Market Size of Graphite Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.62 Billion |
| Market Size (2029) | USD 4.63 Billion |
| CAGR (2024 - 2029) | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Graphite Market Analysis
The Graphite Market size is estimated at USD 3.62 billion in 2024, and is expected to reach USD 4.63 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
The COVID-19 outbreak presented a challenging industry arena for the graphite market, as it slowed down the demand from the key end-user industries, such as electronics, metallurgy, and automotive (including electric vehicles), owing to the lockdown measures of the pandemic. Furthermore, the production facilities of electronic parts were halted due to the logistics slowdown and unavailability of the workforce across the world. However, the sector has been recovering well since restrictions were lifted and operations were resumed.
- Over the short term, augmenting demand from the burgeoning lithium-ion battery industry and an increase in steel production in Asia and the Middle East are significant factors driving the growth of the market studied.
- However, stringent environmental regulation is a key factor anticipated to restrain the growth of the target market over the forecast period.
- Nevertheless, the increasing application of graphite in green technologies is likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific is estimated to witness healthy growth over the assessment period in the graphite market due to the wide usage of graphite in countries such as India, China, Japan, and others.
