Exfoliation of natural graphite flakes is classically provided by a thermal shock of sulfate graphite intercalation compounds. Exfoliated graphite material obtained try this irreversible transformation allows manufacturing graphite foils and more recently micronic graphite flakes with a very low thickness. This paper presents some critical reflections about the industrial process and also recent experimental data relative to an original method which allows exfoliating any carbon-based material that can react with mixtures containing perchloric acid.