Forecasted increased demand for EVs over the next decade, due to changing consumer preferences and manufacturers working towards net-zero targets, provides a positive outlook for integrated lithium-ion battery manufacturers and their supply chains.
The growing demand for lithium-ion battery reliant EVs is increasing graphite consumption, and supply is forecasted to be in deficit by 2025 according to a Graphite Market Outlook report published by Macquarie Research.
The report notes EV market penetration is forecast to rise from 11 per cent in 2020 to approximately 60 per cent of vehicle sales in 2030, resulting in graphite demand forecasted to deliver 27 per cent CAGR to 2030, driving prices 25 to 50 per cent higher than current levels.
Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. 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.
