How Big is the Graphite Market | Growth Analysis & Trends 2025

Q: How big is the graphite market?

The graphite market was estimated at USD 21 billion in 2024 and is expected to reach USD 30 billion by 2031.

Q: What is the growth rate of the graphite market?

The graphite market is expected to grow at a CAGR of 4.20% during 2025–2031.

Q: What challenges affect the growth of the graphite market?

Challenges of the market include raw material shortages, environmental concerns in mining, and fluctuating graphite prices.

Q: Who are the top players in the graphite market?

Top players include Syrah Resources, Imerys, Tokai Carbon, GrafTech, and SGL Carbon.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA7032

Publication Date: Aug 2025

What is the size of Graphite Market?

According to 6Wresearch internal database and industry insights, the Global Graphite Market was estimated at USD 21 billion in 2024 and is expected to reach USD 30 billion by 2031, growing at a CAGR of 4.20% during the forecast period 2025â€“2031.

Graphite market is expected to get steady growth in the coming years due to several growth factors including the rising demand from electric vehicle batteries, steel manufacturing, lubricants, and electronics industries.

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Key Growth Drivers of the Graphite Market

Increasing use of graphite anodes in lithium-ion batteries for EVs and energy storage
Rising demand for synthetic graphite in high-temperature industrial processes
Graphite used in refractory materials for steelmaking and foundry operations
Wider applications in lubricants, brake linings, gaskets, and conductive materials
Government focus on clean energy and critical mineral supply chain development

Graphite Market Trends

Graphite market is growing over the years with strong trends such as the shift toward synthetic graphite in battery production. Other trends such as natural flake graphite are in demand for expandable graphite and fire-retardant materials. Excluding these, recycled graphite is gaining attention for sustainable sourcing. Now, the companies are investing in vertical integration and purification technologies. The demand for high-purity graphite in semiconductors and nuclear applications is rising.

Emerging Developments in the Graphite Market

Graphite market is seeing developments with time as the innovations are occurring in battery-grade spherical graphite production. Advancements in environmentally friendly mining and processing techniques are underway. Now, the companies are exploring graphene extraction from graphite for advanced applications. Further, the strategic partnerships between automakers and graphite producers are rising. Tech firms are focusing on thermal graphite for 5G and high-performance computing.