Saudi Arabia Graphite Market

Saudi Arabia Graphite Market Overview:

The Saudi Arabia graphite market size reached USD 141.03 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 638.42 Million by 2033, exhibiting a growth rate (CAGR) of 16.3% during 2025-2033. Increasing demand for graphite in electric vehicle batteries, industrial applications, and renewable energy storage is one of the factors contributing to Saudi Arabia graphite market share. Additionally, the Kingdom’s push for diversification through Vision 2030, coupled with growing investments in clean energy and technological innovations, supports market growth.

Saudi Arabia Graphite Market Trends:

Expansion of Sustainable Manufacturing in the Graphite Sector

In Saudi Arabia, the graphite market is experiencing a notable expansion, driven by increasing investments in local production facilities aimed at supporting clean energy solutions. As demand for materials used in electric vehicles and lithium-ion batteries grows, the Kingdom is positioning itself as a key player in the global energy transition. These developments are part of a broader strategy to diversify the economy and strengthen the supply chain for renewable energy technologies. New manufacturing plants are being established to meet the increasing need for critical materials that support electric mobility and energy storage systems. This shift toward sustainable manufacturing reflects Saudi Arabia’s commitment to becoming a hub for clean energy innovation, leveraging its strategic location and resources to attract global investments. The growth in graphite production is expected to significantly contribute to the Kingdom's energy security, positioning it for long-term economic benefits in the global clean energy market. These factors are intensifying the Saudi Arabia graphite market growth. For example, in July 2024, NextSource Materials planned a USD 280 Million graphite anode plant in Saudi Arabia, aiming to produce 20,000 tons annually for lithium-ion batteries. This project aligns with the company's global expansion, enhancing its supply chain for electric vehicle components. The Saudi plant is expected to have an after-tax net present value of USD 677 Million, highlighting its potential as a key player in the Kingdom’s growing graphite market for clean energy solutions.

Strategic Shift toward Graphite Production for Electric Vehicle Batteries

Saudi Arabia is actively exploring graphite production as part of its strategy to diversify its economy and position itself as a key player in the global battery industry. The Kingdom is looking into innovative methods for synthesizing graphite, particularly through oil-refining processes, as part of its broader focus on developing critical materials for electric vehicle (EV) batteries. Alongside projects focused on lithium and nickel, this effort aims to secure a sustainable supply of essential raw materials that support the growing demand for clean energy technologies. By investing in graphite production, Saudi Arabia seeks to strengthen its position in the metals-processing and battery sectors, both of which are critical to the global energy transition. The country's move to develop domestic graphite resources aligns with its broader economic diversification goals and offers potential for international collaborations, reinforcing its strategic importance in the global clean energy landscape. For instance, based on an article published in December 2024, Saudi Arabia is exploring graphite production as part of its strategy to develop materials for electric vehicle batteries. Alongside lithium and nickel projects, the Kingdom is studying graphite synthesis through oil-refining processes, which can be used in battery technologies. This effort aligns with Saudi Arabia’s broader initiative to diversify its economy and strengthen its position in the global metals-processing and battery industries.

Saudi Arabia Graphite Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, application, and end use industry.

Type Insights:

• Natural Graphite
• Synthetic Graphite (FLG)

The report has provided a detailed breakup and analysis of the market based on the type. This includes natural graphite and synthetic graphite (FLG).

Application Insights:

• Electrodes
• Refractories, Casting, and Foundries
• Batteries
• Lubricants
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes electrodes, refractories, casting, and foundries, batteries, lubricants, and others.

End Use Industry Insights:

• Electronics
• Metallurgy
• Automotive
• Others

A detailed breakup and analysis of the market based on the end use industry have also been provided in the report. This includes electronics, metallurgy, automotive, and others.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia Graphite Market News:

• In February 2025, Lucid Motors, which assembles vehicles in Saudi Arabia, signed a binding agreement with Syrah Resources to purchase 7,000 tons of natural graphite for battery production over three years, starting in 2026. The graphite would be sourced from Syrah's US plant in Vidalia. This deal supports Lucid's manufacturing efforts in Saudi Arabia, where the company assembles prefabricated vehicle kits while sourcing battery cells from Panasonic and other suppliers.

Saudi Arabia Graphite Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia graphite market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia graphite market on the basis of type?
• What is the breakup of the Saudi Arabia graphite market on the basis of application?
• What is the breakup of the Saudi Arabia graphite market on the basis of end use industry?
• What are the various stages in the value chain of the Saudi Arabia graphite market? 
• What are the key driving factors and challenges in the Saudi Arabia graphite market?
• What is the structure of the Saudi Arabia graphite market and who are the key players?
• What is the degree of competition in the Saudi Arabia graphite market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia graphite market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia graphite market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia graphite industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.