Flake Graphite Market Size

Flake Graphite Market size is expected to cross USD 972 Billion by the end of 2036, witnessing around 2% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of flake graphite was USD 79 Billion. The market for flake graphite is expected to grow due to the growing popularity of electric vehicles, flake graphite is used as an anode in lithium ion batteries. These batteries are highly used to run electric vehicles, thus high demand for EVs is predicted to drive the market expansion in the future. In the year 2022, over 7.3 million battery-electric vehicles were produced globally. 

Additionally, in order to meet the growing demand for graphene batteries, different graphite producers are thinking of raising their output of graphite. This is expanding the potential applications for flake graphite and is a major factor supporting the market's growth over the forecast period In addition, the graphite industry is seeing a rise in the usage of subsurface drones to create three-dimensional (3D) mapping for mine planning, which is contributing to the market expansion.