From January through October 2023, a total of 493,472 tonnes of graphite were deployed onto roads globally in the batteries of all newly sold passenger EVs (BEVs, PHEVs and HEVs) combined, up 45% or 153,034 tonnes from the same ten months in 2022, according to Adamas Intelligence.

This growth was driven by a 33% increase in passenger EV unit sales and a 9% increase in sales-weighted average battery capacity (in kWh) over the same period.

LFP led from January through October last year, driving 175,576 tonnes of graphite onto roads worldwide, up 54% versus the same period in 2022, capturing 36% of the EV battery market by graphite units deployed, up from 33% the year prior, Adamas said.

In second spot, NCM (nickel-cobalt-manganese) 5-Series (~50%-plus nickel content) cathode chemistries hauled 94,897 tonnes of graphite onto roads globally, up 33% year-over-year, while netting NCM 5-Series 19% of the market by graphite deployed, down from 21% the year prior.

In third place, NCM 8-Series (~80%-plus nickel content) powered 92,366 tonnes (19% market share) of graphite onto roads through the first ten months of 2023, up 53% over the same period the year prior, followed by NCM 7-Series with 39,543 tonnes deployed and NCM 6-Series with 39,137 tonnes deployed.

NCM 6-Series edged out NCA-powered (nickel-cobalt-aluminum) batteries for fifth spot through the first ten months of last year, the latter of which were responsible for 33,552 tonnes of graphite deployed onto roads during the same period.