Africa Graphite Market Overview and Growth Prospects Predicted by 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:

The African graphite market is experiencing rapid growth, fueled by rising global demand and increasing investment in key industries such as electric vehicles (EVs) and renewable energy storage. Africa is home to substantial untapped graphite reserves, particularly in countries like Mozambique, Madagascar, and Tanzania, positioning the continent as a critical player in the global supply chain. Supportive government policies and ongoing improvements in infrastructure are enhancing Africa’s appeal to foreign investors and laying the groundwork for sustained long-term development. Notably, Syrah Resources is advancing the Balama Project in Mozambique, a flagship international initiative aimed at significantly boosting graphite production. This surge in investment is largely driven by the growing need for graphite in lithium-ion battery manufacturing, a core component of the clean energy transition.

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

Africa Graphite Market Segmentation Analysis

Key segments that contributed to the derivation of the graphite market analysis are type, form, and application.

• By type, the graphite market is bifurcated into natural and synthetic. The synthetic segment dominated the market in 2024. 
• In terms of form, the market segmented into powder, flake, granules, electrodes, and others. The flake segment held the largest share of the market in 2024.
• By application, the graphite market is segmented into batteries, lubricants, refractories, friction products, electrode, and others. The electrode segment dominated the market in 2024. 

Africa Graphite Market Outlook

African graphite producers are adopting strategies such as technological innovations, vertical integration, and international partnerships to maintain a competitive edge. Companies increasingly focus on sustainable mining practices and value-added products such as battery-grade anode materials. For example, in 2023, Black Rock Mining's Mahenge Graphite Project in Tanzania received significant funding from CRDB Bank, which would help it become one of the largest graphite mines globally. As the global demand for graphite continues to rise, particularly with the expansion of EVs and energy storage solutions, Africa is positioning itself as a key player in the global graphite market.

Africa Graphite Market Country Insights

Based on region, the Africa graphite market is further segmented into the Egypt, South Africa, Algeria, and Nigeria. The South Africa held the largest share in 2024.

The South African graphite market has experienced steady growth in recent years, driven by increasing demand from various industries such as automotive, aerospace, and renewable energy. The country's rich graphite deposits, particularly in the Northern Cape and Limpopo provinces, have positioned it as a significant player in the global graphite market. In 2022, its natural graphite exports in powder or flakes form reached US$ 136,360, with a total volume of 63,163 Kg. The increasing adoption of EVs, which rely heavily on graphite-based batteries, is anticipated to be a major driver of this growth. Additionally, the South African government's efforts to promote the development of its mining sector, including the graphite industry, are expected to further boost the market's growth prospects.

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights