Graphite is in the middle of a transition from traditional steel-related uses towards use in lithium-ion batteries. However, the market has been challenging so far this year. Despite this, Wood Mackenzie sees significant growth on the horizon for both natural and synthetic graphite, with total graphite demand nearly doubling over the next decade. Supply of natural graphite is likely to be a challenge for the industry. Deficits are forecast for spherical graphite (the anode material) and the precursor graphite flake, with prices likely to respond by moving higher.