Abstract: Natural graphite is widely used in traditional industries and strategic emerging industries, and it is an important raw material supporting the development of high-tech in China. This paper discusses the current status of natural graphite resources in China, and predicts the future demand for natural graphite in industries such as refractory materials, casting, pencils, sealing materials, friction materials, lubrication and adsorption materials, and lithium battery negative electrode materials by analyzing the main sector demands for natural graphite consumption. The research has found that China has abundant natural graphite resources, and the demand of natural graphite will grow rapidly in the future. It is expected that the demand for natural graphite in China will reach 1.09 million tons, 1.883 million tons, and 2.783 million tons respectively by 2025, 2030, and 2035. The global graphite supply side is reshaping, and China’s position in the global graphite industrial and supply chains is declining. The shift of the focus of natural graphite consumption from traditional industries to strategic emerging industries is bringing new growth points to the development of the graphite industry. The graphite industry urgently needs transformation and upgrading, and the development of the high-end graphite industry is facing opportunities. By improving the graphite industry chain and strengthening the protection of graphite resources, efforts will be made to transform China from a graphite resource powerhouse to a graphite resource powerhouse, supporting China’s future development needs for graphite products in high-end fields such as new energy, key equipment sealing and lubrication materials, and high-temperature materials.