February 28, 2024

Emerging Battery Industry To Boost The Growth Of Flake Graphite Market

Flake graphite refers to a naturally occurring crystalline flake form of mineral graphite. Flake graphite finds extensive applications as lubricants, fire retardants, electrodes, refractories, foundry facings, and pencils. It possesses excellent thermal and electrical conductivity properties. The growing traction towards lithium-ion batteries in electronic appliances and electric vehicles is driving the demand for flake graphite as anode materials in rechargeable batteries. Flake graphite accounts for around 30% of the global natural graphite demand.

The global Flake Graphite Market is estimated to be valued at US$ 16.05 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in the flake graphite market is the increasing use of flake graphite in lithium-ion batteries. Battery-grade flake graphite demand is projected to grow at over 9% CAGR during the forecast period owing to rapid penetration of electric vehicles and focus on renewable energy storage. Flake graphite accounts for around 50-60% of the total anode materials used in lithium-ion batteries. Expanding electronic gadgets and stationary battery storage industry are also contributing to the rising consumption of flake graphite in batteries. Additionally, constant R&D towards superior purity and larger flakes is further assisting the growth of flake graphite market.
Porter’s Analysis

Threat of new entrants: Low capital requirements and availability of raw materials as well as technology poses a low threat of new entrants in the flake graphite market.

Bargaining power of buyers: Buyers have moderate bargaining power given the presence of substitutes and differentiated product offerings from manufacturers.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power as flake graphite deposits are concentrated in limited regions and mining the mineral requires specialized equipment and skills.

Threat of new substitutes: There exists a moderate threat from substitutes like synthetic graphite and graphene due to their superior properties.

Competitive rivalry: The global flake graphite market is moderately competitive due to the presence of large players and availability of low-cost substitutes.

Key Takeaways

The global flake graphite market is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing demand from lithium-ion battery production. The market size for 2023 is US$ 16.05 Bn.

On a regional basis, Asia Pacific dominated the global flake graphite market in 2022 and is expected to maintain its leading position over the forecast period. This can be attributed to the large presence of manufacturing units of lithium-ion batteries and increasing investments in the region. China represents the largest producer and exporter of flake graphite globally.

Key players operating in the flake graphite market are AMG, Asbury Carbons, Eagle Graphite, EPM Group, Grafitbergbau Kaisersberg GmbH, Graphite India Limited (GIL), Imerys, and Nacional de Grafite. These players are focusing on capacity expansion and vertical integration to gain a competitive advantage in the market.


1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it