ASEAN Graphite Market Industry Development Challenges, Opportunities 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 and ASEAN Graphite Market Analysis

The graphite market in the ASEAN region is experiencing robust growth, driven by rising demand across a range of applications including batteries, lubricants, refractories, and friction products. ASEAN countries, known for their strong industrial capabilities and rapid technological development, are becoming key players in both graphite production and consumption. A major driver of this growth is the increasing use of graphite in lithium-ion batteries, which power electric vehicles (EVs) and energy storage systems — vital components in the region’s transition toward cleaner and more sustainable energy. Graphite’s unique attributes, such as high thermal conductivity and excellent wear resistance, make it a critical material in the automotive, electronics, and manufacturing industries.

ASEAN Graphite Market Outlook

The future of the ASEAN graphite market looks promising, particularly as industries adopt more sustainable and eco-conscious practices. In a significant development, Malaysia’s Graphjet Technology launched the first commercial-scale green graphite facility in Subang District in November 2024. This innovative plant uses palm kernel shells — a byproduct of palm oil production — to manufacture battery-grade graphite. Capable of recycling up to 9,000 metric tons of shells annually, the facility can produce approximately 3,000 metric tons of graphite per year, supporting the battery needs of around 40,000 EVs. Malaysia's plentiful supply of biomass waste offers a unique opportunity to scale such sustainable operations, positioning the country for strong market growth.

Thailand’s graphite market continues to expand, fueled by demand in sectors such as batteries, lubricants, and construction. As global interest in sustainable, high-performance materials grows, Malaysia has also emerged as a major contributor to the graphite supply chain in the region. Investments in green technologies and improved extraction and processing methods are accelerating market development. Increasing regulatory focus on environmental sustainability is further prompting producers across the region to adopt eco-friendly practices.

ASEAN Graphite Market – Country Insights

The ASEAN graphite market is segmented by country, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Among these, Indonesia held the largest market share in 2024.

Indonesia’s graphite market has seen rapid expansion, largely due to the surging demand for lithium-ion batteries used in electric vehicles and portable electronics. The Indonesian government’s strategic push to establish the country as a global EV hub is a major factor driving this growth. Additionally, graphite's extensive use in refractories, foundries, and lubricants is contributing to the market’s upward trajectory. As Indonesia continues to invest in sustainable industrial practices and battery technology, its graphite market is expected to maintain strong momentum.

Segments Covered

ASEAN Graphite Market By Type

  • Natural
  • Synthetic

ASEAN Graphite Market By Form

  • Powder
  • Flake
  • Granules
  • Electrode

ASEAN Graphite Market By Application

  • Batteries
  • Lubricants
  • Refractories
  • Friction Products
  • Electrodes

ASEAN Graphite Market Regions and Countries Covered

ASEAN

  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam

ASEAN 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 Report: 

Europe Liquid Biopsy Market: https://penzu.com/p/d04fa3ca5cad20a3 

Europe Nuclear Decommissioning Service Market: https://postyourarticle.com/europe-nuclear-decommissioning-service-market-application-opportunities-forecast-by-2027/ 

Europe Pharmaceutical Drug Delivery Market: https://business-news-insights.blogspot.com/2025/05/europe-pharmaceutical-drug-delivery.html 

Europe POS Software Market: https://sites.google.com/view/pos-software-euro/home 

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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