Graphite Market Size to Reach to Hit US$ 45.65 billion by 2031, Exclusive Report by The Insight Partners

Graphite Market Share Experiences Growth Due to Surge in Steel Production. Key companies are Gratomic Inc, Leading Edge Materials Corp, China Graphite Group Ltd, Pingdingshan Wanhui Graphite Co Ltd, Graphit Kropfmühl GmbH, GES Europe GmbH, Hunan Xintan New Material Co Ltd, KAIYU INDUSTRIAL (HK) LTD, Graphite India Ltd, and Matrass C-Graphene.

/EIN News/ -- US & canada, April 28, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global graphite market is observing significant growth owing to the surging steel production.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the graphite market comprises a vast array of applications that are expected to register growth during the coming years.

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Overview of Report Findings

1. Market Growth: The graphite market is expected to reach US$ 45.65 billion by 2031 from US$ 20.38 billion in 2024, at a CAGR of 12.3% during the forecast period. Graphite is a crucial part of unconventional technologies such as renewable energy storage, electrical vehicle (EV) batteries, and sustainable electronics. In response to the global shift toward clean energy and electrification, the adoption of graphite is increasing due to its use in lithium-ion batteries that power EVs and store renewable energy.
2. Rising Demand for Electric Vehicles: Graphite plays an influential role in the production of lithium-ion batteries, which serve as the primary power source for EVs. It is a key component of the anode of these batteries, wherein it helps store and release energy. As the adoption of EVs accelerates, the demand for high-quality graphite to manufacture these batteries has surged. Lithium-ion batteries require a substantial amount of graphite because of its high efficiency in energy storage, owing to its ability to withstand multiple charge and discharge cycles.
3. Increasing Investments in Renewable Energy Sectors: Clean (i.e., renewable) energy has gained momentum owing to the depletion of nonrenewable energy resources. Countries are focusing on generating clean energy to reduce carbon footprints. Thus, the utilization of renewable energy sources such as solar, wind, and hydropower has become increasingly important with efforts to transition away from fossil fuels. According to the International Energy Agency (IEA), the cumulative renewable electricity capacity by wind surged from 825.1 gigawatts (GW) in 2021 to 1,255.9 GW in 2024. Similarly, the cumulative renewable electricity capacity of solar PV rose from 949.0 GW in 2021 to 1,954.6 GW in 2024. Graphite plays a critical role in improving the performance of energy storage systems, energy transmission, and overall renewable energy infrastructure.
4. Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. North America is expected to register the highest CAGR during the forecast period.

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Market Segmentation

• Based on type, the graphite market is segmented into natural and synthetic. The synthetic segment held a larger share of the graphite market in 2024.
• By form, the graphite market is segmented into powder, flake, granules, electrode, and others. The flake segment held the largest share of the graphite market in 2024.
• In terms of application, the graphite market is segmented into batteries, lubricants, refractories, friction products, electrode, and others. The electrode segment held the largest share of the graphite market in 2024.
• The graphite market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Key Players: A few major companies operating in the graphite market include GES Europe GmbH, Graphit Kropfmühl GmbH, Pingdingshan Wanhui Graphite Co., Ltd., China Graphite Group Limited, Leading Edge Materials Corp, SGL Carbon SE, Ceylon Graphite Corp, Imerys SA, Graphite Central, and Nanjing GRF Carbon Material Co., Ltd.
• Trending Topics: A High Focus on Graphite Recycling and the Growing Adoption of Electric Vehicles, etc.

Global Headlines on Graphite

• Ceylon Graphite and GES Europe Agree to Purchase and Distribution Agreement."
• SGL Carbon builds on Diverse Natural Graphite Supply Chains."
• Technology partnership with E-Works Mobility."
• Joint Venture Brembo SGL Carbon Ceramic Brakes (BSCCB) to Expand Production Capacity in Germany and Italy."

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Conclusion

Automotive, electronics, and energy are the crucial sectors utilizing graphite. The adoption of graphite is driven by the surge in steel production and the rise in demand for electric vehicles. As countries focus on sustainable energy solutions, the ongoing transition to EVs is fueling the need for high-performance graphite materials, particularly for lithium-ion batteries. Countries such as Germany, France, and the UK lead this transformation by prioritizing the advancement of green technologies, along with promoting the local production of essential raw materials. Further, the increasing investments in renewable energy sectors are expected to offer lucrative growth opportunities for the market during the forecast period.

The report from The Insight Partners, therefore, provides several stakeholders—including raw material suppliers, manufacturers, distributors/ suppliers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Contact Person: Ankit Mathur
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