Global graphite market strategic planning outlook - Q2 2022

Over the next ten years, demand for graphite in batteries will see double-digit growth, creating a tight market for battery grades and encouraging extra investment in new mines and plants already under development. The total graphite market could double by 2034. In the longer term, graphite consumption in batteries will slow with the increasing use of alternative materials technologies such as higher silicon loading in the anode and solid-state batteries. Graphite demand could transition to a decline in the final years of the forecast. Total demand growth between 2032 and 2050 will rise by 1.6% per year to reach 9.34 Mt. China will continue to dominate battery-grade raw material flake, refined flake (spherical graphite) and synthetic graphite. It is expected to lose market share in all sectors to 2050. China is currently the only producer of spherical graphite but geopolitical pressures, ESG concerns, and supply chain disruption are driving the development of an ex-China supply chain.