Graphite Market Competition Ranking, Market Size, Market Share, Forecast Report 2025-2030 Expert Review

(MENAFN- GetNews) The graphite market is witnessing strong growth driven by rising demand in electric vehicles, energy storage, refractories, and lubricants. With the shift toward renewable energy and advanced materials, graphite plays a pivotal role in lithium-ion batteries and high-tech applications. Key players include Syrah Resources, GrafTech International, Imerys, Tokai Carbon, and Northern Graphite.

The global Graphite Market was valued at USD 15.67 billion in 2024 and is projected to reach USD 36.40 billion by 2030, growing at 15.1% cagr from 2024 to 2030 research report covers graphite market size , key market drivers, challenges, and recent developments, along with demand trends, growth stimulators, spending patterns, and modernization trends across different regions.

Due to the increasing number of Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), Hybrid Electric Vehicles (HEVs), Fuel Cell Electric Vehicles (FCEVs), and Extended Range Electric Vehicles (EREVs) in the market, graphite demand has therefore increased accordingly. Growing adoption of EVs coupled with other industries such as renewable energy storage and consumer electronics means a continuous increase in graphite requirement.

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By type, the synthetic graphite segment is estimated to be the fastest-growing type segment from 2024 to 2030 in terms of value.

Synthetic graphite retains domination in the global graphite market supply due to the uniform and very high quality of this material, which makes it indispensable for critical applications. Such a controlled production process ensures purity and uniformity that natural graphite cannot provide for specialized uses. Essential utilization in lithium-ion batteries, one of the key components of electric vehicles and renewable energy storage systems, begins to significantly drive demand. Moreover, in comparison with natural graphite, such synthetic variants assure better thermal and electrical conductivity; this, in turn, improves the performances of energy and electronic devices.

Apart from that, it owes its industrial choice for such processes as steel-making, crucibles, and refractory products to its resistance against high temperatures and durability. Increasing usage of advanced materials in aerospace and nuclear industries has even elevated its demand more. When industries are relishing efficiency and sustainability, synthetic graphite possesses tailored properties, hence standing out in competition. The independency of its supply chain from mining constraints also guarantees availability for large-scale industrial projects. In addition, as technology continues to improve production and cost, synthetic graphite is gradually consolidating its leading position in the market with its versatility.

By application, the electrode segment will be the largest in the graphite market 2023.

The application segment of electrodes holds the largest share in the global graphite market due to its centrality in high-temperature industrial processes, especially in electric arc furnaces for the production of steel. Electric arc furnaces rely on graphite electrodes because of their exceptional thermal and electrical conductivity, which enables efficient melting of scrap steel and raw materials. This is an application sector witnessing a rise in demand due to the growth of the steel industry at rapid paces, especially in emerging economies.

Graphite electrodes are important for modern green steelmaking technologies, meeting global sustainability objectives and further diffusing the technology. In addition, their ability to support extremely high temperatures and not oxidize conditions guarantees their use in power-intensive processes. The increase in EAF steel production, given its much lower environmental impact compared to blast furnaces, stimulates demand.

Graphite electrodes have witnessed technological improvements, thus making them more efficient and extending the cycle life at lower costs, which has strengthened their position in the market. Urbanization and infrastructure growth in different parts of the world have resulted in an increase in the demand for steel, thus driving graphite demand. Additionally, modernization of old steel plants is in full swing, which encourages the consumption of better quality electrodes and hence, the segment becomes indispensable from the graphite market performance.

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By purity, high purity segment holds the largest market share in the graphite market 2023.

Dominance in the global graphite market comes from the fact that the high purity graphite segment offers versatility in its uses, especially in advanced industries. The superior electrical conductivity and thermal resistance make it indispensable in a growing battery market-particularly lithium-ion batteries for EVs and renewable energy storage. Besides, high purity graphite applications in high-performance electronics-semiconductors and sensors-promise to drive demand during forecast period.

More importantly, high purity graphite also forms an integral part in the making of energy-efficient LED lighting systems and photovoltaic cells-all associated with global sustainability objectives. Its purity ensures minimal contamination is maintained, hence making it important in precision manufacturing in medical devices and advanced optics.

Asia Pacificis estimated to be the largest region in the graphite market in 2023.

The thriving industrial sectors of the Asia Pacific, specifically in countries such as China and India, are driving substantial demand for graphite. Besides that, the massive consumption of graphite in making steel works as a catalyst to drive demand from demanding industries related to infrastructure and construction. Asia-Pacific has most of the electric vehicle manufacturers that rely heavily on graphite in its lithium-ion battery anodes large natural graphite reserves are held by countries such as China, which have low production costs, further solidifying the region's hold on the market. In addition to these, rapid urbanization and increasing needs for energy storage further boost demand. Government incentives on renewable energy, together with those on EVs, favor the graphite industry.

Furthermore, supply chains are well-established, and labor costs in the region remain low, making it quite an attractive region for the production and processing of graphite. Advanced technologies are applied to get a qualitative end product in the refinement of graphite. Lastly, in integrating graphite into the development of innovative applications-cum-products like flexible electronics-the pace is firming up in the Asia Pacific, hence gaining further hold on the leading position in the market.

Graphite Companies

AMG (Germany), Asbury Carbons (US), Grafitbergbau Kaisersberg GmbH (Austria), BTR New Material Group Co.,Ltd.(China), Imerys (France), Nacional de Grafite (Brazil), SGL Carbon (Germany), Mineral Commodities Ltd. (Australia), Tirupathi Carbons & Chemicals Pvt Ltd (India), Resonac Holdings Corporation (Japan), Toyo Tanso Co.,Ltd. (Japan), Mersen Property (France), Northern Graphite(Canada), Novonix Limited (Australia), Shanshan Co (China) are the key players in graphite market.

SHANSHAN CO (CHINA)

Shanshan Co., founded in 1989 and headquartered in Ningbo, China, is a publicly traded company specializing in the R&D, production, and sales of lithium battery materials. Its diverse portfolio includes cathode materials such as lithium cobalt oxide (LCO) and lithium manganese oxide (LMO), as well as anode materials like synthetic graphite, natural graphite, and silicon anode materials. The company also produces lithium battery electrolytes and raw materials like lithium hexafluorophosphate. Shanshan's products are widely utilized in applications ranging from portable electronics (e.g., mobile phones and laptops) to electric vehicles, energy storage systems, and large-scale power supplies. Operating globally, with a significant presence in China, South Korea, and Japan, Shanshan is a key player in enabling advanced energy solutions for various industries.

RESONAC HOLDINGS CORPORATION (JAPAN)

Resonac Holdings Corporation, founded in 2002 and headquartered in Tokyo, Japan, is a leading player in the graphite market, operating through its Graphite Business Unit. The company is a global supplier of graphite electrodes, essential for electric arc furnaces (EAF) used in steel recycling. It operates across four key segments: Semiconductor and Electronic Materials, Mobility, Chemicals, and Enabling Materials, offering products like Shocaraiser-a premium foundry recarburizer-and ultra-fine artificial graphite powder used for thermal and electrical applications. With six production sites spanning Japan, the US, and Europe, the company ensures robust supply chains. A significant development includes a 2022 agreement with Shinshu Showa K.K., enabling improved decision-making and strengthening its graphite electrode business globally.

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SGL CARBON (GERMANY)

Founded in 1992 and headquartered in Wiesbaden, Germany, SGL Carbon specializes in providing graphite and composite materials to industries such as automotive, aerospace, renewable energy (solar and wind), semiconductors, LED manufacturing, and lithium-ion batteries. The company delivers tailored solutions across the value chain, from raw materials to finished components, through its five core business units: Carbon Fibers (CF), Composite Solutions (CS), Graphite Solutions (GS), and Process Technology (PT). Employing approximately 4,800 people, SGL Carbon operates over 29 facilities across Europe, North America, and Asia. Notable products include SIGRACELL expanded graphite battery additives, SIGRAFINE extruded and isostatic graphite, and SIGRATHERM conductive expanded graphite powder, which enhance battery performance through high electrical conductivity and thermal stability. Recent expansions in China, the US, and Germany have increased production capacity for graphite products, particularly for the semiconductor industry. Additionally, the company secured a supply agreement with Wolfspeed Silicon Carbide in 2023, bolstering its revenue potential.

GRAFTECH INTERNATIONAL (US)

GrafTech International, founded in 1886 and headquartered in Ohio, USA, is a leading manufacturer and supplier of graphite and carbon-based materials, serving the industrial and energy sectors. The company specializes in synthetic graphite production, which is vital for steelmaking, electric arc furnace (EAF) operations, and battery material production. GrafTech's primary products include graphite electrodes, petroleum coke and carbon products, and impervious graphite equipment. Its high-quality ultra-high-power (UHP) graphite electrodes are used in large-scale steel production, and the company also provides materials for aluminum production and energy storage. With a global presence across Asia Pacific, the Americas, Europe, and the Middle East & Africa, GrafTech continues to expand, including opening a new sales office in Chiba-shi, Japan, in July 2021 to enhance its customer service and technical support.

IMERYS (FRANCE )

Imerys, founded in 1880 and headquartered in Paris, France, is a global leader in supplying specialty minerals, offering a wide range of graphite and carbon-based materials for industries such as energy storage, electronics, automotive, and construction. The company operates through three main segments: Performance Minerals (PM), Solutions for Refractory, Abrasives, and Construction (RAC), and Solutions for Energy Transition (SET). Its PM segment focuses on functional additives for plastics, paints, coatings, and life sciences, while the RAC segment provides specialty minerals for demanding industrial processes. The SET segment includes Imerys Graphite & Carbon, which serves the mobile energy market, and a joint venture in high-purity quartz solutions for the solar and semiconductor markets. Imerys operates 35 industrial sites across 15 countries and serves markets worldwide, including Asia Pacific, the Americas, the Middle East & Africa, and Europe.

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