Between 2013 and 2023, the natural graphite market size in Belgium experienced a declining trend. Starting at $14.129 million in 2013, the market saw a consistent drop to $8.1094 million in 2023. The most significant year-on-year variations include a 12.18% decline in 2018 and a 7.39% decline in 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged -6.24%.
Forecasts for the next five years show continued decline, with a projected market size of $4.968 million by 2028. This signifies a forecasted five-year CAGR of -7.83% and an overall growth rate of -33.48% from 2024 to 2028.
Future trends to watch for in the natural graphite market include advancements in alternative materials, shifts in demand for electric vehicles and batteries, and potential regulatory changes affecting extraction and use.
