- Natural Graphite: the natural graphite segment is expected to portray the largest CAGR of 7.1% from 2020 to 2027, owing to the increase in the demand for electric vehicles, energy storage systems (Li-ion batteries), steel making and others.
- Synthetic Graphite: the synthetic graphite segment accounted for 89% of the total share of the global graphite market in 2019
|Refractories, Casting & Foundries||Metallurgy|
|Batteries||Automotive (Includes EV/HEV Vehicles)|
Drivers of demand:
- Energy Storage
- Clean Energy Transition
- Anodes market
- Flame retardant building materials
- High-Impact Mineral: Graphite follows suit as a high-impact mineral, accounting for about 360 MtCO2e up to 2050 because it is exclusively used to manufacture anodes used in most battery technologies
Share of Mineral Demand from Energy Storage Under International Energy Agency (IEA)
2- degree scenario (DS) Through 2050
4.5 million tons of graphite is needed to be produced annually by 2050, or a cumulative of 68 million tons, while graphite demand increases by nearly 500 percent from 2018 production figures, demonstrating the critical role graphite plays in the clean energy transition, being used in Li-ion batteries, the most widely projected deployed battery technology.
According to the report from Allied Market Research, the global graphite industry garnered $14.3 billion in 2019, and is projected to garner $21.6 billion by 2027, witnessing a CAGR of 5.3% from 2020 to 2027.
(" Graphite Market by Type (Natural Graphite and Synthetic Graphite) and Application (Lubrication, Refractories, Foundry, Battery Production, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027")