M. Garside
Research lead covering energy, chemicals & resources
Global graphite mining industry - statistics & facts
A crystalline allotrope of carbon and the most stable form of carbon, graphite is consumed on a large scale globally for several important industrial and energy transition applications. In 2023, the worldwide graphite demand for electric vehicles and battery storage amounted to 1.29 million metric tons, or about 28 percent of total demand. By 2030, it is forecast in the Net Zero Emissions scenario that a 65 percent share of global graphite demand will be attributed to clean energy uses. As of 2023, graphite reserves amounted to 280 million metric tons worldwide, while the total global production of graphite was an estimated 1.6 million metric tons.
Perhaps not surprisingly, China was also the leading exporter of both natural and artificial graphite as of 2023. Mozambique trailed China as the second largest natural graphite exporter that year, with China’s export value amounting to 261 million U.S. dollars while Mozambique’s amounted to less than 33 million U.S. dollars. Artificial graphite, produced by heat treating petroleum coke, tar-pitch, or oil, had Germany come second to China as the top two global artificial graphite exporters in 2023, at nearly 561,000 metric tons and 36,400 metric tons, respectively.
With global graphite demand expected to increase to over seven million metric tons by 2035 due to the push for net-zero emissions, it is estimated that over 300 new graphite mines would be required to open by that year in order to meet the supply gap of over six million metric tons compared with 2022 supply figures. The current number of graphite mines operating worldwide, at about 70 in total, pales in comparison to this projected demand increase.
Graphite mining and trade
China was the leading graphite producing country worldwide in 2023, with a natural graphite mine production volume that amounted to an estimated 1.23 million metric tons, over 77 percent of the world's graphite production. China is also the country with the largest graphite reserves in the world, at 78 million metric tons. This was closely followed by Brazil, with 74 million metric tons worth of graphite reserves.Perhaps not surprisingly, China was also the leading exporter of both natural and artificial graphite as of 2023. Mozambique trailed China as the second largest natural graphite exporter that year, with China’s export value amounting to 261 million U.S. dollars while Mozambique’s amounted to less than 33 million U.S. dollars. Artificial graphite, produced by heat treating petroleum coke, tar-pitch, or oil, had Germany come second to China as the top two global artificial graphite exporters in 2023, at nearly 561,000 metric tons and 36,400 metric tons, respectively.
Batteries and other uses of graphite
Graphite easily conducts electricity because there are electrons between the layers of carbon atoms. Due to its high conductivity, graphite is used in electrodes, solar panels, and as the conductive anode and largest commodity component of lithium ion batteries based on volume. It is categorized as one of the most important battery minerals, with the electric vehicle market in particular driving graphite demand. Under high pressures and temperatures, graphite turns into diamonds, which is how lab-grown diamonds are produced. On a more low-tech level, graphite is also used as the so-called lead in pencils.With global graphite demand expected to increase to over seven million metric tons by 2035 due to the push for net-zero emissions, it is estimated that over 300 new graphite mines would be required to open by that year in order to meet the supply gap of over six million metric tons compared with 2022 supply figures. The current number of graphite mines operating worldwide, at about 70 in total, pales in comparison to this projected demand increase.
