Graphite Mining Market Analysis by Reserves, Production, Assets, Demand Drivers and Forecast to 2030
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Graphite Mining Market Report Overview
The graphite production is estimated to be 1,677.4 thousand tonnes (kt) in 2024, backed by anticipated growth in supply from Madagascar, Tanzania, Mozambique, and Canada. Looking ahead, growth in production from Tanzania, Mozambique, and Canada will drive the Graphite mining market to garner a CAGR of more than 10% from 2024 to 2030.
Graphite Mining Market Outlook, 2024-2030 (Kt)
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The Graphite mining market research report contains an overview of the global Graphite mining industry including key demand-driving factors affecting the industry. It provides detailed information on reserves, reserves by country, production, production by country, production by the company, major operating mines, competitive landscape, and major exploration and development projects.
Market Size in terms of Volume (2024) | 1,677.4 thousand tonnes (kt) |
CAGR (2023-2026) | >10% |
Forecast Period | 2024-2030 |
Historic Period | 2010-2024 |
Key Countries (By Reserves) | · China
· Brazil · Mozambique · Madagascar · Tanzania |
Active Mines | · Jixi Aoyu Graphite Mine
· Balama Graphite Project · Jixi Liumao Mine · Artsirakambo Mine · Sivaganga Graphite Mine |
Development Projects | · Mahenge Project
· Nachu Project · Nicanda Hill Project · Orom-Cross Graphite Project · Siviour Project |
Exploration Projects | · Cobra Plains Project
· Arno Graphite Project · Malsiripura Project · Lac Tetepisca Project · Springdale Project |
Leading Producers | · Aoyu Graphite Group
· Syrah Resources Ltd · Nacional de Grafite Ltda · Tirupati Graphite Plc |
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Graphite Mining Market Drivers
The Graphite industry is expected to experience significant growth in the upcoming years, driven by the growing electric vehicle (EV) market. In 2023, global EV sales reached 24.5 million EVs, of which battery electric vehicles (BEVs) alone accounted for the highest share, followed by full hybrid electric vehicles (FHEVs), mild hybrid electric vehicles (MHEVs), and plug-in hybrid electric vehicles (PHEVs). Tesla was the single largest BEV manufacturer in 2023 with 1.8 million units.
Furthermore, government initiatives to ensure the production of good quality Graphite will also be a major growth contributor. For instance, on October 20, 2023, China’s Ministry of Commerce (MOFCOM) and the General Administration of Customs (GAC) announced that certain Graphite products including high-purity, high-hardness, and high-intensity synthetic Graphite material and natural flake Graphite and its products would require export permits starting from December 1, 2023. Moreover, the export permits need to be renewed every six months. The main aim of the policy is to restrict exports of highly sensitive Graphite products.
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Graphite Mining Market Segmentation by Countries
According to the US Geological Survey (USGS), global natural Graphite reserves stood at 280 million tonnes (Mt) as of January 2024. The countries with natural Graphite reserves globally are China, Brazil, Mozambique, Madagascar, and Tanzania among others. In 2024, China accounted for the highest Graphite reserves, followed by Brazil and Mozambique.
Graphite Mining Reserves Market Analysis by Countries, 2024 (%)
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Graphite Mining Market – Key Assets
Active Mines – The key active Graphite mines are Jixi Aoyu Graphite Mine, Balama Graphite Project, Jixi Liumao Mine, Artsirakambo Mine, and Sivaganga Graphite Mine among others.
Development Projects – The Graphite development projects are the Mahenge Project, Nachu Project, Nicanda Hill Project, Orom-Cross Graphite Project, and Siviour Project Project among others.
Exploration Projects – The key Graphite exploration projects are the Cobra Plains Project, Arno Graphite Project, Malsiripura Project, Lac Tetepisca Project, and Springdale Project among others.
India, Madagascar, Brazil, and Sri Lanka hold the majority of the world’s Graphite reserves. The Balama Graphite Project in northern Mozambique contains the world’s largest high-grade Graphite resource. The project spans 106 square kilometers in the Namuno region of the Cabo Delgado province.
Graphite Mining Market Analysis by Active Mine Reserves, 2024 (%)
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Graphite Mining Market – Competitive Landscape
The leading Graphite-producing companies are:
- Aoyu Graphite Group
- Syrah Resources Ltd
- Nacional de Grafite Ltda
- Tirupati Graphite Plc
Aoyu Graphite Group: Aoyu Graphite Group is one of the largest natural Graphite producers based in China. The company is involved in Graphite mining and production through its Jixi Aoyu Graphite mine.
Graphite Mining Market Analysis by Companies
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Key Segments Covered in this Report
Graphite Mining Market Country Outlook (Volume, Million Tonnes, 2010-2030)
- China
- Brazil
- Mozambique
- Madagascar
- Tanzania
- Others
Scope
The report contains an overview of the global Graphite mining industry including key demand driving factors affecting the global Graphite mining industry. It provides detailed information on reserves, reserves by country, production, production by country, production by company, major operating mines, competitive landscape, major exploration, and development projects.
Reasons to Buy
- To gain an understanding of the global Graphite mining industry, relevant driving factors
- To understand historical and forecast trends in global Graphite production
- To identify key players in the global Graphite mining industry
- To identify major active, exploration and development projects by region
Syrah Resources Ltd
Nacional de Grafite Ltda
Tirupati Graphite Plc
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Frequently asked questions
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What was the Graphite mining market size in 2024?
The Graphite mining production is estimated to be 1,677.4 thousand tonnes (kt) in 2024.
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What will be the estimated Graphite mining market growth rate from 2024 to 2030?
Graphite production is expected to grow at a CAGR of more than 10% from 2024 to 2030.
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Which are the leading countries in terms of Graphite reserves in 2024?
China is the world’s largest Graphite producer as of January 2024, supported by the strong demand for battery minerals.
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Which active mine held the largest Graphite reserve count in 2024?
The Balama Graphite Project in northern Mozambique contains the world’s largest high-grade Graphite resource in 2024.
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Which are the leading producers in the Graphite mining market?
The leading Graphite producers are Aoyu Graphite Group, Syrah Resources Ltd, Nacional de Grafite Ltda, and Tirupati Graphite Plc.
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