ASEAN Graphite Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00031230 | Category: Chemicals and Materials
No. of Pages: 150 | Report Code: BMIRE00031230 | Category: Chemicals and Materials
The ASEAN Graphite Market size is expected to reach US$ 1,395.06 million by 2031 from US$ 846.74 million in 2024. The market is estimated to record a CAGR of 6.4 % from 2024 to 2031.
The ASEAN graphite market is witnessing significant growth, primarily driven by the increasing demand for graphite across various applications such as batteries, lubricants, refractories, and friction products. ASEAN countries are known for their strong industrial foundation and technological advancements, and they have also emerged as global leaders in graphite production and consumption. This growth is particularly fueled by the surge in demand for high-quality graphite in lithium-ion batteries used for EVs and energy storage systems, which are becoming central to the region's push toward sustainable energy solutions. Further, graphite's unique properties, including high thermal conductivity and resistance to wear, make it indispensable in industries such as automotive, electronics, and manufacturing.
Key segments that contributed to the derivation of the ASEAN graphite market analysis are type and application.
The ASEAN graphite market is poised for significant growth, driven by the increasing demand for sustainable and eco-friendly practices in different sectors. In November 2024, Graphjet Technology, a Malaysian company, launched its first commercial-scale green graphite facility in Subang District. The facility recycles palm kernel shells, an abundant agricultural byproduct, to produce battery-grade graphite. The facility can recycle up to 9,000 metric tons of shells annually, producing up to 3,000 metric tons of graphite per year. This production is enough to support battery production for around 40,000 EVs annually. The country's abundant supply of biomass waste residues from palm oil production presents a significant opportunity for innovative companies to capitalize on this trend. Thus, the Malaysian graphite market is set for expansion, driven by sustainable practices and innovative recycling of palm oil byproducts.
The graphite market in Thailand is characterized by the demand generated in various industrial applications, including batteries, lubricants, and construction materials. As global interest in sustainable and high-performance materials rises, Malaysia has positioned itself as a key contributor to the graphite supply chain, attracting investments and fostering technological advancements in extraction and processing methods. The market is also influenced by environmental regulations and the recycling of graphite, prompting local producers to adopt more sustainable practices. Hence, Malaysia is strategically enhancing its graphite market by integrating sustainable practices and innovative technologies.
Based on region, the ASEAN graphite market is further segmented into Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Indonesia held the largest share in 2024.
The graphite market in Indonesia has experienced significant growth in recent years, driven primarily by the country's increasing demand for lithium-ion batteries used in EVs and mobile devices. The demand for graphite is expected to surge in Indonesia with the government's commitment to becoming a major player in the global electric vehicle market. Additionally, the growing need for graphite in the production of refractories, foundry, and lubricants further boosts the market's expansion.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 846.74 Million |
| Market Size by 2031 | US$ 1,395.06 Million |
| Global CAGR (2025 - 2031) | 6.4 % |
| Historical Data | 2022-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | ASEAN
|
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. are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The ASEAN Graphite Market is valued at US$ 846.74 Million in 2024, it is projected to reach US$ 1,395.06 Million by 2031.
As per our report ASEAN Graphite Market, the market size is valued at US$ 846.74 Million in 2024, projecting it to reach US$ 1,395.06 Million by 2031. This translates to a CAGR of approximately 6.4 % during the forecast period.
The ASEAN Graphite Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the ASEAN Graphite Market report:
The ASEAN Graphite Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The ASEAN Graphite Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the ASEAN Graphite Market value chain can benefit from the information contained in a comprehensive market report.
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