Annaso08
The Graphite Market size is expected to reach US$ 39,698.2 million by 2031 from US$ 17,718.40 million in 2024. The market is estimated to record a CAGR of 12.4% from 2025 to 2031.
Executive Summary and Global Market Analysis:
The global graphite market is experiencing significant growth, driven by rising demand across various industries, including batteries, steel production, electronics, and automotive. As a key material in lithium-ion batteries, graphite is vital to the growing electric vehicle market, propelling its demand further. China dominates the global supply, with other major players such as India, Brazil, and Canada contributing to production.
ES 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.
Market Drivers and Opportunities
1. Growing Steel Production Fuels Graphite Demand
Steelmaking is a major driver of the graphite market. Specifically, graphite is essential for producing electrodes used in Electric Arc Furnaces (EAFs)-a key steel manufacturing method. These furnaces melt scrap steel using intense heat, and graphite electrodes are critical due to their excellent thermal conductivity and ability to handle extreme temperatures.
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