Natural flake graphite supply & demand
Lithium-ion batteries have become the dominant battery technology for use in electric vehicles (EV). This dominance is expected to continue given the significant investment and expanding capacity of lithium-ion gigafactories in Asia, North America and Europe.
Increased demand for alternative natural battery anode supply chains and greater recycling has resulted from continued government policies, regulations and EV manufacturers environmental and social governance. Battery and EV manufacturers are also recognising the environmental benefits of natural graphite over synthetic graphite, which is resulting in increased forecast use of natural graphite in the battery anode, increasing from 35% currently, to over 50% by 2030.
EV adoption rates are forecast to increase demand for lithium-ion batteries with BMI forecasting the market to grow at a CAGR of 23.9% over the next 10 years.