Natural graphite market in Western Asia

Earlier Report Observations

The natural graphite market volume in Western Asia expanded rapidly from 13 380 tons in 2018 to 42 108 tons in 2022, marking a more than threefold increase. The most pronounced growth occurred in 2021, when the market jumped by 58% to 40 383 tons. In value terms, the market rose from 13.7 million US dollars to 42.7 million US dollars over the same period, reflecting both volume expansion and higher unit values.

This expansion was primarily driven by a dramatic rise in domestic production, which soared from 1 624 tons in 2018 to 27 715 tons in 2022. Imports remained a key component of supply, fluctuating between 11 600 and 18 000 tons annually, while exports grew modestly to 3 670 tons by 2022. The increasing production capacity significantly reduced the region's reliance on imported graphite over the period.

Trade data for 2023 and 2024 show continued volatility in imports, which dipped to 11 814 tons in 2023 before recovering to 18 463 tons in 2024. Exports also varied, falling to 1 866 tons in 2023 and rising to 3 562 tons in 2024. These movements suggest ongoing adjustments in regional trade flows for natural graphite.

Production natural graphite in Western Asia

In kind, 2017-2020, t

Top producers of natural graphite, 2017-2020

World map of production of natural graphite, 2017-2020

Natural graphite production in Western Asia has increased for the third consecutive year. In 2020, the region produced 15,205 tonnes of natural graphite, marking a sharp 52.2% increase compared to 2019. From 2017 to 2020, production surged by 1,077.8%, which translates to an annualized growth rate of 127.5%.

Annual dynamics of production in Western Asia in kind, 2017-2020, t

Exports natural graphite from Western Asia

Exports in kind, t

After two years of growth, Western Asia's natural graphite export volume declined. In 2020, exports totaled 2,128 tonnes, showing a moderate decrease of 3.1% from the previous year. Over the period from 2017 to 2020, exports increased by 52.8%, with a compound annual growth rate (CAGR) of 15.2%. The peak was recorded in 2019 at 2,195 tonnes, while the largest annual increase occurred in 2018 at 32.7%.

Annual dynamics of product's exports from Western Asia in kind, 2017-2020, t

From 2017 to 2020, North Macedonia (34.2% of exports in kind), the United Kingdom (10.0% of exports in kind), and Czechia (8.8% of exports in kind) were consistently the main destinations for exports in kind. Together, these three countries accounted for 53.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Western Asia in kind, 2017-2020

Exports in value, K $ US

In 2020, Western Asia's natural graphite exports reached 1,830 thousand US dollars, reflecting a decline of 13.8% compared to the previous year. Between 2017 and 2020, exports decreased by 52.8%, equating to an annualized rate of 22.2%. The lowest value was recorded in 2018 at 1,701 thousand US dollars, with the largest annual decline occurring that same year at 56.2%. In contrast, the largest increase was seen in 2019 at 24.8%.

Annual dynamics of product's exports from Western Asia in value, 2017-2020, K $ US

From 2017 to 2020, North Macedonia (34.9% of exports in value terms), Hong Kong (28.3% of exports in value terms), and Canada (5.4% of exports in value terms) led the structure of exports in value terms. Collectively, these three destinations represented 68.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Western Asia in value, 2017-2020

Imports natural graphite to Western Asia

Imports in kind, t

Following two years of decline, Western Asia's natural graphite import volume increased. In 2020, imports amounted to 12,408 tonnes, constituting a moderate advance of 6.2% over the previous year. Between 2017 and 2020, imports decreased by 16.3%, equating to an annualized rate of 5.8%. The lowest point was recorded in 2019 at 11,680 tonnes, with the largest annual decline occurring that same year at 14.1%.

Annual dynamics of product's imports to Western Asia in kind, 2017-2020, t

From 2017 to 2020, China (57.6% of imports in kind), Canada (5.8% of imports in kind), and Germany (5.7% of imports in kind) together accounted for 69.1% of total imports in kind, remaining the primary sources for natural graphite to Western Asia.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Western Asia in kind, 2017-2020

Imports in value, K $ US

After two years of decline, Western Asia's natural graphite import volume increased. In 2020, the region imported a total of 11,425 thousand US dollars of natural graphite, up by 1.0% year-on-year. Over the period from 2017 to 2020, imports decreased by 26.5%, with a compound annual growth rate (CAGR) of -9.7%. The minimum value was recorded in 2019 at 11,311 thousand US dollars, with the largest annual decline occurring that same year at 18.6%.

Annual dynamics of product's imports to Western Asia in value, 2017-2020, K $ US

From 2017 to 2020, China (49.9% of imports in value terms), Germany (7.8% of imports in value terms), and India (7.5% of imports in value terms) consistently held leading positions in the country structure of imports in value terms. Together, these three countries accounted for 65.1% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Western Asia in value, 2017-2020