ASEAN Graphite Market Outlook (2021-2031)
Description
The ASEAN graphite market is projected to reach USD 1,395.06 million by 2031, up from USD 846.74 million in 2024. The estimated compound annual growth rate (CAGR) from 2024 to 2031 is 7.4%.
ASEAN Graphite Market Analysis:
The ASEAN graphite market is experiencing significant growth, primarily driven by the rising demand for graphite in various applications, including batteries, lubricants, refractories, and friction products. ASEAN countries have a robust industrial base and advanced technologies, positioning them as global leaders in graphite production and consumption. This growth is particularly driven by the increasing demand for high-quality graphite used in lithium-ion batteries for electric vehicles (EVs) and energy storage systems, which are central to the region's shift toward sustainable energy solutions. Additionally, graphite’s unique properties, such as high thermal conductivity and wear resistance, make it essential in industries like automotive, electronics, and manufacturing.
Segmentation Analysis
Key segments that helped derive the ASEAN graphite market analysis include type and application.
Type: The market is divided into natural and synthetic graphite. In 2024, the synthetic segment captured the largest market share.
Form: The market is segmented into powder, flake, granules, electrode, and other forms. The flake segment held the largest share in 2024.
Application: The market is divided into batteries, lubricants, refractories, friction products, electrodes, and others. The electrode segment constituted the largest share in 2024.
Market Outlook:
The ASEAN graphite market is set for substantial growth, driven by increasing demand for sustainable and eco-friendly practices across various sectors. In November 2024, Graphjet Technology, a Malaysian company, launched its first commercial-scale green graphite facility in Subang District. This facility recycles palm kernel shells—an abundant agricultural byproduct—to produce battery-grade graphite. The plant can recycle up to 9,000 metric tons of shells annually, generating up to 3,000 metric tons of graphite per year, sufficient to support battery production for approximately 40,000 EVs annually. Malaysia’s abundant biomass waste from palm oil production presents a significant opportunity for innovative companies to leverage this trend, setting the stage for market expansion through sustainable practices and the recycling of palm oil byproducts.
In Thailand, the graphite market is driven by demand from various industrial applications, including batteries, lubricants, and construction materials. With the global interest in sustainable and high-performance materials on the rise, Malaysia is emerging as a key player in the graphite supply chain, attracting investments and promoting technological advancements in extraction and processing methods. Environmental regulations and the recycling of graphite are also influencing the market, prompting local producers to adopt more sustainable practices and elevate their offerings.
Country Insights:
Regionally, the ASEAN graphite market is further segmented into Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. In 2024, Indonesia held the largest market share.
The graphite market in Indonesia has seen significant growth, primarily driven by the country's increasing demand for lithium-ion batteries used in EVs and mobile devices. The demand for graphite is expected to escalate as the government commits to becoming a major player in the global electric vehicle market. Furthermore, the growing need for graphite in the production of refractories, foundries, and lubricants continues to fuel market expansion.
Key Players
Key players in the graphite market include GES Europe GmbH, Graphit Kropfmühl GmbH, Pingdingshan Wanhui Graphite Co., Ltd, China Graphite Group Limited, Leading Edge Materials Corp, SGL Carbon SE, Ceylon Graphite Corp, Imerys SA, Graphite Central, and Nanjing GRF Carbon Material Co., Ltd. These companies adopt various strategies, including expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and offer innovative products to consumers.
ASEAN Graphite Market Analysis:
The ASEAN graphite market is experiencing significant growth, primarily driven by the rising demand for graphite in various applications, including batteries, lubricants, refractories, and friction products. ASEAN countries have a robust industrial base and advanced technologies, positioning them as global leaders in graphite production and consumption. This growth is particularly driven by the increasing demand for high-quality graphite used in lithium-ion batteries for electric vehicles (EVs) and energy storage systems, which are central to the region's shift toward sustainable energy solutions. Additionally, graphite’s unique properties, such as high thermal conductivity and wear resistance, make it essential in industries like automotive, electronics, and manufacturing.
Segmentation Analysis
Key segments that helped derive the ASEAN graphite market analysis include type and application.
Type: The market is divided into natural and synthetic graphite. In 2024, the synthetic segment captured the largest market share.
Form: The market is segmented into powder, flake, granules, electrode, and other forms. The flake segment held the largest share in 2024.
Application: The market is divided into batteries, lubricants, refractories, friction products, electrodes, and others. The electrode segment constituted the largest share in 2024.
Market Outlook:
The ASEAN graphite market is set for substantial growth, driven by increasing demand for sustainable and eco-friendly practices across various sectors. In November 2024, Graphjet Technology, a Malaysian company, launched its first commercial-scale green graphite facility in Subang District. This facility recycles palm kernel shells—an abundant agricultural byproduct—to produce battery-grade graphite. The plant can recycle up to 9,000 metric tons of shells annually, generating up to 3,000 metric tons of graphite per year, sufficient to support battery production for approximately 40,000 EVs annually. Malaysia’s abundant biomass waste from palm oil production presents a significant opportunity for innovative companies to leverage this trend, setting the stage for market expansion through sustainable practices and the recycling of palm oil byproducts.
In Thailand, the graphite market is driven by demand from various industrial applications, including batteries, lubricants, and construction materials. With the global interest in sustainable and high-performance materials on the rise, Malaysia is emerging as a key player in the graphite supply chain, attracting investments and promoting technological advancements in extraction and processing methods. Environmental regulations and the recycling of graphite are also influencing the market, prompting local producers to adopt more sustainable practices and elevate their offerings.
Country Insights:
Regionally, the ASEAN graphite market is further segmented into Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. In 2024, Indonesia held the largest market share.
The graphite market in Indonesia has seen significant growth, primarily driven by the country's increasing demand for lithium-ion batteries used in EVs and mobile devices. The demand for graphite is expected to escalate as the government commits to becoming a major player in the global electric vehicle market. Furthermore, the growing need for graphite in the production of refractories, foundries, and lubricants continues to fuel market expansion.
Key Players
Key players in the graphite market include GES Europe GmbH, Graphit Kropfmühl GmbH, Pingdingshan Wanhui Graphite Co., Ltd, China Graphite Group Limited, Leading Edge Materials Corp, SGL Carbon SE, Ceylon Graphite Corp, Imerys SA, Graphite Central, and Nanjing GRF Carbon Material Co., Ltd. These companies adopt various strategies, including expansion, product innovation, and mergers and acquisitions, to maintain competitiveness and offer innovative products to consumers.
Table of Contents
117 Pages
- 1. Introduction
- 1.1 Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Insights
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Data Triangulation and Validation:
- 4. Graphite Market Landscape
- 4.1 Global Overview
- 4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain
- 5. Graphite Market – Key Market Dynamics
- 5.1 Graphite Market – Key Market Dynamics
- 5.1 Market Drivers
- 5.2 Market Restraints
- 5.3 Market Opportunities
- 5.4 Future Trends
- 5.5 Impact of Drivers and Restraints:
- 6. ASEAN Graphite Market Analysis
- 6.1 ASEAN Graphite Market Revenue (US$ Million), 2021–2031
- 6.2 ASEAN Graphite Market Forecast Analysis
- 7. ASEAN Graphite Market Analysis – by Type
- 7.1 Natural
- 7.1.1 Overview
- 7.1.2 Natural: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 7.2 Synthetic
- 7.2.1 Overview
- 7.2.2 Synthetic: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8. ASEAN Graphite Market Analysis – by Form
- 8.1 Powder
- 8.1.1 Overview
- 8.1.2 Powder: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.2 Flake
- 8.2.1 Overview
- 8.2.2 Flake: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.3 Granules
- 8.3.1 Overview
- 8.3.2 Granules: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.4 Electrode
- 8.4.1 Overview
- 8.4.2 Electrode: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9. ASEAN Graphite Market Analysis – by Application
- 9.1 Batteries
- 9.1.1 Overview
- 9.1.2 Batteries: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.2 Lubricants
- 9.2.1 Overview
- 9.2.2 Lubricants: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.3 Refractories
- 9.3.1 Overview
- 9.3.2 Refractories: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.4 Friction Products
- 9.4.1 Overview
- 9.4.2 Friction Products: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.5 Electrodes
- 9.5.1 Overview
- 9.5.2 Electrodes: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 9.6 Others
- 9.6.1 Overview
- 9.6.2 Others: ASEAN Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10. ASEAN Graphite Market – Country Analysis
- 10.1 ASEAN
- 10.1.1 ASEAN Graphite Market – Share (%) – by Country
- 10.1.1.1 ASEAN Graphite Market – Revenue and Forecast Analysis – by Country
- 10.1.1.2 Indonesia: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.2.1 Indonesia: Graphite Market Share – by Type
- 10.1.1.2.2 Indonesia: Graphite Market Share – by Form
- 10.1.1.2.3 Indonesia: Graphite Market Share – by Application
- 10.1.1.3 Malaysia: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.3.1 Malaysia: Graphite Market Share – by Type
- 10.1.1.3.2 Malaysia: Graphite Market Share – by Form
- 10.1.1.3.3 Malaysia: Graphite Market Share – by Application
- 10.1.1.4 Philippines: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.4.1 Philippines: Graphite Market Share – by Type
- 10.1.1.4.2 Philippines: Graphite Market Share – by Form
- 10.1.1.4.3 Philippines: Graphite Market Share – by Application
- 10.1.1.5 Singapore: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.5.1 Singapore: Graphite Market Share – by Type
- 10.1.1.5.2 Singapore: Graphite Market Share – by Form
- 10.1.1.5.3 Singapore: Graphite Market Share – by Application
- 10.1.1.6 Thailand: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.6.1 Thailand: Graphite Market Share – by Type
- 10.1.1.6.2 Thailand: Graphite Market Share – by Form
- 10.1.1.6.3 Thailand: Graphite Market Share – by Application
- 10.1.1.7 Vietnam: Graphite Market – Revenue and Forecast, 2021–2031 (US$ Million)
- 10.1.1.7.1 Vietnam: Graphite Market Share – by Type
- 10.1.1.7.2 Vietnam: Graphite Market Share – by Form
- 10.1.1.7.3 Vietnam: Graphite Market Share – by Application
- 11. Competitive Landscape
- 11.1 Heat Map Analysis by Key Players
- 11.2 Company Positioning and Concentration
- 12. Industry Landscape
- 12.1 Overview
- 12.2 Market Initiative
- 12.3 Partnerships and Collaborations
- 12.4 Other Developments
- 13. Company Profiles
- 13.1 GES Europe GmbH
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Pingdingshan Wanhui Graphite Co., Ltd.
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 China Graphite Group Limited
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 Leading Edge Materials Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 SGL Carbon SE
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Ceylon Graphite Corp
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 Imerys SA
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Graphite Central
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Nanjing GRF Carbon Material Co., Ltd.
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 AMG Critical Materials NV
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
- 14.2 List of Abbreviations
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