ASEAN Graphite Market Regional
Analysis, Key Players and Forecasts -2031

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.

Executive Summary: Analysis

The ASEAN graphite market is experiencing robust growth, fueled by rising demand across diverse sectors including batteries, lubricants, refractories, and friction products. This growth is particularly pronounced in the lithium-ion battery segment, driven by the region's increasing adoption of electric vehicles (EVs) and energy storage systems. Graphite's unique properties, such as high thermal conductivity and wear resistance, make it essential for the automotive, electronics, and manufacturing industries.

ASEAN Graphite Market Segmentation

By Type:

• Natural
• Synthetic

By Form:

• Powder
• Flake
• Granules
• Electrode

By Application:

• Batteries
• Lubricants
• Refractories
• Friction Products
• Electrodes

Key Players

Leading companies operating in the ASEAN graphite market include

1. GES Europe GmbH
2. Graphit Kropfmühl GmbH
3. Pingdingshan Wanhui Graphite Co., Ltd.
4. China Graphite Group Limited
5. Leading Edge Materials Corp
6. SGL Carbon SE
7. Ceylon Graphite Corp
8. Imerys SA
9. Graphite Central
10. Nanjing GRF Carbon Material Co., Ltd.

These key players adopt strategies such as expansion, product innovation, and mergers and acquisitions to maintain a competitive edge and offer advanced graphite solutions to consumers.

ASEAN Graphite Market Outlook

The market is poised for further expansion, driven by the growing emphasis on sustainability. A notable example is Graphjet Technology's launch of a commercial-scale green graphite facility in Malaysia (November 2024). This facility utilizes recycled palm kernel shells to produce battery-grade graphite, highlighting the potential for sustainable graphite production within the region, especially leveraging Malaysia's abundant biomass waste. The Thai graphite market is also expanding, driven by demand for batteries, lubricants, and construction materials, with a growing focus on sustainable practices. Malaysia is strategically enhancing its market position through sustainable technologies and practices.

ASEAN Graphite Market Country Insights

The ASEAN graphite market is segmented into Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Indonesia held the largest market share in 2024.

• Indonesia: The Indonesian graphite market is significantly driven by the surging demand for lithium-ion batteries, supporting the nation's push towards becoming a major player in the global EV market. Additionally, demand from refractories, foundry, and lubricant industries contributes to market growth.
• Malaysia: Malaysia is strategically advancing its graphite market by integrating sustainable practices and innovative technologies, as demonstrated by Graphjet Technology's recycling initiative.
• Thailand: Thailand's market is characterized by diverse industrial demand, with increasing emphasis on sustainable sourcing and production.

Key drivers include the increasing demand for EVs, the growth of the electronics and manufacturing sectors, and the adoption of sustainable production practices.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights