Graphite Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Graphite Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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The graphite market has exhibited robust growth, with a projected increase from $1.2 billion in 2023 to $1.3 billion in 2024, reflecting a commendable compound annual growth rate (CAGR) of 8.1%. Anticipating further expansion, the market is expected to reach $1.73 billion by 2028, with a CAGR of 7.4%. A key driver for this growth is the escalating demand for electric vehicles (EVs), transforming the dynamics of the graphite market.

Fueling the Future: Electric Vehicles Drive Graphite Market
The surge in demand for electric vehicles is poised to be a catalyst for the graphite market growth. Electric vehicles, powered by electricity stored in lithium-ion batteries, rely on graphite as an essential component for the anode material. Graphite enables the production of lightweight and high-energy-density batteries, contributing to efficient energy storage and release. Notably, the International Energy Agency reported a significant uptick in electric vehicle sales, reaching 6.6 million in 2021, almost double the figures from 2020. This shift accounts for nearly 9% of the market share, with a 4% increase in 2021 alone, leading to a total of 16.5 million electric vehicles on the road. The growing demand for electric vehicles positions graphite as a crucial element in the evolving automotive landscape.

Autonomous Efficiency: Graphite Mining Adopts Automation
Graphite mining companies are embracing autonomy to enhance efficiency and safety in their operations. Autonomous vehicles, including driverless trucks, are becoming integral in mining operations, minimizing delays, reducing costs, and improving safety. Major players like Rio Tinto, BHP Billiton, and Fortescue Metals Group are at the forefront of deploying autonomous vehicles to haul ore, showcasing the industry's commitment to leveraging cutting-edge technology for operational excellence.

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Innovations in Battery Fabrication Technology
To maintain a competitive edge, companies in the graphite market are focusing on advancements in battery-related fabrication technology. A notable example is Battrion AG, in collaboration with Jagenberg Converting Solution GmbH, unveiling the Aligned Graphite Technology for lithium-ion batteries. This innovative fabrication technology enhances the microstructure of negative electrodes, resulting in improved battery performance, faster charging capabilities, and reduced cell resistance. The technology not only offers cost savings in battery production but is also compatible with standard graphite materials, requiring no modifications to existing manufacturing processes. Validated by leading automotive OEMs and cell manufacturers, Aligned Graphite Technology holds the potential to revolutionize the electric vehicle and high-power battery industry.

Regional Landscape and Market Segmentation
As of 2023, Asia-Pacific stands as the largest region in the graphite market, with South America securing its position as the second-largest region.

Graphite Market Segments
1) By Type: Flake Graphite, Non-Flake Graphite
2) By Product: Natural Graphite, Synthetic Graphite
3) By Flake Size: Jumbo, Large, Medium, Small, Fine
4) By Application: Refractories, Batteries, Lubricants/Crucibles, Foundry, Pencils, Other Applications

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Graphite Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Graphite Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on graphite market size, graphite market drivers and trends, graphite market major players, competitors' revenues, graphite market positioning, and market growth across geographies. The graphite market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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