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Electric Vehicles and Nuclear Power Are Fighting Over One Obscure Mineral

Oil Price, By Michael Kern – Dec 31, 2025,

• The market for ultra-high-purity (UHP) graphite, essential for EV anodes and nuclear reactors, is projected to hit $1.43 billion by 2030, masking structural friction in the global energy transition.
• The vast majority (86% in 2024) of UHP graphite is synthetic, requiring a massive industrial footprint of fossil fuel feedstock and staggering  amounts of electricity for high-heat graphitization furnaces.
• Two massive, well-funded industries—transportation and power generation (SMRs/nuclear)—are competing for the same narrow, geopolitically sensitive supply of high-purity carbon, which is primarily controlled by Asia Pacific’s refining capacity.

The energy transition is often sold as a story of ethereal “green” progress, but if you look at the balance sheets of the companies actually building it, the story is written in soot and high-voltage electricity. While the financial press spends its time obsessing over the price of lithium or the latest solid-state battery breakthrough, a much more grounded, and expensive, reality is setting in.

We are entering the era of the engineered anode.

New data suggests the market for ultra-high-purity (UHP) graphite is on a trajectory to hit $1.43 billion by 2030. On the surface, a 10.5% compound annual growth rate looks like a healthy, if predictable, industrial expansion. But for those of us who track the friction between a digital climate pledge and the physical hardware required to meet it, that number masks a massive structural shift in how we power the world… and who holds the keys…………………………………………………………………………………………

The Nuclear Renaissance’s Dirty Secret

There is a quieter, more desperate buyer entering the UHP market: the nuclear sector.

As we move toward Small Modular Reactors (SMRs) and high-temperature gas-cooled reactors, the demand for “nuclear-grade” pyrolytic graphite is set to lead the market in growth. This material is produced via chemical vapor deposition (CVD)—an even more complex and expensive process than standard synthetic graphitization.

In a nuclear core, graphite is a structural necessity that must survive extreme radiation and heat without absorbing neutrons.

The report highlights that this “unrivaled ability” makes it indispensable. But here is the friction point: the standards for nuclear-grade purity are even higher than battery-grade.

We are effectively seeing two massive, well-funded industries—Transportation and Power Generation—fighting over the same narrow pipe of high-purity carbon…

It is a zero-sum game played with atoms………………………………………………………………………………….. https://oilprice.com/Metals/Commodities/Electric-Vehicles-and-Nuclear-Power-Are-Fighting-Over-One-Obscure-Mineral.html

January 3, 2026 - Posted by Christina Macpherson | technology