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The Global Graphite Market 2024-2035

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  • Published: June 2024
  • Pages: 244
  • Tables: 43
  • Figures: 37

 

Graphite is used across multiple industries such as automotive, steel-making, powder metallurgy, fuel cells, and flame retardants.  Graphite is a critical raw material for the green transition and demand is increasing in markets including electric vehicles and green energy storage. Huge growth in the electric vehicle sector has driven the industry’s graphite requirements as various widely-used lithium-ion batteries – from LFP to NCM cathodes – use graphite anodes. Both natural and synthetic graphite play a key role in the electric vehicle (EV) and energy storage system (ESS) markets. Each battery anodes contains 50-100kg, with both synthetic and natural graphite.  Synthetic graphite dominates this market, but in recent years non-Chinese product developers have been altering chemistries in an bid to lower emissions and meet tighter ESG standards. Desirable properties of graphite include:

  • good conductor of heat and electricity.
  • high regular stiffness and strength.
  • maintains firmness and strength up to temperature more than 3600 °C
  • highly lubricating material with chemical inertness and corrosion resistance. 

 

China is the world's number one producer and consumer of graphite, accounting for 60% of global natural flake supply, 99% of uncoated spherical graphite and over 90% of natural anode, but the United States is making major funding available for graphite production in the US.

 

The Global Graphite Market 2024-2035 is an extensive and in-depth market research report that provides crucial insights into the graphite industry. This comprehensive study offers a detailed analysis of the global graphite market, covering various types of graphite, their applications, market trends, and future projections across multiple industries.

Report contents include:

  • Market Overview:
    • introduction to graphite, its types (natural and synthetic), and their unique properties.
    • different classifications of natural graphite (flake, amorphous, and crystalline vein) and synthetic graphite (primary and secondary)
    • processing methods and applications.
  • Market Size and Growth Projections:
    • detailed analysis of global graphite production and demand from 2016 to 2035, segmented by graphite type (natural and synthetic) and end-use markets
    • insights into current market dynamics and future growth prospects.
  • Technology and Innovation:
    • technologies in graphite production, processing, and application, including advancements in spherical graphite and expandable graphite
    • graphene, its production methods, and potential market impact.
  • Analysis of different cathode chemistries.
  • Market Drivers and Challenges: factors promoting graphite market growth, such as the rise of electric vehicles and renewable energy, as well as challenges hindering market expansion, including supply chain issues and environmental concerns.
  • Regional Analysis: Comprehensive breakdown of graphite demand by region, with a focus on key markets such as China, Asia-Pacific, North America, Europe, and Brazil. The report provides insights into regional market dynamics, production capacities, and consumption patterns.
  • End-use Market Analysis: Detailed examination of major graphite applications, including:
    • Lithium-ion batteries
    • Refractory manufacturing
    • Steel production
    • Electronics
    • Fuel cells
    • Nuclear industry
    • Lubricants
    • Friction materials
    • Flame retardants
    • Solar and wind energy
  • Demand forecasts from the EV and ESS markets and from different car types and battery chemistries 
  • Supply Chain Analysis: Overview of the graphite market supply chain, from mining and processing to end-use applications, highlighting key players at each stage.
  • Pricing Analysis: Historical and current pricing trends for various graphite types and grades. Price forecasts for graphite.
  • Competitive Landscape: Profiles of over 100 key players in the graphite industry, including both natural and synthetic graphite producers, covering their production capacities, market focus, and recent developments. Companies profiled include Black Rock Mining, Evolution Energy, GrafTech International, Gratomic, Graphite India, Leading Edge Materials, NextSource Materials, Nippon Carbon, Reflex Advanced Materials Corp., Renascor Resources, SEC Carbon, SGL Group, Showa Denko, Syrah Resources, Talga Group, Tirupati Carbon & Graphite, Tokai Carbon, and Volt Resources (full list of companies profiled in table of contents).
  • Emerging Trends: Analysis of emerging trends in the graphite market, such as the increasing demand for high-purity graphite in advanced technologies and the growing interest in graphene-based applications.

 

 

 

Download table of contents

1             RESEARCH METHODOLOGY              12

 

2             INTRODUCTION          13

  • 2.1        Types of graphite         15
    • 2.1.1    Natural vs synthetic graphite               16
  • 2.2        Natural graphite           18
    • 2.2.1    Classification 19
    • 2.2.2    Processing       20
    • 2.2.3    Flake    20
      • 2.2.3.1 Grades               21
      • 2.2.3.2 Applications   21
      • 2.2.3.3 Spherical graphite      24
      • 2.2.3.4 Expandable graphite 24
    • 2.2.4    Amorphous graphite 25
      • 2.2.4.1 Applications   25
    • 2.2.5    Crystalline vein graphite         26
      • 2.2.5.1 Applications   27
  • 2.3        Synthetic graphite      28
    • 2.3.1    Classification 28
      • 2.3.1.1 Primary synthetic graphite    29
      • 2.3.1.2 Secondary synthetic graphite             29
    • 2.3.2    Processing       30
      • 2.3.2.1 Processing for battery anodes            30
    • 2.3.3    Issues with synthetic graphite production  31
    • 2.3.4    Isostatic Graphite       31
      • 2.3.4.1 Description     31
      • 2.3.4.2 Markets              32
      • 2.3.4.3 Producers and production capacities           33
    • 2.3.5    Graphite electrodes   33
    • 2.3.6    Extruded Graphite      34
    • 2.3.7    Vibration Molded Graphite    35
    • 2.3.8    Die-molded graphite 36
  • 2.4        New technologies       36
  • 2.5        Recycling of graphite materials          37
  • 2.6        Applications of graphite         37
  • 2.7        Graphite pricing (ton)               39
    • 2.7.1    Pricing in 2024              40
  • 2.8        Graphene         43
    • 2.8.1    CVD Graphene              48
    • 2.8.2    Graphene nanoplatelets         50
    • 2.8.3    Graphene oxide and reduced Graphene Oxide        51
    • 2.8.4    Markets and applications      52
    • 2.8.5    Prices  61
    • 2.8.6    Graphene production capacities      62
    • 2.8.7    Graphene producers 64

 

3             MARKETS FOR GRAPHITE      75

  • 3.1        Global production of graphite             75
    • 3.1.1    The graphite market in 2024 and beyond     75
    • 3.1.2    China dominance       77
    • 3.1.3    United States subsidies/loans and tariffs on Chinese imports     77
    • 3.1.4    Global mine production and reserves of natural graphite 77
    • 3.1.5    Global graphite production in tonnes, 2016-2023 78
    • 3.1.6    Estimated global graphite production in tonnes, 2024-2035         79
    • 3.1.7    Synthetic graphite supply      81
  • 3.2        Global market demand for graphite by end use market 2016-2035, tonnes        82
    • 3.2.1    Natural graphite           82
    • 3.2.2    Synthetic graphite      83
  • 3.3        Demand for graphite by end use markets, 2023     84
  • 3.4        Demand for graphite by end use markets, 2035     85
  • 3.5        Graphite market developments 2020-2024              86
  • 3.6        Demand by region      90
    • 3.6.1    China  91
      • 3.6.1.1 Diversification of global supply and production     92
    • 3.6.2    Asia-Pacific    92
      • 3.6.2.1 Synthetic graphite      92
      • 3.6.2.2 Natural graphite           94
    • 3.6.3    North America              95
      • 3.6.3.1 Synthetic graphite      95
      • 3.6.3.2 Natural graphite           97
    • 3.6.4    Europe                98
      • 3.6.4.1 Synthetic graphite      99
      • 3.6.4.2 Natural graphite           100
    • 3.6.5    Brazil   102
  • 3.7        Factors that aid graphite market growth      102
  • 3.8        Factors that hinder graphite market growth              103
  • 3.9        Main market players  104
    • 3.9.1    Natural graphite           104
    • 3.9.2    Synthetic graphite      105
  • 3.10     Market supply chain  106
  • 3.11     Lithium-ion batteries 109
    • 3.11.1 Gigafactories 111
    • 3.11.2 Anode material in electric vehicles  114
      • 3.11.2.1            Properties         115
      • 3.11.2.2            Market demand            116
    • 3.11.3 Recent trends in the automotive market and EVs  117
    • 3.11.4 Higher costs and tight supply              117
    • 3.11.5 Forecast for EVs           117
    • 3.11.6 Graphite alternatives for batteries    118
  • 3.12     Refractory manufacturing (Steel market)    119
    • 3.12.1 Steel market trends and graphite growth    119
    • 3.12.2 Carbon Sources for refractories        120
    • 3.12.3 Electric arc furnaces in steelmaking              121
  • 3.13     Recarburising 123
  • 3.14     Graphite shapes          124
  • 3.15     Electronics      124
    • 3.15.1 Thermal management             124
  • 3.16     Electrode materials for fuel cells      125
  • 3.17     Nuclear              125
  • 3.18     Lubricants       125
  • 3.19     Friction materials        126
  • 3.20     Flame retardants         127
  • 3.21     Solar and wind turbines          128

 

4             COMPANY PROFILES                129

  • 4.1        Aben Resources           129
  • 4.2        Alba Mineral Resources plc  130
  • 4.3        Anovion Technologies              131
  • 4.4        Anson Resources        132
  • 4.5        Armadale Capital        133
  • 4.6        Ashbury Carbons        134
  • 4.7        Black Rock Mining Ltd.            135
  • 4.8        Blencowe Resources                136
  • 4.9        BTR New Material Group Co., Ltd.    137
  • 4.10     Buxton Resources Limited    138
  • 4.11     Canada Carbon Inc.  139
  • 4.12     Carbonscape 140
  • 4.13     Ceylon Graphite Corp.             141
  • 4.14     China Minmetals Group (Heilongjiang) Graphite Industry Co        143
  • 4.15     China Steel Chemical Corporation 144
  • 4.16     Cocan (Hubei) Graphite Mill Inc        145
  • 4.17     Doncarb Graphite LLC (EM Group)  146
  • 4.18     Eagle Graphite              147
  • 4.19     EcoGraf Limited           148
  • 4.20     Evolution Energy Minerals     149
  • 4.21     Extrativa Metalquimica SA Grafite do Brasil,             150
  • 4.22     Evion Group Pty. Ltd. 151
  • 4.23     Fangda Carbon New Material Co., Ltd.         152
  • 4.24     First Graphene              153
  • 4.25     Five-star New Material Technology Co., Ltd               155
  • 4.26     Focus Graphite             156
  • 4.27     FunktioMat Oy               157
  • 4.28     Grafintec Oy   158
  • 4.29     GrafTech International             159
  • 4.30     Graphex Technologies LLC   160
  • 4.31     Graphit Kropfmühl GmbH      161
  • 4.32     Graphite COVA GmbH             162
  • 4.33     Graphite India Limited (GIL) 163
  • 4.34     Graphite One, Inc.      164
  • 4.35     Graphjet Technology 165
  • 4.36     Gratomic, Inc.               166
  • 4.37     Green Battery Minerals           168
  • 4.38     Green Graphite Technologies              169
  • 4.39     Greenwing Resources              170
  • 4.40     HEG Limited   171
  • 4.41     Heilongjiang Guangshengda New Material Technology Co., Ltd. 172
  • 4.42     Heilongjiang Aoyu Energy      173
  • 4.43     Hexagon Energy Materials Ltd.           174
  • 4.44     Hubei Hengda Graphite Shareholding          175
  • 4.45     Ibiden  176
  • 4.46     Infinity Stone Ventures Corporation                177
  • 4.47     International Graphite Ltd     178
  • 4.48     ITech Minerals Ltd.     179
  • 4.49     JFE Chemical Corp.   180
  • 4.50     Jixi Northeast Asia Mineral Resources Co., Ltd        181
  • 4.51     Jixi Puchen Graphite Co., Ltd               182
  • 4.52     Kaifeng Carbon             183
  • 4.53     Leading Edge Materials           184
  • 4.54     Lomiko Metals              185
  • 4.55     Magnis Energy Technologies Ltd       186
  • 4.56     Mason Graphite, Inc. 187
  • 4.57     Mersen SA        189
  • 4.58     Metals Australia Ltd. 190
  • 4.59     Mineral Commodities Ltd.    191
  • 4.60     Nacional de Grafite    192
  • 4.61     Nantong Yangzi Carbon          193
  • 4.62     NeoGraf Solutions, LLC          194
  • 4.63     NextSource Materials Inc.     196
  • 4.64     Nippon Carbon Co., Ltd.        198
  • 4.65     Northern Graphite Corporation          199
  • 4.66     Nouveau Monde Graphite, Inc.          200
  • 4.67     Novonix Limited           201
  • 4.68     Perpetuus Carbon Group       203
  • 4.69     POSCO Future M         204
  • 4.70     Power Metal Resources          205
  • 4.71     Qingdao Black Dragon Graphite Group         206
  • 4.72     Qingdao Freyr Graphite Co., Ltd.      207
  • 4.73     Qingdao GR-TAIDA Carbon Co., Ltd 208
  • 4.74     Qingdao Haida Graphite         209
  • 4.75     Quantum Graphite     210
  • 4.76     Qingdao Taihelong New Energy Co., Ltd       211
  • 4.77     Reflex Advanced Materials Corp.      212
  • 4.78     Renascor Resources Ltd.       213
  • 4.79     Sarytogan Graphite Ltd.          214
  • 4.80     SEC Carbon    215
  • 4.81     SGL Carbon SE             216
  • 4.82     Shanshan Science & Technology Co., Ltd. 217
  • 4.83     Showa Denko K.K.      218
  • 4.84     South Star Battery Metals      219
  • 4.85     Sovereign Metals Limited       220
  • 4.86     SRG Mining     221
  • 4.87     Sunrise New Energy Co., Ltd.              222
  • 4.88     Superior Graphite       223
  • 4.89     Syrah Resources Limited       224
  • 4.90     Talga Resources           225
  • 4.91     Tirupati Graphite plc  227
  • 4.92     Tokai Carbon  228
  • 4.93     Toyo Tanso Co., Ltd.  229
  • 4.94     UP Catalyst     230
  • 4.95     Vianode             231
  • 4.96     Volt Resources Ltd.    232
  • 4.97     Walkabout Resources Ltd     233
  • 4.98     Westwater Resources, Inc.   234
  • 4.99     Xincheng Graphite Co. Ltd.   235
  • 4.100  Zentek Ltd        236
  • 4.101  Zhanjiang Juxin New Energy Co., Ltd              237

 

5             REFERENCES 238

 

List of Tables

  • Table 1. Selected physical properties of graphite. 13
  • Table 2. Characteristics of natural and synthetic graphite.             15
  • Table 3. Comparison between Natural and Synthetic Graphite.  16
  • Table 4. Classification of natural graphite with its characteristics.            19
  • Table 5. Applications of flake graphite.         21
  • Table 6. Amorphous graphite applications.               26
  • Table 7. Crystalline vein graphite applications.       27
  • Table 8. Characteristics of synthetic graphite.        28
  • Table 9: Main markets and applications of isostatic graphite.       32
  • Table 10. Current or planned production capacities for isostatic graphite.          33
  • Table 11. Main graphite electrode producers and capacities (MT/year). 33
  • Table 12. Markets and applications of graphite.     37
  • Table 13. Classification, application and price of graphite as a function of size.              39
  • Table 14. Pricing by graphite type, 2020-2024.        40
  • Table 15. Properties of graphene, properties of competing materials, applications thereof.     44
  • Table 16. Types of graphene and typical prices.      47
  • Table 17. Applications of GO and rGO.          52
  • Table 18. Markets, benefits and applications of graphene.             52
  • Table 19. Graphene types and cost per kg. 61
  • Table 20. Main graphene producers by country, annual production capacities, types and main markets they sell into.  62
  • Table 21. Graphene producers.          64
  • Table 22. Estimated global mine Production of natural graphite 2020-2023, by country (tons).             78
  • Table 23. Global production of graphite 2016-2023, MT.  78
  • Table 24. Estimated global graphite production in tonnes, 2024-2035, by type.                80
  • Table 25. Graphite market developments 2020-2024.       87
  • Table 26. Demand for synthetic graphite in Asia-Pacific 2016-2035, tonnes.     93
  • Table 27. Demand for natural graphite in Asia-Pacific 2016-2035, tonnes.          94
  • Table 28. Demand for synthetic graphite in North America 2016-2035, tonnes.               95
  • Table 29. Demand for natural graphite in the USA 2016-2035, tonnes.   97
  • Table 30. Demand for synthetic graphite in Europe 2018-2035, tonnes. 99
  • Table 31. Demand for natural graphite in Europe 2016-2035, tonnes.     100
  • Table 32. Main natural graphite producers.                104
  • Table 33. Main synthetic graphite producers.           105
  • Table 34. Key minerals in an EV battery.       109
  • Table 35. Current and planned gigafactories.          111
  • Table 36. Overview of thermal management materials.    124
  • Table 37. Next Resources graphite flake products.               196

 

List of Tables

  • Figure 1. Structure of graphite.          14
  • Figure 2. Comparison of SEM micrographs of sphere-shaped natural graphite (NG; after several processing steps) and synthetic graphite (SG).       16
  • Figure 3. Overview of graphite production, processing and applications.             18
  • Figure 4. Flake graphite.         21
  • Figure 5. Flake graphite production 23
  • Figure 6. Amorphous graphite.           25
  • Figure 7. Vein graphite.            28
  • Figure 8: Isostatic pressed graphite.               32
  • Figure 9. Global market for graphite EAFs, 2018-2035 (MT).           34
  • Figure 10. Extruded graphite rod.      35
  • Figure 11. Vibration Molded Graphite.           35
  • Figure 12. Die-molded graphite products.  36
  • Figure 13. Price of fine flake graphite 2022-2024. 41
  • Figure 14. Price of spherical graphite, 2022-2024. 42
  • Figure 15. Graphene layer structure schematic.     43
  • Figure 16. Illustrative procedure of the Scotch-tape based micromechanical cleavage of HOPG.       43
  • Figure 17. Graphite and graphene.  44
  • Figure 18. Types of CVD methods.   49
  • Figure 19. Schematic of the manufacture of GnPs starting from natural graphite.          51
  • Figure 20. Global production of graphite 2016-2023 MT.  79
  • Figure 21. Estimated global graphite production in tonnes, 2024-2035, by type.              81
  • Figure 22. Global market demand for natural graphite by end use market 2016-2035, tonnes.              83
  • Figure 23. Global market demand for synthetic graphite by end use market 2016-2035, tonnes.         84
  • Figure 24. Consumption of graphite by end use markets, 2023.  85
  • Figure 25. Demand for graphite by end use markets, 2035.            86
  • Figure 26. Global consumption of graphite by type and region, 203.        91
  • Figure 27. Consumption of synthetic graphite in Asia-Pacific 2016-2035, tonnes.         94
  • Figure 28. Consumption of natural graphite in Asia-Pacific 2016-2035, tonnes.              95
  • Figure 29. Demand for synthetic graphite in North America 2016-2035, tonnes.             96
  • Figure 30. Demand for natural graphite in the USA 2018-2035, tonnes. 98
  • Figure 31. Consumption of synthetic graphite in Europe 2015-2035, tonnes.    100
  • Figure 32. Consumption of natural graphite in Europe 2015-2035, tonnes.         101
  • Figure 33. Graphite market supply chain (battery market).              109
  • Figure 34. Graphite battery market demand, by type 2016-2035, tonnes.            111
  • Figure 35. 2 Graphite: Content and share of total cell weight, for common types of lithium-ion cells for battery-powered electric vehicles. 115
  • Figure 36. Graphite as active anode material in lithium-ion cell. 116
  • Figure 37. Global electric car sales and share of global car sales, 2010-2023. 118
  • Figure 38. Graphite market demand for refractories, by type 2016-2035, tonnes.           121
  • Figure 39.  Schematic illustration of an EAF.              122
  • Figure 40. Graphite electrodes demand 2018-2035 in EAFs (million MT).              123
  • Figure 41. Graphite market demand for recarburising, by type 2016-2035, tonnes.       123
  • Figure 42. Graphite market demand for recarburising, by type 2016-2035, tonnes.       126
  • Figure 43. Graphite market demand for friction products by type 2016-2035, tonnes. 127

 

The Global Graphite Market 2024-2035
The Global Graphite Market 2024-2035
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The Global Graphite Market 2024-2035
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