Graphite Market Market Share

APAC Market Forecast

The graphite market in Asia Pacific industry is likely to hold largest revenue share of 47% by 2037, impelled by rapid industrialization in countries such as China, India, and Japan, and increasing demand for graphite from steel manufacturers is set to positively impact the market in the region.

In addition to that, India and China are among the world's largest crude steel producers. Furthermore, China is the world's largest consumer and producer of graphite electrodes. Based on US Geological Survey data, China produced 820,000 tons of graphite in 2021; this number increased to an approximate 1.25 million tons in 2023. This accounts for 79 percent of the world's graphite production. 

North American Market Statistics

The North American graphite market is expected to be the second largest by the end of 2037. The increase in the production of electric vehicles in the United States has increased the demand for lithium-ion batteries, which has resulted in more graphite consumption.

In addition, the tremendous investments in research and development activities to increase the graphite production areas are also slated to grow in the North American market.