Global Graphite Market Size Projected To Grow To $25.70 Billion In 2028

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., March 30, 2023 /PRNewswire/ — Graphite is a kind of elemental carbon that is one of the few elements found in its natural state. It combines metallic and non-metallic qualities, making it ideal for a wide variety of industrial applications. It has high electrical and thermal conductivity, exceptional thermal stability, and lubricity. In the coming decades, this industry is expected to face major market shifts, as the booming lithium-ion battery industry is expected to significantly boost production. Via the use of refractory materials, the steel industry has historically been the driver of consumption. Robust growth for the battery industry is expected to fuel demand, depending on economic factors such as market penetration and adoption, as a growing number of countries around the world step up their efforts to encourage the production and use of green energy in order to transition towards a lower emission future in the transport and energy sectors.  A report from Fortune Business Insights projected that the global graphite market size was USD 13.60 billion in 2020 and is projected to grow from USD 14.83 billion in 2021 to USD 25.70 billion in 2028 at a CAGR of 8.2% during the 2021-2028 period.  Active companies in the markets this week include: Reflex Advanced Materials Corp. (OTCQB: RFLXF) (CSE: RFLX), Tesla, Inc. (NASDAQ: TSLA), Patriot Battery Metals Inc. (OTCQX: PMETF)  (TSX-V: PMET), Syrah Resources Limited (OTCPK: SYAAF) (OTCPK: SRHYY), Nouveau Monde Graphite Inc. (NYSE: NMG) (TSX-V: NOU).

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