of the global demand. Moreover, the product is deployed by this industry for the development of products for high-temperature conditions, including incinerators, furnaces, reactors, and linings for kilns. Thus, these factors are fostering the graphite market growth.
However, the growing export duties may hamper the market’s expansion.

➡️Challenges Facing the Graphite Market

Despite its promising outlook, the graphite market faces several challenges:
• Supply Chain Constraints
The concentration of graphite production in a few countries, particularly China, creates supply chain vulnerabilities. Geopolitical tensions and export restrictions could disrupt supply, prompting countries to seek alternative sources.
• Environmental Concerns
Graphite mining and processing can have significant environmental impacts, including deforestation, water pollution, and carbon emissions. Sustainable mining practices and recycling initiatives are essential to mitigate these effects.
• Technological Barriers
While graphite is a key material for batteries, researchers are exploring alternatives, such as silicon anodes, which could reduce reliance on graphite in the future.
• Price Volatility
Fluctuations in graphite prices, driven by supply-demand imbalances and geopolitical factors, pose challenges for manufacturers and end-users.

➡️Regional Insights:

Asia Pacific Led Due to High Product Usage in Steel Industry
Asia Pacific occupied the largest share of the market in 2023. The region is a hub for automotive, lithium-ion batteries, and steel production. The product’s heavy development in these three industries drives regional growth.
North America’s market growth is slated to flourish owing to the region’s plan to expand its battery production capacity.

➡️Future Outlook and Opportunities

The graphite market is poised for robust growth, driven by the global transition to clean energy and technological advancements. Key opportunities include:
• Expansion of Mining and Processing Capabilities
Investments in new mining projects and processing facilities, particularly outside China, will help diversify supply chains and meet growing demand.
• Recycling and Sustainability
Developing efficient recycling methods for graphite from used batteries and industrial waste can reduce environmental impacts and create a circular economy.
• Innovation in Graphite-Based Materials
Research into graphene and other graphite derivatives could unlock new applications, further expanding the market.
• Strategic Partnerships
Collaboration between governments, mining companies, and technology firms will be crucial to ensuring a stable and sustainable graphite supply.

➡️ Key Industry Development:

February 2023: POSCO Chemical began constructing its second manufacturing plant for synthetic graphite anode materials, capable of producing 10 kilotons annually. With this expansion, the North Gyeongsang plant's total capacity will increase to 18 kilotons.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.fortunebusinessinsights.com/enquiry/queries/graphite-market-105322

➡️ Read Related Insights:

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com
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