Graphite demand is about to enter a period of rapid growth and price escalation. Consumption had previously been led by steel market applications and Chinese industrialisation but had slowed as Chinese steel output growth slowed during the period 2010 to 2017. However, rapid growth in demand for natural flake graphite and synthetic graphite in the lithium-ion battery industry is now forecast to underpin total graphite demand growth of 5–7%py between 2017 and 2027. By 2027, consumption of graphite in battery applications could be 5 to 10 times higher than the current level, dependent on the uptake of lithium-ion battery-based electric vehicles (EVs) and other lithium-ion battery applications.
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