Graphite statistics span natural-graphite mining, reserves, refining, battery demand, electrodes and company operations. The measures below identify their geography, period and definition so that mine output, scenario forecasts, imports and product-specific results are not treated as interchangeable.
Key Graphite Statistics
The following figures summarize the most useful global, national and company-level measures:
- In 2023, world natural-graphite mine production was about 1,600,000 metric tons.
- In the 2024 USGS summary, world natural-graphite reserves were about 280,000,000 metric tons.
- In 2023, China mined 1,230,000 metric tons of natural graphite.
- In 2023, Brazil reported 74,000,000 metric tons of graphite reserves.
- In the IEA Announced Pledges Scenario, global cleantech graphite demand was 1,292 kilotons in 2023.
- The IEA APS forecasts total global graphite demand of 10,419 kilotons in 2030.
- The IEA APS forecasts primary graphite supply requirements of 13,535 kilotons in 2040.
- Secondary supply and reuse provided 308 kilotons of graphite globally in 2023 in the IEA APS series.
- The top three graphite-mining countries supplied 92% of global mining in 2023 in the IEA APS milestones.
- The top three graphite-refining countries accounted for 98% of global refining supply in 2023 in the IEA APS milestones.
- Graphite demand in the IEA APS is projected to grow 12% annually, versus 3% annually during 2010–2019.
- About 95 U.S. companies consumed natural graphite in 2023.
- U.S. natural-graphite imports were estimated at 84,000 metric tons in 2023.
- U.S. lithium-ion battery manufacturing facilities increased from 3 operating facilities in 2019 to 10 in 2023.
- GrafTech produced 97.3 thousand metric tons of graphite electrodes in 2024.
- GrafTech’s 2024 weighted-average realized price was about $4,200 per metric ton for non-LTA electrode sales.
- Tirupati Graphite produced 7,096 metric tons of flake graphite in the year ended 31 March 2024.
- Tirupati reported £4,903,856 in FY2024 revenue.
Contents
- Graphite production and reserves by country
- Graphite demand, battery use and long-term trends
- Graphite supply concentration and refining data
- Graphite prices, imports and U.S. market statistics
- Graphite electrode capacity, production and sales
- Graphite mining company production, costs and revenue
Graphite Production and Reserves by Country
The U.S. Geological Survey’s 2024 natural-graphite summary separates calendar-year mine production from reserves reported in the same reference framework. Production figures marked as estimates should remain distinct from geological or economic reserve categories.
| Country | 2023 mine production | Reserves reported 2024 |
|---|---|---|
| China | 1,230,000 metric tons | 78,000,000 metric tons |
| Madagascar | 100,000 metric tons | 24,000,000 metric tons |
| Mozambique | 96,000 metric tons | 25,000,000 metric tons |
| Brazil | 73,000 metric tons (estimated) | 74,000,000 metric tons |
| South Korea | 27,000 metric tons | 1,800,000 metric tons |
| Russia | 16,000 metric tons (estimated) | 14,000,000 metric tons |
| India | 11,500 metric tons | 8,600,000 metric tons |
| Tanzania | 6,000 metric tons (estimated) | 18,000,000 metric tons |
| Canada | 3,500 metric tons | 5,700,000 metric tons |
Source: Mineral Commodity Summaries 2024: Graphite (Natural). USGS world-table production and reserve measures use different concepts, and reserves are not annual output.
Additional country observations in the same USGS table were 7,200 metric tons of Norwegian mine production and 600,000 metric tons of reserves, 2,200 metric tons of Sri Lankan production and 1,500,000 metric tons of reserves, 2,000 metric tons of Mexican production and 3,100,000 metric tons of reserves, and 2,000 metric tons of Turkish production and 6,900,000 metric tons of reserves in the stated periods.
World natural-graphite mine production was about 1,600,000 metric tons in 2023, compared with 1,680,000 metric tons in 2022. The USGS reported about 280,000,000 metric tons of world reserves in its 2024 summary, with reserve estimates dependent on reporting and the agency’s definitions.
Graphite Demand, Battery Use and Long-Term Trends
The IEA’s Announced Pledges Scenario, or APS, distinguishes cleantech applications, other graphite uses, total demand, secondary supply and primary supply requirements. Its future values are scenario forecasts rather than observed outcomes.
| IEA APS measure | 2021 | 2023 | 2030 forecast | 2040 forecast |
|---|---|---|---|---|
| Cleantech demand | 532 kt | 1,292 kt | 6,013 kt | 9,839 kt |
| Other uses | 3,388 kt | 3,340 kt | 4,406 kt | 6,185 kt |
| Total demand | 3,920 kt | 4,632 kt | 10,419 kt | 16,023 kt |
| Secondary supply and reuse | 149 kt | 308 kt | 1,333 kt | 2,489 kt |
| Primary supply requirements | 3,771 kt | 4,324 kt | 9,086 kt | 13,535 kt |
Source: Graphite: Outlook for key energy transition minerals. The IEA categories and APS assumptions should not be read as a single mine-production series.
The IEA’s 2025 critical-minerals outlook estimates that graphite demand increased by 6%–8% in 2024. Its 85% estimate for energy-sector demand growth over the 2022–2024 context covers lithium, nickel, cobalt and graphite collectively, not graphite alone.
The same outlook reports that graphite prices fell by 10%–20% in 2024, but the stated range covers graphite, cobalt and nickel collectively. These group-level figures therefore provide market context without isolating a graphite-only price change.
Source: Global Critical Minerals Outlook 2025: Executive summary.
Graphite Supply Concentration and Refining Data
Graphite supply concentration is especially visible when mining and refining are considered separately. In the IEA APS milestones, the top three mining countries supplied 89% of the market in 2021 and 92% in 2023, with projected shares of 88% in 2030 and 89% in 2040.
Refining was more concentrated in the same series: the top three refining countries accounted for 97% of supply in 2021 and 98% in 2023, with the APS projecting 97% in 2030 and 98% in 2040. These are top-three share measures, not a complete country-by-country production table.
| Concentration measure | 2021 | 2023 | 2030 forecast | 2040 forecast |
|---|---|---|---|---|
| Top three mining countries | 89% | 92% | 88% | 89% |
| Top three refining countries | 97% | 98% | 97% | 98% |
The IEA APS projects graphite demand to grow 12% annually, compared with 3% annually during 2010–2019. It also estimates that in 2030 demand outside the top graphite producer will be 10 times supply outside that producer, a geopolitical-risk indicator based on outlook assumptions.
Source: Graphite: Outlook for key energy transition minerals. The IEA concentration and demand figures include scenario-based forecasts where labeled.
Graphite Prices, Imports and U.S. Market Statistics
The USGS describes a U.S. natural-graphite consuming base of about 95 companies in 2023, primarily in the Great Lakes and Northeast regions. Estimated domestic consumption was approximately 76,000 metric tons, while estimated imports were 84,000 metric tons.
| U.S. natural-graphite import category | Share of estimated 2023 imports |
|---|---|
| Flake and high-purity graphite | 89.3% |
| Amorphous graphite | 10.4% |
| Lump and chip graphite | 0.3% |
Source: Mineral Commodity Summaries 2024: Graphite (Natural). The percentages are shares within the USGS estimated 84,000-ton import total, not separate supply totals.
U.S. lithium-ion battery manufacturing facilities increased from 3 operating facilities in 2019 to 10 in 2023, according to the USGS, and another 28 facilities were under development in 2023. The under-development count does not mean that those facilities had completed capacity.
Graphite Electrode Capacity, Production and Sales
GrafTech’s figures cover graphite electrodes at its global operations, not the whole graphite market. Production rose from 88.1 thousand metric tons in 2023 to 97.3 thousand metric tons in 2024, while sales volume rose from 91.6 thousand to 103.2 thousand metric tons.
| GrafTech measure | 2023 | 2024 |
|---|---|---|
| Production | 88.1 kt | 97.3 kt |
| Sales volume | 91.6 kt | 103.2 kt |
| Stated production capacity | 202.0 kt | 178.0 kt |
| Capacity utilization | 44% | 55% |
Source: GrafTech International Ltd. Form 10-K for the year ended December 31, 2024. Utilization is company-defined as production volume divided by production capacity, and stated capacity depends on product mix and expected maintenance outages.
In 2024, GrafTech reported 13 thousand metric tons of long-term-agreement sales and 90 thousand tons of non-LTA sales. Weighted-average realized prices were about $8,100 per metric ton for LTA sales and $4,200 for non-LTA sales; the non-LTA price was 22% lower than in 2023.
GrafTech’s inflation-adjusted weighted-average non-LTA electrode price for 2005–2024 was about $6,000 per metric ton in constant 2024 dollars, while the price during the 2016 demand trough was about $3,000. At St.
Marys, Pennsylvania, the company retained capability for up to 28,000 metric tons per year of electrodes and pins in 2024, although most production was suspended.
Graphite Mining Company Production, Costs and Revenue
Tirupati Graphite’s results illustrate why company data must be labeled by product, project and fiscal year. The company’s figures concern flake graphite from projects in Madagascar and the year ended 31 March 2024, rather than global natural-graphite production.
| Tirupati measure | FY2023 | FY2024 |
|---|---|---|
| Flake graphite production | 4,770 t | 7,096 t |
| Graphite sales volume | 3,982 t | 7,434 t |
| Revenue | £2,890,010 | £4,903,856 |
| Production cost per metric ton | £321 | £619 |
| Average selling price per metric ton | £726 | £660 |
Source: Tirupati Graphite plc Annual Report & Accounts for the year ended 31 March 2024. Sales can differ from same-period production because of inventory timing, and the company’s unit-cost measure excludes the stated depreciation treatment.
Tirupati reported production growth of 49% year over year in FY2024 and sales-volume growth of 87%. Revenue increased 70%, while production cost for units sold, excluding depreciation, rose 189% to £4,389,010.
The company’s production cost per metric ton increased 95% from £321 to £619, while its average selling price declined 9% in GBP terms and 5% in U.S.-dollar terms. Tirupati attributed the selling-price change to weaker market dynamics.
Tirupati reported a FY2024 operating loss of £5.1 million, compared with a £2.1 million loss in FY2023, and a FY2024 EBITDA loss of £3.6 million, compared with a £0.8 million loss in FY2023. These are company financial measures, and EBITDA is a non-GAAP KPI as reported by the company.