| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Graphite Anode for LIB Market Analysis
The Graphite Anode for LIB Market is expected to register a CAGR of greater than 7% during the forecast period.
The graphite anode industry is experiencing significant transformation driven by rapid technological advancements in graphite for batteries manufacturing and an increasing focus on sustainable energy solutions. China continues to dominate the global graphite production landscape, accounting for approximately 65% (850 thousand tons) of the world's total graphite production in 2022, with approximately 76% being flake graphite suitable for battery components applications. This concentration of production has led to increased efforts by other regions to develop alternative supply chains and manufacturing capabilities, particularly in North America and Europe, where several new production facilities are being established to reduce dependency on Asian markets.
The industry is witnessing substantial investments in production capacity expansion and technological innovations. Major manufacturers are focusing on developing enhanced graphite anode materials with improved performance characteristics. For instance, in October 2023, Epsilon Advanced Materials (EAM) announced plans to build a USD 650 million graphite anode manufacturing facility in North Carolina, with an annual production capacity of 50,000 tons when fully operational by 2031. Similarly, POSCO Chemical has announced plans to increase its total anode material production capacity to 100,000 tons in 2024, demonstrating the industry's rapid scaling of production capabilities.
The electric vehicle sector continues to be a primary growth driver for the graphite anode market, with global EV sales reaching 18% of total vehicle sales in 2023. According to EV Volumes, approximately 1,385,104 new passenger plug-in electric cars were registered globally in November 2023, representing a 31% increase from the previous year. This surge in EV adoption has prompted battery manufacturers to enhance their production capabilities and improve anode material specifications to meet the growing demand for high-performance batteries.
The industry is also experiencing a shift towards vertical integration and localization of supply chains. Companies are increasingly investing in complete value chain control, from raw material processing to final anode production. In November 2023, the Automotive Energy Supply Corporation (AESC) announced plans to operate a battery gigafactory in Douai, France, by 2025, with an initial capacity to power 200,000 electric cars annually. Such developments indicate a growing trend towards establishing regional manufacturing hubs to ensure supply chain resilience and meet local market demands while reducing dependence on traditional supply sources. The focus on materials for energy storage and raw materials for batteries is becoming increasingly crucial as companies strive to enhance their production processes and ensure a steady supply of graphite electrodes.
Graphite Anode for LIB Market Trends
Increasing Demand for Lithium-ion Batteries in Electric Vehicles
The rapid acceleration of electric vehicle adoption globally has created unprecedented demand for lithium-ion batteries, directly driving the growth of the graphite anode market. Global EV sales gained significant momentum and reached 18% of global vehicle sales in 2023, with projections indicating that EVs will make up half of new car sales globally by 2035. This surge in EV adoption is evidenced by the registration of nearly 1,385,104 new passenger plug-in electric cars globally in November 2023, representing a 31% increase compared to the previous year. The growing EV market is particularly significant for graphite anode manufacturers since Li-ion batteries in electric vehicles contain approximately 28% graphite by weight, as the graphite anode battery component offers notable improvements in the battery life cycle.
Major automotive manufacturers are making substantial investments in battery manufacturing capabilities to meet this growing demand. For instance, in April 2023, SK On and Hyundai partnered to build a USD 5 billion battery plant in Bartow County, Georgia, while Hyundai and LG Energy Solution formed another joint venture to build a battery cell factory near Savannah, Georgia. Additionally, Ford Motor Co. is investing USD 5.6 billion in the Blue Oval City complex with partner SK Innovation Co., scheduled to start operations in 2025 for manufacturing next-generation electric F-150 Lightning vehicles. These significant investments in battery manufacturing infrastructure demonstrate the strong correlation between EV market growth and the increasing demand for graphite anodes in electric vehicle batteries in lithium-ion batteries.
Understand The Key Trends Shaping This Market
Download PDF
High Energy Density and Recyclability of Graphite-based Anodes
The superior energy density characteristics of graphite-based anodes make them an ideal choice for lithium-ion batteries, particularly in applications requiring high performance and longevity. When lithium-ion batteries are used with graphite anodes, they display a specific energy of over 160 Wh/kg (watt-hours per kilogram), which is double that of nickel-metal hydride batteries. The high energy density in lithium-ion batteries is achieved by promoting electrolyte penetration into the electrode, which should be comprised of highly densified active materials like conventional graphite anodes. The optimal particle size for graphite is about 20 μm (micrometers), allowing LIBs to store more energy, while the circularity of graphite has a direct effect on energy storage with optimal tapped density being more than 1 g/mL.
The recyclability aspect of graphite anodes presents another significant advantage driving their adoption in the lithium-ion battery industry. Used graphite can be recovered from LIBs for economic and environmental purposes, with used graphite anodes demonstrating the same energy density and cycle capacity as new graphite anodes. This characteristic is particularly important as global demand for LIBs is expected to increase ten-fold by 2030, with more than 2 million tons of retired LIBs projected to be produced annually. The rising need to limit e-waste has resulted in the development of various techniques to recover graphite from LIBs, including citric acid leaching, efficient ultrasonication, and filtering extraction techniques. The ability to recycle and reuse graphite anodes not only provides environmental benefits but also generates financial gains for companies, making it a sustainable choice for battery manufacturers. The use of graphite as a material for lithium batteries enhances the sustainability of the energy storage materials industry.
Segment Analysis: By Type
Synthetic Graphite Segment in Graphite Anode for LIB Market
Synthetic graphite dominates the global graphite anode for LIB market, accounting for approximately 73% of the total market value in 2024. This significant market share can be attributed to its superior properties, including high purity, excellent lubrication, and electrical conductivity. The segment's dominance is particularly evident in premium battery applications, where manufacturers prefer synthetic graphite anode due to its higher purity and greater consistency in performance. The material's ability to withstand high temperatures up to 1600° Celsius and its compatibility with advanced battery technologies like NCA and NMC 811 have further strengthened its market position. Additionally, the synthetic graphite anode's lower electrical resistance and proven track record in high-performance applications have made it the preferred choice for electric vehicle manufacturers and premium battery producers worldwide.
Natural Graphite Segment in Graphite Anode for LIB Market
The natural graphite segment is emerging as the fastest-growing segment in the graphite anode for LIB market, with a projected growth rate of approximately 27% from 2024 to 2029. This remarkable growth trajectory is driven by several factors, including its cost-effectiveness compared to synthetic graphite and increasing focus on sustainable battery anode material. Natural graphite's inherent advantages, such as high energy density and strong crystalline structure, make it particularly suitable for next-generation battery applications. The segment's growth is further supported by ongoing technological advancements in spherical graphite production and purification processes, which have significantly improved the material's performance characteristics. The development of optimized graphite morphology has enabled manufacturers to create anodes with enhanced rate capability, longer cycle life, and better safety performance, driving increased adoption across various battery applications.
Graphite Anode for LIB Market Geography Segment Analysis
Graphite Anode for LIB Market in Asia-Pacific
The Asia-Pacific region dominates the global graphite anode for LIB market, driven by significant investments in electric vehicle battery manufacturing and strong government support for clean energy initiatives. China leads the regional market with extensive manufacturing capabilities and raw material resources, followed by emerging markets like India and established markets like Japan and South Korea. The region benefits from the presence of major battery manufacturers and automotive companies, particularly in countries like China, Japan, and South Korea, while India and ASEAN countries are rapidly developing their domestic manufacturing capabilities.
Graphite Anode for LIB Market in China
China maintains its position as the largest market for graphite anode in the Asia-Pacific region, commanding approximately 79% of the regional market share in 2024. The country's dominance is supported by its massive electronics manufacturing industry and leadership in electric vehicle production. China has established itself as the world's leading producer of graphite, with extensive mining operations and graphite processing facilities. The country's battery manufacturing sector continues to expand, driven by strong domestic demand and export opportunities, while government policies actively support the development of the electric vehicle and energy storage sectors.
Graphite Anode for LIB Market in India
India emerges as the fastest-growing market in the Asia-Pacific region, with a projected growth rate of approximately 35% from 2024 to 2029. The country's rapid growth is driven by increasing investments in domestic battery manufacturing capabilities and the government's push toward electric mobility. India's market expansion is supported by various policy initiatives promoting domestic manufacturing of lithium-ion batteries and electric vehicles. The country is actively developing its battery supply chain infrastructure and attracting investments from both domestic and international players in the battery raw material market.
Graphite Anode for LIB Market in North America
The North American market for graphite anode in LIB is characterized by increasing investments in domestic battery manufacturing capabilities and strong government support for reducing dependency on Asian imports. The region's market is primarily driven by the growing electric vehicle sector and energy storage applications, with significant developments in battery manufacturing facilities across different countries.
Graphite Anode for LIB Market in United States
The United States dominates the North American market, accounting for nearly 100% of the regional market share in 2024. The country's market is driven by substantial investments in battery manufacturing facilities and strong government support for domestic production capabilities. The US market benefits from increasing electric vehicle adoption, with major automotive manufacturers expanding their electric vehicle portfolios and investing in battery production facilities. The country's focus on developing a domestic battery supply chain has attracted significant investments from both domestic and international players.
Graphite Anode for LIB Market Growth in United States
The United States also leads the region's growth trajectory with a projected growth rate of approximately 21% from 2024 to 2029. The country's growth is supported by various government initiatives promoting domestic battery manufacturing and electric vehicle adoption. The expansion of battery manufacturing facilities and increasing investments in research and development contribute to market growth. The US market benefits from strong collaboration between automotive manufacturers, battery producers, and technology companies in developing advanced battery graphite solutions.
Graphite Anode for LIB Market in Europe
The European market for graphite anode in LIB is experiencing significant growth driven by the region's aggressive push toward electric mobility and renewable energy storage solutions. The market benefits from strong regulatory support for reducing carbon emissions and promoting electric vehicle adoption across various countries. Germany, France, and the United Kingdom lead the regional market development, while other countries are rapidly developing their battery manufacturing capabilities.
Graphite Anode for LIB Market in United Kingdom
The United Kingdom has established itself as the largest market for graphite anode in LIB within Europe. The country's market is driven by significant investments in battery manufacturing facilities and strong government support for electric vehicle adoption. The UK's focus on developing a robust domestic battery supply chain and commitment to phasing out internal combustion engine vehicles has attracted substantial investments in battery technology and manufacturing capabilities.
Graphite Anode for LIB Market in United Kingdom
The United Kingdom also leads the region's growth trajectory, demonstrating the fastest growth rate among European countries. The country's market expansion is supported by increasing investments in battery manufacturing facilities and strong government initiatives promoting electric vehicle adoption. The UK's commitment to developing a comprehensive battery supply chain and focus on sustainable transportation solutions continues to drive market growth.
Graphite Anode for LIB Market in Rest of World
The Rest of World market, encompassing regions outside Asia-Pacific, North America, and Europe, shows growing potential in the graphite anode for LIB market. Countries such as Brazil, Argentina, Saudi Arabia, South Africa, and the United Arab Emirates are developing their electric vehicle and energy storage capabilities. Brazil emerges as both the largest and fastest-growing market in this region, driven by increasing investments in electric vehicle manufacturing and battery production facilities. The region's growth is supported by government initiatives promoting clean energy adoption and developing domestic manufacturing capabilities, contributing to the graphite electrode market and battery raw material market.
Get Analysis on Important Geographic Markets
Download PDF
Graphite Anode for LIB Industry Overview
Top Companies in Graphite Anode for LIB Market
The market is led by established players like Beterui New Materials, Shanshan Co., Shanghai Putailai New Energy Technology, and POSCO Chemical, who have demonstrated strong capabilities in product development and manufacturing scale. Companies across the industry are heavily investing in research and development to enhance anode materials performance, particularly focusing on improving energy density and charging capabilities. Strategic expansions through new production facilities, especially in key markets like China and South Korea, have become a common trend as manufacturers aim to meet the growing demand from electric vehicle and energy storage applications. The industry is witnessing increased collaboration between anode materials manufacturers and battery producers, fostering technological advancement and supply chain optimization. Companies are also emphasizing sustainable production methods and developing eco-friendly processing techniques to align with global environmental regulations and customer preferences.
Consolidated Market with Strong Regional Players
The graphite anode for LIB market exhibits a partially consolidated structure, with the top players commanding significant market share while regional specialists maintain strong positions in their respective territories. Chinese manufacturers dominate the global landscape, leveraging their integrated supply chains and proximity to raw material sources, while Japanese and South Korean players differentiate themselves through advanced technology and quality control. The market has witnessed strategic acquisitions and partnerships, particularly focused on securing battery raw materials supply chains and expanding geographical presence, with companies like POSCO Chemical actively pursuing stake acquisitions in Chinese processors and manufacturers.
The industry landscape is characterized by a mix of pure-play anode material manufacturers and diversified chemical conglomerates, each bringing unique strengths to the market. Pure-play manufacturers excel in specialized product development and customer relationships, while conglomerates leverage their broader resources and established distribution networks. Market entry barriers remain high due to technical expertise requirements, the capital-intensive nature of operations, and the importance of established relationships with battery manufacturers, leading to a relatively stable competitive environment with gradual evolution through strategic partnerships and joint ventures.
Innovation and Scale Drive Market Success
Success in the graphite anode market increasingly depends on maintaining technological leadership while achieving economies of scale. Companies must invest continuously in research and development to improve product performance, particularly in areas such as fast charging capability, cycle life, and energy density. Building strong relationships with electric vehicle manufacturers and battery producers has become crucial, as these end-users tend to form long-term partnerships with reliable suppliers. The ability to secure stable raw material supply chains, particularly for high-quality graphite, while maintaining cost competitiveness through graphite processing optimization and automation, has emerged as a critical success factor.
For new entrants and smaller players, specialization in niche applications or specific geographical markets offers a viable path to growth. The development of next-generation anode materials, such as silicon-graphite composites, presents opportunities for differentiation. Companies must also prepare for potential regulatory changes regarding environmental impact and raw material sourcing, while maintaining flexibility to adapt to evolving battery technologies. The concentration of customers in the electric vehicle and energy storage sectors makes strong customer relationships and quality consistency crucial for long-term success, while the moderate threat of substitute materials necessitates ongoing innovation in traditional graphite electrodes technology.
Graphite Anode for LIB Market Leaders
-
Tokai Carbon Co. Ltd
-
Mitsubishi Chemical Holdings Corporation
-
Nippon Carbon Co. Ltd
-
SGL Carbon
-
Resonac
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Graphite Anode for LIB Market News
- June 2022: Mitsubishi Chemical Holdings announced the expansion of its graphite anode manufacturing facilities from 2,000 tons/year to 12,000 tons/year at its Chinese subsidiary Qingdao Anode Kasei Co., Ltd. This move will expand the company's supply to the European and United States market.
- March 2021: SGL Carbon received funding for research and development of graphite anode materials under the European IPCEI (Important Project of Common European Interest).
Graphite Anode for LIB Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Demand for Lithium-Ion Batteries for Electric Vehicle
- 4.1.2 Other Drivers
-
4.2 Restraints
- 4.2.1 Stringent Regulations Against Dumping of Battery Waste
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
-
5.1 Type
- 5.1.1 Synthetic Graphite
- 5.1.2 Natural Graphite
-
5.2 Geography
- 5.2.1 Asia-Pacific
- 5.2.1.1 China
- 5.2.1.2 India
- 5.2.1.3 Japan
- 5.2.1.4 South Korea
- 5.2.1.5 Rest of Asia-Pacific
- 5.2.2 North America
- 5.2.2.1 United States
- 5.2.2.2 Canada
- 5.2.2.3 Mexico
- 5.2.3 Europe
- 5.2.3.1 Germany
- 5.2.3.2 France
- 5.2.3.3 United Kingdom
- 5.2.3.4 Italy
- 5.2.3.5 Russia
- 5.2.3.6 Rest of Europe
- 5.2.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) Analysis**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 Beterui New Materials Group Co. Ltd.
- 6.4.2 Elkem ASA
- 6.4.3 Guangdong Kaijin New Energy Technology Co. Ltd
- 6.4.4 JFE Chemical Corporation
- 6.4.5 Longbai Group
- 6.4.6 Mitsubishi Chemical Holdings Corporation
- 6.4.7 Ningbo Shanshan Co. Ltd.
- 6.4.8 Nippon Carbon Co. Ltd
- 6.4.9 POSCO CHEMICAL
- 6.4.10 Resonac
- 6.4.11 SGL Carbon
- 6.4.12 Shanghai Pu Tailai New Energy Technology Co. Ltd
- 6.4.13 Shenzhen XFH Technology Co. Ltd
- 6.4.14 Syrah Resources Limited
- 6.4.15 Tokai Carbon Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Newer Materials for LIB
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now
Graphite Anode for LIB Industry Segmentation
Graphite anodes are widely used for electric vehicles as a significant component of lithium-ion batteries. The market is segmented by type and geography. By type, the market is segmented into natural graphite and synthetic graphite. The report also covers the size and forecast for the graphite electrode market in 12 countries across regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| Type | Synthetic Graphite | ||
| Natural Graphite | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| France | |||
| United Kingdom | |||
| Italy | |||
| Russia | |||
| Rest of Europe | |||
| Rest of World | |||
Need A Different Region or Segment?
Customize Now
Graphite Anode for LIB Market Research FAQs
What is the current Graphite Anode for LIB Market size?
The Graphite Anode for LIB Market is projected to register a CAGR of greater than 7% during the forecast period (2025-2030)
Who are the key players in Graphite Anode for LIB Market?
Tokai Carbon Co. Ltd, Mitsubishi Chemical Holdings Corporation, Nippon Carbon Co. Ltd, SGL Carbon and Resonac are the major companies operating in the Graphite Anode for LIB Market.
Which is the fastest growing region in Graphite Anode for LIB Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Graphite Anode for LIB Market?
In 2025, the Asia-Pacific accounts for the largest market share in Graphite Anode for LIB Market.
What years does this Graphite Anode for LIB Market cover?
The report covers the Graphite Anode for LIB Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Graphite Anode for LIB Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Graphite Anode for LIB Market Research
Mordor Intelligence provides a comprehensive analysis of the graphite electrode and battery component sectors. We leverage decades of expertise in energy storage material research. Our latest report examines the evolving landscape of anode material technologies. It focuses particularly on lithium battery anode developments and electric vehicle battery material innovations. The detailed analysis covers battery graphite applications and synthetic graphite anode manufacturing processes. This information is available as an easy-to-download report PDF.
Stakeholders in the graphite electrode market gain crucial insights into battery raw material trends and graphite processing advancements through our thorough research methodology. The report explores lithium battery material developments and battery anode material specifications. It also examines emerging technologies in the battery raw material market. Our analysis provides strategic value for manufacturers, suppliers, and investors in the graphite electrode industry. We offer comprehensive coverage of lithium battery graphite applications and market dynamics.
