Electrification
Natural Graphite: The Material for a Green Economy
The following content is sponsored by Northern Graphite.
Natural Graphite: The Material for a Green Economy
As the world moves towards decarbonization, electric vehicles (EVs) and clean energy technologies offer a path towards a sustainable future. However, these technologies are mineral-intensive, and the minerals they use are becoming increasingly valuable.
Graphite is one such mineral.
As the anode material and single largest component of lithium-ion batteries, graphite has a key role in the clean energy transition. But there are two types of graphite: natural and synthetic. Which one is better for the green economy?
The above infographic from Northern Graphite outlines the need for graphite and weighs the pros and cons of the two types of graphite.
The Need for Graphite
Graphite has six key properties that make it essential for EVs and other clean energy technologies.
- High electrical conductivity
- High thermal conductivity
- Relatively low cost
- High energy density
- Long cycle life
- High temperature resistance
A single EV contains 66.3kg of graphite, according to the IEA. With more EVs on the road, the world will need more graphite. In fact, among critical battery metals like cobalt, nickel, and lithium, graphite is projected to see the largest increase in demand through 2029.
Batteries can use both types of graphite as anode materials. As of 2020, synthetic graphite dominated the anode market with 58% of market share. However, this could change over the next decade. By 2030, natural graphite is expected to see a 1437% increase in anode demand, compared to a 705% increase for synthetic graphite.
Why is the demand for natural graphite rising at a faster rate?
Natural Graphite vs Synthetic Graphite
The methods of production make the key distinction between the two types of graphite. Natural graphite occurs naturally in mineral deposits and miners extract it from the ground through open-pit and underground mining. On the contrary, manufacturers make synthetic graphite by high-temperature treatment of carbon materials like petroleum coke and coal tar.
Producing graphite from mineral deposits results in carbon dioxide (CO2) emissions from the conventional mining process. However, the heat treatment of synthetic graphite is an energy-intensive process that releases harmful emissions.
According to one study, the manufacturing of synthetic graphite produces roughly 4.9kg of CO2 per kg of graphite. That’s roughly three times the amount of CO2 emissions that come from producing 1kg of natural graphite.
Additionally, natural graphite is also cheaper to produce than synthetic graphite. According to research from the Öko-Institut in Germany, anode material made from natural graphite is priced between $4 and $8 per kg, while synthetic graphite-based anode material costs $12-$13 per kg.
The Anode Material for a Green Economy
Critical minerals like graphite are becoming increasingly important in the transition to clean energy. However, managing the environmental impact and efficiency of producing these raw materials is just as important.
With a lower environmental footprint and lower production costs, natural graphite is the anode material for a greener future. As the energy transition continues, new graphite mines could play a key role in meeting graphite’s rapidly growing demand.
Electrification
Charted: The Energy Demand of U.S. Data Centers
Data center power needs are projected to triple by 2030.
Charted: The Energy Demand of U.S. Data Centers
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As the digital economy accelerates and generative AI becomes more deeply embedded in business and daily life, the physical infrastructure supporting these technologies is undergoing a transformative explosion.
In this graphic, we use data from McKinsey to show current and projected energy demand from data centers in the United States. Data is from October 2023.
U.S. Data Centers Could Quadruple Power Demand by 2030
Today, data centers account for roughly 4% of total U.S. electricity consumption. But by 2030, that share is projected to rise to 12%, driven by unprecedented growth in computing power, storage needs, and AI model training.
In fact, U.S. data center energy demand is set to jump from 224 terawatt-hours in 2025 to 606 terawatt-hours in 2030.
| Year | Consumption (TWh) | % of Total Power Demand |
|---|---|---|
| 2023 | 147 | 4% |
| 2024 | 178 | 4% |
| 2025 | 224 | 5% |
| 2026 | 292 | 7% |
| 2027 | 371 | 8% |
| 2028 | 450 | 9% |
| 2029 | 513 | 10% |
| 2030 | 606 | 12% |
Meeting this projected demand could require $500 billion in new data center infrastructure, along with a vast expansion of electricity generation, grid capacity, and water-cooling systems. Generative AI alone could require 50–60 GW of additional infrastructure.
This massive investment would also depend on upgrades in permitting, land use, and supply chain logistics. For example, the lead time to power new data centers in large markets such as Northern Virginia can exceed three years. In some cases, lead times for electrical equipment are two years or more.
A Strain on the U.S. Grid
The U.S. has experienced relatively flat power demand since 2007. Models suggest that this stability could be disrupted in the coming years. Data center growth alone could account for 30–40% of all net-new electricity demand through 2030.
Unlike typical power loads, data center demand is constant, dense, and growing exponentially. Facilities often operate 24/7, with little downtime and minimal flexibility to reduce usage.
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Electrification
Visualizing China’s Battery Recycling Dominance
In 2025, China will hold 78% of pre-treatment and 89% of refining capacity.
Visualizing China’s Battery Recycling Dominance
Battery recycling is expected to become a cornerstone of the global energy transition as electric vehicles (EVs) and other battery-powered technologies become more widespread.
According to exclusive data from Benchmark Mineral Intelligence, China holds a dominant position in both the pre-treatment and refining stages of battery recycling.
Chinese Growing Dominance
Battery recycling involves two major stages. First is pre-treatment, where recycling begins. Scrap batteries are typically shredded and separated to produce a material known as black mass.
The next stage is refining, which processes black mass into valuable lithium-, nickel-, and cobalt-based chemicals for use in battery cathodes.
China’s scale, infrastructure, and early investments in battery supply chains have translated into an outsized advantage in recycling capacity.
As the largest producer and user of lithium ion batteries, the country is expected to process 3.6 million tonnes of scrap batteries in 2025, up from 1.2 million tonnes in 2022. This would account for 78% of global pre-treatment capacity, with total global capacity projected to exceed 4.6 million tonnes.
| Region/Tonnes | 2022 | 2023 | 2024 | 2025P |
|---|---|---|---|---|
| Global | 1.5M | 2.4M | 2.8M | 4.6M |
| China | 1.2M | 1.8M | 2.1M | 3.6M |
| Asia excl. China | 158K | 231K | 288K | 361K |
| Europe | 118K | 133K | 243K | 416K |
| North America | 59K | 165K | 129K | 196K |
| ROW | 4K | 6K | 6K | 40K |
In second place is the rest of Asia, with 361,000 tonnes, followed by Europe with 416,000 tonnes. While the U.S. attempts to reduce its reliance on China in the mineral sector, North America accounts for just 196,000 tonnes.
The refining stage is even more concentrated.
China’s black mass refining capacity is projected to nearly triple, from 895,000 tonnes in 2022 to 2.5 million tonnes by 2025—representing 89% of global capacity.
| Region/Tonnes | 2022 | 2023 | 2024 | 2025P |
|---|---|---|---|---|
| Global | 960K | 1.4M | 1.7M | 2.8M |
| China | 895K | 1.3M | 1.5M | 2.5M |
| Asia excl. China | 48K | 101K | 146K | 225K |
| Europe | 13K | 23K | 25K | 28K |
| North America | 4K | 5K | 5K | 21K |
| ROW | 0 | 1K | 1K | 32K |
Refining is critical, as it converts recycled material into high-purity, battery-grade chemicals. The rest of Asia is expected to refine 225,000 tonnes, Europe 28,000 tonnes, and North America only 21,000 tonnes. Between 2022 and 2025, China’s refining capacity is projected to grow by 179%, while North America’s is expected to surge by 425%—albeit from a much smaller base.
As global demand for EVs and battery storage rises, countries looking to build domestic recycling infrastructure must accelerate investment to reduce dependence on Chinese supply chains.
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