Graphite Market Market Size

Graphite Market size is poised to reach USD 5.88 Billion by the end of 2036, growing at a CAGR of 7.5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the graphite was USD 2.47 Billion. The market is growing as a result of the increase in graphite production worldwide, which can be primarily attributed to the high production frequency in the glass manufacturing industry.

Graphite carbon is crucial for the glass sector due to its properties like high thermal conductivity, non-wetting, and non-scratching. Graphite items produced for the glass industry include bars, discs, fixtures, mandrels, molds, paddles, plates, and reamers. Studies suggest that an estimated 22 million tons of glass products were produced in 2022 alone.

There is an increased need for graphite in modern engineering and coating applications as graphite is utilized to create graphene-infused coatings and graphene-based innovative engineered materials. Graphite is utilized to create graphene-infused coatings and graphene-based innovative engineered materials. In engineering, graphite is used for several functions, such as vanes, thrust bearings, journal bearings, and piston rings, as well as to lubricate rubber, plastic, and metallic parts without the need for grease.