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Global graphite market value 2016-2025

Graphite market value worldwide from 2016 to 2025 (in billion U.S. dollars)

by M. Garside, last edited Nov 7, 2019
Global graphite market value 2016-2025 The global market value of graphite is projected to reach approximately 27 billion U.S. dollars by 2025, an increase of more than nine billion U.S. dollars from the estimated market value in 2018.

Explanation – Electric vehicles to drive market growth

Although global production levels of graphite have recently shown signs of decline, demand for the material is expected to increase over the coming years. The use of graphite electrodes in the steel industry has helped to boost the market, but the material is becoming increasingly sought after by the automotive industry due it being an essential element in the making of lithium-ion batteries. China, as the world's largest producer of consumer electronics, is the world’s largest producer of graphite by a large margin, with 2018 production amounting to 630,000 metric tons.

Context – From graphite to graphene

Forecasts suggest the market for lithium-ion batteries could exceed 100 billion U.S. dollars by 2025 as worldwide demand for electric vehicles increases. The anodes used within these batteries are made from graphite, but graphene could soon be used to drive development for the future. Graphene is an allotrope of carbon that has a special set of properties and can be produced from graphite. The use of graphene in lithium-ion batteries has the potential to increase the lifespan of the battery and allow faster charge times.
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Graphite market value worldwide from 2016 to 2025 (in billion U.S. dollars)

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