Graphite is a flexible crystalline allotrope of carbon created from graphene layers, having a steel-grey to black metallic gloss and a greasy feel used in batteries and electrodes. According to BlueQuark Research & Consulting, the global graphite market is expected to witness a substantial growth rate during the forecasted period. Factors such as the surging demand from the lithium-ion (Li-ion) battery industry are used in electric vehicles and consumer electronics applications which are expected to drive the need for the Graphite market in the forecasted period. Further, the steel industry is the primary market for natural graphite. The refractory industry is the highest end-use, expected to drive the need for the Graphite market in the forecasted period. Furthermore, the remarkable demand from steel-producing industries using graphite electrodes and electric arc furnaces (EAF) also drives the need for the Graphite market in the forecasted period. However, stringent government regulations regarding the mining process and an increase in graphite price are the major factors, among others, acting as restraints and will further challenge the growth of the graphite market in the forecasted period.

Graphite is a mineral of carbon utilized in various applications such as electric vehicles, refractories, foundry, lubricating agents, construction applications, and others. It conducts electricity and is utilized in making electrodes, paints, batteries, leads, pencils, etc.

The metallurgy segment of the market studied includes electrodes and refractories, casting, and foundries. Graphite electrodes are utilized in electric arc furnaces (EAF) and ladle furnaces (LF) for steel production, aluminum production, ferroalloy production, and smelting. The rising steel production using the electric arc furnace process is expected to increase the demand for graphite industry. In refractories, natural graphite is used to manufacture crucibles and mag-carbon bricks. Graphite is broadly used as an anode material in lithium-ion batteries. The demand for graphite will increase by ~200% in the coming years. In Li-ion batteries, graphite is the most used anode material. Lithium manganese oxide (LMO), lithium cobalt oxide (LCO), and lithium iron phosphate (LFP) batteries all use graphite. The factors attributing to the growth of the graphite market are rapidly maturing the electric vehicle industry and the inception of the utility storage market. Expansion of the lithium-ion battery industry globally contributes to this growth. Graphite is also utilized to cover foundry facings to make removing hot metal easier. Flexible or expanded graphite, one of the fastest-growing markets for li-ion batteries, is made from natural graphite flakes. It's made by mixing a diluted acid solution with natural flake graphite and heating it to expand, which splits the chips apart. This product has significant market potential in thermal management and battery storage applications. An increase in the demand for graphite for lithium-ion batteries and fuel cells is the vital factor escalating the market growth. Also, a rise in the use of graphite in the manufacturing of structural composite parts used in aircraft rise in the adoption of graphite in refractories due to its high thermal property, rise in need for lithium-Ion batteries and fuel cells and increase in order in aerospace and automotive sector for lightweight materials are the major factors among others driving the graphite market. Moreover, a rise in the usage of graphite in green technologies and a surge in demand from emerging economies will further create new opportunities for the graphite market in the forecast period. The above factors will likely create substantial growth opportunities for the graphite market during the forecast period.

The Asia Pacific region is expected to be the largest market for global graphite due to its high consumption from the end-user industries in the area. Moreover, China has some of the biggest graphite reserves, resulting in the world's leading graphite producer. As of 2019, China has produced approx 700,000 metric tons of graphite, making it one of the world's largest graphite producers. China and India are global hotspot production hubs for automotive and electronics, thus, providing a significant edge to the market during the forecasted period. The increasing demand of graphite in the industries is owing to its several advantages such as reduced wear, ease to machine, thermal shock resistance, high metal removal rate, and others. Graphite is non-metal but possesses metallic properties like high stiffness, strength, a good conductor of electricity and heat, and others. There are two forms of graphite which consist of natural graphite and synthetic graphite. The natural graphite fragment is further sub-categorized into flake, amorphous, and vein graphite. The synthetic graphite fragment is further classified into graphite electrode, graphite block, carbon fiber, graphite powder, and others. Natural Graphite is awaited to drive the market due to its high usage in batteries, expendable foundries, lubricants, crucibles, and refractories. Further, the plunging requirement for batteries used in electric vehicles is also likely to surge the need for natural graphite, which is expected to appear as the fastest-growing market. Additionally, natural graphite is a low-cost alternative to synthetic graphite, which is further expected to drive the market. Moreover, the growing demand for high-quality graphite from the automotive industry and automobile OEMs are some factors that will provide to the growth of the graphite market. Graphite plays an important role in the automotive industry due to its lightweight and lubrication, high mechanical strength, greater energy efficiency, and electrical conductivity. Graphite is a suitable replacement for asbestos. It is used in brake lining, gaskets, clutch materials, etc. 

The global graphite market is consolidated. Major market players were Triton Minerals Limited, Focus Graphite Inc., Northern Graphite Corp., Graphite India Limited, and SHOWA DENKO KK, among others.

In November 2019, Tesla announced to build a battery gigafactory and Model Y in Berlin. The plant is slated to make batteries, e-vehicles, and power trains, likely to fuel the United States' demand for graphite in the forecasted period.

The Global Graphite Market report provides deep insight into regions' current and future graphite market states. The study comprehensively analyzes the graphite market by segmenting based on Type (Natural Graphite and Synthetic Graphite) By Application (Batteries, Electrodes, Refractories & Foundries, Lubricants, and Other Applications), By End-user Industry (Electronics, Automotive, Metallurgy, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth, in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers an extensively researched competitive landscape section with profiles of prominent companies, including their market shares and projects.