Africa Graphite Market Analysis by Business Methodologies, Financial 2031


The Africa Graphite Market size is expected to reach US$ 256.61 million by 2031 from US$ 131.04 million in 2024. The market is estimated to record a CAGR of 10.3% from 2025 to 2031. 

Executive Summary and Africa Graphite Market Analysis

Africa Graphite is emerging as a strategic hub in the global graphite market, driven by surging international investments and rising demand from high-growth industries such as electric vehicles (EVs) and renewable energy storage. The continent is home to substantial untapped graphite reserves, particularly in Mozambique, Madagascar, and Tanzania, positioning it as a critical supplier in the global graphite supply chain. Supportive government policies and improving infrastructure further enhance Africa’s appeal to foreign investors, laying the groundwork for sustained industry growth.

Notably, Syrah Resources is making significant progress with its Balama project in Mozambique, one of the largest graphite operations globally, aimed at scaling up production to meet escalating demand. The sharp rise in graphite consumption, particularly in lithium-ion battery manufacturing, continues to drive capital inflow into African graphite projects.

Africa Graphite Market Outlook

Africa Graphite Market producers are increasingly adopting innovative strategies to maintain global competitiveness. These include the integration of advanced technologies, vertical integration across the value chain, and strategic international partnerships. Sustainability is also becoming a core focus, with many companies investing in environmentally responsible mining practices and producing value-added materials such as battery-grade anodes.

For example, Black Rock Mining's Mahenge Graphite Project in Tanzania secured major funding in 2023 from CRDB Bank, positioning it to become one of the world’s largest graphite producers. As global demand continues to climb, especially with the acceleration of EV and energy storage markets, Africa is set to play an increasingly vital role in the international graphite landscape.

Africa Graphite Market: Country Insights

The African graphite market includes key regional players such as Egypt, South Africa, Algeria, and Nigeria. Among these, South Africa held the largest market share in 2024.

South Africa’s graphite industry has experienced steady growth, driven by rising demand from sectors such as automotive, aerospace, and renewable energy. The country’s rich graphite deposits—particularly in the Northern Cape and Limpopo provinces—make it a major contributor to the global market. In 2022, South Africa exported approximately 63,163 kg of natural graphite (powder or flakes), valued at US$136,360. The expanding adoption of electric vehicles, which require graphite-intensive batteries, is a key growth catalyst. Furthermore, ongoing government initiatives to strengthen the mining sector, including graphite development, are expected to support long-term market expansion.

Africa Graphite Market Segments Covered

Africa Graphite Market By Type

  • Natural
  • Synthetic

Africa Graphite Market By Form

  • Powder
  • Flake
  • Granules
  • Electrode

Africa Graphite Market By Application

  • Batteries
  • Lubricants
  • Refractories
  • Friction Products
  • Electrodes

Africa Graphite Market Regions and Countries Covered

  • Africa
    • South Africa
    • Egypt
    • Algeria
    • Nigeria

Africa Graphite Market leaders and key company profiles

  • SGL Carbon
  • Imerys Graphite & Carbon
  • EuroGraphite
  • Graphite India Ltd.
  • Graphit Kropfmühl GmbH
  • China Graphite Group Limited
  • Ceylon Graphite Corp
  • Graphite Central
  • Nanjing GRF Carbon Material Co Ltd

Other Reports:

BRIC Permanent Magnet Market: https://github.com/SuryakantGadekar/Business-Market-Insights/issues/1 

ASEAN Permanent Magnet Market: https://penzu.com/p/76ea73629cddb971 

Benelux Permanent Magnet Market: https://sites.google.com/view/benelux-permanent-magnet-marke/home   

Western Europe Permanent Magnet Market: https://business-news-insights.blogspot.com/2025/05/western-europe-permanent-magnet-market.html 

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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