흑연 시장 : 규모, 점유율, 성장률, 산업 분석 - 유형별, 용도별, 지역별 인사이트 및 예측(2026-2034년)

Growth Factors of graphite Market

The global graphite market plays a critical role across multiple industrial value chains, including steelmaking, refractories, batteries, automotive, electronics, and energy storage. As per the report year strictly followed, the global graphite market was valued at USD 8.33 billion in 2025. The market is projected to expand to USD 8.89 billion in 2026 and further reach USD 15.28 billion by 2034, registering a CAGR of 6.90% during the forecast period (2026-2034). Asia Pacific dominated the global market with a 56% share in 2025, driven by strong demand from steel production, refractories, and lithium-ion battery manufacturing.

Graphite is a naturally occurring form of carbon with a unique combination of metallic and non-metallic properties. It exhibits high thermal and electrical conductivity, chemical inertness, excellent lubricity, corrosion resistance, and an exceptionally high melting point of 3,927°C. These properties make it indispensable for high-temperature and energy-intensive applications such as electric arc furnaces, blast furnace linings, crucibles, kilns, and reactors. Its rising usage in electric vehicle (EV) batteries and electric arc furnace (EAF) steelmaking is significantly reshaping global demand dynamics.

IMPACT OF COVID-19

The COVID-19 pandemic disrupted the graphite market in 2020 due to global lockdowns, labor shortages, logistics constraints, and weakened demand from key end-use industries such as automotive, steel, metallurgy, and refractories. Many manufacturers were forced to curtail or temporarily shut down production. As a result, the market experienced a sharp year-on-year decline. However, post-pandemic recovery has been strong, driven by renewed industrial activity, accelerating electric mobility adoption, and rising steel and foundry output, enabling the market to regain momentum.

GRAPHITE MARKET TRENDS

A defining trend in the market is the rapid growth of battery-powered vehicles. Graphite is a critical raw material for lithium-ion batteries, serving as the primary anode material due to its high energy density and stability. According to global EV sales trends, electric vehicle adoption has expanded at nearly 50% annually over the past five years, driving substantial demand for battery-grade graphite. In addition, graphite-based thermally conductive polymers are increasingly replacing metals in automotive components, supporting lightweighting and efficiency goals.

GRAPHITE MARKET GROWTH FACTORS

The refractory industry remains the largest end-use segment, accounting for nearly half of global graphite consumption. The material's superior heat resistance makes it essential for refractory linings in steel furnaces, kilns, incinerators, and non-ferrous metal processing. The steel industry's transition toward low-carbon production is accelerating the adoption of electric arc furnaces, which rely heavily on graphite electrodes. This structural shift is expected to sustain long-term demand growth.

Additionally, the automotive and energy storage sectors are emerging as major growth drivers. Beyond batteries, graphite is widely used in lubricants, friction materials, and recarburizers for steel and cast iron, expanding its industrial footprint.

RESTRAINING FACTORS

One of the major restraints is the rise in export duties and supply security policies. Major producing countries are implementing export restrictions to safeguard domestic industries, tightening global supply availability. For instance, increased export controls in China have disrupted supply chains for import-dependent countries, forcing battery manufacturers and steel producers to seek alternative sources. Trade tensions and resource nationalism are expected to constrain market growth over the forecast period.

SEGMENTATION ANALYSIS

By product type, the synthetic graphite segment dominated the market with a 78.87% share in 2026. Synthetic graphite offers superior purity, high temperature resistance, and predictable performance, making it ideal for batteries, electrodes, and specialized industrial applications. Natural graphite, available in flake, amorphous, and vein forms, continues to see strong demand from refractories and automotive applications due to its cost advantage.

By application, refractories led the market with a 46.12% share in 2026, followed by batteries, which represent the fastest-growing segment. Battery demand is expected to grow at a double-digit rate by 2032, supported by electric vehicles, consumer electronics, and energy storage systems. Other applications include foundries, lubricants, friction products, and recarburizing.

REGIONAL INSIGHTS

Asia Pacific remained the largest market, reaching USD 5.03 billion in 2025 and USD 5.3 billion in 2026, supported by large-scale steel production and battery manufacturing in China, Japan, and India. China accounted for the largest regional share in 2024 due to its dominant position in steel and lithium-ion battery supply chains.

North America is witnessing steady growth, with the U.S. market projected to reach USD 1.36 billion by 2026 and USD 1.96 billion by 2032, driven by EV battery investments. Europe is strengthening its position through synthetic graphite and anode production initiatives, while Latin America and the Middle East & Africa are expected to grow moderately, supported by government-backed battery and industrial development programs.

COMPETITIVE LANDSCAPE

The market is moderately consolidated, with key players such as SGL Carbon, Imerys S.A., Superior Graphite, AMG, and BTR New Material Group. Companies are focusing on capacity expansion, battery-grade graphite development, and strategic collaborations to strengthen market positioning.

CONCLUSION

The global graphite market is poised for robust long-term growth, expanding from USD 8.33 billion in 2025 to USD 15.28 billion by 2034. Rising electric vehicle adoption, expansion of lithium-ion battery production, and sustained demand from refractories and steelmaking are key growth pillars. Despite challenges related to export controls and supply security, technological advancements and global electrification trends will continue to drive strong demand for graphite across multiple industries.

Segmentation By Product

• Synthetic
• Natural

By Application

• Refractories
• Foundries
• Batteries
• Friction Products
• Lubricants
• Recarburizing
• Others

By Geography

• North America (By Product, Application, and Country)
  • U.S. (By Application)
  • Canada (By Application)
• Europe (By Product, Application, and Country)
  • Germany (By Application)
  • U.K. (By Application)
  • France (By Application)
  • Italy (By Application)
  • Rest of Europe (By Application)
• Asia Pacific (By Product, Application, and Country)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • ASEAN (By Application)
  • Rest of Asia Pacific (By Application)
• Latin America (By Product, Application, and Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America (By Application)
• Middle East & Africa (By Product, Application, and Country)
  • GCC (By Application)
  • South Africa (By Application)
  • Rest of the Middle East & Africa (By Application)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities

4. Key Insights

• 4.1. Key Emerging Trends - For Major Regions
• 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
• 4.3. Latest Technological Advancement
• 4.4. Insights on Regulatory Scenario
• 4.5. Porters Five Forces Analysis
• 4.6. Impact of COVID-19 on Global Graphite Market

5. Global Graphite Market Analysis, Insights and Forecast, 2021-2034

• 5.1. Key Findings / Summary
• 5.2. By Product (Value & Volume)
  • 5.2.1. Synthetic
  • 5.2.2. Natural
• 5.3. By Application (Value & Volume)
  • 5.3.1. Refractories
  • 5.3.2. Foundries
  • 5.3.3. Batteries
  • 5.3.4. Friction Products
  • 5.3.5. Lubricants
  • 5.3.6. Recarburising
  • 5.3.7. Others
• 5.4. By Region (Value & Volume)
  • 5.4.1. North America
  • 5.4.2. Europe
  • 5.4.3. Asia Pacific
  • 5.4.4. Latin America
  • 5.4.5. Middle East & Africa

6. North America Graphite Market Analysis, Insights and Forecast, 2021-2034

• 6.1. Key Findings / Summary
• 6.2. By Product (Value & Volume)
  • 6.2.1. Synthetic
  • 6.2.2. Natural
• 6.3. By Application (Value & Volume)
  • 6.3.1. Refractories
  • 6.3.2. Foundries
  • 6.3.3. Batteries
  • 6.3.4. Friction Products
  • 6.3.5. Lubricants
  • 6.3.6. Recarburising
  • 6.3.7. Others
• 6.4. By Country (Value & Volume)
  • 6.4.1. U.S
    • 6.4.1.1. By Application (Value & Volume)
      • 6.4.1.1.1. Refractories
      • 6.4.1.1.2. Foundries
      • 6.4.1.1.3. Batteries
      • 6.4.1.1.4. Friction Products
      • 6.4.1.1.5. Lubricants
      • 6.4.1.1.6. Recarburising
      • 6.4.1.1.7. Others
  • 6.4.2. Canada
    • 6.4.2.1. By Application (Value & Volume)
      • 6.4.2.1.1. Refractories
      • 6.4.2.1.2. Foundries
      • 6.4.2.1.3. Batteries
      • 6.4.2.1.4. Friction Products
      • 6.4.2.1.5. Lubricants
      • 6.4.2.1.6. Recarburising
      • 6.4.2.1.7. Others

7. Europe Graphite Market Analysis, Insights and Forecast, 2021-2034

• 7.1. Key Findings / Summary
• 7.2. By Product (Value & Volume)
  • 7.2.1. Synthetic
  • 7.2.2. Natural
• 7.3. By Application (Value & Volume)
  • 7.3.1. Refractories
  • 7.3.2. Foundries
  • 7.3.3. Batteries
  • 7.3.4. Friction Products
  • 7.3.5. Lubricants
  • 7.3.6. Recarburising
  • 7.3.7. Others
• 7.4. By Country (Value & Volume)
  • 7.4.1. Germany
    • 7.4.1.1. By Application (Value & Volume)
      • 7.4.1.1.1. Refractories
      • 7.4.1.1.2. Foundries
      • 7.4.1.1.3. Batteries
      • 7.4.1.1.4. Friction Products
      • 7.4.1.1.5. Lubricants
      • 7.4.1.1.6. Recarburising
      • 7.4.1.1.7. Others
  • 7.4.2. France
    • 7.4.2.1. By Application (Value & Volume)
      • 7.4.2.1.1. Refractories
      • 7.4.2.1.2. Foundries
      • 7.4.2.1.3. Batteries
      • 7.4.2.1.4. Friction Products
      • 7.4.2.1.5. Lubricants
      • 7.4.2.1.6. Recarburising
      • 7.4.2.1.7. Others
  • 7.4.3. U.K.
    • 7.4.3.1. By Application (Value & Volume)
      • 7.4.3.1.1. Refractories
      • 7.4.3.1.2. Foundries
      • 7.4.3.1.3. Batteries
      • 7.4.3.1.4. Friction Products
      • 7.4.3.1.5. Lubricants
      • 7.4.3.1.6. Recarburising
      • 7.4.3.1.7. Others
  • 7.4.4. Italy
    • 7.4.4.1. By Application (Value & Volume)
      • 7.4.4.1.1. Refractories
      • 7.4.4.1.2. Foundries
      • 7.4.4.1.3. Batteries
      • 7.4.4.1.4. Friction Products
      • 7.4.4.1.5. Lubricants
      • 7.4.4.1.6. Recarburising
      • 7.4.4.1.7. Others
  • 7.4.5. Rest of Europe
    • 7.4.5.1. By Application (Value & Volume)
      • 7.4.5.1.1. Refractories
      • 7.4.5.1.2. Foundries
      • 7.4.5.1.3. Batteries
      • 7.4.5.1.4. Friction Products
      • 7.4.5.1.5. Lubricants
      • 7.4.5.1.6. Recarburising
      • 7.4.5.1.7. Others

8. Asia-Pacific Graphite Market Analysis, Insights and Forecast, 2021-2034

• 8.1. Key Findings / Summary
• 8.2. By Product (Value & Volume)
  • 8.2.1. Synthetic
  • 8.2.2. Natural
• 8.3. By Application (Value & Volume)
  • 8.3.1. Refractories
  • 8.3.2. Foundries
  • 8.3.3. Batteries
  • 8.3.4. Friction Products
  • 8.3.5. Lubricants
  • 8.3.6. Recarburising
  • 8.3.7. Others
• 8.4. By Country (Value & Volume)
  • 8.4.1. China
    • 8.4.1.1. By Application (Value & Volume)
      • 8.4.1.1.1. Refractories
      • 8.4.1.1.2. Foundries
      • 8.4.1.1.3. Batteries
      • 8.4.1.1.4. Friction Products
      • 8.4.1.1.5. Lubricants
      • 8.4.1.1.6. Recarburising
      • 8.4.1.1.7. Others
  • 8.4.2. Japan
    • 8.4.2.1. By Application (Value & Volume)
      • 8.4.2.1.1. Refractories
      • 8.4.2.1.2. Foundries
      • 8.4.2.1.3. Batteries
      • 8.4.2.1.4. Friction Products
      • 8.4.2.1.5. Lubricants
      • 8.4.2.1.6. Recarburising
      • 8.4.2.1.7. Others
  • 8.4.3. India
    • 8.4.3.1. By Application (Value & Volume)
      • 8.4.3.1.1. Refractories
      • 8.4.3.1.2. Foundries
      • 8.4.3.1.3. Batteries
      • 8.4.3.1.4. Friction Products
      • 8.4.3.1.5. Lubricants
      • 8.4.3.1.6. Recarburising
      • 8.4.3.1.7. Others
  • 8.4.4. ASEAN
    • 8.4.4.1. By Application (Value & Volume)
      • 8.4.4.1.1. Refractories
      • 8.4.4.1.2. Foundries
      • 8.4.4.1.3. Batteries
      • 8.4.4.1.4. Friction Products
      • 8.4.4.1.5. Lubricants
      • 8.4.4.1.6. Recarburising
      • 8.4.4.1.7. Others
  • 8.4.5. Rest of Asia Pacific
    • 8.4.5.1. By Application (Value & Volume)
      • 8.4.5.1.1. Refractories
      • 8.4.5.1.2. Foundries
      • 8.4.5.1.3. Batteries
      • 8.4.5.1.4. Friction Products
      • 8.4.5.1.5. Lubricants
      • 8.4.5.1.6. Recarburising
      • 8.4.5.1.7. Others

9. Latin America Graphite Market Analysis, Insights and Forecast, 2021-2034

• 9.1. Key Findings / Summary
• 9.2. By Product (Value & Volume)
  • 9.2.1. Synthetic
  • 9.2.2. Natural
• 9.3. By Application (Value & Volume)
  • 9.3.1. Refractories
  • 9.3.2. Foundries
  • 9.3.3. Batteries
  • 9.3.4. Friction Products
  • 9.3.5. Lubricants
  • 9.3.6. Recarburising
  • 9.3.7. Others
• 9.4. By Country (Value & Volume)
  • 9.4.1. Brazil
    • 9.4.1.1. By Application (Value & Volume)
      • 9.4.1.1.1. Refractories
      • 9.4.1.1.2. Foundries
      • 9.4.1.1.3. Batteries
      • 9.4.1.1.4. Friction Products
      • 9.4.1.1.5. Lubricants
      • 9.4.1.1.6. Recarburising
      • 9.4.1.1.7. Others
  • 9.4.2. Mexico
    • 9.4.2.1. By Application (Value & Volume)
      • 9.4.2.1.1. Refractories
      • 9.4.2.1.2. Foundries
      • 9.4.2.1.3. Batteries
      • 9.4.2.1.4. Friction Products
      • 9.4.2.1.5. Lubricants
      • 9.4.2.1.6. Recarburising
      • 9.4.2.1.7. Others
  • 9.4.3. Rest of Latin America
    • 9.4.3.1. By Application (Value & Volume)
      • 9.4.3.1.1. Refractories
      • 9.4.3.1.2. Foundries
      • 9.4.3.1.3. Batteries
      • 9.4.3.1.4. Friction Products
      • 9.4.3.1.5. Lubricants
      • 9.4.3.1.6. Recarburising
      • 9.4.3.1.7. Others

10. Middle East & Africa Graphite Market Analysis, Insights and Forecast, 2021-2034

• 10.1. Key Findings / Summary
• 10.2. By Product (Value & Volume)
  • 10.2.1. Synthetic
  • 10.2.2. Natural
• 10.3. By Application (Value & Volume)
  • 10.3.1. Refractories
  • 10.3.2. Foundries
  • 10.3.3. Batteries
  • 10.3.4. Friction Products
  • 10.3.5. Lubricants
  • 10.3.6. Recarburising
  • 10.3.7. Others
• 10.4. By Country (Value)
  • 10.4.1. GCC
    • 10.4.1.1. By Application (Value & Volume)
      • 10.4.1.1.1. Refractories
      • 10.4.1.1.2. Foundries
      • 10.4.1.1.3. Batteries
      • 10.4.1.1.4. Friction Products
      • 10.4.1.1.5. Lubricants
      • 10.4.1.1.6. Recarburising
      • 10.4.1.1.7. Others
  • 10.4.2. South Africa
    • 10.4.2.1. By Application (Value & Volume)
      • 10.4.2.1.1. Refractories
      • 10.4.2.1.2. Foundries
      • 10.4.2.1.3. Batteries
      • 10.4.2.1.4. Friction Products
      • 10.4.2.1.5. Lubricants
      • 10.4.2.1.6. Recarburising
      • 10.4.2.1.7. Others
  • 10.4.3. Rest of Middle East and Africa
    • 10.4.3.1. By Application (Value & Volume)
      • 10.4.3.1.1. Refractories
      • 10.4.3.1.2. Foundries
      • 10.4.3.1.3. Batteries
      • 10.4.3.1.4. Friction Products
      • 10.4.3.1.5. Lubricants
      • 10.4.3.1.6. Recarburising
      • 10.4.3.1.7. Others

11. Company Profiles

• 11.1. AMG
  • 11.1.1. Overview
  • 11.1.2. Description
  • 11.1.3. Product Portfolio
  • 11.1.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.1.5. Recent Developments
• 11.2. Asbury Carbons
  • 11.2.1. Overview
  • 11.2.2. Description
  • 11.2.3. Product Portfolio
  • 11.2.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.2.5. Recent Developments
• 11.3. EagleGraphite
  • 11.3.1. Overview
  • 11.3.2. Description
  • 11.3.3. Product Portfolio
  • 11.3.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.3.5. Recent Developments
• 11.4. Stoker Concast Pvt. Ltd.
  • 11.4.1. Overview
  • 11.4.2. Description
  • 11.4.3. Product Portfolio
  • 11.4.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.4.5. Recent Developments
• 11.5. Grafitbergbau Kaisersberg GmbH
  • 11.5.1. Overview
  • 11.5.2. Description
  • 11.5.3. Product Portfolio
  • 11.5.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.5.5. Recent Developments
• 11.6. BTR NEW Material Group Co., Ltd.
  • 11.6.1. Overview
  • 11.6.2. Description
  • 11.6.3. Product Portfolio
  • 11.6.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.6.5. Recent Developments
• 11.7. Imerys S.A.
  • 11.7.1. Overview
  • 11.7.2. Description
  • 11.7.3. Product Portfolio
  • 11.7.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.7.5. Recent Developments
• 11.8. Nacional de Grafite
  • 11.8.1. Overview
  • 11.8.2. Description
  • 11.8.3. Product Portfolio
  • 11.8.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.8.5. Recent Developments
• 11.9. SGL Carbon
  • 11.9.1. Overview
  • 11.9.2. Description
  • 11.9.3. Product Portfolio
  • 11.9.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.9.5. Recent Developments
• 11.10. Mineral Commodities Ltd.
  • 11.10.1. Overview
  • 11.10.2. Description
  • 11.10.3. Product Portfolio
  • 11.10.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.10.5. Recent Developments
• 11.11. Superior Graphite
  • 11.11.1. Overview
  • 11.11.2. Description
  • 11.11.3. Product Portfolio
  • 11.11.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.11.5. Recent Developments
• 11.12. Tirupati Carbons & Chemicals Pvt. Ltd
  • 11.12.1. Overview
  • 11.12.2. Description
  • 11.12.3. Product Portfolio
  • 11.12.4. Financials (Data as available in public domain and/or on paid databases)
  • 11.12.5. Recent Developments

12. Strategic Recommendationsa