Pune, India, Aug. 24, 2021 (GLOBE NEWSWIRE) — The global graphite market size was USD 13.60 billion in 2020. Based on our analysis, the market is projected to grow from USD 14.83 billion in 2021 to USD 25.70 billion in 2028 at a CAGR of 8.2% during the 2021-2028 period. This information is published by Fortune Business Insights™ in its report, titled, “Graphite Market, 2021-2028.” The increasing utilization of this mineral in the production of lithium-ion batteries used in automobiles is estimated to enhance the demand eventually. The major players, as well as the governments, are enormously endorsing the utilization of EVs.
For instance, in early 2019, the Indian government revealed its strategies to enhance its national battery production and value-adding abilities to encounter its electric vehicle (EV) adoption objectives. It further plans on introducing tenders to establish a USD 50 billion 50 GW battery manufacturing base. Likewise, the government is focusing on providing zero duty on the import of lithium-ion. This will enable the producers to create novel…
