Graphite’s role in lithium-ion batteries continues to drive its strategic relevance, with more than 90% of anode material made from graphite. While silicon and other alternatives are still under development, none are commercially ready at scale, keeping graphite essential in the battery supply chain for the foreseeable future.
In 2024, supply temporarily outpaced demand, mainly due to increased production in China and a short-term softening in electric vehicle uptake. This created a price drop that obscured the underlying trajectory. But forecasts now point to global demand more than doubling by 2030, led by the EV sector and energy storage systems, with synthetic and natural graphite both playing a role.
The challenge is that most of the world’s processing capacity remains in China, and efforts to diversify are slow to catch up. Natural graphite supply outside China remains constrained by permitting, funding, and infrastructure gaps, while synthetic graphite carries higher production costs and emissions. For end-users and OEMs with decarbonisation targets, that makes non-Chinese natural graphite a priority.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and Mozambique. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India.
